new company vs. shelf company in singapore
TRANSCRIPT
New Company Vs. Shelf Company in SingaporeA presentation brought to you by OpenCompanySingapore.com
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Ways to Start a Business in Singapore
• The Singapore Company Law is very flexible with foreign investors allowing them to establish different types of companies or to purchase shelf companies.
• If you want to open a company in Singapore and need assistance in selecting the right type of structure, our company formation agents can help you.
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Starting a New Company in Singapore
• Foreign investors wanting to register a new company in Singapore must first take into account the type of company they want to open.
• In order to determine what the suitable option is, they can request the services of consultants in company formation in Singapore who will help them.
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How to Register a New Business in Singapore
• Before starting the registration procedure for the Singapore company, one must make sure they have met all the requirements of the Company Act, among which:
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draft the Memorandum and Articles of Association of the company;
appoint a company secretary;
appoint a Singapore resident director;
have a registered address in Singapore.
Advantages of New Companies in Singapore
• Even if the shelf company has great advantages, some foreign entrepreneurs will decide in favor of registering a brand new company.
• Their decision is usually based on the fact that they can select from the beginning the type of structure they want to use and they also keep in mind the tax benefits they can take advantage of.
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The Shelf Company in Singapore
• Ready-made companies are previously registered companies which are put on a shelf, also known as shelf companies.
• The decision on whether to buy a shelf company or register a new one always depends on the investor’s intentions on how to use the entity.
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Buying a Shelf Company in Singapore
• Once the investor has chosen the suitable type of Singapore company and established the purchase details, the sale-purchase contract will be drafted in order for the transfer of ownership to be completed.
• After the transfer has taken place, the new owner may choose the modifications he or she wants to bring to the company.
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Advantages of Singapore Shelf Companies
• The necessity of starting operating as soon as possible is what usually drives foreign enterprisers to buy a Singapore shelf company.
• The reduced amount of time is also one of the greatest advantages when deciding between a shelf company and a new company in Singapore.
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Shelf Company or New Company in Singapore?
• An important advantage of a new company compared to a shelf company are the incorporation costs.
• Buying a shelf company is slightly more expensive than costs related to the registration of a new business.
• Shelf companies are also called aged companies because they have a history which can offer credibility before business partners and clients.
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Company Registration Services in Singapore
• If you need specialized assistance in making the right choice, you can request the services of our Singapore agents who will provide you with all information about each type of company so you can make an informed decision.
• If you want to set up a new company or buy a shelf company, please contact our Singapore company formation agents.
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Thank you for your attention!
For more information, please contact us at:
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www.opencompanysingapore.com11