Singapore company formation by danielyio
Aug 05, 2010 | 1336 views | 0 0 comments | 2 2 recommendations | email to a friend | print | permalink

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Singapore Business Registration for Foreign and International Companies
by danielyio
Oct 05, 2010 | 3465 views | 0 0 comments | 33 33 recommendations | email to a friend | print | permalink

The registration process of companies in Singapore is relatively easy for most foreign enterprises and individuals, especially if they have a good reputation and track record, entrepreneurial skills and sound business plan.

Singapore company registration business AsiaBiz Services Company Law requires all foreign enterprises and individuals a professional company who rent their business applications in its process name.

"It is important to note the record, which is prohibited under the Singapore Companies Act, foreigners are owners of their companies. In this way we can avoid dealing with corporate policies and laws that can lead to sanctions," the company.

Currently, there are three divisions to adopt structures of foreign firms to operate in Singapore. This is the representation of the ideal starting point for studies and market research, establishment, is considered as an extension of its parent and subsidiary, is treated as a separate legal entity from its headquarters.

A representative office is ideal for companies wishing to explore business opportunities in the country and is prohibited in all income-generating activities to participate.

"While this office is only permitted for non-commercial activities such as market research, monitor the activities of the parent company of local distributors and agents and providing non-technical customer service, this configuration is very suitable for foreign companies seek to ensure that their business profitability before large investments, "said AsiaBiz.

For foreign companies involved in commercial revenue generating activities, and recommended the registration of a trade specialist to log on to a subsidiary or branch in Singapore.

However, these two business structures, advantages and disadvantages that should be considered strong.

A subsidiary, offers all the tax benefits and exemptions to all local authorities, although entirely by a foreign company or person possessed.

Meanwhile, a disadvantage that have a subsidiary to its management and control systems in Singapore.

Still, most foreign companies prefer this configuration as a limited liability enjoyed, especially, financial liabilities for losses and debts of their company based in Singapore.

Moreover, a branch is covered in the legislation as an extension of his father, and as a result, not eligible for incentives and exemptions from local taxes rather than a subsidiary.

In addition, foreign companies do not enjoy limited liability, which protects them from the economic losses are established.

However, one advantage of the solution that foreign firms enjoy greater control over its subsidiary in Singapore.

AsiaBiz is a company that provide Singapore branch office services to local and foreign entrepreneurs and investors and offer consultation regarding the immigration and taxation law, accounting and book keeping requirements, and other compliance matters stated under the Singapore law.

For more information:

AsiaBizServices.com

address: 120 Telok Ayer Street Singapore 068589

phone: 6563034614

website: http://www.asiabizservices.com/

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Singapore Changi Airport Garners Six “Best Airport” Awards
by danielyio
Sep 23, 2010 | 3508 views | 0 0 comments | 33 33 recommendations | email to a friend | print | permalink

September 23, 2010 - For its continued excellence in the past two months, Singapore’s Changi Airport was given six “Best Airport Awards” by leading travel organizations in the world, the Changi Airport Group announced on Tuesday.

For the past 22 years, readers of the UK-based travel publication Business Traveler named Changi as the “Best Airport in the World” in its annual Business Traveler Awards.

Also, UK-based Conde Nast Traveler has named the Singapore airport as the best in the world for the sixth consecutive time in its Readers’ Travel Awards 2010 for its highly rated facilities and dining.

Meanwhile, across the Atlantic Ocean, Conde Nast Traveler counterpart in the United States has also named Changi as the “Best International Airport” in the world for the seventh time in its annual Business Travel Awards.

According to the US-based publication, Changi Airport was able to top all subcategories for the award – including amenities, shops, foods, connectivity, comfort and design.

For the 19th consecutive years, readers of the Business Traveler Asia-Pacific also picked the Singapore airport as the best in the world; while China’s leading trade publication TravelWeekly-China has given the “Best International Airport” award to Changi during its China Travel and Meeting Industry Awards 2010.

Changi also topped the online polls conducted by Smart Travel Asia in its Top 10 airports Worldwide for three straight years.

Changi Airport Group chief executive Lee Seow Hiang attributed the continued success of the airport to their commitment to provide passengers the best service they can have every time they visit Singapore.

