Easy steps towards company registration in Singapore for foreigners.

With so many benefits, Singapore is one of the best countries to be chosen for expanding your business. It is a source of connection between many countries, as it is in the middle of Southeast Asia. It plays the role of a bridge between Asian countries and the US. Singapore is ranked as the number one politically stable country with its essence of beauty. It offers beautiful sceneries, massage centers, delicious food, low taxes, a business-friendly regulatory environment, and is recognized internationally.

By looking at these perks, foreigners are interested in moving their heads towards Singapore and want to expand their business there. This article will help you, that how company registration in Singapore for foreigners can be achieved conveniently.

Why foreigners are interested in registering a company in Singapore?

Foreign businesses are likely to start their company in Singapore because it’s a hassle-free process and can be done conveniently. Moreover, the government of Singapore offers various tax exemptions and deals to startups. It is the reason why foreigners prefer to have an ACRA-registered company.ACRA (Accounting and Corporate Regulatory Authority) is a company registrar. It helps you in the registration of companies and makes sure they are well-aligned to the Companies Act. Whether locals or foreigners, both need help with company registration. For this, they have to hire someone who knows well about the rules and regulations of the Singaporean government. Hiring someone will save you time and money.

Additionally, foreigners cannot self-register their company. They will need a Singapore work pass to come and work in Singapore. So, hiring a professional will relieve you from this headache.

How a foreign business can register a company in Singapore?

There are mainly 2 options for company registration in Singapore for foreigners:

• Transfer to Singapore through an Employment Pass, EntrePass, or ONE Pass work visa.

Or,

• Staying abroad and nominating a resident director for your company.

Let’s discuss in detail how it is done.

Registering a company with an Employment Pass in Singapore:

The foreigner can register a Singapore Private Limited Company through the services provided by the agent companies. These include a local nominee director, a local company secretary, and a local physical company address. After the incorporation process, you can apply for Employment Pass. Once the Employment Pass is approved by the Ministry of Manpower, you can transfer to Singapore and look after your business. After this, the job of a nominee director ends, and you can solely take charge as your company’s director.

Registering a company with EntrePass in Singapore:

Foreigners willing to start a company and run their business in Singapore can apply for EntrePass from MoM (Ministry of Manpower).

Eligible entrepreneurs can apply for EntrePass before the company registration with ACRA.

Registering a company with ONE Pass in Singapore:

ONE Pass (the Overseas Networks and Expertise) is Singapore’s newest work visa that not only provides a chance to start and run a business in Singapore but gives many other benefits.

Registering a company in Singapore and employing a nominee director:

The step is similar to the one with the Employment Pass. The only difference is that you must appoint a nominee director, you don’t have to transfer to Singapore to look after your business.

If you are planning to start and run a company in Singapore while living outside, you need to appoint a local director (authorized representative) to look after your business. It is the main requirement for a foreigner for company registration in Singapore to have one person from each category a local of Singapore:

• Company directors
• Authorized representatives
• General partners
• Managers

            According to Singapore’s Companies Act, a foreigner living abroad can also own the shares of a Singapore-registered company and may be appointed as a foreign director of the company.

Company registration in Singapore for foreigners:

According to the above scenario, foreigners can easily register their company in 3 steps:

Filling the form:

Fill out the online form provided by your agent company and provide them with the necessary documents.

• Appointing nominee director and corporate secretary:
• To register a company in Singapore for foreigners, the company must appoint a local director residing in Singapore, known as a nominee director. A nominee director can’t make any business decisions, but he is legally liable if the company does not comply with the laws and regulations of Singapore.
• A corporate secretary must be appointed by you, who must also be a resident of Singapore. It should be done within six months of registration. The company secretary is responsible for providing all the administrative and advisory support to the company’s board of directors, and ensuring that the company obeys accurate laws and regulations of Singapore.
• A must-have company registered address, that is registered with ACRA. It must be a physical address and not a PO box address. This address is the way of communication between the Singapore government and the company.
• Your company is ready to get registered:

After receiving your company’s information and important documents, the agent company will start your company’s registration process.

To save you time and money, you must go for a well-experienced and renowned agent company who knows every bit about company registration in Singapore for foreigners.

Winding up:

To help you run your business smoothly and conveniently in Singapore, a well-established company, Shane Goh and Associates will assist you through each step. This company has made a record of 100 company registrations in Singapore for foreigners successfully.