Singapore is one of the most recommended business destinations in Asia, where global businesses want to incorporate their new branches as well as deal with leading brands and corporate giants to increase approach of their businesses. With this aim, many enterprises have already been moved in Singapore or have started their new ventures out there. So, if you also want to promote your business wings in overseas or the country like Singapore, you will have to follow all legal norms associated with the business incorporation process in the country. Also, you will get several corporate benefits in Singapore by doing business in the nation such as low business taxes, exemption in tax for the new company, secure corporate environment, good economic growth rate, growing GDP, world-class infrastructure, and many more. These features do influence the global businesses to come and trade in Singapore and earn profits for themselves as well as for the country too.
So, if you are interested in setting up a new company in Singapore, here are some useful tips given below to proceed for the same process in a legal manner.
Singapore Companies Act (SCA)
Before starting your Singapore company formation process, you need to be aware of Singapore companies’ act that is mandatory to be followed by all level enterprises in the country. Under this act, your business should match the primary regulations or business types described by the Singapore corporate authority in their norms. It means, there are specific business domains mentioned in the rule book, which can only set up their new branches in Singapore only. So, if your business falls under such condition or type, then you may proceed ahead in Singapore company incorporation process easily.
Singapore Company Registration Requirements
If you want to know about Singapore company registration requirements, you should approach the best-known business registration consultants in the country. The consultants will guide you all possible requirements of Singapore company registration such as all business proofs, details of company’s owner and shareholders, company’s registered name, address proof, bank account details, etc. Besides, you need to have legal Entry Pass to stay in Singapore or business incorporation or registration process to be completed.
Singapore Business Passes
It is also necessary for an entrepreneur, investor, and businessmen, who want to incorporate a new branch of business in Singapore, they should have to have valid business passes to stay in the country till their business registration processes get done. There are different types of business passes available in Singapore that you may apply for diverse purposes such as Entry Pass, Permanent Residency Pass (PR), Employment Pass (EP), etc. Every pass has its significance and validity that you need to understand apply for the right one as per your requirement.
Thus, above are a few relevant tips that you should keep in mind while setting up a company in Singapore for business expansion overseas.
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