Based on records, Changi Airport has garnered more than 350 “Best Airport Awards” since its opening in 1981.

More Information:

AsiaBizServices is the leading provider of Business Solutions in Singapore and has successfully helped thousands of foreign and local entrepreneurs incorporate a Singapore Company.

AsiaBizServices.com

address: 120 Telok Ayer Street Singapore 068589

phone: 6563034614

email: sales@asiabizservices.com

website: http://www.asiabizservices.com/

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All About the Singapore Representative Office
by danielyio
Sep 22, 2010 | 3316 views | 0 0 comments | 32 32 recommendations | email to a friend | print | permalink

September 22, 2010 - There are three business models a foreign company can adopt if it wants to have a presence in Singapore: a subsidiary company, branch office, or representative office which is ideal for companies wanting to explore the viability of their business before plunging into a full-blown operation.

“A representative office is usually popular among foreign companies that are operating in a speculative market and want to know if they have a high success rate in the country,” business solutions provider AsiaBiz Services said.

In legal terms, a representative office is an extension of a foreign parent company.  With this arrangement, the main headquarter is directly liable for the acts, losses, and debts of its Singapore representative office.

Meanwhile, foreign companies should consider that a representative office is only allowed to conduct market research and other non-commercial activities that should not generate revenue.

“It is important to note that a representative office is not really a legal business entity per se since its activities are very limited,” AsiaBiz said.

According to the business registration firm, these are the only activities a representative office can be engaged to: oversee the activities of its foreign parent company; provide customer assistance that will not involve repair or technical services; and perform market research to determine the viability of its parent company’s nature of business.

Foreign companies and businessmen should only see a representative as a short-term arrangement since the government does not allow anyone to operate this for more than three years.

To legally operate a representative office, a chief agent from the main headquarter must be relocated in Singapore to supervise the activities of this office.  Aside from this requirement, foreign companies are only allowed to hire a limited number of staff, both local and foreign, who will run the operation and activities of its Singapore-based auxiliary office.

Because foreign companies and businessmen are prohibited to register their own business in Singapore, it is a legal requirement to appoint a professional registration firm that will act on their behalf during the application process.

“This requirement is stated under the Singapore Companies Act in an effort to prevent foreign companies from overlooking corporate policies and law,” AsiaBiz added.

To register a Singapore representative office to the International Enterprise Singapore, foreign companies should provide these following documents: registration of foreign company or its certified copy of the Certificate of Incorporation; copy of audited financial statements; and copy of the headquarter’s latest annual report.

For more information:

AsiaBizServices.com

address: 120 Telok Ayer Street Singapore 068589

phone:  6563034614

email: sales@asiabizservices.com

website: http://www.asiabizservices.com/

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Singapore Company Incorporation: What You Need to Know
by danielyio
Sep 21, 2010 | 3745 views | 0 0 comments | 29 29 recommendations | email to a friend | print | permalink

September 21, 2010 - In an effort to attract foreign companies and businessmen to invest and setup a Singapore company, the government has lowered the corporate tax rate from 18 to 17 percent in 2007.  And if this is not enough, the country follows a single tier tax system which means that tax are deducted from the corporate level while the shareholder’s dividends are excluded.

“When it comes to tax benefits, Singapore corporation is very attractive that the country attracts thousands of foreign companies and investors every year,” business registration specialist AsiaBiz Services said.

Aside from the tax advantages, this business entity also provides limited liability protection which means that shareholders will not lose their personal assets such as their cars and houses in case of bankruptcy.

“The limited liability arrangement is the main feature of corporation.  And with this, local and foreign businessmen and investors will have a security that their personal assets cannot be liquidated to pay off their business’ debts and losses,” the professional firm added.

Another advantage of a corporation is that the business can enjoy “perpetual operation” unless the shareholders have decided to dissolve the company or merge with another business organization.

“Being a separate legal entity from the people who run and own the business, a corporation can exist regardless of the change in management or shareholders,” AsiaBiz said.

Meanwhile, a corporation comes in two categories: a private limited company which has less than 50 shareholders who are responsible for raising funds, and a public limited company which may have more than 50 shareholders who can invite the public to deposit money in order to raise capital.

