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Singapore is of the easiest countries to start a business, even if you are starting up a business as a foreigner. It only takes three days to incorporate a business in Singapore takes only three working days. Therefore, the process of starting a business in Singapore is fast, convenient, and simple.

What are the benefits of starting a business in Singapore?

  • Singapore has a robust economy, and it is the best country in the world for doing business according to the World Bank rankings.
  • The infrastructural development in Singapore is equally excellent, thus making it easier for doing business.
  • The quality of life is excellent.
  • Singapore has stable economic and political environments making it attractive to foreign investors.
  • The governance is free from corruption making the environment business friendly.
  • Singapore has a relatively low tax rate with a rational taxation system.
  • It is strategically located and easily accessible by other Asian countries.
  • Singapore allows for 100% foreign company ownership; thus Singapore is an ideal place to starting a business for foreigners.
  • These, among others, make Singapore one of the best countries that one can dream of doing their business. The good news is that you can turn your dream of doing business in Singapore through our professional services into a reality.

Thinking of incorporating in Singapore? Let’s get started.

E A S I E R • F A S T E R • B E T T E R

How do I start a business in Singapore as a foreigner?

To start a business in Singapore as a foreigner, you must have a plan.

  1. Have a working business plan
    The process of converting an innovative or entrepreneurial idea into a reality requires significant input and effort. The primary aim of a business plan is to succinctly put the steps through which you will achieve your business success. The plan should clearly state:

    • Your company goals
    • The marketing strategies and plans on how you will implement them
    • Financial obligations and planning
    • Reasons why these strategies and planning are attainable and how
  2. Set aside the capital for starting your business
    Capital dictates the rate and level of success a company can achieve. A good plan and or business ideas can fail if there is no sufficient capital to implement them. Therefore, you must set aside a reasonable amount of capital once you have decided to commence on a business of your choice. The amount of capital that you have will influence how quickly you achieve your business goals.
    Further, the good news is that various attractive schemes are available for funding upcoming and innovative ideas. The process of obtaining such financing services is tied to the type of business that an individual wish to start. The following schemes are available for individuals who intend to start a business in Singapore:

    • Sector Specific Accelerator
    • The Business Angels Scheme
    • SPRING, among others

    You need to identify which of the above schemes will be suitable for your business and the ones that you qualify in case you need additional funding for your business.

  3. Identifying the type of business you want to start in Singapore
    There are numerous business ideas that one can consider when starting a business in Singapore. Some businesses idea that you can start in Singapore include:

    • Art or Music related business
    • Employment Agency
    • Real Estate
    • Travel Agency
    • Import and Export
    • Business in Singapore
    • A publishing Business in Singapore
    • A shipping Business
    • Construction Business
    • Online E-commerce Business.
    • Dental Clinic Agricultural Business

    The type of business you want to start in Singapore highly depends on your passion or desires. If you are not sure which one to go into, look at the amount of capital you have or the capital that you can access, this will be the key deciding factor for you.
    If you still cannot make up your mind, Paul Hype Page can provide consultation services for you. Paul Hype Page can even help you to incorporate and walk you through the entire process of business incorporation in Singapore.

  4. Build your network
    Starting a company in Singapore is not just incorporating the company and having it operate. As a foreigner, it will be a plus to have a solid network before starting your business in Singapore. You need to build your network so that you can develop and identify potential threats and strengths to your success properly. Networking involves having such things as participating in start-up meetings, attending shows and exhibitions, and seminars. You can also link with other successful companies, benchmark, and seek relevant market ideas by finding more information on managing a business successfully.

  5. Finding a working Space
    When you start a business in Singapore as a foreigner, you should also identify an office where you will be working. It is also crucial to note that the renting an office space in Singapore is relatively expensive. The office space you will require will depend on your plan that includes the service you need and the number of employees or occupants for your business.
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What are the steps to starting a business in Singapore?

Incorporating your company

The initial step to starting a business in Singapore is to register your company. The process of incorporating a company in Singapore is simple and straightforward. When you are starting on the registration process of a private limited company then you will be required to avail the following information:

  • A company name that must be approved by the ACRA.
  • Shareholders at least one and at least one director who must be a Singapore resident.
  • A company secretary who must also be a resident of Singapore
  • You should also have at least SGD 1 as a paid-up capital
  • A physical registered office address is a requirement.

Again, you do not need to worry since Paul Hype Page will provide you with all the essential services to enable you to register your business in Singapore.

Why Incorporate your company with PHP?

  • We are professional, and this is our area of expertise
  • We guarantee 100% incorporation success
  • We will provide you with both company secretary services and physical location registration.
  • Additional services like taxation systems and bookkeeping services.
  • We can help you with additional consultation services as you continue with the business operation

With the help of our services, the process of starting a business will be sure, fast and less straining to you and your management.

