Singapore company registration requires a number of individuals who must be members of a particular company that is going to be registered. According to the law of Singapore, every Singaporean business that is to be registered requires individuals like a shareholder, a director, and a company secretary. Having one resident director placed in Singapore is mandatory for every company or organization registered under Singaporean law. One director must be from Singapore who is located in the country itself. The director can be a citizen of the country, a person with a genuine dependent pass or an employment pass or a permanent resident of Singapore. Apart from this director a company can have several other directors just that they must not be bankrupted, or under-aged or have any criminal record.
As long as shareholders are considered the companies of Singapore that are privately limited can have 1 to 50 shareholders who can be local as well as foreign entities. After the process of company registration is complete in Singapore, the organization or company must select a company secretary. This appointment of the secretary must be done within six months from registration. A company cannot have a secretary as a sole shareholder of the company or a single director of the organization. The secretary must be a person residing in Singapore. There are few other extra requirements for the capital invested and the address registered for the company that is to be incorporated in Singapore. It is mandatory to pay a minimum of one Singaporean Dollar as paid-up capital. However one can increase this amount about the completion of the incorporation process. Apart from this, a Singaporean business must have a local address of Singapore. This address can be a commercial or a residential address but cannot be a post office box.
The concept of virtual office has made a mark in different industries. The primary reason behind it is the flexibility enjoyed by the employees and also the freelancers. They can work from their satellite office, remote locations, home and also when on-the-go using a mobile or similar device. This feature attracts people towards the virtual office concept. The employees and clients of a company get a stable office at home or any suitable space along with it they also get access to amenities like conference rooms, receptionist, desk space, printing at a particular address, faxing at a permanent address, mailbox, etc. These amenities are maintained and owned by a third party or by a virtual office provider. The providers of the virtual office often include web hosting, cloud storage, web-based applications, and email.
The virtual office for