“When it comes to tax benefits and exemptions, a private limited company provides more advantages.  For example, a newly incorporated private limited company can enjoy 100 percent tax exemption on its first S$100,000 chargeable income within three years of being incorporated,” the registration firm said.

However, AsiaBiz said that a public company is sometimes better especially when shareholders need to raise funds for their business expansion without the need to get bank loans which are always associated with high interest rates.  

But to turn into a public company, a corporation should be registered to the Singapore Exchange and the Monetary Authority of Singapore.   

It is important to note that a public company may delist itself from the stocks exchange if the shareholders have decided to return to a private limited company.

AsiaBiz is a company that provides Singapore branch office  services to local and foreign entrepreneurs and investors and offer consultation regarding the immigration and taxation law, accounting and book keeping requirements, and other compliance matters stated under the Singapore law.

For more information:

AsiaBizServices.com

address: 120 Telok Ayer Street Singapore 068589

phone:  6563034614

email: sales@asiabizservices.com

website: http://www.asiabizservices.com/

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Singapore Subsidiary Company: Feasible Singapore Business Model
by danielyio
Sep 16, 2010 | 2023 views | 0 0 comments | 25 25 recommendations | email to a friend | print | permalink

September 15, 2010 - There are three business models which foreign business owners, shareholders, and companies can use in order to effectively and legally operate in Singapore namely: a subsidiary company, representative office, and branch office which have their own purposes and goals.

According to the leading Singapore Subsidiary Company registration company AsiaBiz, it is vital for foreign entrepreneurs to correctly set their objectives before adopting the type business model they want to operate.

“Each of these business models has a specific purpose which ideally should be thoroughly considered in order to ensure a successful company or auxiliary entity in Singapore, AsiaBiz spokesman said during an interview.

For entrepreneurs planning to conduct in market research, the firm believes that a Singapore representative office is usually the most ideal, particularly for foreign company owners who are not yet sure of the viability of their business in the country.

It is important however to note that a representative office is prohibited to engage in any activities that will generate revenue since it is not considered as a business entity per se.

Generally, this auxiliary office is seen as a short-term arrangement since the government does not allow this to operate for more than three years as it deems that this period is enough for foreign companies to determine the profitability of their services or goods.

According to AsiaBiz, a representative office may upgrade to a subsidiary company or branch office if it wants to continue its presence in the country and engage in a full-blown operation.  However, the company said that these two business models have differences that must be considered.

First, a subsidiary company is allowed to engage in any business activities unlike a branch office which should only perform the undertaking of its parent company.

Another difference is that a subsidiary company is treated as a separate legal entity from its main office unlike a branch office which is considered as an extension of its parent company.  With this arrangement, a branch office does not enjoy local tax benefits while a subsidiary company is eligible for these advantages.

Also, a foreign company with a branch office is legally liable for the latter’s losses, liabilities, and debts.  This is not the case for a subsidiary office in which its parent company enjoys limited liability protection.

“Because of the advantages of being a subsidiary company, most foreign entrepreneurs, investors, and business organizations prefer this model over a branch office,” AsiaBiz said.

However, note that that foreign businessmen are prohibited to self-register their own Singapore company which means they are required to hire a professional firm that will conduct the processes involving business registration.

More information on how to form a Singapore company. AsiaBiz has successfully helped thousands of foreign entrepreneurs who wish to form a Singapore company by securing their work visas using employment pass route once they have incorporated a Singapore Company.


For more information:


AsiaBizServices.com

address: 120 Telok Ayer Street Singapore 068589

phone:   6563034614

email: sales@asiabizservices.com

website: http://www.asiabizservices.com/

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Singapore Subsidiary Company: The Most Ideal Business Entity for Foreign Entrepreneurs
by danielyio
Sep 15, 2010 | 1750 views | 0 0 comments | 9 9 recommendations | email to a friend | print | permalink

Singapore Business registration firm AsiaBizServices believes that a subsidiary company is the most ideal business formation for foreign companies and entrepreneurs who want to expand their operation to Singapore.

“There are three business formations a foreign company or businessman can adopt—a representative office, branch office, and subsidiary company which we believe as the most ideal with its tax benefits, limited liability, and bankruptcy protection”, AsiaBizServices spokesman said.

