An Overview Of Singapore Company Registration

By Author: A1 Corp
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Singapore is one of the countries that owns the best law and systems for the incorporation of businesses and operations with good tax policy that are favorable for Singaporean locals and even businessmen from outside of the country. Singapore is open for anyone who wishes to start a business. That's why a lot of foreign businessmen everyday are trying their luck in the country by starting a Singaporean company.

Perhaps as a foreigner, you might wonder if the process of company registration in Singapore would be difficult. However, this is not true. It is not at all daunting and rather simple to get your company incorporated in the country. If you wish to know about how to get your company started in Singapore, below are the gist of what you should do.

1. Sole Proprietorship Registration
A sole proprietorship is a type of business entity that is available for local Singaporean and also foreigners. Singaporeans can register their company on their own, however it's a different case for foreigners. The law has stated that foreigners who wish to ...
... register their company in Singapore must use the service of a professional firm that can help them register their company. A sole proprietorship must have a local representative as a person who is responsible to grant authority on behalf of the company. This local representative must be a resident in Singapore, meaning that they can either be a Singapore citizen, permanent resident, or a holder of Singapore employment pass.

A company of course must come up with a business name. This name must be approved by ACRA according to its regulations. A company in Singapore must also have a local physical address. To register your company, both local and foreigners must access BizFile using SingPass. If you are a foreigner without a SingPass, the filing agent will do it for you and help you through the application process. The company registration usually only takes a while as long as you follow all the procedures and requirements accordingly.

2. Partnership Registration
You can register for a partnership if you already have a business partner in Singapore. Foreigners may team up with a local resident. A partnership company can be owned fully by a foreigner. But in order for it to be approved, the company must appoint a Singaporean resident representative. The registration requirements are not much different from sole proprietorship and not any less easy.

3. Company Incorporation

Registering a Local Company

In Singapore, there are two categories of companies. First is a foreign company that wants to be set up in Singapore and a local company that wishes to be registered in Singapore but owned by a foreigner.

If you are a foreigner, then you must appoint a resident director for you company if you want to set up a local Singapore company. If you have the resident director, then you are allowed to reside outside of Singapore. However, if you want to live in Singapore, then you must obtain an EntrePass.

Registration of Foreign Company in Singapore

There are four types of businesses you can register in Singapore as a foreigner:
- Representative Office
- Branch Office
- Subsidiary Company
- Re-domiciliation

Each type has its own advantages and disadvantages. To choose between the four, you must consider about the size and purpose of your business as the choice between the four options will imply on the tax exemption that will be enacted upon your company as well as the liabilities of your business. If you are unfamiliar with any of it, it is best to consult with a professional agency or firm that can help you go through the procedures of company registration in Singapore and give you the best advice.

A1 Corp is a one stop company registration and incorporation services provider in Singapore.

For more details, visit A1corp.com.sg