How Do I Register a Business in Singapore

Most entrepreneurs, when they opt for a Singapore business registration, start a private limited company. However, depending on your business needs, the risk involved, and the liability you are ready to commit to, you can also use other business structures.

Choose the Right Legal Structure

In addition to a private limited company, you can also form your business as a Sole Proprietorship or Limited Liability Partnership (LLP). You need to be careful here, as your choice can impact your liability and tax amount. It can also affect a business’ tax amount, branding, credibility, and fundraising ability.

Singapore government helps new businesses in their initial days. The government offers them various grants and tax incentive and help them take roots. The low corporate tax rate lowers their overhead costs. This support gives them a breathing space to find a foothold or a niche to cling to.

You can claim these benefits for your business only if it is a locally registered private limited company. You also need to maintain their management in Singapore.

How to Register a Private Limited Company

You need to apply to the Company Registrar of Singapore to register your company. A government agency named Accounting and Corporate Regulatory Authority (ACRA) acts in this capacity.

For your Singapore business registration, a company or a business firm like a sole proprietorship or an LLP, you need to apply to ACRA. If you are a foreigner, you can appoint a Singapore business registration services provider to take care of the task.

The process for Singapore company registration is streamlined and has only two procedures.

Get company name approved from ACRA
Apply to ACRA for your company registration
1# Get Company Name Approved from ACRA

You need to choose a unique, meaningful, and decent company name. It will improve the chance of getting it approved by the ACRA. If you have appointed an agent to form your business, send them a list of 3-7 company names.

Their experts will check the names for availability on the ACRA’s website. They will register the available company name by paying an official fee of S$15.

2# Apply for Singapore Company Registration

ACRA acts as the Company Registrar of Singapore. And you need to apply to ACRA to register your business. You must submit all incorporation and KYC documents along with your application. You also must pay an official fee of S$300 in processing fee.

ACRA may take 1-3 days to process your application. After the successful Singapore business registration, ACRA sends you an email. You can use it as an Incorporation Certificate in Singapore. It contains details of your newly registered company like; Unique Entity Number (UEN), business profile, Etc.

If ACRA forwards your application to a Ministry, it may delay the approval by up to 2 months.

Pre-Incorporation Requirements

Before you decide to initiate the Singapore business registration process, you must fulfill a few of the pre-incorporation criteria. They are as listed below:

Company Shareholders

You need at least one shareholder to start your private limited company. It can have up to 50 shareholders. A shareholder in a company can also be its director.

An individual, a company, or a trust can be a shareholder in a Singapore company. If you are the sole foreign shareholder, then Singapore allows you 100% shareholding in your company.

Local or Resident Director

You need to appoint at least one resident director who is ordinarily a resident of Singapore. You can appoint a Singaporean citizen, permanent resident, or an entrepreneur or employment pass holder.

You must also see that the appointee is over 18 years of age and is not bankrupt or has a criminal history.

Company Secretary

As per the Company Act, you must appoint at least one company secretary within six months of the formation of your company. You need to select a qualified and experienced individual who knows the Company’s Law and is ordinarily a resident of Singapore.

You can appoint a Singaporean or permanent resident or a holder of employment, entrepreneur, S, or a dependent pass. A sole director of a company cannot be its company secretary.

Minimum Initial Paid-Up Capital

You need S$1 in the minimum initial paid-up capital for your Singapore business registration. You can increase the company’s capital at any point in time after the formation of your company.

Local Registered Address

You must provide a registered physical address in Singapore for your company office. It has to be an address of a residential or commercial place. P.O. box address is not valid.

Simplify Your Singapore Business Registration

Many local business owners appoint a Singapore business registration services provider for the task. Many a time, they choose a registered filing agent.

These agents are authorized to interact with government agencies, submit documents, and pay the official charges. They have incorporation experts to advise you on your business formation and simplify it.

If you do not have a local director, your provider can arrange a nominee director. You can also pay these firms for a local registered address or a company secretary. They may also assist you in opening a corporate bank account for your new company.

Singapore is a great business hub to start your new business. It ranks in 2nd place for the ‘Ease of Doing Business.’ It is the reason why Singapore business registration is popular. It is a fast process, and you need only 1-3 days to form a new business in Singapore.

Life-Fitness Equipment – Understand the Concept

Once you initiate a fitness training program, a bodybuilding program or any other training regimen to amplify your health and physical fitness, you have the option of registering in a local fitness center or gym, or setting up your home gym. Home fitness equipment are currently very popular due to their convenience and easy acquisition. It is in this acquisition process of home gym equipment that the concept of life fitness equipment accrues.

Introducing Life Fitness equipment

The phrase life fitness equipment refers to the lifetime equipment acquisition whereby the equipment you buy is warranted for their life duration. In short, therefore, life fitness equipment refers to lifetime fitness equipment. Those who have encountered the term may not be totally familiar with the concept. If however you are intent on setting up a home gym for your physical fitness training of bodybuilding, it is important that you consider the importance and the essential meaning of lifetime equipment.

Purchasing lifetime or life fitness equipment means that the equipment you purchase come with a lifetime warranty. That is just about the best deal available in your local exercise equipment store.

