Singapore Offers Business-Friendly Laws and Regulation

Singapore has some of the most business-friendly regulations available.  Setting up a business is easy, with less hassle and bother than might be found in setting up a business in another country.  Singapore welcomes foreign business owners and makes it easy to set up an offshore business, so long as proper procedures are followed and all relevant regulations are observed.

While all regulations must be followed, these are much less onerous for owners and investors than might be found in other countries.  There are anti-money-laundering laws that must be adhered to, as well as anti-terrorism laws.  These are extremely important regulations that allow businesses to operate without inadvertently providing aid to terrorist or criminal organizations.

Specifics of Singapore Requirements

Anyone seeking to establish a business in Singapore must address three main issues.  The first is that the identity of the business must be established.  This typically requires proof of the identity under which the business will operate.  Proof of identity for all owners, directors, shareholders and other associated individuals is required, as well.  The second item is that proof must be provided as to the current registered address of the business, as well as the residential addresses of its directors.  These items must be verifiable.  The third item is a declaration of the main reason for incorporating in Singapore.

Singapore Company

The first step that needs to be taken in this process is to actually visit the country.  During this visit, the registration process may be initiated.  This may be accomplished by a firm hired to carry out the initial registration steps.  A professional registration agent that is associated with a law firm or accounting firm will be of enormous benefit in starting and carrying out the registration process.  It may also be beneficial at this point to employ a company secretary.  Taking the best care when starting the registration process will make getting your business together much easier.  You may even want to hire a corporate service firm to ensure that all laws are followed and all steps of the process are completed efficiently.

Getting into the country should be relatively easy due to Singapore’s very efficient system of immigration.  An application can be made to the Immigration and Checkpoints Authority (ICA) that will speed the process of obtaining a visa.  Singapore’s immigration system is open and easy to navigate.

Any company that is set up in Singapore must register with the Accounting and Corporate Regulatory Authority, or ACRA.  Your corporate service firm can help you get through this process and may also be able to provide virtual office services for your new business.  If your company secretary has not yet been retained, now is the time to do that.  The company secretary can help scout locations and take an active part in getting all the registration paperwork completed.

Legal Business Forms Available in Singapore

Your business may be set up as a limited liability partnership (LLP), a sole proprietorship, a limited partnership, a full partnership or as an incorporated company.  Each type offers advantages and disadvantages and it is important that you understand your responsibilities and the liabilities associated with each one.

Staffing and Starting Your Business

Singapore’s immigration policies make it easy to staff your business with people from your country of origin or from within Singapore.  Employment visas are available through the Ministry of Manpower (MOM) and come in a few different types.  Employees typically require an Employment Pass (EP), while owners, directors and others may require an EntrePass.  Once these considerations are worked out, you’re ready to start staffing your business.

For your staffing needs, there are plenty of professional staffing and recruitment firms in Singapore.  Many of these firms are well-respected in the international marketplace.

Singapore’

Singapore Offers Business-Friendly Laws and Regulation

Singapore has some of the most business-friendly regulations available.  Setting up a business is easy, with less hassle and bother than might be found in setting up a business in another country.  Singapore welcomes foreign business owners and makes it easy to set up an offshore business, so long as proper procedures are followed and all relevant regulations are observed.

While all regulations must be followed, these are much less onerous for owners and investors than might be found in other countries.  There are anti-money-laundering laws that must be adhered to, as well as anti-terrorism laws.  These are extremely important regulations that allow businesses to operate without inadvertently providing aid to terrorist or criminal organizations.

Specifics of Singapore Requirements

Anyone seeking to establish a business in Singapore must address three main issues.  The first is that the identity of the business must be established.  This typically requires proof of the identity under which the business will operate.  Proof of identity for all owners, directors, shareholders and other associated individuals is required, as well.  The second item is that proof must be provided as to the current registered address of the business, as well as the residential addresses of its directors.  These items must be verifiable.  The third item is a declaration of the main reason for incorporating in Singapore.

The first step that needs to be taken in this process is to actually visit the country.  During this visit, the registration process may be initiated.  This may be accomplished by a firm hired to carry out the initial registration steps.  A professional registration agent that is associated with a law firm or accounting firm will be of enormous benefit in starting and carrying out the registration process.  It may also be beneficial at this point to employ a company secretary.  Taking the best care when starting the registration process will make getting your business together much easier.  You may even want to hire a corporate service firm to ensure that all laws are followed and all steps of the process are completed efficiently.

Getting into the country should be relatively easy due to Singapore’s very efficient system of immigration.  An application can be made to the Immigration and Checkpoints Authority (ICA) that will speed the process of obtaining a visa.  Singapore’s immigration system is open and easy to navigate.

