Singapore has come up as a global business hub in the last decade. Many people wish to set up their business in the nation and leverage its infrastructure and opportunities. Furthermore, the government offers friendly business policies and efficient tax rates to support investors and innovations. If you are planning to start a company here, then it is important to know about companies incorporation
Business Opportunities in Singapore
Singapore is a country with an extremely friendly business environment and taxation laws that allow foreign traders to establish their business in the most promising nation. There are various business opportunities for entrepreneurs with many popular business agencies and consulting firms getting established here.
The market in Singapore holds a variety of business opportunities because of customer buying capacity and its demographic location. You can decide on the type of business you want to start based on its operation and team size. You can set up your business by relocating your business to Singapore with an entrepreneur pass (Entrepass), or you can remain in your nation and let someone else hold your rights using an Employment Pass.
Singapore Company Incorporation Requirements
Before you plan to start establishing your business in Singapore, make sure you fulfil the list of designations mentioned below:
- Director: Director is an individual that should be a residential citizen of Singapore or any individual with Entrepass, Employment Pass, or Dependent Pass (with LOC).
- Shareholders: Shareholders can be foreign investors or can be local investors. There can also be a combination of both foreign and local investors. The director of the company can also be among the shareholders.
- A residential company address
- A company secretary
Steps for a Company Incorporation in Singapore
After fulfilling all the requirements mandatory for a business to establish in Singapore, you can proceed to incorporate your company by following some steps mentioned below:
- You need to fill the Singapore Company Registration form
- Ensure that all the documents required for registration are handy
- Choose a unique company name and register it
- It is necessary to sign the incorporation documents
- Induce the Accounting and Corporate Regulatory Authority (ACRA) to your business
- Make sure to open a bank account in a corporate bank with proper corporate resolution and other supporting documents.
As a foreign investor, it may be hard to carry out smooth work in following the above-laid procedures. 3E Accounting services helps you to set up your company in Singapore. We are the leading online registration service providers for companies who want to establish in Singapore.
We also help in acquiring a company seal Singapore to sponsor documents including share certificates and other contracts. If you are considering starting your own business in Singapore, we are obliged to help you throughout your journey.
