Do you run a company or business? It is very important that you consider incorporation to establish your new company. Corporations can be a company, a start-up, a non-profit organization, medium or small size business.

What is the need to register your company?

When you incorporatea company in Singapore, you get lots of benefits. Most importantly,Incorporation helps creating goodwill of your brand. You found a platform, so you can easily deal with suppliers, industries, customers and vendors. If you enter to the corporate environment, you will be able to separate yourself from others.

• You can get loans on the name of your company and invest in different companies
• It makes your company a distinct legal entity
• The directors have limited liabilities and they are not personally responsible for company affairs
• It provides tax benefits to the directors
• Once the company is legally established, it is capable of taking, holding and disposing of the property
• With company body structure you can attain global market

Different company structure types

Private limited company

Private limited companies are distinctive entities. The members of a private limited company have limited liabilities to the share number owned by them individually and the company shares can’t be traded publicly.

One Person Company

One Person Company or OPC exists separately as a legal entity, providing limited liability security to the sharers. Such companies have a business flow and easy to incorporate. There are certain similarities between OPC and the private limited company, except OPC requires a single person.

The process of company registration

• You need to fill a form

In order to apply, you need to fill a form with all your necessary details

• Submit your documents

The next step will be providing the set of valid documents needed

• Verification

Once you are done with the document submission successfully, the registration process starts

• Your work is accomplished

It takes a certain timeabout 10 to 20 days to get your company registered

You can contact your Singapore online incorporation service provider in order to track the status of registration process of your company.

Choosing the right company structure

You need to consider your company structure with care, as your income tax return can vary depending on it. You should understand the different compliance levels of different company structure, if you are planning to enroll your company. For instance, a single proprietor needs to register an income tax return.

It is mandate for a company to audit their book of accounts every year. If you want to register your enterprise, you must consider the right company structure, having a clear idea of the type of legal compliances you can deal with.

Edward Bertrand