Complete guidance for foreigners to set up a company in Singapore
Singapore is one of the best places to set up a company to grow itsbusiness. Singapore is one of the safest and corrupt free cities, with its tax benefits and stable currency government encourage entrepreneurial aspirants from across the world.A large number of business opportunities available in Singapore not only for the locals but also for foreign entrepreneurs. For newly incorporated companies, tax profits are exempted for the first three years.
Basic requirements to start a business in singapore:
The key factors that encourage foreigners to setting up a company in singapore as a foreigner are the prearranged location, unaffected jurisdiction, following tax benefits, secure intellectual property law, and so on. Singapore is ranked in the first position for ease of doing business, and this place has attracted not only just individuals of the eastern region but also people of the western region who are showing great interest in Singapore company incorporation.
Despite having a strong desire towards Singapore, many foreigners are not well known to the process of Singapore company registration. Please follow the below guidelines to set up a company in Singapore.
The very first thing a foreigner should think to start a business in Singapore is how to obtain a relevant work visa such as Entrepreneur Pass (EntrePass) or Employment Pass (EP). A work visa allows the outsiders to enter, work and live in Singapore. You can apply to the Ministry of Manpower for an EntrePass to work in Singapore as the local director.Once you get your Enterasys, you don’t require a regional nominee director.
Company registration is a must for any industry before you start any operations. The entire process begins with finding a unique name and office space for the company. Before continuing with the process, take an appointment at least one local director who is a local citizen, a permanent resident or a holder of any of the three passes. Once you are ready with all these requirements,you have to submit the application form along with a set of supporting documents like address proof, copy of passport, Bank documents, etc., the process will take minimum one to three working days as long as everything is under control.