If you are considering setting up a company in Singapore, you will need to familiarise yourself with the local business structure and compliance requirements. The country is a pro-business environment with state-of-the-art IP protection, a robust corporate tax framework and a strategic geographic location close to major emerging markets. It also attracts many VC investments.
The first thing you need to consider is what type of company you want to register in Singapore. The most common option is a private limited company. This offers protection to the shareholders as it operates as a separate legal entity from its owners, making it more attractive to investors.
After you decide on the type of company, the next step is to prepare a draft constitution or articles of association. This document states the company’s objectives, rules and processes. It should be clear and concise. It will also specify the rights and liabilities of each shareholder, including the amount of capital invested. The last step is to submit your application to ACRA (Accounting & Corporate Regulatory Authority).
Once the registration process is complete, ACRA will send you a soft copy of the certificate of incorporation. You will need this for contractual purposes, like opening a bank account and signing an office lease. It will also serve as proof of your company’s existence. You will also need a Company Business Profile, which contains the details of your company and can be obtained online for a small fee. how to set up a company in Singapore