Why Life fitness Equipment is a Viable Choice

The following are some of the reasons why you might consider buying life fitness equipment:

Fitness aids and equipment are very expensive and not the kind of investments you would wish to be buying every now and then if you can avoid it
With regular exercises, common fitness aides and equipment usually break down and become dysfunctional such that they hinder beneficial workouts unless you buy a replacement
Insurance covers for your home gym equipment is a more expensive option when it comes to break down, wear and tear
The convenience of knowing that your equipment will be serviced or replaced anytime it stops working efficiently, instead of having to carry out another odious shopping
In short, life fitness equipment might end up saving you a lot of time, money and trouble. Almost all types of equipment will and do break down with continued use. Whether it is furniture, cell phones, vehicles, machines or whatever else, breakage and wear and tear is a norm in the use of machines.

Your equipment is also as prone to breakage and wear and tear. You therefore need the assurance of a lifetime guarantee that the equipment will always be replaceable and or repairable at no additional cost. That is the essence of lifetime warranty carried by life fitness equipment.

Conclusion

Fitness equipment is a formidable investment. Setting up a home gym is something that should be covered by a warranty or insurance of sorts. In this regard, life fitness equipment is just about the best available option. Ideally, the lifetime warranty is offered by manufacturers and extended by equipment stores and other retailers within your local setting. Ensure that you check for such provisions when buying your home gym equipment and specifically ask for the equipment that carries with it a lifetime warranty. Additionally ensure that:

1. The price is acceptable in comparison with the normal pricing of the equipment i.e. It should not go beyond 20% of the normal price

2. The condition of the equipment while at the fitness equipment store should be brand new and functional

3. The lifetime warranty documentation properly signed by the equipment store as provided for by the manufacturer

4. The terms spelt out in the lifetime warranty to include replacement and repairs without excluding your typical usage of the equipment i.e. Some contracts will exclude electrical-fault-caused damage from warranty cover which is a trick you must avoid

5. The reliability and or dependability of the local store or manufacturer to follow through on their word based on their track record, customer support and customer satisfaction history

There is a link between a bodybuilding lifestyle and optimal health. Once an individual strikes that link, he or she attains optimal physical fitness as a by-product. With the right information, you can easily set up a training regimen that is centered on bodybuilding health. From this program, muscle mass and strength will accrue and with it physical fitness.

Most Awaited Motorcycles to Be Launched

You all are familiar with the word motorcycle. It does not really matter if you own a car or not, somewhere in the back of your mind, you have fantasized about riding a bike. You might have ridden bikes like the Kawasaki Versys 1000LT, Ducati Scrambler and Yamaha FJ-09 this year. But the innovation never comes to an end and new bikes are always ready to be launched around the end of the year. Below are the 10 motorcycles, which you would be able to ride, to move to the New Year “2016″.1. Kawasaki H2/H2RIt lies at the top of the list of bikes to be ridden. Its chain and gear driven blower rotates 10 times the speed of a crankshaft with a 200 plus mph machine. H2 is known for its straight line ability and speed, which are controlled by the best suspension and brakes of the heavy motorbike.2. Ducati 1299 Panigale SThis is the first production of Ducati, who has broken its own record of 200-horsepower. Its 1285 cc Superquadro V-twin engine produces 106.7 pound-feet force at 8,750 RPM and gives 205-horsepower at 10,500 RPM.3. Yamaha YZF-R1Yamaha has been known for making superb bikes. The latest bike, Yamaha YZF-R1 features big valves, cross plane crank, compact combustion chambers, titanium connecting rods, higher 13:1 compression and the most important and powerful 998cc 4-cylinder engine. To keep a trace on the weight it has introduced titanium exhausts, LED lights and magnesium wheels.4. Honda RC213V-SThis model was unveiled at the EICMA bike show in Milan. Its design is made to steal the attention from Yamaha YZF-R1, Ducati 1299 Panigale S and Kawasaki H2/H2R.5. Ducati Multistrada 1200SThe Desmodromic Variable timing works with the powerful 1199cc Testastretta V-twin engine to bring wonders to the ride. It features broad midrange power, an excellent top end, which is kept open, superb low-end torque, semi-active suspensions and enhanced electronics.6. BMW S1000XRThe new BMW S1000XR is made to rule the roads. It is introduced with huge windscreen, comfortable seats and latest electronics set with four-cylinders to provide powerful performance.7. Husqvarna 701 SupermotoHusky unveiled 701 Supermoto at the EICMA bike show in Milan. To make it delightful for the riders it features KTM based 690cc single cylinder engine, narrow chassis, WP suspension, grippy rubber and big brakes to control the Supermoto.8. KTM 1290 Super AdventureKTM 1290 Super Adventure motorbike is typically known for its superb 1301cc LC8 V-twin engine. For the much awaiting riders it has embraced the bike with LED cornering lights, semi-active WP suspension, 7.9-gallon fuel tank, heated grips and latest electronic suite with traction control, and lean-sensitive ABS.9. Suzuki GSX-S1000 ABSWhile making the bike, Suzuki focused on providing a powerful bike, as well as comfort and safety to the rider. It features servo actuated exhaust valve and aluminum frame with three mode traction control.10. Harley-Davidson LiveWireLiveWire was not a plan of Harley this year, but due to the impressive feedback of a few bikes which used this, they manufactured a bike with this feature. It is a bike with three-phase DC motor, lithium-ion battery, aluminum frame that can reach a speed of 95 mph easily.