How to obtain a Shelf Company in Singapore?

A Shelf Company is a legal entity which is already created and fully operational, and it is also known as Shelf Corporation. Shelf Company is registered under the law, and there is no activity conducted by this company. This company is acquired by directors who do not want to go through the whole process of company formation. This company is also considered a readymade company that can be brought by any businessmen. Singapore is one of the best investment countries with various possibilities for establishing companies for foreign business people. Investors can also purchase an already registered company or setup up a new company. Whether to set up a new company or buy a Shelf Company in Singapore always depends on the investor's intention to use the company. Shelf Company in Singapore does not need to go through the whole registration process. Scroll down to check more information regarding a Shelf Company in Singapore.

What are the benefits of a Shelf Company in Singapore?

Following are some benefits of a Shelf Company in Singapore:

• Agreements: This Shelf Company's facilities help in smoothing the functions of the business in Singapore.
• Double Taxation Avoidance Agreements (DTAA): Singapore is one of the country who has entered into Double Taxation Avoidance Agreements (DTAA) with particular authorities.
• Several Government Agencies: With the help of perfect and smooth co-operation of various agencies, Singapore has successfully run its business bureaucracy and markets to help the business run and work very smoothly.
• Intellectual Property Rights law (IPR): This law in Singapore very tough and harsh. Hence, all the protocols under these laws are followed when it comes to IP Enforcement. Hence, your ideas can be protected till the renewal period of the registration.

What is the essential information required at the time a Shelf Company Registration in Singapore?

Following are some crucial information required to apply for Shelf Company in Singapore:

1. Provide all the details of the new appointment of Board of Director.
2. Identity card of company’s directors.
3. Identity card of company’s shareholders or members.
4. Provide an exact address of the place proposed to be the registered office.
5. All the detailed information of the new shareholder of the company.
6. New name of the company.

Vital documents required for the Shelf Company Registration in Singapore

Following are some vital documents required at the time of registration of a Shelf Company in Singapore:

1. Detailed summary of all the business activities.
2. Identity card and details of directors of the company.
3. Identity card and details of the shareholders.
4. Registered address proof of the recommended company.
5. Details of the business commenced.
6. Name of the company.

Procedure of a Shelf Company Registration in Singapore

Following is the registration process for a Shelf Company in Singapore:

1. First, you have to choose an effective and right business or company structure.
2. Once you choose the right company structure, go through all the agreement details with the seller.
3. Sign the purchase contract.
4. After signing the purchase contract, proceed further with the transfer of ownership.
5. Update AOA (Articles of Association) that is in accordance with the Companies Act.
6. After that, you have to submit all the documents to the governing body.

Different Government Agencies help in growing business in Singapore

Following are some different government agencies that help in growing business:

1- Enterprise in Singapore: This enterprise is the government agency in Singapore dedicated to the field of enterprise development.

2- Accounting and Corporate Regulatory Authority (ACRA): It regulates and supervises the following:

1. Companies Incorporation.
2. Provides updates related to the new business structures.
3. It also regulates business entities and public accountants.
4. It also provides support in meeting different compliance requirements and ensure proper corporate governance practices.

3- SMEPortal.sg: This government site is a one-stop site for an enterprise that are eager to sustain, start, and grow their business, and it also helps the industries in managing and links to the government services & information.

4- EDB or Economic Development Board: This is the government broad investor support system which confirms an outstanding pro-business environment in Singapore.

5- Shelf Company in Singapore: It is also known as an existing company or readymade company or aged company, which has a registered company's status. These companies have not operated any activities related to the business or trading, but these companies are already registered and ready for purchase and after purchasing operations can be started instantly. Also, these companies are pre-existing, and they don't have any pre-existing liabilities or contracts.

Conclusion:

Like any other company incorporated in Singapore, a shelf company is also required to meet all the registration requirements to carry out its business transactions. If you would like to establish and register your new business without going through the complicated filing process, then seek a professional who will guide you through the procedure.