Register Your Company and Realize Your Dreams

Posted by Ai-Accountant on July 24th, 2019

It is the dream of many youngsters to start their own company. Many people have skills in some profession that they can use to start a business and build an empire. Everyone knows that there is no limit to your earnings when you have your own business. The expansions can be planned by you. There are limiting forces like that can be there when you work for a company. All you need is expertise in a field.

Decide On the Company Type

The first step to starting your business is to decide the type of company you want to start. There are broadly three types of companies you can form in Singapore. It can be a sole proprietorship company, a limited liability partnership or a private limited company. The type of company you want to start will decide on the business you are going to do, and the funds you will need.

The sole proprietorship offers you very little scope for getting funds for your business. You will be the sole controller but then all the liabilities will also be yours. A limited liability partnership is best if you are joining with a few other members of the same profession and want to offer services to the public. This will be a separate entity and the partners' personal assets won't attract claim in case of liabilities.

The private limited company is the best choice that will give you more opportunities for growth. The company can have as much as fifty shareholders. It can help in accumulating funds for the starting of the business and also for growth. The private limited company offers many opportunities for raising funds at a later stage as the shares can be changed hands for more money. This will not affect the functioning of the company.

Find a Good Consultant

A new entrepreneur must find a good consultant who will guide you on how to register a company in Singapore and also in fulfilling the requirements. You must check whether the consultant is competent enough to be with you even when your company has grown into a big corporate. The consultant must be adopting modern technology and always willing to modernize the company. The agency must also be able to provide you other services which will help you run the company without your having to waste your time for statutory requirements.

Completing the Incorporation Process

The incorporation process will be completed easily by the consultants as they are familiar with the process. The first step is to register the company name with the ACRA. Once it is done then you can submit the documents through the agent and get the company incorporated. The whole procedure will be completed within a couple of days if all the documents are perfect and you can meet all the requirements.

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Joined: January 14th, 2019
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