When you open company in Singapore, you’re partnering with one of the fastest-growing economies in Asia. Singapore ranks second in the world on Ease of Doing Business (EODB) and offers a favorable tax climate that gives you a competitive edge.
The most popular structure for a new Singapore company is the private limited company, which allows for unlimited shareholders and offers liability protection. This is why you’ll find the most start-ups in the region register as private companies.
Once you register your Singapore company, you’ll need a corporate bank account and an office space. Incorporated businesses are required to register for Goods and Services Tax (GST), so you’ll need to determine whether your projected annual revenue will exceed the S$1 million threshold. You’ll also need to apply for the necessary licences and permits to operate your business.
If you’re not a Singapore citizen or permanent resident, you’ll need to work with a Registered Filing Agent RFA, like Piloto Asia, to assist with the process. The RFA will make sure that all your paperwork is submitted correctly and on time. Once everything is submitted to ACRA, you’ll receive a Certificate of Incorporation and a Company Business Profile via email. You’ll need soft copies of these documents for legal and contractual activities.
The Singapore start-up scene has grown rapidly in recent years. The country’s openness to global capital and technology, support for free-market competition, and investment-friendly policies have made it a magnet for entrepreneurs. And global investors are taking notice. Investors such as Dave McClure’s 500 Startups and established venture firms like DFJ are stepping up their operations here.