How A Foreign Investor Can Start A Company In Singapore?
It is pretty easy to register a company in Singapore especially for foreign investors who need knowledge, information, and assistance for setting up a company and register it with the Singapore government. Singapore has been the most preferred investment destination for several foreign nationals because the processes and formalities are simple. Moreover, the government offers several taxes and other benefits of investing in the country. So if you are planning to invest in a country where you could gain excellent ROI, then Singapore should be our first choice.
How to Register A Company In Singapore?
The process and authorities are somewhat similar for both foreign investors as well as local Singaporean investors. Those foreigners who get company register in Singapore own its 100% shareholding without facing any difficulties. If you are over the age of 18 years, you are eligible to start a company in Singapore given that you have not been convicted of any legal offense or insolvency. Apart from Singapore residents, Permanent Residents (PR), and holders of Employment Pass, EntrePass, Dependents Pass, can also register a company and become its shareholders. The only thing is you have to be present physically in Singapore at the time of company Set Up.
What Are The Key Requirements For Foreigners To Set Up A New Business In Singapore?
The first and foremost thing that you need to do is to decide shareholders. You can choose local resident to act as the resident director and registering their company by yourself on the BizFile+ portal. The shareholders of the company must pass a resolution, should be over 18 years of age and of full legal capacity. An individual with undischarged bankruptcy cannot take this position.
However, foreign investors must:
- Appoint a local director.
- Engage someone to register their company, as they cannot themselves register their company in Singapore.
Choices in Appointing Local Director
- Option 1: Hire a Singaporean, Permanent Resident, or EntrePass holder as a local director.
- Option 2: Employ a nominee director for your new establishment.
- Option 3: Create a firm by first applying & acquiring EntrePass.
Registering a Singapore Company for Foreign Investors
There is a need to accomplish 2 procedures to set up a Singapore company.
Selecting an accurate business structure is crucial to effective company registration in Singapore. It can affect your business taxation.
A foreign investor can register the following businesses in Singapore:
- Private Limited Company
- Sole Proprietorship
- Limited Liability Partnership
In Singapore, registration of a foreign company is offered with great opportunities especially for SMEs from all over the globe. Depending on their business objectives, they can choose to create a:
- Subsidiary Company
- Branch Office
- Representative Office
To know more about how Singapore has simplified its rules to make it easy for foreign investors to set up a business in Singapore, you should take the help of a company registration services providing company that can make you aware of the facts and resolves all your doubts regarding the same.
These firms also advise their clients on the type of company they should register depending upon their purpose. Choosing the accurate business assembly for company registration in Singapore is vital and can affect the taxation of the new business entity.