Singapore is a famous country that is providing the business firm. Here the people no need to pay much of the tax, which is the reason that most of the people from the other parts of the world like to start up the new company in Singapore. Here they need to do only some of the few simple steps to start the legally registered company. The registration of the company for foreign entrepreneurs will also be quick and straightforward. Are you confused about How to Set Up Company in Singapore? Then this article will be a helpful one for you.
Steps for starting the company
– Need the approval of ACRA
To launch the company, you have to register with the accounting and the corporate regularity authority. So this will be a helpful one for having a unique identity in Singapore. The shareholders will not need to take responsibility for losses and other problems. This registration will make your firm added to the taxable entity.
– Conditions to make the company set up
You should have to keep the right name for your company. Also, this should be the approved one by ACRA. It is also the rule that the company should have a minimum of one shareholder, at least. The company should have one director and the company secretary with the resident in Singapore. You should also have to provide the office address of the company. All these kinds of information and the other identity numbers will be available in the certification given by the ACRA. So this will be a useful one for the post-registration process and other things.
– The bank account is must
You should have to create a bank account for your company, and this will help get the fund and the revenue more comfortably. You can either choose the local or the international banks, but the registration will be much useful one.
Foreigners can start the business
Are you a foreigner who wants to start the new business? Here are the simple steps for your doubt regarding How to Set Up Company in Singapore? The foreign people, when they have crossed the eighteen years of age, can start the new business. Local directors are the important ones for the foreigners as this is the rule. So the regional directors should have a residence in Singapore. The director also should have the employment pass and entre pass with the permanent residence.
The foreigner can able to register the private limited company, sole proprietorship, and also the limited liability partnership companies in Singapore. Every company firm will have unique rules and regulations. Work visa, online incorporation process, and service should be a necessary one. All these prices are much straightforward, and also this will not take much time for the registration. You can also make the required registration after setting up the company, such as the licenses, goods and service tax, Singapore CPF, etc.
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