Incorporate your with PHP

Obtaining Necessary Licensing and Permits

After the incorporation process, you will have to obtain all the necessary licenses and permits for you to operate your business. The type of your business and the industry under which it lies will significantly dictate the kind of business permits and licenses you require. Singapore’s government requires all the businesses within the jurisdiction to have permits and to license to allow them to operate their businesses. Licensing ensures compliance and certainty that it is operating in accordance with the Singapore law and requirements.

Therefore, obtaining licensing should be part of your plans when starting a business in Singapore.

Recruiting of Employees

The process of recruiting employees for your business can be a nightmare. However, that is not usually the case in Singapore since there is a pool of qualified and professional employees. You can hire either local or foreign employees in Singapore. Besides, there are employment agencies in Singapore that can assist you with the hiring process.

If you want to hire your employees from abroad, you must ensure that the valid work permits, and passports enable them to work in the country. Still, you have nothing to worry about if you had the plans to hire employees from abroad. PHP will help you process the necessary work permit and Visas for your prospective employees to enable them to come to Singapore. Starting a business in Singapore might not be complete or successful without hiring qualified employees and workers.

Compliance and Tax remittance

Singapore has Double Taxation Agreements (DTAs) with over 73 countries globally. Besides, the country has a unilateral tax system with the countries that it has not signed the DTAs with. Thus, the tax system in Singapore is lenient and simple. Nonetheless, you must ensure that you file all your relevant tax requirements correctly. It might be challenging for start-ups who are not familiar with all the tax requirements in Singapore. However, you must realize that the process of filing your taxes can be simpler if you hire our professionals who can help you file to avoid penalties and fines.

Conclusion

Generally, the process of starting a business in Singapore is fast and efficient if you work with qualified and professional personnel. Therefore, you need to consult with us so that you can start your business in Singapore with ease.

Starting a Business in Singapore FAQs

Can a foreigner start a business in Singapore?2020-10-28T12:12:49+08:00

Yes, you can start and operate a business in Singapore as a foreigner as long as you meet all the requirements. 

What are the steps involved in the company registration in Singapore?2020-10-28T12:12:15+08:00

The 3 steps involved in the registration of the Singapore Company are as follows:

  • Choosing your business name
  • Present all the documents and meet the requirements for the company registration
  • Open a bank account for your company
What is the fastest way that I can start a business in Singapore?2020-10-28T12:11:49+08:00

The fastest way to start your business in Singapore is to get help from the service provider. If you want to quick and sure way, then work with the service provider to help you comply with the ACRA requirements is definitely a right move. 

Is the process of starting a business in Singapore complicated?2020-10-28T12:11:34+08:00

The process of starting a business in Singapore is fast and straightforward. It only takes a maximum of 3 working days to start your business in Singapore, regardless you are local or foreigner. 

2021-01-27T16:27:43+08:00January 8, 2015|98 Comments
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98 Comments

  1. Jili Lee March 15, 2021 at 9:08 am - Reply

    Can WP set up a business in Singapore

  2. Dinesh narwani November 11, 2019 at 10:50 pm - Reply

    I want register a company

    • Kumaran Tiwiyah November 12, 2019 at 7:39 am - Reply

      Hello Dinesh,

      If you are interested in registering a company in Singapore, we provide several different incorporation packages to assist you in your company setup.
      Please email us to give us more details of your business setup so we can advise the suitable company incorporation packages for you.

      Paul

  3. Mohamed assim October 9, 2019 at 6:24 am - Reply

    I want to register a company in sg

    • Kumaran Tiwiyah October 14, 2019 at 1:21 am - Reply

      Hello Mohamed,

      If you are interested in registering a company in Singapore, you will need to undergo the process of company incorporation. Once you have completed this process, you will have your own Singapore-based company which will have been legally registered.

      We provide an incorporation package that will allow you to have a company of your own and which you may run in any way you see fit. Please contact us for more information.

      Thank you.
      Paul

  4. hasan basiri March 6, 2019 at 8:28 am - Reply

    i want to do business in singapore my business form as gift items present i living in dubai how could i start company there intial howmuch i invest and how much charge you as a setting a company.i waiting for you reply.

