Singapore is hailed as a leading financial business hub which is the reason it has earned the title as one of the ideal places to set up a company. Economically speaking, for quite some time now, Singapore has been a preferred target for foreign businesses and investments. Simultaneously, it has encouraged local companies to grow bigger and prosper. All these are because of the fact that it is relatively easy to set up a company here.
One of the primary reasons that foreigners are drawn to establish their businesses in Singapore is that it is an English speaking country. Official documents are in the English language which means that communication will not be an issue at all. Those who have been doing well in this endeavor can attest that the transition has been a smooth flowing one. All they have to do is to secure an Entrepass to be able to legally operate a business.
Another factor for consideration is that the Accounting and Company Regulation Authority or the ACRA is quick and easy to work with when it comes to company registration. The required minimum paid up capital of SGD1 is quite low. The amount of time necessary to process the business registration itself may take just a few hours given that all the required documents are complete and presented. On the condition that foreigners appoint at least one director who is likewise a Singapore resident, permanent resident, holder of an Employment Pass, Dependents' Pass or the EntrePass, they can already wholly own a private limited company.
An increasing number of people aspire to work in the Lion City given its topnotch infrastructure, supportive government policies, extremely advanced telecommunications system and the high prospective to earn access to a huge market in the Asia-Pacific area. Singapore, being a place where there's a high standard of living, boasts of excellent medical care services as well as an education program that's admired by many.
Singapore doesn't only attract tourists with its scenic spots, it likewise draws people in to become permanent residents. It has easily become more and costlier to live in Singapore which, many specialists believe, is the reason that it provides the best quality of life.
One of the primary reasons that foreigners are drawn to establish their businesses in Singapore is that it is an English speaking country. Official documents are in the English language which means that communication will not be an issue at all. Those who have been doing well in this endeavor can attest that the transition has been a smooth flowing one. All they have to do is to secure an Entrepass to be able to legally operate a business.
Another factor for consideration is that the Accounting and Company Regulation Authority or the ACRA is quick and easy to work with when it comes to company registration. The required minimum paid up capital of SGD1 is quite low. The amount of time necessary to process the business registration itself may take just a few hours given that all the required documents are complete and presented. On the condition that foreigners appoint at least one director who is likewise a Singapore resident, permanent resident, holder of an Employment Pass, Dependents' Pass or the EntrePass, they can already wholly own a private limited company.
An increasing number of people aspire to work in the Lion City given its topnotch infrastructure, supportive government policies, extremely advanced telecommunications system and the high prospective to earn access to a huge market in the Asia-Pacific area. Singapore, being a place where there's a high standard of living, boasts of excellent medical care services as well as an education program that's admired by many.
Singapore doesn't only attract tourists with its scenic spots, it likewise draws people in to become permanent residents. It has easily become more and costlier to live in Singapore which, many specialists believe, is the reason that it provides the best quality of life.
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Click for further information on Business incorporation or Business registration.. Free reprint available from: Choosing Singapore As A Place To Form A New Company.
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