How to Setup a Company in Singapore


Singapore has been renowned as one of the most developed countries in the world and has become the richest country in South East Asia.  The place has been widely selected by the Multi National Corporations (MNCs) as the main location of their Asia Pacific headquarters mainly because of its positive business environment; according to the Ministry of Trade and Industry (MTI).  Singapore is popular to most foreign investors because the quality of living is as good as the Western nations.  And for the most part, Singapore, a leading global city, is offering excellent tax benefits.

With these advantages, small-to-medium size and even Fortune 500 companies have been attracted to put up a place for their businesses in Singapore.  Setting up a business in Singapore has never been that easy, if you wish to know how to setup one, take note of these pointers below:

* A foreign investor may apply for a working visa such as an Employment Pass for their employees and staff should you wish to setup a business and relocate in Singapore.
* An Entrepreneur Pass is also required to put up a business in Singapore.  This pass does not necessarily require a tertiary level of educational attainment not like the Employment Pass.
* A foreign investor may be eligible to be the local director as well by the virtue of an Employment Pass.
* In cases like, a company cannot provide a local resident director, they may employ in a Singapore nominee director service.  This type of service is being offered so foreign companies can act in accordance with the requirements.  This person however, is not in any way involved in the operations of the business.  Nor is accountable for any damages or losses of the company.
* A nominee director needs not to sign any documents pertaining to the business.
* A nominee director can be a shareholder or a non-shareholder.
* A nominee director must be at least 18 years of age by the time of their appointment.  However, for a director to be the local resident, the age must be at least 21.
* Aside from the nominee director, a shareholder (at least one) is required; can be a person or another business entity.
* If one wishes to hire a nominee shareholder, it is feasible.  However, in Singapore, 100% ownership of company shares is possible.  Hence, hire a nominee shareholder service and allow them to hold shares on trust.