Setting Up a Company in Singapore Considerations

Singapore is progressively becoming a lucrative market for foreign businesses It is quite easy to set up a Singapore offshore company, or an offshore company in other jurisdictions, provided the rules and regulations of that country are properly followed.Setting up a Singapore company is comparatively easy; without too many hassles, due to the investor-friendly legislation of Singapore government. Still, some of the basic rules that apply to setting up of an offshore company are valid for Singapore.

The most important among them are compliance with the Anti Money Laundering legislation and the laws enforced to prevent terrorism.. For this reason, some requirements are necessary like all the newly created business who wants to build business in Singapore should provide three requirements They are clear proof of identity of the company, its directors and other shareholders, verifiable proof of present registered address of the company and the residential addresses of the directors and the main reason, known as 'reason d'etre', for establishing the company in Singapore.

Visiting Singapore

Visiting Singapore is the first step to embark on in order for a business to start working on the formalities of a registration. You can be assured that there is a transparent and effective immigration process that makes you visa processing a hassle free experience. An Immigration and Checkpoints Authority called ICA will be at the doorstep to assist you on your way to visa processing.

Registration Process

In order to set up a Singapore company you would need to engage a professional company secretary, a registration agent, and a law cum accounting firm to assist you in the registration process. However, hiring a corporate services firm can manage all these processes so you can be rest assured that your start-up procedure will be efficient, well organized and in adherence to the Singapore rules and regulations.

Your company must be registered with ACRA - the Accounting and Corporate Regulatory Authority. You can count on any of the professional registration firm to guide you on the system. If you have hired one, a company secretary will also be in a position to assist you in registering and finding a location for your business. The attribute of a superstar corporate service firm is not just aiding you with registration but also being able to recommend advancement in technology for efficiency such as being able to provide you with a virtual office services for your Singapore company. There a lot of options provided for the entrepreneur in choosing the business structure for his business in Singapore they are sole proprietorship, limited liability partnership, limited partnership, partnership and an incorporated company.

Staffing

Employment visas for Singapore must be obtained via the MOM - Ministry of Manpower. There are different options, including an Employment Pass (EP) for employees, and for company owners there is an Entry Pass Scheme. You can now begin to hire a workforce basing on your requirements once you have the requirements at hand. Professional staffing and recruitment firms in Singapore are plenty in number and include the large well-respected international firms.

Taxation in Singapore

Setting up a business in Singapore has never been so amazing with the taxation benefits. Singapore has very efficient taxation laws for small to medium sized companies, thus making it a financially viable jurisdiction for your offshore company. A corporate services firm can help you file your returns, and carry out other required due diligence depending upon the nature of your business.
With favorable registration, taxation and immigration laws, entrepreneurs who set up a Singapore company have the potential to flourish in an efficient jurisdiction with exceptional infrastructure.


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Asiabizservices is the leading Singapore Company Registration Services Specialists. It has successfully helped thousands of foreign entrepreneurs start a Singapore company. Our office is located at Raffles Place, in the heart of the Singapore business district. ("CBD") If you're in our neighborhood and want to discuss any aspect of our service then feel free to come in to our offices during business hours.