Willing to establish your business in Singapore, needless to say, it is one of the best places to start a business, courtesy to low tax rate which ranges 8.5-17 %, which is comparatively very high in other countries and it has very less red-tape and corruption. What else you want to start a company in Singapore? Now, let’s discuss how can one start the business in Singapore?
The procedure to establish a company is quite simple. Firstly, appoint a nominee(s) director in Singapore, if that is not happening in that case even the applicant can relocate to Singapore. In Singapore, the foreigners need a work visa to work in Singapore. Thereafter apply for Employer pass or else for Entrepreneur Pass visa. Fill in the requisite form for Singapore company registration. Note that the age of applicant should not be less than the 18 years of the age. Basically, the applicant must set up a branch office in Singapore to have a local address. In case you wish to avail the beneficial cash grant schemes available in Singapore, you may contact the Standards, Productivity and Innovation Board (SPRING) and International Enterprise Singapore (IE Singapore). One also need to open a bank account, thereafter obtain the seals and stamps, and if need shall require to apply for a certain license. Definitely, Singapore has a more business-friendly atmosphere.
According to the EDBI (Ease of doing business index) has ranked good for Singapore and considered it as a conducive marketplace for doing business. The incorporation of the company in Singapore will not take more than a month. In overall, register company in Singapore is beneficial in terms of facilitation and helps the company in keeping it competitive, also adds to the reputation of the company.
