There are a number of factors to consider before setting up a company in Singapore. Some of the key requirements include:
Choosing a unique name for your business. You must register your chosen name before starting operations to ensure it is not taken by another business. You should also get approval for your company structure before incorporating. This will help you establish your business as a separate entity with limited liability protection. There are a few different options available, including private limited companies and LLPs.
It is important to review your corporate documents carefully to ensure they are complete and accurate. This will reduce the chances of having to correct or submit additional paperwork that can delay the process. It is also a good idea to engage an experienced Singapore registered filing agent like Piloto Asia to take care of your corporate matters, so you can focus on running your business.
You must have a minimum of SGD 1 worth of issued share capital to register your company in Singapore. This can be made up of either cash or assets. Shareholders can be either natural persons or other companies. A maximum of 50% of the total shareholding can be held by foreigners. If your business is a regulated industry, it may require a higher minimum paid-up capital.
Incorporating your company in Singapore is a relatively straightforward process. However, you will need to fulfil added compliance requirements, such as preparing accounts, filing annual returns and conducting audits. You will also need to appoint a local director and company secretary. how to set up a company in Singapore