Are you interested to setup a Singapore company? This article will definitely provide you with comprehensive information about incorporating a new firm in Singapore. The information is outlined categorically since Singapore company registration varies from foreign individuals, foreign companies, Singapore residents and offshore companies. On this article we are going to discuss company registration for foreign individuals and foreign companies. We will provide the other two company registration types on our next article.
Below are the necessary documents for business registration and important considerations before setting up a Singapore company.
Company registration for foreign individuals:
Option 1: Singapore company incorporation and relocation to Singapore with Employment Pass - if you are a Foreign Entrepreneurs, Professionals, Managing Directors and Shareholders who possess an acceptable diploma/degree, professional qualifications or specialist skills. Oftentimes, relevant work experience also plays a significant role in determining your eligibility. Employment Pass is the preferred choice for most foreigners who want to set up a company in Singapore.
Option2: Singapore company incorporation and relocation to Singapore with EntrePass - if you are a Foreign Entrepreneur who lacks the appropriate educational qualification or does not qualify under the Employment Pass scheme, but has proven track records of successful entrepreneurial experience. The application process for Entrepass is more complex than that of Employment Pass. In addition, it requires a minimum paid-up capital of S$50,000.
Option 3: Nominee Director Service - if you are a foreigner who plans to operate a company in Singapore without having to relocate. Singapore allows the set up of your company in Singapore provided you appoint a Singapore resident director when incorporating the company. If you cannot find a trusted contact to act as the Singapore resident director, you can engage our Nominee Director Service at Rikvin.
Company registration for foreign companies:
Step 1: Choose the most suitable business structure for your company (Singapore subsidiary company, Singapore branch office or Singapore representative office). For details on these business structures, please visit Rikvin.com – the official website of the leading company incorporation firm in Singapore.
Step 2: In Singapore, foreigners are not allowed to self-register a company thus the services of a company registration specialist like Rikvin should be employed.
Step 3: Appoint a Singapore resident to be the director of the company.
Step 4: Provide a Singapore address as the registered address for the company. Alternatively, you can also engage a Registered Address service through Rikvin.