Of all the Southeast Asian countries, Singapore is the most stable, with a thriving economy, and for this reason, many businesses wish to expand and move into this market. Like every country, Singapore has very clear requirements and restrictions and if you are looking to enter the Singaporean market, you are advised to approach an experienced legal company that are based in Singapore.
Business Registration Options in Singapore
There are three main options for foreigners that wish to set up a business in Singapore:
Representative Office (RO) – If you would like to carry out some extensive market research in Singapore with a view to developing a business, this is the best option. A non-trading entity, you can have one corporate shareholder and one foreign representative, and while you are restricted in your business activities, you do not have to comply with local laws.
Private Limited Company – The most popular option that allows trading and offers limited liability, where you can have a resident director, one shareholder and a company secretary. The company can be 100% foreign owned, and for the best company registration in Singapore, search online for an established legal firm that specialises in such matters. If you do wish to involve a local investor, this is easily arranged and the transfer of ownership is an easy thing to do. Click here for information on serviced offices, which is an informative read.
Limited Liability Partnership – This option is suitable for architects, lawyers, engineers and other professionals, while also an attractive option for limited group equity funds. The trading entity can have one manager and two partners (individuals or corporations), plus there are no capital requirements, and you enjoy unrestricted business activities. Every business must be registered with ACRA, which is something the legal firm would handle on your behalf.
If you are unsure as to which options works best for you, why not schedule a free video call consultation? This is without obligation and it allows you to have dialogue with a legal expert, who can advise you accordingly.
Additional Business Services
The legal firm that facilitates your business registration can also provide you with the following services:
Secretarial Services – Any secretarial work can be outsourced to local professionals.
Registered Business Address – All businesses must have a registered address in Singapore, and the law firm can supply you with a business address and forward all mail to you.
Nominee Services – In the event you need a nominee in Singapore, the lawyer can provide this for you.
Visa Assistance – The law firm can assist you in obtaining the relevant visa for you and other involved people.
Tax & Accounting Services – Should you require these services, the law firm has qualified taxation specialists who can keep your returns up to date.
If you search online for a reputable legal company that offers company registration in Singapore, they would be able to offer you the right advice and facilitate your registration application, while ensuring you are compliant with the laws in Singapore.