+971-45579404
Company setup Singapore – Procedure Of Registering Business
+971-45579404
Every Company Setup Singapore is registered under the Accounting and Corporate Regulatory Authority. Foreign companies need to appoint two local agents to work as representatives and these persons must be permanent Singapore residents, citizens or foreigners with dependent or employment pass. Government approval is not mandatory for foreigners to set up a company in Singapore and the country permits 100% foreign ownership.
+971-45579404
+971-45579404
Eligibility requirements: A sole proprietorship, limited liability partnership and limited partnership businesses can register unless any one of the director or shareholder has serious criminal background. In case the owners are not Singapore ordinary residents, a local manager of above 18 years old, who is also a Singapore citizen or a permanent resident must be appointed. When considering company incorporation, the Singapore company law needs a company must have minimum one direction of 18 years old, who is also a Singapore citizen or a permanent resident or a person who has dependent/employment pass. Directors cannot be involved in bankruptcy or convicted dishonesty.
+971-45579404
Business Name Availability: Search at the online directory of Accounting and Corporate Regulatory Authority (ACRA) for available business name. Choose a name that is not similar to any existing company or identical with popular brands or trademarks. ACRA directory contains certain reserved words that will not be approved as a company name. Approval of name may take more time if the name requires approval from authorities like Law society.
+971-45579404
Business Structure: The structure of a business must be selected and approved before registering as a company. Major business structures in Singapore include; Limited liability company Foreign company Sole proprietorship Partnership Business location A Singapore address must be submitted when filling the application. Businesses that don’t need a physical premise can use virtual address. Physically operating business can provide a home office address, retail outlet, serviced office or factory. Business premise must be operated according to the approved business by the relevant authorities.
+971-45579404
Business Permits And Licenses: Business permits and licenses are required based on the type of business you want to operate. Professional services need an occupational license while travel agencies, private schools, foreign worker employment agencies, childcare centers, etc need a Compulsory License.
+971-45579404
Bank Account: To do business in Singapore, you need to open a bank account and most banks offer corporate banking account with appealing features such net banking, trade financing and global fund transfers. Check the services and other typical requirements with different banks before opening a corporate account; To do business in Singapore, you need to open a bank account and most banks offer corporate banking account with appealing features such net banking, trade financing and global fund transfers. Check the services and other typical requirements with different banks before opening a corporate account;
+971-45579404
Opening deposit amount Local currency or multi currency account Minimum monthly balance ATM withdrawal limit in a day Treasury and market services Facility to send funds across countries Liquidity management services
Debit/credit card Net banking Cheque book Business loans Business insurance Service charges
Appointing a professional business formation firm for Company Setup Singapore is mandatory for foreigners in order to register a business in Singapore. Business registration and company incorporation in Singapore can be complex and demands specialized knowledge on compliance. DIY approach may not be suitable, so get assistance from a professional service firm to register a company on your behalf.
GET IN TOUCH Address: One Duxton Hill, Singapore 089587, Singapore Contact No.: +971-45579404; +65-6711-3010 Email: info@gccsolutions.com Website: https://www.gccsolutions.com/private-limited-company-singapore/