It is much common for people to start up their own companies with this day and age. This is because starting a company basically means that one is his or her own boss, to decide what is to be done in the company and what is not to be done. This also means that you are not under anyone who dictates the time that you get to work and the kind of work that you do. There are very many advantages that come with starting up a company. However, incorporation of company in Singapore can be a very hectic thing when it comes to the legal procedures that one needs to follow. In company registration, there are certain things that one needs to know in order to pull out a successful startup process.
The first thing that one needs to do is a name search. One needs to decide on the name of the company, which is an essential and very important part of a company. One can choose to do this on his own or hire the services of a firm to choose the most suitable name for them.
The next thing is to prepare the article of association and the business memorandum. This is basically putting down the rules and regulations, the objectives of the business, the subscribers of the company and basically the capital share that is authorized.
Paying the stamp duty is the next step that follows. This is done by collecting the necessary forms from the registrar of companies for example the companies house in UK and making the necessary payments for the Ltd company that you are starting up.
After this, there are other regulations that need to be followed and must be adhered to.