If you have a business you may want to consider registering it in Singapore as they have far lower tax rates for businesses than most countries. There are, apart from the low taxation rates, other benefits that can be enjoyed if a company is registered in Singapore and to learn how to incorporate here, just look online for details. However, there are three main criteria you will have to meet or at least agree to before you will be permitted to register and those three main criteria have to do with a nominated director, a corporate secretary and an office. First, in order for a company to register in Singapore, it must provide the name of a director that is either in possession of a valid Singapore employment permit, a permanent resident of Singapore or a Singapore citizen. The director nominated may not have to have an actual role that gives them power in the company but is more of a figure head for the company, with the Singaporean government.
The corporate secretary will need to keep up to date records and accounts for any transactions the business carries out in Singapore but as the secretary has to be Singaporean, a grace period of 6 months is allowed in order to comply with particular criteria. Unlike the case in some countries where in order to register, you need only give a P.O. box as the company address, in Singapore, the Singapore address must be the address of an actual office for the registering company and be an office which is open during regular office hours. Fortunately as these are criteria which a foreign company may find hard to meet on their own, there are Singapore businesses which specialize in aiding them. These businesses will help foreign or even new businesses, to find suitable nominees as director, if needed. They will also assist companies in finding suitable candidates to become corporate secretaries, perhaps even offering their own services in that respect.
They will of course also maintain lists of suitable office space available in Singapore. Companies that have already registered in Singapore have found little trouble if they need to hire other qualified workers as Singapore is ranked number one in the world for being able to provide a well-educated, qualified workforce. Being located on the main shipping route between the east and the west, Singapore has enjoyed a lot of business being transacted in its country and it is that business which has contributed to Singapore now being the third wealthiest country in the world, a status it is keen to maintain and so welcomes additional companies to register. This wealth is evident in the fact that people that live in Singapore are said to enjoy the highest standard of living of all the Asian countries and that standard of living will be appreciated by any of a company’s employees that find they have to move there to continue the company’s work; yet another advantage of registering in Singapore.