Singapore

Singapore is a small country located at the southern tip of the Malay Peninsula in South East Asia. As the country is small, it may be short on natural resources but that has not stopped it from becoming the third wealthiest country in the world. What the country may have lacked in natural resources, it made up for by its location which is on the main shipping route from the east to the west and vice versa. Due to its location, on the main shipping route, Singapore provided a large port for shipping and hence became the main hub for shipping between the east and west. As Singapore was the major hub for international shipping, many countries started to have at least offices in the country so that they could more easily transact international business from there. As the number of companies with a presence in Singapore grew, so did its economy and so the government of Singapore actively welcomed companies to come to their country, encouraging them to even register as a Singaporean company. For those companies which did just that, the government allowed them to enjoy low tax rates. Of course, with the promise of lower taxes, still more companies registered in Singapore and continue to do so to this day. As with any country however, Singapore, although welcoming companies to register, does insist that certain criteria are met before they can do so. This has prompted some businesses in Singapore, like Singapore Incorporation Service, to specialize in assisting foreign and new companies to meet the required criteria. The Singapore Incorporation Service website will show that there are three main areas where companies often find trouble with when wanting to meet the registration requirements and those are in the nomination of a director, the naming of a corporate secretary and the providing of a Singapore address. All of these things though, the website claims that Singapore Incorporation Service (SIS) can assist with. Obviously any company wishing to register in Singapore will already have at least one director but the problem is that the government insists on being given the name of a director who is a Singapore citizen or a permanent resident of Singapore. Although this could mean that a company would have to name yet another director, one that may not have an actual say in company business but will be the face of the company as far as the Singapore government is concerned. However, SIS claim that this requirement is not necessary if a director has a valid Singapore Employment permit which they can help them to obtain. Again, a corporate secretary has to be appointed who is a Singapore citizen and whilst there is no way around this regulation, SIS may offer their services as a Corporate Secretary. Lastly the address provided to the Singapore government cannot be just a PO Box; it must be a street address where a company office is located which is open during normal business hours. Once again, SIS can assist in meeting this requirement.