A subsidiary company, which allows a 100 percent foreign ownership, can enjoy local tax benefits since it is incorporated in Singapore.  With this advantage, this business entity has become popular among foreign entrepreneurs and investors.

Another advantage is that a foreign company can enjoy limited liability which means that it is not legally liable for any losses, liabilities, and debts of its Singapore subsidiary company.

When it comes to tax benefits, a subsidiary company has countless to offer since it is treated as a local resident (being incorporated in Singapore).  This is not the case for a branch office which is considered as a legal extension of its parent company.

According to AsiaBizServices, a subsidiary company may have a different name from its main office and is allowed to conduct any business activities as long as these are considered legal in the country.  Meanwhile, the business solutions provider added that this is not the case for a branch office which is only allowed to conduct activities performed by its parent company.

When it comes to disclosure requirement, a subsidiary company is better than a branch office since it is only obligated to submit its own audited account and not its parent company’s.  This arrangement does not apply to a branch office which may not be appealing to some foreign investors and businessmen.  

It is important to note that foreign businessmen and companies are prohibited by the government to self-register a subsidiary company or any business entity.  With this, they need to hire a professional firm that will conduct all the processes involved in business registration and compliance matters.

In addition, it is a requirement to appoint at least one local resident director who may be a Singaporean citizen or holder of Permanent Residence Status, EntrePass, or Employment Pass; designate a qualified resident secretary; and maintain a registered office address where a subsidiary company’s statutory documents are kept.

“There are several compliance matters which must be met so that foreign businessmen can legally operate a Singapore company.  With this consideration, they should hire a professional firm which must be accredited by the Accounting and Corporate Regulatory Authority (ACRA),” AsiaBizServices added.

Singapore EntrePass is a special employment pass designed specifically to facilitate the entry and stay of entrepreneurs who are ready to start a new business in Singapore. View more information on How to apply for a Singapore EntrePass to relocate to Singapore.

AsiaBizServices.com
address: 120 Telok Ayer Street Singapore 068589

phone:   6563034614

email: sales@asiabizservices.com

website: http://www.asiabizservices.com/

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Three Business Entities for Foreign Businessmen
by danielyio
Sep 14, 2010 | 1244 views | 0 0 comments | 6 6 recommendations | email to a friend | print | permalink

September 14, 2010 - With Singapore’s strong economy, world-class infrastructure, pragmatic government, and corporate tax benefits, the country has always been considered as one of the best business hubs in the Asia Pacific region.

With this, the city-state has created three business entities specifically for foreign businessmen and investors who want to have an auxiliary company in Singapore, according to business solutions provider AsiaBiz.

These business entities—the subsidiary company, branch office, and representative office have a specific purpose and advantages. With this consideration, any businessman should first determine their main goal and reasons why they want to form a Singapore company,” an AsiaBiz spokesman said.

For foreign businessmen and investors planning to engage in a full-blown operation, they may register a subsidiary company or branch office which are the two business entities allowed to perform the same activities of their parent company. But aside from this basic similarity, there is a significant difference between these two.

A subsidiary company, being locally incorporated, is considered as a separate legal entity from its parent company. With this, the main office cannot be legally held liable for losses, debts, and liabilities of its Singapore subsidiary company.

On the other hand, a branch office is considered as a legal extension of its parent company. With such arrangement, the headquarter is directly liable for all the debts, losses, and liabilities of its Singapore branch office.

Being a legal extension of its parent company, a branch office is also treated as a non-resident business and is taxed as a foreign entity. This is not the case for a subsidiary company which can enjoy local tax benefits since it is incorporated in Singapore.

With the advantages of a subsidiary company, AsiaBiz usually recommends this business entity to their foreign clients who want to form a Singapore company or have an auxiliary entity in the country.


AsiaBiz is a company that provides Singapore Subsidiary Company business services to local and foreign entrepreneurs and investors and offer consultation regarding the immigration and taxation law, accounting and book keeping requirements, and other compliance matters stated under the Singapore law.

For more information:

AsiaBizServices.com

address: 120 Telok Ayer Street Singapore 068589

phone:   6563034614

email: sales@asiabizservices.com

website: http://www.asiabizservices.com/

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Singapore very attractive for hedge fund managers says Singapore company formation
by danielyio
Aug 05, 2010 | 1103 views | 0 0 comments | 11 11 recommendations | email to a friend | print | permalink

 

Hedge funds startups in Singapore are on the rise after the central bank approved new rules that will exempt most funds from obtaining Capital Market Services licence.

