Incorporating a company in Singapore is an attractive option for entrepreneurs due to its stable economy, low taxes, and business-friendly environment.
Here’s a quick guide to help you navigate the incorporation process:
1. Choose a Business Structure The most popular structure for foreign entrepreneurs is a Private Limited Company (Pte Ltd). This offers limited liability and various tax advantages.
2. Register Your Company Name: Singapore’s Accounting and Corporate Regulatory Authority (ACRA) must approve your company name. Ensure it’s unique and adheres to guidelines.
3. Appoint Directors and Company Secretary Within six months of incorporation, you need at least one local director (Singaporean citizen, PR, or Employment Pass holder) and a qualified company secretary.
4. Prepare Documents Required documents include the company constitution, director and shareholder details, and a registered local address.
5. Submit the Application Once all documents are in order, submit your application to ACRA. After approval, you’ll receive your Certificate of Incorporation and Unique Entity Number (UEN).
6. Open a Corporate Bank Account After incorporation, open a corporate bank account to manage your business finances.
Conclusion:Â How To Start a Business in Singapore
With the right guidance, incorporating a company in Singapore can be straightforward. Professional services can help you navigate each step and ensure compliance.
For more detailed information, visit How to Start a Business in Singapore.
