Rules For Foreigners To Start A Business In SingaporeDean
Foreigners are highly benefited to starting a business in Singapore. The business-friendly government has framed the laws in favor of the foreign entrepreneurs looking forward to trying their luck in Singapore. The highly urbanized island republic is equipped with the best business infrastructure matching the business infrastructural standards of Silicon Valley and Hong Kong. But in spite of that, investors have the opportunity for saving more profits because of the easy tax systems.
Let’s check out some rules for the foreigners to start a business in Singapore—
Registration of the company
On the first step, foreigners have to register their business in Singapore. We at VentureHaven can guide foreign clients throughout the company registration process in Singapore. Let us help you in choosing a name and logo for your business, which is mandatory according to the Accounting and Company Regulation Authority (ACRA).
With our extensive experience and the talent pool of efficient business counselors, we have successfully helped innumerable foreigners across the globe to register their businesses in our country.
Choose our services to experience a hassle-free company registration alongside our assistance will help you understand the law and processes you’ll have to follow while starting a business in Singapore.
You’re going to enjoy various benefits by incorporating the company. Per the rules to Accounting and Company Regulation Authority (ACRA)- you’ll have to appoint a company secretary within 6 months of incorporation. If you’ve two company directors, then any one of them can also be appointed as the company secretary.
But according to rules, the directors of the company and the company secretary have to have a permanent resident status in Singapore. With the EntrePass visa also, you can appoint them.
By making your business a corporation, foreigners can save more instead of paying heavy taxes. You’ll have to pay the corporation tax, while the sole proprietorship or partnership business owners have to pay income tax.
Hiring a company secretary
We can help you with the responsibility of a company secretary. Our services have been purchased by many foreigners for appointing directors and company secretaries that have to play a major role in running the business.
According to the Singaporean business laws, foreigners have to hire a company secretary within the six months of registration and incorporation. You can also do that for having a local resident helping you in your business even in your absence.
These are a few rules foreigners have to follow while starting a business in Singapore.