Foreign Company Setup Singapore

This guide helps you start a business in Singapore. You need to understand what different business types in Singapore. We have links about different business types like private limited companies. And single-owner businesses, and partnerships.¹ There’s also help for HR tasks like bookkeeping and payroll services.

Workers like it in Singapore because there are good job chances and pay. Business people like the easy business rules in Singapore. Singapore also has special tax breaks for foreign business owners. We will explain more about if you decide to start a company here.

Starting a company in Singapore might be hard, but the benefits like tax breaks make it worth it. The World Bank even says Singapore is the second-best place in the world for doing business! ²That’s why many foreign businesses like to start companies in Singapore.

If you want to start a business in Singapore, you have to follow some rules set by the government. These rules are not too complicated. But foreign people can’t start a company in Singapore by themselves, only local people can. However, local people have to understand the business rules very well, or there can be delays.

Laws for starting a company are set by the Accounting & Corporate Regulatory Authority³ . Both local and foreign people have to follow these laws. Another way is to get help from a professional company like WLP Group to start your company. They know all the rules and can make the process easy.

Choosing a well-known local agent like WLP Group is the best way to start a company in Singapore. They know about all the complicated rules needed to start a company in Singapore. And can help you start your company without any trouble.

Before you start a business in Singapore, know the different business types. Each type has its own features and effects on your business.

We’ve written about each business type for you. Sometimes, it’s hard to know how each type changes your business.

Call us at +65 6493 2970 if you have questions about starting a foreign company in Singapore.

Foreigners often choose these business types:

• Own business (Sole proprietorship).

• Partnerships with limited risk (LLP).

• Small companies (Private limited or Pte Ltd). This is best because it has many good points, like limited risk.

Click on the links below to learn more about each type. WLP Group helps start businesses. Talk to us for free advice or more info on business types.

Picking the right business type is important for many reasons:

1. Taxes: Making mistakes in taxes can be bad in Singapore. Singapore has strong rules and big fines.
2. Costs: There are costs when foreigners start a company in Singapore.
3. Risk: With a private limited company, your personal things are safe if your business loses money.
4. Marketing: How you plan to tell people about your business.
5. Working with others: Being a private limited company looks good. Other businesses trust it more because it has many rules to follow.
6. Who starts the business: It’s easier for Singaporeans or PRs than foreigners. Foreigners need work papers and other documents.

There’s a table above with more information. It can help you decide which business type is best. The table talks about benefits, problems, and rules. If you want to save time and money, ask our experts for help. WLP Group can give good advice for your new business.

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Once you’ve finished Step 1 and chosen your business type, it’s time for Step 2. Step 2 is about getting your papers ready to start a foreign company in Singapore.

You’ll need:

• Name: Think of three names for your company. Check if the online names are free. The name should be different, short, and not rude. The government of Singapore shouldn’t dislike it.

• Director: Choose someone from Singapore to be the director. If you’re from another country, this person must be from Singapore. You need to have permanent residency, or have a special business pass.

• Shareholders: List at least one person or up to 50 people or businesses who own parts of the company.

• Secretary: Choose a secretary within six months of starting. They must live in Singapore. A business, like WLP Group, can be the secretary. The director and secretary can’t be the same person.

• Auditor: Choose someone to check your money papers. Do this in the first three months.

• Address: Write the Singapore address for your company. If you’re from another country, it should be a real Singapore office, not a mailbox.

• Money: Tell how much money shareholders have given for their company parts. You need at least SGD $1.

• Rules Paper: Make a paper with all company rules. This paper should say what directors and shareholders can and can’t do. It must be perfect.

Once you’ve finished Step 1 and chosen your business type, it’s time for Step 2. Step 2 is about getting your papers ready to start a foreign company in Singapore.

You’ll need:

• Name: Think of three names for your company. Check if the online names are free. The name should be different, short, and not rude. The government of Singapore shouldn’t dislike it.

• Director: Choose someone from Singapore to be the director. If you’re from another country, this person must be from Singapore. You need to have permanent residency, or have a special business pass.

• Shareholders: List at least one person or up to 50 people or businesses who own parts of the company.

• Secretary: Choose a secretary within six months of starting. They must live in Singapore. A business, like WLP Group, can be the secretary. The director and secretary can’t be the same person.

• Auditor: Choose someone to check your money papers. Do this in the first three months.

• Address: Write the Singapore address for your company. If you’re from another country, it should be a real Singapore office, not a mailbox.

• Money: Tell how much money shareholders have given for their company parts. You need at least SGD $1.

1. Rules Paper: Make a paper with all company rules. This paper should say what directors and shareholders can and can’t do. It must be perfect.

.If you’re from another country and want to start a company in Singapore, here’s what you need to know:

1. No DIY Registration: Foreigners can’t start the company on their own. You’ll need a local expert, like a secretarial company or an accountant, to do it for you.
2. Local Director Needed: You must hire someone from Singapore as the main person in charge.
3. Visit for Banking: If you’re opening a bank account for your company, you might need to come to Singapore. Many banks want the main people of the company to be there in person.
4. Follow Basic Rules: Like everyone else, you have to follow the basic steps to start a company.

Thinking of using our services? Click the link for a special discount for new business owners! Have questions? Share your info below, and we’ll help you get started!