Singapore has become one of the most suitable and attractive locations for new entrepreneurs and business owners. Singapore is located strategically, features a business-friendly environment, and has robust economic stability. Whether you have a lot of funds or are looking to start your small business, Singapore can always help you start your business.
But do you know how to register a company in Singapore from India? Here, we will walk you through the clear steps to start a business in Singapore. You can also learn about the different business structures available and the legal requirements in Singapore. “Register your Business” a unique tech driven business platform helps you in the endeavor.
Key Takeaways
● Why should you start your business in Singapore?
● Different business structures in Singapore
● How do you start a business in Singapore?
Why must you start your business in Singapore?
Singapore presents several reasons for its prominence as a location for starting a business. It has enhanced its reputation as one of the most prominent locations for starting a business worldwide.
● Pro-Business Environment
Singapore is ranked 2nd in the World Bank Ease of Doing Business Report list. Singapore also offers an easy process for registering a business.
● Strategic Location
Singapore is located at the crossroads of Asia. It offers unparalleled access to both global trade routes and South Asian markets.
Types of Business Structures in Singapore
How To Start a Business in Singapore for Foreigners? You first must select the right structure.
● Private Limited Company
Private Limited is the most common choice for small businesses. It can be owned by one or more shareholders and offers limited liability protection.
● Partnership
Two or more partners operate this type of business together. Partnership businesses have two types. General partnership and limited partnerships.
● Limited Liability Partnerships
This is a hybrid structure. It combines the features of both partnerships and private limited companies. While the partners can enjoy limited liability protection, it also retains flexibility in managing the business.
Step-by-Step Guide to Register Your Company in Singapore?
Many wonder How Can a Foreigner Start a Business in Singapore. Here, I will take you through the steps you can follow to start your business in Singapore.
● Selecting a Business Name
You will have to select a unique business name. The name you choose must be accepted by the Accounting and Corporate Regulatory Authority. Ensure the name you select is not offensive.
● Appointing Directors and Shareholders
Singapore businesses require at least one local director. The company should also have at least one shareholder, either a corporate entity or an individual.
● Open a Singapore Bank Account
You need to have a bank account in Singapore to register your business. This account will be used for all business transactions.
Benefits of Starting a Business in Singapore
● Access to the Global Market
Singapore’s strategic location makes it easily accessible to Southeast Asia and the Asia Pacific region. It gives business access to a market of over 600 million people.
● Foreign Direct Investments
Singapore has a robust FDI policy. It does not have any strict restrictions on foreign ownership. The government actively encourages foreign investments. It also offers tax incentives and subsidies to new businesses.
Contact us on WhatsApp Support by “Register your Business”
Opening a business in Singapore has become hassle-free for us. Our executives are active on WhatsApp throughout the day. You can always reach out to our team to get your queries resolved.
Conclusion
Starting your business in Singapore is a highly attractive option. Its tax incentives, ease of doing business and strategic location make it a favorable location for young enthusiasts. Singapore offers the right environment and the right infrastructure to set up your startup in the country. Besides Singapore company registration, we can also help you with Public Limited Company Registration in the UK. Reach out to us now to make your business registration in Singapore hassle-free.
FAQ
● Is it Worth to Start a Business in Singapore?
Yes, Singapore is a business-friendly country with a stable economy and a robust infrastructure. It also has low corporate tax rates for new businesses.
● Can a Foreigner own 100% of their business in Singapore?
Foreigners can register their company and own 100% of their shareholding. You can talk with our chat support for more information.
● Can I register my business in Singapore from India?
Absolutely! You can register your business in Singapore from India. We are here to guide you thoroughly while you start your business in Singapore.
