Offshore investors in Asia often consider Singapore as their first preference for setting up a company in Asia. With numerous incentives and tax benefits, the country offers enough opportunities for investors, entrepreneurs, multinationals and startups alike. Here are the steps you need to follow.
- First things first, you must consider the right framework for your business. For offshore investors, the choices are many. You can start a subsidiary company, a branch office or a representative office. If you wish to enjoy the tax benefits, it’s best to start a subsidiary company, which will be treated as a separate entity.
- For certain sectors, you will need additional licenses. The list includes banking, manufacturing of certain items like alcohol and beverages, and finance among others. Apart from the basic incorporation process, your application must be submitted to appropriate authorities. Getting an approval will take anywhere between two weeks to a month.
- A fee of $15 must be paid for name approval, along with registration fee of $300. The incorporation process is fairly simple, but if you have any confusion, you can always rely on VentureHaven for your needs. We can take up the registration and incorporation process on your behalf and our team will assist with the entire paperwork and other aspects, as well. You will need one local director, one company secretary and at least one shareholder for the new subsidiary. The company secretary must be appointed within six months of incorporation.
- Once the company is registered, you can start operations, unless other licenses and approvals are required for different government bodies. Keep in mind that the registration process may need more time in some cases, but Singapore is known for its swift procedures and assistance for foreign investors.
- Finally, create a website. You have to create a website for your company as quickly as possible so that you can start with the marketing process immediately. VentureHaven can help with this aspect, as well. Get in touch so that we can plan a website for your corporate needs.
Finally, do consider the need for bookkeeping services. Besides hiring an accounting firm Singapore, you also need a team that can advise on corporate tax matters. It’s important to follow the compliance norms because the lapses can have many repercussions. For more details and to get an appointment with one of our consultants, call us right away or check our website for company incorporation packages.