A company that is newly incorporated is a huge undertaking and goes through a variety of complicated procedures and phases for establishing a solid business base. The entire process of the incorporation is known as Company Formation or Company Registration. The laws treat the business being formed as an independent entity distinct from the person who founded the company or owns the company.
Numerous kinds of businesses are formed in Singapore every day, including public limited companies private limited companies unlimited companies and limited liability partnerships, restricted partnerships, royal charter community interest companies, and many others. All of them must undergo the process of company creation. Here you can find out more details about company formation in Singapore via https://www.wlp.com.sg/company-setup-singapore-all-you-need-to-know/.
In the past, all businesses were created on paper. However, today the majority of the formation process is conducted electronically through the Internet. When going through the formal process of filing papers the person who formed the company must provide various documents and an application fee to the Registrar of Companies. These documents comprise a memorandum of association as well as articles of association form 10 and form 12.
The electronic procedure differs from the paper procedure in only one manner; form 12(i.e. declaring the statutory requirement) must be filled out. To begin the process of electronically-based company creation, the company must use software capable of working with Companies House e-filing service and an account with Companies House. If neither of these is available and the business’s proprietor is not able to access them, the company could use the services offered by a company formation agent.