Finance

How to Incorporate Your Business in Singapore

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Company incorporation Singapore is a process that takes about two weeks and is relatively straightforward. The first step is to submit an application to the Accounting and Corporate Regulatory Authority (ACRA). When it comes to incorporating a business, there are many factors to consider. One of the most important decisions is choosing the right location. For many businesses, Singapore is a perfect choice.

sign up registered office address

Why incorporate in Singapore?

There are many reasons to incorporate in Singapore. Here, some of these are given below:

1. Favourable tax regime

Singapore has a highly favourable tax regime for businesses. Corporate taxes are low, and there are various incentives and schemes available to help businesses grow.

2. Pro-business environment

The Singapore government is very pro-business and takes measures to make it easy for businesses to operate in the city-state. For example, there is no minimum capital requirements for setting up a company in Singapore.

3. World-class infrastructure

Singapore boasts a world-class infrastructure, making it easy for businesses to connect with suppliers and customers around the world.

4. Good quality of life

One of the top reasons to set up a business in Singapore is that its residents enjoy a high standard of living and good quality of life.

5. Attractive incentives

There are various attractive incentives offered by the Singapore government, including grants and tax rebates.

The Process: What to expect?

There are a few steps to take in order to incorporate your business in Singapore. The first step is to register your company with the Accounting and Corporate Regulatory Authority (ACRA). This can be done online through BizFile+. After registering your company, you will need to apply for a business license from the Singapore Economic Development Board (EDB). Once you have registered your company and obtained a business license, you will need to open a corporate bank account.

The process of incorporation can be completed entirely online and takes about three days. After registering your company with ACRA, you will receive an email with instructions on how to complete the remainder of the process. When applying for a business license from the EDB, you will need to provide information such as the type of business you will be conducting, as well as the expected number of employees.

Steps to Incorporation: How to do it?

This can be done online, and you will need to have the following information ready:

-The proposed company name

-The registered address of the company

-The names, dates of birth, nationalities and addresses of the directors

-The share capital of the company

-A copy of the proposed company constitution

Once your application has been approved, you will need to pay a filing fee and stamp duty. Once these have been paid, you will be issued a certificate of incorporation. The final step is to open a corporate bank account.

Incorporating your business in Singapore is a great way to expand your company. The process is simple and straightforward, and there are many resources available to help you get started. With a little planning and preparation, you can be up and running in no time.

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