Any company that is set up in Singapore must register with the Accounting and Corporate Regulatory Authority, or ACRA.  Your corporate service firm can help you get through this process and may also be able to provide virtual office services for your new business.  If your company secretary has not yet been retained, now is the time to do that.  The company secretary can help scout locations and take an active part in getting all the registration paperwork completed.

Legal Business Forms Available in Singapore

Your business may be set up as a limited liability partnership (LLP), a sole proprietorship, a limited partnership, a full partnership or as an incorporated company.  Each type offers advantages and disadvantages and it is important that you understand your responsibilities and the liabilities associated with each one.

Staffing and Starting Your Business

Singapore’s immigration policies make it easy to staff your business with people from your country of origin or from within Singapore.  Employment visas are available through the Ministry of Manpower (MOM) and come in a few different types.  Employees typically require an Employment Pass (EP), while owners, directors and others may require an EntrePass.  Once these considerations are worked out, you’re ready to start staffing your business.

For your staffing needs, there are plenty of professional staffing and recruitment firms in Singapore.  Many of these firms are well-respected in the international marketplace.

Singapore’s Tax Advantages

One of the most persuasive reasons to start a business in Singapore is the tax advantages offered by the country.  Laws regarding taxation of small to mid-sized businesses are very favorable.  These advantages make Singapore one of the most attractive and viable jurisdictions for any new offshore business endeavor.  The corporate services firm that was hired for the initial registration process will be valuable once again by filing returns, completing due diligence items and other related activities.

Conclusion

Setting up a company in Singapore offers several advantages.  Favorable business legislation, tax advantages, open immigration policies and ease of incorporation allows new businesses to flourish in Singapore.  Owners and directors alike are invariably impressed by the ease with which their business got started, the lack of onerous requirements and the simplicity of the process of starting an offshore business in Singapore.

Employing a corporate services firm will help you get through any difficulties in the registration and start-up processes.  Many leading corporate service firms are available to help walk any entrepreneur through the processes involved in getting started as a Singapore business owner.  These firms often provide solutions that are specific to the needs of the business they are assisting in starting.

The immigration policies set up in Singapore make it easy to staff your business as you see fit.  Once you understand what you’ll need to get started, obtaining the work visas required is much simpler than in some other countries.

Business registration is typically fast and easy, giving entrepreneurs an opportunity to thrive in less time than may be required by other jurisdictions.  Choosing a legal form for your business is easier in Singapore, too.  The responsibilities and liabilities inherent with each type are clearly laid out, leaving little room for confusion.

All of these reasons serve to make Singapore very attractive for new offshore businesses.  There is little wonder as to why it is fast becoming one of the most sought after countries for business owners.  New companies are springing up all the time in Singapore and any business person would be wise to jump on the opportunities provided by the favorable laws.  There’s no question that if you’re looking into starting an offshore business, Singapore is your best bet.

 

s Tax Advantages

One of the most persuasive reasons to start a business in Singapore is the tax advantages offered by the country.  Laws regarding taxation of small to mid-sized businesses are very favorable.  These advantages make Singapore one of the most attractive and viable jurisdictions for any new offshore business endeavor.  The corporate services firm that was hired for the initial registration process will be valuable once again by filing returns, completing due diligence items and other related activities.

Conclusion

Setting up a company in Singapore offers several advantages.  Favorable business legislation, tax advantages, open immigration policies and ease of incorporation allows new businesses to flourish in Singapore.  Owners and directors alike are invariably impressed by the ease with which their business got started, the lack of onerous requirements and the simplicity of the process of starting an offshore business in Singapore.

Employing a corporate services firm will help you get through any difficulties in the registration and start-up processes.  Many leading corporate service firms are available to help walk any entrepreneur through the processes involved in getting started as a Singapore business owner.  These firms often provide solutions that are specific to the needs of the business they are assisting in starting.

The immigration policies set up in Singapore make it easy to staff your business as you see fit.  Once you understand what you’ll need to get started, obtaining the work visas required is much simpler than in some other countries.

Business registration is typically fast and easy, giving entrepreneurs an opportunity to thrive in less time than may be required by other jurisdictions.  Choosing a legal form for your business is easier in Singapore, too.  The responsibilities and liabilities inherent with each type are clearly laid out, leaving little room for confusion.

All of these reasons serve to make Singapore very attractive for new offshore businesses.  There is little wonder as to why it is fast becoming one of the most sought after countries for business owners.  New companies are springing up all the time in Singapore and any business person would be wise to jump on the opportunities provided by the favorable laws.  There’s no question that if you’re looking into starting an offshore business, Singapore is your best bet.