Registration of a company in Singapore: how to give a good start to your business

Company registration in Singapore https://imperiallegal.com/ru/media/articles/how-to-register-company-in-singapore can be a relatively simple procedure and the country provides different types of business organization with different requirements and benefits. Here are the main points to consider:

• company type: There are different types of companies that can be registered in Singapore such as Private Limited Company (Pte Ltd), Sole Proprietorship, Partnership and Limited Liability Partnership (LLP). Pte Ltd is usually the most common choice for SMEs.
• minimum capital: Most companies are not required to have an authorized capital. This means that it is possible to register a company with zero capital.
• management and shareholders: Pte Ltd must have at least one director who is a resident of Singapore and one shareholder (individual or legal person). At the same time, you can be both a director and a shareholder of your company.
• registration: You can use the services of registered agents or contact the Singapore Accounting and Corporate Regulatory Authority (ACRA) yourself.
• Company name: You will need to choose a unique company name that is not already in use in Singapore. Also, of course, the name must be appropriate and not violate the laws or moral standards of the state.
• legal addressin which the company will be registered, naturally, must be.
• documentation: You will have to provide a fairly large package of documents, including copies of passports of directors and shareholders, written consent of directors and shareholders to participate, as well as documents confirming the address of the legal leased property.
• permits and licenses: Depending on the industry and activities, a special permit or license may be required.
• timing and costs: Registration of a company can take several days and cost different amounts depending on the type of company chosen and the services provided by registered agents.

Business in Singapore — why it’s profitable

Doing business in Singapore is considered beneficial for a number of reasons, including the following benefits:

• attractive tax system: Singapore has one of the most attractive corporate tax systems in the world. Income tax is low and amounts to 17%. And there is a double taxation system, which means that profits earned abroad may be exempt from taxation.
• Singapore is famous for its political stability and transparency, as well as a strong economy. This creates favorable conditions for business and investment.
• convenient location: Singapore is located at a strategic point in Southeast Asia, making it an ideal location to expand business in the region and interact with other Asian countries.
• efficient infrastructure and communications: Singapore has a developed infrastructure, modern technology and high-speed Internet connections, making it easier to do business and connect with the world.
• ease of doing business: The process of registering a company and doing business in Singapore is relatively simple and transparent. It provides support for entrepreneurs, including online services and effective government.
• Singapore provides strong protection intellectual property and strict trademark, patent and copyright laws.
• Singapore has a multi-ethnic population and attracts highly qualified specialists from around the world, providing access to a diverse and competent workforce.
• access to financial resources: Singapore is a financial center with access to banking services, investment and capital.
• Singapore has agreements about double taxation with many countries, which reduces the risk of double taxation for companies doing business in the global market.

These advantages, experts emphasize, truly make Singapore an attractive place to do business and invest, especially for international companies and entrepreneurs. However, of course, there are many subtleties associated with a specific type of activity.