Upon registration, all official documents will be immediately available on our online portal. As soon as your Singapore company is registered, you can start conducting business under its name. Once the incorporation documents are ready and signed, we will register the company with Singapore’s company registrar, Accounting and Corporate Regulatory Authority (ACRA). The Singapore company registration process is conducted online and in most cases it takes less than an hour.
- After your company has been successfully registered, the following documents will be issued.
- It’s essential to provide accurate and complete information to avoid delays or rejection of your application.
- You must have at least one shareholder to register a Singapore company.
- Get an estimate of how much it costs to start and run a business in Singapore with our Setup Cost Calculator.
- Our Foreigner Incorporation Package designed for foreign entrepreneurs and foreign companies is the most popular option.
Before embarking on branch registration in Singapore, business owners need to evaluate whether a branch office is the most suitable business entity for their expansion goals. A branch office is typically an extension of the parent company and is not considered a distinct legal entity. This means the parent company bears the liabilities and obligations related to the branch office’s operations in Singapore. Engaging a registered filing agent, such as 3E Accounting Pte Ltd – Singapore, is a mandatory requirement for foreign companies seeking to register a branch office in Singapore. A registered filing agent can efficiently handle all aspects of the branch registration process, helping you avoid any delays or complications that could arise from ignorance of local regulations.
Determining the Financial Year
In exchange for all the extra administrative work, you stand to enjoy benefits like greater ease when it comes to issuing shares, transferring ownership and fundraising. Tighter regulatory requirements also inherently create greater trust levels for these companies in the eyes of investors, vendors, clients and consumers. You need a minimum of two partners, fica tax withholding rates in2021 and there is no limit on the maximum number of partners in a LLP. Like its namesake, LLPs shield owners from being personally liable for business debts or losses of the LLP. Or legal actions against the LLP, since it is treated as a separate entity. Our Local Package is for Singapore Citizens and Residents who want to set up a company in Singapore.
- Tighter regulatory requirements also inherently create greater trust levels for these companies in the eyes of investors, vendors, clients and consumers.
- If you are a foreigner, then Timcole will help you by accessing the online system.
- Most importantly, the property must still be used for residential purposes and the business activity must be kept at a small scale to avoid causing disamenities to your neighbours.
- Once you have determined what kind of business you want to start, it’s worth checking to see if it requires a license.
- Engaging a registered filing agent, such as 3E Accounting Pte Ltd – Singapore, is a mandatory requirement for foreign companies seeking to register a branch office in Singapore.
According to the Companies’ Act, each business is required to employ a company secretary within six months from the date of incorporation. He or she ensures that the directors and shareholders are well-informed of statutory obligations (which include annual general meetings and annual filing of audited accounts). For LLPs and companies, this is where all communications and notices may be addressed. Do note that a registered office must be operational and accessible to the public during office hours. However, it does not have to be where the company or LLP conducts its activities (e.g. Registered office address is at Tanjong Pagar, but the factory is in Tuas). Designed for foreign entrepreneurs and foreign companies, this package covers all services that are necessary to incorporate and start a new Singapore company.
Singapore, renowned for its strategic location and pro-business environment, has established itself as a top-notch hub for international businesses to expand and penetrate the Southeast Asian market. With a well-regulated economy, an excellent infrastructure, and a skilled workforce, the city-state offers fertile ground for existing business owners seeking new avenues for growth. The country occupies the second-place spot in the World Bank’s Doing Business rankings, and requirements for starting a company are relatively easy. The country’s pro-business environment makes it an attractive location for entrepreneurs.
In some cases, it also allows you to better manage your business risks. We are eager to understand your goals and recommend the most suitable options for your situation. To get started, you can either consult with our virtual agent by clicking at the bottom right chat icon or send us your inquiry for a prompt reply. We can address your questions via email, schedule a Zoom call, or arrange a visit to our office in Singapore. Designed for Singapore citizens and permanent residents of Singapore who do not need our local director and Employment Pass application filing service. Our team will assist you with selecting a suitable bank for your company’s corporate bank account and make an introduction to the appropriate bank executives.
Incorporate company and open bank account
Upon successful registration of your business entity, you may need to apply for a licence or permit from other government agencies before commencing business. Alternatively, you may also appoint a registered filing agent to submit the application on your behalf. You must provide an address when registering your business with ACRA. You must inform ACRA of any address change within 40 days of registration.
Below are general guidelines for the types of documents that should be provided to satisfy this requirement. Timcole is one of the leading company incorporation and accounting firm based in Singapore. Our wide range of professional services serve as a one-stop solution for your business, offering you the most affordable price for services conducted with the highest level of excellency.
Step 1: Determine the Suitability and Viability of a Branch Office
If you are a foreigner interested in setting up a business in Singapore while you operate it from Overseas, you need to select at least 1 Director who is the citizen of Singapore. All other requirements for incorporation remain the same as that of setting up a local company. This type of registration eliminates the need for you to locate to Singapore.
Step 3: Choose a business address
For example, if you want to set up a private school, the application will be referred to the Ministry of Education. For companies, the standard incorporation fee is $315, including the registration of a business name. This is the simplest business entity as it comprises just one owner.
Product & Service
Contact us to learn more about our company setup services in Singapore. Registering a branch in Singapore is an ideal way to tap into this regional market and reap the benefits of the country’s competitive advantages. However, the process of branch registration can be time-consuming and complicated, especially for those unfamiliar with the regulations and requirements. By partnering with an experienced firm like 3E Accounting, you can avoid the paperwork hassles and focus on fine-tuning your strategy for business expansion in Singapore.
Foreigners registering a business in Singapore
Private Limited companies will also need to retain documents of financial transactions for at least the past five years. Private Limited companies are larger and more robust than LLPs, and can have between one and 50 business owners. But requirements for these companies are also more stringent, and are subject to more corporate governance regulations. The type of business structure you choose depends on your business needs. To help you decide which is most suitable for your venture, let’s look at some of the most common types available in Singapore and what they are best suited for.