If you’re looking to open a company in Singapore, you can do so with relative ease. This city-state has a reputation for being one of the world’s most business-friendly regulatory environments.
But, how do you know if Singapore is the right place for your start-up? There are a number of factors that you need to consider. For starters, it’s essential to look at the local talent pool. Singapore is home to a wide array of highly-skilled workers that can provide your start-up with the resources it needs to thrive.
You should also take into account the country’s tax policies. Singapore has a low corporate income tax rate, which means that you’ll have more resources to put toward growing your business. Additionally, the government actively seeks innovation and supports businesses when they need it most, such as by investing billions in companies during COVID-19.
Lastly, you’ll need to determine what type of entity you will be registering. Singapore offers a number of options, including Sole Proprietorship, Exempt Private Limited, Non-Exempt Private Limited, Public Limited, and General Partnership. Additionally, foreign companies that are expanding into the country have the option of registering their new ventures as Branch Offices, Representative Offices, or Subsidiaries.
Once you’ve settled on an entity type and determined a name, you can begin to assemble the necessary documents. Then, you’ll need to submit them to ACRA through their online portal or via a professional firm like Piloto Asia. how to open a company in Singapore