Are you looking for the best destination to start your new business? Well, Singapore is the right place. It is one of the famous metropolitan cities in the world. Many people choose Singapore to start a new business. There are three business entities available in the country, such as sole proprietorship, private limited company, and limited liability partnership. You can select the business type which suits your needs. You can register the company and run it smoothly as well as securely in Singapore. If you are incorporating the company in Singapore, you should consider essential things. Here are some of the vital factors to keep in mind when incorporating the company in Singapore. 

• Name of the company 

One of the critical things that you should keep in mind is the company name. The business owner needs to receive approval for the name of the new company before they are incorporating the firm in Singapore. According to your business, you should select the company name. 

• Shareholders 

To register the company in Singapore, you must have between one and fifty shareholders. The shareholder is entities, individuals, foreigners, and others. You can convey the share to the shareholders after incorporation. The organization is measured as an exempt private company if they have twenty shareholders. EPC enjoys the audit exemption when the organization has fulfilled the needs of the small firm. Foreign ownership is also allowed to start the business in the country. 

• Registered address 

You should register the local company address for Singapore company incorporation. The address can be commercial or residential places in the country, but they cannot be the post office box. The owner of the property allowed to conduct the businesses with residential premises under the scheme of the home office. The home office scheme applies to private and HDB properties. Under this scheme, the application for approval can be submitted to URA or HDB after the company registration. 

• Director 

If you need to register the business in Singapore, then you should have at least one local director in the country. The individual can be a citizen or person with a valid dependent pass to start the business. You can hire lots of the director as you need. The business owner should ensure they should have at least 18 years old and have a clean criminal record. The director should not be a shareholder of any company in Singapore. 

• Company secretary 

Under the Companies Act Singapore, section 171, the individuals have six months to employ the talented company secretary just the once they incorporate. The shareholder cannot be the secretary of the company. The individuals should be an ordinary person living in the country to be a company secretary. 

These are essential factors to look out when incorporating the company. It helps you to register the company easily in Singapore. You can obtain a lot of benefits by incorporating the business in the country. It helps you to reduce the tax rate for small companies.