Yes it is.
In addition to the pro-business environment created by Singapore’s economic and manpower policies, Singapore’s highly educated and large population of business talents has been a key incentive for Singapore company setup by foreigners looking to invest globally. In addition, the Singapore’s company setup requirements are also welcoming for businesses of all size and scale:
- An ACRA-approved Company Name
- Minimum of 1 Shareholder
- At least 1 local resident Director
- At least 1 local resident Company Secretary
- At least S$1 Paid-up Capital
- A physical registered Office Address
Register Company in Singapore for Foreigner
Foreigners (above the age of 18) on EntrePass or Employment Pass or Dependent’s Pass, with the proper permission granted, can own and enjoy 100% shareholding in the company they register, just like local residents, and gain residency in Singapore to run their business locally.
If relocating to Singapore to run your business locally is your intention, you will need to:
- Engage a Company Setup Agent to register your company with ACRA (as foreigners cannot self-register their company in Singapore)
- Appoint a local resident Director, who is a Singapore Citizen or Permanent Resident, or engage the services of a local Nominee Director (until such time when your work pass is approved and ready)
- Apply for your Employment Pass or EntrePass under the business entity you registered (find out more about Work Passes from Singapore’s Ministry of Manpower)
- Transfer the Directorship to yourself upon securing your work pass
Foreigners who wish to remain where they are and not relocate to Singapore can similarly appoint a Nominee Director and Company Secretary with company setup and operate the business remotely.
Your company setup agent will assist you to register company in Singapore for foreigner, without your having to be in Singapore in person.
If setting up an overseas a Subsidiary Company, Representative Office or Branch Office for your existing company as part of your global expansion plan is your intention, READ THIS to find out more.