Mr James Nuben of Asiabiz, a professional firm that provides Singapore Company Formation as well as work visa application thinks this is great news.

Hedge fund managers in Hong Kong face the same licensing requirements as mutual-fund managers. Singapore and Hong Kong are strong leading rivals for the global trillion-dollar hedge fund industry in the region.



“With the rest of the world tightening financial regulations on hedge funds, Singapore is making it easier for investors to incorporate a hedge fund company with lightweight regulations,” said Mr Nuben.

The number of new funds in 2009 fell from 13 to 26 per cent, making it the lowest drop since 2003. Mr Peter Douglas, principal of GFIA, which advises investors seeking to allocate money to hedge funds said: “The lack of clarity on Singapore’s rules last year made relocation to the city-state a difficult decision and cost business.”

After a consultation with the industry, Singapore’s central bank said in April that managers with less than S$250 million ($183 million) and serving not more than 30 qualified investors can submit a notification to the Monetary Authority of Singapore to be exempted from obtaining a Capital Markets Service licence.

To be eligible for this new rule, managers and their bigger licensed partners must maintain a minimum base capital of S$250,000 and have at least two directors.



“Singapore has recognized the needs of startups and smaller managers not to be overburdened by regulatory costs,” said Michael Coleman, chairman of the Singapore branch of the Alternative Investment Management Association.



“The proposed changes will, and already are, taking off the brakes that were applied because of regulatory uncertainty. Singapore is now fully back on the map as an attractive location for our industry,” said Mr Douglas who also runs a wealth management business on the island.

This move, according to Eurekahedge, prompted a boom for the industry as seven new hedge funds were set up in May and June. Although smaller hedge fund manager will not need to obtain a licence, they will still have to follow Singapore’s rules on securities, futures trading, and money laundering. According to MAS, the hedge fund industry grew to S$43 billion in 2009, with 320 hedge fund managers as compared to fewer than 20 managers before 2001.

“Singapore has been as sensible and forward thinking as they can be about growing the hedge funds industry,” said Peregrine Cust, founder of Prana Capital, which moved its investment team to Singapore from London in April.

“It’s a very high-margin business, it brings lots of highly paid professionals into the local economy. It’s not going to take them that long to take this industry to critical mass,” said Mr Cust.

Clifford Chance’s partner Ho Han Ming, who heads the law firm’s fund practice group in Singapore said more enquiries have been coming in since the rules were announced. Clifford Chance is one of the first international law firms awarded a Singapore license.

“A lot of guys are revamping their strategies, a lot of them are kick-starting their processes which they’ve put on hold,” said Mr Ho.

According to the Accounting and Corporate Regulatory Authority (ACRA), hedge fund managers who have registered their offices in Singapore include the US$1.5 billion London-based Algebris Investments LLP, and Fortress Investment Group LLC, which was the US$42 billion buyout and hedge-fund firm co-founded by Wesley Edens.

Singapore’s low personal income tax rate of 20 per cent is another attraction for managers from Europe to relocate. The United Kingdom recently increased personal income tax to 50 per cent while European regulators work on implementing tougher rules.

Singapore also bagged the number one spot as Asia’s most liveable city in a Mercer Consulting survey in May. Hedge fund giant Pure Capital is also “seriously considering” relocating its head office from London to Singapore. The firm had plans to move more of its operations to London last year in order to be closer to investors.

“Europe is going to very much become the ‘old world’ and get left behind. The hedge-fund industry will move towards Asia over decades to come,” said Anthony Limbrick, chairman and chief investment officer of Pure Capital.

“We may yet be a year or two away, but we like Singapore’s attitude to encouraging new business.”



Since 1998, AsiaBiz Services has been providing a highly professional Singapore company  incorporation services, both in attractive standard packages as well as customized services. Online incorporation being a hallmark service, other services of AsiaBiz include Offshore Incorporation, Singapore Employment Pass  /EntrePass /Personalized work Pass application, GST Registration.

Visit http://www.asiabizservices.com for more information about this topic and the services we provide for company incorporation in Singapore.

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