There’s a reason why Singapore is a preferred business hot-spot for offshore companies around the world. Being one of the most business-friendly and competitive Asian countries, there are many advantages of headquartering your business in Singapore.
Some of the key points that contribute towards Singapore’s pro-business environment are:
- Strong trade and investment culture
- Safe country with minimum red-tape and corruption
- Friendly free trade agreements and corporate tax policies
Are you planning to relocate or open your new business in Singapore? First things first, employ the services of a professional agency that will guide you with proper authentication. According to the law, no foreign entity can self-register companies in the country. Hence, it is always recommended that you start with professional advice and assistance from reputed names such as Bestar.
Here’s how company incorporation services help foreign investors to start a new business in Singapore.
Meeting the criteria for the incorporation process: Whether you plan to set up your business remotely or in person, company incorporation services help you with working passes like Employment Pass or Entrepreneur Pass.
Business structure decisions: They will also help you decide if you want to base your business as sole-proprietorship, partnership, subsidiary company, branch office, or as a representative office. Based on the structure chosen, they also assist in appointing resident authorized representatives which is mandatory in some cases.
Naming conventions: Businesses incorporated in Singapore have to be named in accordance with the Accounting and Corporate Regulatory Authority (ACRA). The agency helps you filing with proper documentation.
Complete KYC: The ACRA requires a host of paperwork towards the company registration process and the agency will help you streamline the necessary files and ensure a convenient and error-free process. Once all the original signed documentation is received, the agency will initiate the incorporation of the company.
Banking formalities: The agency can also guide you to choose a profitable and reliable banking partner once the documentation arrives. With the bank account opening, you are set to start your business in Singapore.
The complete process of incorporating a business in Singapore involves many mandatory legal obligations and paperwork. With the help of company incorporation services, this process can be an accurate, accelerated and convenient experience. Besides, offshore company incorporation services also help with:
- Appointing of competent local directors and representatives
- Custom company incorporation and registration
- Accounting, auditing and taxation services
- Corporate secretarial services
- Setting up trusts, mergers and acquisitions, liquidation assistance, etc.
If you are still unsure about how to start your business in the global financial hub of Singapore, contact Bestar and let us guide you.