This is a big decision that you need to make regarding your organization. A decision such as this requires a lot of though and careful evaluation so here are a few tips of process that you need to follow to make sure that you make the wrong decision.
Decide if your company will benefit from this decision
Incorporating a company can give you many benefits. This process can limit your personal liability and allow an easy transfer to other if it is needed. This will enable you to legitimize your business, make the organization public, issue stocks to employees, your organization can out live you and reduce your liability by transferring ownership of the organization. Therefore you need to decide if these are options that you want for your business and which of these you want to benefit from the most. If these are not benefits that you are looking for then you may want to rethink this whole process.
Decide on your board of direcotrs
This os one of the most important steps in this process. Generally the board of directors are appointed by the company shareholders. The board will frist consist of the CEO of the organozation and then the other members will most likely be appointed after the bussiness is established. This board is leagaly obligated to act and make decisions that are in the organoization’s best interest therefore you need to be sure that whom you appoint from your organozation will act in the company’s best interest.
The shareholders of the company
This is an important factor when incorporating a company. Major shareholders are responsible for electing the board and financially to support the organization. Therefore when you are incorporation you should consult your stockholders and the decision should be agreed upon.
Hire a lawyer
It is always best to have the support of and attorney throughout the whole process. This should be form the very start where you are considering the benefits of this to the point where you make the final decision. The paper work and the laws and regulations are complicated so without careful consultation you may end up making the wrong decision that can result in a major loss.
Besides these make sure that you find out all the necessary details before hand. It is important to fully understanding the process before you make any decisions. Even if you have a lawyer you need to be sure that you know what is going on so that you can make decisions based on all the facts available so that you will make right decision for your business. Click this link http://www.helencampos.com/singapore-permanent-residence-under-pts-scheme/ for more information about Singapore PR.