This article is about company incorporation Singapore in the year 2020 and beyond. We list down company setup Singapore requirements below as a guide for anyone interested in setting up a company in Singapore. Towards the middle part of this article, some useful links are pointing to various business entities such as private limited company, sole proprietorship and limited liability partnership. You can even submit your business activity details to us if you are keen on engaging us as your preferred professional corporate service provider. We at WLP Group can handle all matters about new company incorporation Singapore / company setup Singapore.
Many people, mainly professionals and foreign entrepreneurs, love to migrate over to Singapore for various reasons. For professionals, Singapore offers better career opportunity, perks and a higher salary. Meanwhile, foreign entrepreneurs like to do business here due to flexible business law. This is proven by the lesser red tapes, relaxed working legislation and attractive tax rebates for foreign entrepreneurs and investors. To further highlight the popularity of Singapore in the eyes of global investors, the World Bank has ranked Singapore as the second-best nation to conduct business! There are no other countries in the South-East Asian region that perform as good as Singapore.
If you are interested in running a business or setting up a company in Singapore, then you need to fulfill several requirements requested by the Singapore government.
In general, the requirements are not complicated but for foreigners, they are forbidden to register their companies on their own in Singapore. As for the Singapore local residents, they can choose to register and incorporate their company provided they fully understand the technical jargons associated with Singapore company incorporation. Just like the foreigners, the local residents also need to meet the requirements set by the Accounting & Corporate Regulatory Authority, also known as ACRA. The second option available to local residents is to engage professional corporate service provider such as WLP Group to manage all matters regarding company registration and incorporation. This is the best option to choose for company incorporation since reputable local registered filing agents like WLP Group knows what it takes to perform successful company registration and incorporation in record time.
The first thing you need to know before proceeding with company incorporation is to understand the difference between each business structure and what benefits and impact can you expect from each entity. Hence, we have listed down all the essential information you need to know the business structure available in Singapore and how each can impact you.
The common Singapore business entities are the:
You may click on the banners below to obtain in-depth information about each business entity.
Choosing the right kind of business structure can help you with the following things that can have a major impact your company, which include: paying taxes, admin costs associated with business setup, liability exposure from your product/service, your marketing plans and goals, partnerships and nationality (whether you are a citizen of Singapore or not).
We have created the table below in order to help you making an informed decision on which business entity you want to incorporate in Singapore. The table contains vital information related to business requirements, benefits and drawbacks and compliance requirement. For higher efficiency in terms of cost and time investment, we recommend you to engage professional company incorporation Singapore service provider like us to make a better decision on your behalf.
Once you know which business entity you want to establish in Step 1, then it’s time to move on to Step 2, which is the preparation of documents for company registration in Singapore. Here’s what you need to prepare beforehand:
The above is the full list of details you need to prepare before you can proceed with company registration/company incorporation Singapore. As a summary, you just need to ensure you have the following minimum requirements ready for company registration in Singapore:
Do take note that company registration and company incorporation Singapore process usually takes 1 business day to complete unless there is some delay from ACRA side.
Any foreigner who is keen to register and perform company incorporation Singapore has to fulfil the following requirements:
Just like all local residents of Singapore, you also need to fulfill the minimum requirements as stated above.
At this stage, if you are interested in hiring us to proceed with the registration and incorporation of your company, then kindly click on the special link below to avail the special discount we have prepared for you!
If you have any questions pertaining company incorporation Singapore, please submit your details below! Thanks!