If you are a foreigner wanting to start your business in Singapore, the best way is to engage a professional firm that can handle all registration processes and provide corporate secretarial services. These firms have been praised for their efficient processes, knowledgeable advice and great customer service. Biz Atom and Rikvin are two popular choices. Both have been able to give satisfaction to both international and local clients.
Firstly, you must decide what legal vessel you wish to use for your business. The most common structures are the Private Limited Company and the LLP (Limited Liability Partnership). Both offer limited liability protection. The LLP is also a very popular option for businesses that operate in regulated industries.
Next, you must choose your directors and shareholders. You can appoint up to 50 directors, both resident and non-resident. You can also have up to 50 shareholders, both natural persons and companies. There is no minimum share capital requirement, but if your company operates in a regulated industry, you will have to meet different requirements.
Once your company has been registered, you will be issued a certificate of incorporation by ACRA. You will also be able to apply for a corporate bank account. Once you have completed the necessary paperwork, it will only take 3-5 working days to register your business in Singapore. You can find more information about the process and required documents on the GoBusiness website. register business Singapore