More about Singapore Company Registration Guide
There are certain places on this planet where doing business is much easier than in other places out there. Singapore is definitely one of them and in a period of just a few decades, it has managed to bring itself to the level of one of the most powerful economies in the world precisely because they have made themselves extremely attractive for businessmen from all over the world.
Nowadays, Singapore is not only viewed as one of the major powers in the region, but also as a great worldwide economic power and that is thanks to their ability to build a system of laws and regulations that protect businesses in their country.
Benefit of Starting a Business in Singapore
Company incorporation in Singapore has been something that attracts entrepreneurs from all over the world to come and build a future on the island state. With the World Bank ranking it as one of the easiest places in the world to do business, company formation for business activities across several industries has the potential to thrive.
One of the main benefits about the Singaporean laws for business is related to the fact that entrepreneurs have the right to have their companies’ privacy protected by the law. There are few ways in which even the officials can inflict upon this law and that means that anything that may concern your company will stay within it and that it will not leak on the outside.
How to Register Private Listed Company
There are two main pathways when it comes to registering a company in Singapore: you can choose to run it from Singapore or you can choose to run it offshore. In either of the cases, your company will have to abide to the same legal regulations and it will have access to the same financing and funding solutions available for everybody.
If you want to run your business from within the country, then you will most likely have to obtain some sort of work visa.
There are a few forms of visas in Singapore, but one of the most encountered ones is the EntrePass. By applying for such a pass, you become a legal resident of Singapore and you receive the right to work and do business here as a business owner as well.
Generally speaking, an EntrePass is quite easy to obtain as long as you meet certain requirements, such as having higher education (a university degree), having experience in the field in which you activate, and so on.
If you do not necessarily want to move to Singapore in order to run your business, then you have the option of registering an offshore business.
However, do bear in mind the fact that there are certain special requirements applied in this case and that they will refer to having at least one secretary, one shareholder and one director to be residents of Singapore.
Furthermore, do bear in mind that in order to open a business this way, you will have to call for the services of a specialized consultancy firm and that these agencies will submit all the forms on your behalf.
Once you have taken one of these pathways and your company was registered in Singapore, you can start your activity. However, do bear in mind the fact that you will have to comply with the local regulations and that you will have to get very familiar with the paperwork and documentation you have to submit every year (such as the annual returns, the annual tax files and so on).
There are a lot of service providers that can be of assistance for the finance part of your business, so do not hesitate to call for their help when you need it and when something feels confusing for you.
The Best Part about Conducting Business form Singapore
If you have read any of the many online websites out there that have been built for the purpose of informing those who want to open a business in Singapore, then you definitely know the fact that even as a foreign entrepreneur you have access to many funding options precisely because Singapore’s main policy is that of helping the growth of the business in their country regardless of the origin of their owners.
As long as you take the initiative, you can apply for a programme that can fund your company’s growth from many points of view.
For instance, some of these programmes deal with the technology sector, while other programmes deal with the training of the persons working for your company and with their development. As long as you can feel a sensitive spot in your company, you will definitely find the financial help in order to improve that weakness and grow stronger as a company.
The truth is that the business environment created in Singapore can hardly be compared with anything else out there and that you will have a lot of benefits out of incorporating your business here. In the end, the many entrepreneurs who already did this did it for a reason and that is related to the fact that a whole new world of opportunities can open before your eyes if you start a business in this marvelous jewel of Asia.