Company Incorporation
Incorporation of Companies in Singapore, Local & Foreign.
Incorporation of Companies
In Singapore, Local & Foreign
At the outset, selecting the right business entity is crucial. Foreign investors entering the Singapore business landscape should partner with a skilled corporate services provider to submit an Incorporation Application via ACRA’s digital platform.
This process mandates the use of a SingPass, available to Singaporean Citizens, Permanent Residents, and those with a FIN number associated with their employment pass
Launch
The process of Business Incorporation in Singapore boasts unparalleled speed, taking just two-and-a-half days to finalize. This timeline assumes that the application meets approval from ACRA and other pertinent governing bodies overseeing the industry.
A proficient corporate services provider will guide you through the Singapore business setup based on the necessary application information, encompassing the details shown in the adjacent table.
Contrasted with Business Incorporation in Europe, you’ll find that the stipulation for paid-up capital is minimal in Singapore. Importantly, this capital doesn’t necessitate proof via a bank statement. Typically, corporate bank accounts are established after the incorporation.
Keep in mind that every company incorporated in Singapore must maintain a local registered office address and a director who qualifies as a Singapore Resident. This includes Singapore Citizens, Singapore Permanent Residents, EntrePass holders, or Employment Pass Holders with local residential addresses, as they are classified as ‘ordinarily residents’ and fulfill the legal requirement
