• Set Up a Company in Singapore

It’s very appealing to set up a company in Singapore. There are many reasons for a company to start a business in Singapore, like abundant business opportunities, openness to entrepreneurial activities, and low tax rates.

In Singapore, if you are engaged in activities for making profits, you need to register your business as like sole proprietorship, private limited company, or limited liability partnership.

There are tons of websites offering consultancy services to help foreigners, locals, and now, university graduates to set up a business in Singapore. If you want to set up your Singapore company incorporation, you must comply with its certain requirements.

Paul and Hype Page Co. provide fast and efficient services of registering and incorporating your company that will comply with the legal entity of Singapore.

Here are 10 reasons why you should establish a Singapore company:

1. 100% COMPANY OWNERSHIP – Any foreigner can come to Singapore and set up a company. You don’t need a Singaporean partner if you do it right; you can own 100% shares of the company. As you have full control over the company, you can decide the capital structure of your company as you want.

2. EASE OF SETTING UP A COMPANY – According to the World Bank’s Ease of Doing Business, Singapore is one of the top three countries to incorporate a company. The process of setting up a company is straightforward, it can be done within a few days.

In most cases, it only takes 1 day to register and incorporate a business in Singapore. Simply put, Singapore is the friendliest and the easiest place to start and manage a business.

3. ENGLISH AS BUSINESS AND ADMINISTRATION LANGUAGE – English is the business language in Singapore. Almost all Singaporean can converse well in English. Setting up a company in Singapore means you don’t have to spend time learning third or fourth languages to understand the needs and wants of the local market. You can easily communicate with the locals, governments, and business partners in English.

4. Strategic Location – Singapore is the gateway to Southeast Asia and Australia is only a short plane away. Setting up a company in Singapore makes it easy for your company enters a market with 3 billion people on the continent.

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5. Start-ups Paradise– Singapore is a start-up paradise. Singapore government encourages start-ups by providing tax incentives and grants to entrepreneurs. The government even subsidizes the labor costs of a start-up company for certain sectors. The tax incentives and grants are not exclusive to local’s entrepreneurs, foreign-owned businesses can apply as well. In Singapore, it is possible to convert your ideas and vision into a business.

6. Talent hub – With its open immigration policy, there are new talents that traveled across the ocean to hunt for new opportunities in Singapore. Thus, it is easy to source a well-trained and productive workforce for your company in Singapore.

7. Tax friendly – Many investors are keen to set up a company in Singapore because of its friendly tax system. For the first 3 years, new companies in Singapore are exempted from tax for their first S$100k of income. And the corporate tax in Singapore is also considered friendly. capped at 17%

8. No restrictions on the movement of foreign currency – Setting up a company requires a substantial amount of capital at the initial stage. The good news is you can bring in as much capital as you need from your home country when you set up a company in Singapore. Singapore does not imply a restriction on the movement of foreign currencies like China and India.

9. Open economy – Singapore ranked first on “world’s most efficient and open economy” for 7 years based on the report of the Economist. Singapore stands out from its competitors by having a stable political environment, business-friendly tax system, its openness to foreign investment, the labor market and modern infrastructure.

10. IT Hub – Singapore ranks as the top 3 in the world for its advancement of information technology (IT). It is easy to stay competitive in the market by having all the access to IT in Singapore.

Also, keep in mind to follow Singapore’s business cultural norms and other legal rules so that you don’t attract unwanted eyes of the locals and government authorities:

  • In Singapore, using traffic as an excuse for being late doesn’t always work. Taxi cabs are very dependable. Most importantly, the cultural protocol is very special in Singapore and everyone MUST follow it.
  • The greetings, for example, for young and old people are different. Although it’s culturally acceptable for women as well as men to shake their hands, women must initiate the handshake first.
  • If you are a foreigner who wants to gain practical training for professions such as managerial, professional, executive, or specialist nature in Singapore, you may require a training visit pass or TVP.

Paul Hype Page & Co.

  • With our team of expert staffs, you can rely on our services to assist in incorporating your business operation as LLP. You do not need to waste countless hours thinking about how to go about your application. Our strategy is proven and we will supply with all the tools and information to start a business in Singapore, how to be more competitive in your niche, how to set business standards and prepare for risks and challenges, and keep records of important documents and company’s policy.
  • Singapore government has assigned intellectual property and innovation rights to foreign corporation, engineers, investors, and designers to ensure that they receive revenue from income from offshore firms, rather than have those royalties come to them directly. This means that Singaporeans receiving income through offshore companies DON’T attract any tax. At Paul Hype Page & Co, we have the experience and specialize on offering tax haven incorporation services for firms in different tax jurisdictions. We operate within the limits of laws and regulations set by the government of Singapore. We provide details and solutions for offshore as well as local corporations all aspects of offshore companies, for both outbound and inbound international tax structuring.
  • If you are interested to register a company in Singapore, at least one resident (Singapore citizen with Entrepass) is mandatory. However, there are no limits on the number of additional local and foreign directors a Singapore Company can appoint. Directors must be 18 years old and not be convicted of malpractice or be a bankrupt in the past.

Whatever your needs, we invite you to contact us today to kick start your Singapore venture.

To further aid you, we have provided here a resource area with industry specific information and other industry resources to help you successfully start and run your business.

  1. Singapore Business Opportunities 
  2. Singapore Business Licences
  3. Singapore Tax Planning
  4. Singapore Company Incorporation
  5. Singapore Company Yearly Statutory Requirements
  6. Singapore Working Visa Guide

Paul Hype Page & Co. is an ACRA-certified business adviser. Our team of seasoned professional can help you set up a company in Singapore very quickly and easily following all legal entities, and offer you sound advice on how to make it successful too.

Why You Should Set Up a Company in Singapore FAQs

Can foreigners set up a company in Singapore?2020-11-13T09:00:36+08:00

Anyone can set up a company in Singapore and own 100% of the company. 

What are the popular business that I can start in Singapore?2020-11-13T09:00:51+08:00

Some popular businesses in Singapore are food and snacks, transportation, consulting firm, home tutoring service, online marketing, laundry service, and personal trainer. 

I want to run an e-commerce business in Singapore, must I set up a company?2020-11-13T09:01:28+08:00

Yes, to run an e-commerce business in Singapore, you must set up a company.

Singapore does not have Taxation on capital gains, is it true?2020-11-13T09:01:45+08:00

Yes, one of Singapore’s most well-known tax policies is that of the lack of taxation on capital gains. This policy was put in place to encourage the undertaking of business ventures in Singapore. Thus, it has contributed to the country’s economic development. 

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