Overview of Doing Business in Singapore: Company Incorporation in Singapore


Singapore is an attractive market investment in the world with wide array of business opportunity considering the geographical, political, economic, tax, demographic, etc. benefit. Singapore has been recorded 4th strongest financial market in the world due to financial stability, commercial access, bank efficiency, etc. giving extensive exposure foreign investment. Understanding the volatile behaviour of investing in Singapore can help you make a more informed choice about whether to make it a part of your investment portfolio. Company Incorporation in Singapore involves extensive opportunity and growth options.

To achieve your goal and add other wings to your company feather, incorporating a company in Singapore is mandatory along with a range of legalities and business incorporation process in Singapore for global outreach. Tax benefits are one of the top priorities in any country especially registering a company in Singapore. The perfect business culture, advanced infrastructure, high standard of life, strategic location, political stability, quality workforce are the additional advantages that makes the Singapore one of the best market for investment. The opportunities are endless and the advantages are very lucrative even for a first-time investor. It is recommended to hire a business experts to comply with each and every legalities and smoothly function in Singapore and leading company. 


Important points to consider while incorporating a business in Singapore 

  • Well, the first thing you should know is that the main body which regulates the formation and post-formation of companies is ACRA i.e. Accounting and Corporate Regulatory Authority, Singapore.
  • It is a statutory board under the Ministry of Finance of the Singapore Government & the national regulator of business entities, public accountants, and corporate service providers in Singapore.
  • The ACRA was formed with a purpose to provide a monitoring environment for business incorporation, corporate service providers, and public accountants.
  • For Foreign investment or company, certain requirements are specified which are needed to be satisfied to start the business operation in Singapore.
Limitation to set up your business in Singapore

For people outside Singapore or Foreigners, there are some specific requirements which are needed to be fulfilled to commence their business activities. 

1) To employ a local resident as a director who is:
  • A Singaporean resident 
  • Having a Singaporean permanent address or
  • Entre Pass Holder - The Entre Pass allows eligible foreigners to start and operate a new business in Singapore
2) To hire a Filing Agent registered under ACRA eg: A corporate firm, a law firm, a secretarial firm, or any similar entity who can do the entire filing process for you.

Specific requirements to form a company in Singapore

  1. An ACRA approved Company Name
  2. A minimum paid-up capital or 1$ or more
  3. An appointing of a Resident as a director in your company 
  4. A registered address for your local office in Singapore
  5. An ACRA approved Hiring Agent / Company Secretary
  6. A minimum of 1 shareholder which can go all the up to 50. 
How to register your company in Singapore? 

There are 4 simple steps to follow. Now, let’s discuss the entire process in Detail:
1: ACRA Approval of Company Name:
To start registering a new company the applicant needs to first get it approved by ACRA. Visit the official website for the web portal maintained by ACRA. It should free of any copyright issue or should not clash with companies with similar names. It should not infringe on any trademark.

2: Preparation of Documentation:
  • A Company name registered with ACRA
  • Details of Registered Company Address 
  • Details of Directors
  • Details of Shareholders
  • Details of Company Secretary
  • A brief description of business activities
  • Singapore Residents must submit a copy of their Singaporean Identity Card
  • Foreign Companies must submit Memorandum & Articles of Associations
  • Foreign Entrepreneurs must submit a copy of their passport and residential address proof (overseas address)
3: Submission of Application to ACRA:
Once the company name is approved, you can apply for the company registration. The process will be immediately started by examining all the documents by the concern authorities. Click here to register your Singapore company online.
4: Obtaining of Certificates, Licenses & Permits
The following are the mandatory documents Post Company name registration and are required for Registration of a Company.

  • Certificate of Incorporation
  • Company Profile
  • GST Registration 
  • Company Stamp 
  • Share Certificates
  • Filing of Annual Returns 
  • Annual General Meetings / Extraordinary General Meetings & Board Resolutions
  • Proper maintenance of Accounts
  • Acquiring other Licenses or Permits (if required)
  • Compliance for Singapore Companies
For more details: Click here
Location: India

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