Register new company in Singapore
When you intend to work in a nation like Singapore, you will soon be aware of why it’s so popular. As one of the best nations in the world to live and work within, Singapore is a location that ensures you can make the most of every opportunity. Not only will running a company in Singapore be good for business, but it will be a good expansion.
Singapore is one of the best nations to register a business due to its adjacent contacts. You can easily make lucrative business deals with those nearby nations, too. By having a base in Singapore, you can spend more time making sure that you get extra value for your time and your money. There is a big reason why so many people choose to register new companies in Singapore, and part of it comes from the lucrative opportunities in the business sector.
By being able to make partnerships in nations that you could never have done so until now, Singapore company registration makes a lot of sense. On top of that, though, you can quickly and easily start to register new companies in Singapore without the ongoing threat of making a mistake. The only challenge that you have is making sure that you follow the rigorous company incorporation and registration process.
If you are not a native of Singapore, then understanding their registration laws can be tough. In that case, we recommend that you look to hire some kind of professional help. They can make sure that you get the job done as soon as is possible, maximizing your chance for genuine success in the Asian market. How, though, can you go about setting up a company here in Singapore?
What kind of company will you run?
Before you can go ahead with registration, you have to understand what you are registering. For example, do you run a public company or a private company?
As the name implies, a Private company is one which will be run without having to provide public access to their accounts. They will have a maximum of 50 members. They will also be run with a different kind of methodology from a Public company. With a Public company, you will be expected to raise capital by providing shares to members of the public who may wish to join up. You have 50, or less, members.
You will also need to decide if you want to be running a Limited company or not. A Limited company is one that has a liability to itself; therefore, you would not be held liable should the company make a mistake. If you are not a Limited company, though, you would be held liable for any issues that arise due to the business itself.
This is why having help when it comes to getting started in the country makes so much sense. Anyone who wishes to be the director of a company, for example, must be at least 18 years of age, and you must have a local residential address in Singapore. Without that, you do not have the means to start a company and involve it in the country.
If you are intent on working within Singapore and running the company while you are in the country, you might have to get a Work Pass Singapore. Without a work pass, then you might not be able to operate your business within the country as you had intended.
It’s these factors and the numerous mistakes that can be made that make it easy to hire help when it comes to company incorporation.
How do I get a work pass in Singapore?
Much like moving to any other nation in the world, living in Singapore will mean getting access to the country via a visa. Any foreigner, who wishes to work within Singapore, or start a business, must have access to a work visa. Some know this as an Employment Pass, but the name can change. These passes are often aimed at people who wish to work in a managerial or executive role. You will be expected to earn around S$3,600/month, with the salary adjusting depending on your experience.
You will also need to arrive with either specialist expertise or university qualifications, as well as professional qualifications. You might also wish to go for entry to Singapore via the Global Investor Programme, which would give you access to Permanent Residence in the country.
To do that, you would need to be able to invest as much as S$2.5m into a new business entity, or invest in a GIP fund that is for Singaporean companies. This is why so many people often look for help when it comes to registering a company in Singapore. Obtaining everything that you need to start a company in Singapore can be tough work, with it being really easy to make a mistake on your application.
To avoid wasting valuable time and effort, you should look to bring in any help that you can. This will go a long way to making sure that you can get the most out of your time as a professional. It will also ensure that you can spend longer working on the development of your business rather than the registration.
With so much to do to make sure your business is a success, it pays to be properly organized. So, if you want to register a new company in Singapore, you should look to bring in third-party assistance. The time saves and the minimization of potential mistakes ensures that your first company registration should be as easy as is possible.