Registration of Singapore Companies in 2023

Setup Company Singapore: The procedure for registering a corporation in Singapore is easy and hassle-free. The government also promotes company incorporation by providing tax breaks and other programs to new businesses. It is for this reason that new business owners choose ACRA-registered companies.

Company Registered With ACRA

The Company Registrar is the Accounting & Corporate Regulatory Authority (ACRA). It oversees the registration of Singaporean corporations. ACRA observes that the procedure complies with Chapter 50 of the Companies Act.

Many Singaporean and international owners choosing to register a company with ACRA require assistance. For assistance in Singapore company creation, they may engage an agent. These experts provide guidance and help with Singapore business formation.

What Do I Need To Know For The Formation Of My Singapore Company If I Don't Live In Singapore?

In Singapore, foreign nationals cannot self-register or form a corporation by themselves. Their duty is facilitated by hiring an agent for Singapore business registration. To migrate and work in Singapore, foreigners also require a Singapore work visa or permit.

Your agent helps you save both time and money thanks to their comprehensive expertise in Singapore business formation. They provide you with detailed options for forming a business in Singapore.

·        How Do I Form a Singapore Company?

·        To register a business in Singapore, you must:

·        Choose a business structure that meets your needs.

·        Sign up your business with ACRA.

·        Create a business bank account

Anyone over 18 may form a corporation in Singapore, according to ACRA. Residents of Singapore, owners of the Entrepreneur Pass (EntrePass), Employment Pass (EP), Dependant Pass (DP), and foreigners are all eligible to register a business there.

·        Instructions for Foreigners Wanting to Register a Company in Singapore

·        You must fulfill extra criteria as a foreigner to accomplish Singapore business registration.

·        Hire a local or resident director (a Singaporean, permanent resident, EP, or EntrePass holder)

·        Give your local office's registered address.

·        Select an accountancy, legal, or corporate secretarial firm that offers Singapore company registration services for the establishment of your business.

Within EntrePass

You can request an EntrePass from the Ministry of Manpower (MoM) as a foreigner and then choose to incorporate a company in Singapore. You must meet all the requirements for Entrepass and demonstrate your credentials as a serial entrepreneur. As a local or resident director for the business, you are free to migrate.

On a work permit

You can register a company in Singapore using an Employment Pass and become its owner or shareholder. You cannot, however, serve as its local/resident director since you are not allowed to work for organizations other than your employer.

You may need to use nominee director services while forming the firm.

An alternative is to register a corporation in Singapore. Then, request that your business secretary apply for an Employment Pass on your behalf with MoM. When you move to Singapore, you can remove the nominated director and assume full control of your business.

Should I Move To Singapore To Run My New Company?

Not, I say! You are not required to move to Singapore after the firm is incorporated. You may also manage your business from your home or another location.

However, you must name and retain at least one nominee director at the time of Singapore company registration.

How long does it take to register a company in Singapore?

ACRA typically needs 1-3 days to register a Singaporean corporation. The approval process might take up to two months if your application is forwarded to the Minister.

It also relies on how fast you and the other shareholders and directors provide your company secretary with the necessary paperwork for confirmation.

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