The city-state of Singapore is a prime location for business with solid trademark IP protection, an attractive corporate tax framework, superb connectivity, and a strategic geographical position. These are just a few reasons why entrepreneurs and investors worldwide are increasingly interested in Singapore business incorporation.
Registering a company in Singapore is relatively simple. Entrepreneurs must decide on the type of company to set up (either sole proprietorship, partnership, or private limited company). There is no minimum paid-up capital required when registering a business in Singapore, but companies are allowed to inject additional capital at any time by submitting an application and announcing it to the registrar. Directorships are allowed for both Singapore residents and foreigners, but they must be individuals (a corporate director is not permitted).
Every new business registered in Singapore must employ a qualified company secretary within 6 months of its incorporation. This must be an individual who is a resident of Singapore or holds a valid Entrepass visa. Entrepreneurs who cannot meet this requirement can hire a professional firm such as Piloto Asia to act as company secretary for them.
Other important considerations include securing the company’s business permits and licenses (if applicable), opening a corporate bank account, ensuring compliance with annual filing requirements, conducting and recording Annual General Meetings, and registering for GST (if it is taxable). If you need assistance with Singapore company registration, our team of experts at Piloto Asia is ready to help. how to register a company in Singapore