By Vlad Cuc, specialist in company formation matters
Singapore is a great investment destination for foreign businessmen that have many possibilities of opening companies in different industries. Foreign investors can set up a new company or purchase an already registered one. The main advantage of the registered or shelf company, as many people refer to it, is the fact that being registered it does not need to go through the whole incorporation procedure again.
The first and probably most significant advantage of buying a shelf company in Singapore is the time an investor can save with the incorporation. It is a well-known fact that a company’s reputation is built throughout the years, so investors can choose to buy aged companies that will provide them with the reputation they require. Foreign investors must also know that a wide range of shelf companies are available for purchase and our experts in company formation in Singapore will offer the best solutions available. Clients can consult with our specialists and select between shelf private or public limited liability companies and companies limited by shares. Another benefit of shelf companies is that through them, investors get the possibility of obtaining loans without much effort and finding better business opportunities through a shelf company with an established reputation than by opening a new company in Singapore.
As ready-made companies are registered at the time of the purchase in Singapore, they will have a name, the statutory documents which will contain the names of shareholders and directors and the secretary. Additionally, Singapore shelf companies are registered with the tax authorities, and thus have a tax registration and a GST number in order to start operating immediately. They will also have a corporate bank account.
Since the Company Law is tailored to provide to the needs of foreign investors, one should know that changing the company structure is possible in Singapore.
Our Singapore company formation consultants can assist in the relation with the Accounting and Regulatory Authority in the city-state by mediating the changes brought to shelf companies.
You can also read about how to buy a shelf company in Singapore in the scheme below:
The registration procedure of a ready-made company is quite simple in Singapore. Once the investor has chosen the appropriate type of structure and established all the details with the seller, a sale-purchase contract will be prepared, followed by the transfer of ownership. After the contract is signed, our specialists in company registration in Singapore will amend the Articles of Association, if required, and submit it together with the other necessary documents with the Companies Register. Foreign enterprisers must know that they are allowed to appoint a new director and secretary for the recently purchased shelf company according to the Companies Law in Singapore.
Foreign investors can ask for additional services when purchasing a shelf company with our company formation representatives in Singapore. We offer a wide range of accounting and nominee services, among which the most sought are the nominee shareholder, director and secretary services. Apart from these, foreign investors can also rely on us if they need virtual CFO services. We can also assist foreign investors when choosing between a shelf or a new company.
Find out from the video below why buy a shelf company in Singapore:
For details on how to open a company in Singapore and prices for shelf companies you can contact our specialists.
Furthermore, businessmen interested in setting up this type of company in a European country, for example in Estonia, can find out more details on how to start a company in Estonia from our local partners. If you are interested in setting up a company in Austria or registering a company in Serbia,we can also help you with information from our affiliate partners. In case you need professional company formation services in Switzerland, you can contact our partners - Experten in Firmengründung in der Schweiz. We can also put you in touch with our partners in UAE if you want to hire a special Ferrari in Dubai.