    • angela ng April 3, 2019 at 8:06 am - Reply

      Dear Hasan
      From your description , you like to set up a Singapore company and operate remotely from Dubai. You can look into incorporation a company with nominee director services as it our Singapore company law that each company needs at least one local resident director. Will email you more details
      Paul

  5. Araceli matabat August 12, 2018 at 7:08 am - Reply

    hi good afternoon i am filipino and my business partner are japanese..we would like to open a company corporation in singapore.
    could you please give us information and expenses detail. thank you

    • Paul Hype Page August 13, 2018 at 9:40 am - Reply

      Hi Araceli,

      The fastest way to incorporate a company in Singapore would be through our highly recommended all-in-one Incorporation with Employment Pass package. The Incorporation with Employment Pass package will cover every aspect of your business setup needs in Singapore. For a more detail discussion regarding this option, please contact us at [email protected] to set up an appointment.

      Best Regards,
      Paul

  6. KC March 6, 2018 at 5:46 am - Reply

    I am planning to set up a Company in Singapore, from Sydney Australia.

    Our main activity will be ;

    Importing Sports Equipment to Singapore and then Exporting the same to the 3rd Countries.
    The goods would not be sold in Singapore but transhipped to the other countries straight away.
    We have been doing this triangle business from Australia but plan to do this from Singapore.

    I am Australian Citizen and , once we set up the Company and open our Company bank Account in Singapore, I need not to live in Singapore but to visit once or twice a year only.

    In this regards, I would appreciate it if you can provide me some information.

    • Paul Hype Page March 6, 2018 at 7:48 am - Reply

      Dear KC,

      The quickest and most efficient way to set up a company in Singapore would be through our all-in-one Incorporation with Employment Pass package which will cover all your business needs in Singapore. Our dedicated Corporate Specialists will be able to guide you through the process and will be happy to answer any other queries you may have. Please do drop us an email at [email protected] and let’s talk further.

      Cheers,
      Paul

  7. Benoy December 8, 2017 at 1:40 pm - Reply

    I am planning to open a company in Singapore. Now I am running a BPO company in India,I have one office in US also. Can you please send me expenses detail and also include your fee.
    Thank you

    • Paul Hype Page December 12, 2017 at 9:36 am - Reply

      Dear Benoy,

      Thank you for getting in touch. One of our Corporate Specialists will be in touch and email you with the details you need. In the meantime, should you require any further assistance, please do not hesitate to contact us at [email protected]

      Best Regards,
      Paul

  8. Nora Ingram September 21, 2017 at 8:13 pm - Reply

    Hi,
    I would like to set up a business in Singapore. I have a few questions regarding registering business in Singapore for a foreigner.
    1. Do you have to have a street address to register a business? For example: Resident address or PO Box address (local).
    2. Do you have to have a bank account in Singapore? What is the minimum required for deposit to open a business account?
    3. Once you have the business registration, do you have to apply working visa in Singapore?
    4. Does having connections such as family help in the business application?
    I was once Singaporean but because of marriage and benefits for school in US I decided to give up my citizenship since Singapore does not allow dual citizenship. Now graduated with bachelor and running a business I want to see what Singapore could offer me. .
    Thank you in advance for the information.
    Nora Ingram

    • Paul Hype Page September 27, 2017 at 9:14 am - Reply

      Dear Nora,

      Yes, you will need a registered address for a Singapore company (no PO Boxes, though) and you will need to have a company bank account in Singapore with the required capital. If you plan to relocate to Singapore to run your business, you will need a working visa. We’d recommend our all-in-one Incorporation with Employment Pass package.

      Do drop us an email at [email protected] when you’re ready to set up your business, we look forward to working with you.

      Cheers,
      Paul

  9. Kongal September 14, 2017 at 12:05 pm - Reply

    Hi,
    I’m from Myanmar and a director of a limited company. I want to extend such a trading company in Singapore. Please send me detail expenses of a trading company and about your consultant fees and expenses.

    Thanks,
    Ko

    • Paul Hype Page September 26, 2017 at 8:41 am - Reply

      Dear Kongal,

      Thank you for your interest. Our all-in-one Incorporation with Employment Pass solution will be a good fit for what you need. My colleague will email you regarding the information about incorporating in Singapore. Do contact us at [email protected], we look forward to helping you set up your company.

      Cheers,
      Paul

  10. Walter August 15, 2017 at 7:39 am - Reply

    Hi

    I have a Singapore Personal Employment Pass (expiring end of April 2018). I just opened a PLLC (professional limited liability company) in US. I would like to open a company in Singapore. Should this be a ‘branch office’ of US firm or a new company (not sure which – LLC or Sole) with the same name? My company is primarily consulting work for the data center infrastructure business (design/build).

    Thank you

    • Paul Hype Page August 23, 2017 at 7:22 am - Reply

      Dear Walter,

      The best option would be to open a private limited company here in Singapore. We would suggest our all-in-one Incorporation with Employment Pass package as the best solution if you’re looking to establish operations here in Singapore.

      Do drop us an email at [email protected] and let’s talk more.

      Cheers,
      Paul

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