Acquiring a shelf company in Singapore is a straightforward process, offering businesses a quick way to establish a legal presence in the country. A shelf company is a pre-registered company that has been set up but has not conducted any business activities. Here's how you can acquire one:
Choose a Service Provider: Begin by selecting a reputable corporate service provider or law firm in Singapore that offers shelf company acquisition services. Ensure they have experience in helping foreign investors navigate local regulations.
Due Diligence: Conduct due diligence to ensure the shelf company you choose meets your business requirements. Verify the company’s compliance status, including any legal obligations, unpaid taxes, and the current directors and shareholders.
Select Your Shelf Company: Once you have completed your due diligence, choose the company that best fits your needs. Some providers offer different types of shelf companies, such as those with an established history or those that are completely clean.
Transfer Ownership: After choosing a company, you will need to complete the ownership transfer process. This involves appointing new directors, shareholders, and a company secretary, if necessary.
Update Company Information: Finally, update the company’s records with ACRA (Accounting and Corporate Regulatory Authority) to reflect the new ownership and structure.
Acquiring a shelf company can help you fast-track your business setup, giving you an immediate corporate presence in Singapore. However, it’s important to ensure all the legal and compliance requirements are thoroughly addressed.
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