How to Set Up a Company in Singapore

how to set up a company in singapore

Why Set Up a Company in Singapore

Why do so many foreigners choose to set up their company in Singapore?
Singapore is one of the least corrupt countries in the world. She is also ranked in the top 5 positions as the least countries in the world. The other four countries are Denmark, New Zealand, Finland, and Sweden.

Singapore is not only situated in one of the most important shipping routes in Asia. But also is one of the world’s major financial hub.

Because Singapore is such an easy place for foreigners to conduct their business. Therefore, many foreigners select Singapore as a destination to start their business.

This is also an ideal location for global businesses to site their headquarters. Because of its strong trade, investment and infrastructure.

By situating your company here, your company benefits from:

  • Singapore’s network of over 50 comprehensive Double Taxation Avoidance Agreements.
  • Singapore’s many free trade agreements and the Investment Guarantee Agreements.
  • Protection for your ideas and innovations thanks to Singapore’s strict enforcement of its strong intellectual property laws.
  • It does not restrict 100% foreign ownership of business.
  • There is no restriction on foreign currency movement
  • There is a strong and skilled workforce here in Singapore.
  • The health care, education and transportation system in Singapore are one of the best in the world.

How to Set Up a Company in Singapore

Setting up a company in Singapore is so easy that it can be explained in a few simple steps.

  • Most entities choose to register their company through the Accounting and Corporate Regulatory Authority (ACRA).
  • Next, you determine your company type. You can choose the type of company structure you want to adopt. These type of structures includes:
  1. Private Limited Company.
  2. Exempt Private Company.
  3. Public Company Limited by Shares.
  4. Public Limited Company Limited by Guarantee.

You may find the difference between these structures via ACRA official website.

  • Appoint shareholders, directors and company secretary.
  • Paid-up Capital-must at least is $1 with the option to increase any time after the company has been incorporated.
  • Register business address.
  • Register with ACRA
  • Setting up a bank account

A foreign company that wanted to register may do so too. However, they should engage a registered filling agent (law firm, accounting firm or corporate secretarial firm) to do it on their behalf.

We hope this guide is helpful to you in setting up your company in Singapore. We would recommend that you use a commercial property realtor to assist you in your office search. Because there are no commission chargeable for tenants, you do not incur any additional charges. Contact us now.