Singapore is a multicultural city that is quickly becoming the most important international business hub of the world. You will find all types of businesses setting up in Singapore from investment firms to franchise food businesses. Singapore welcomes new business ventures with open arms and makes it relatively easy for you to begin your exciting new journey.
Business in Singapore
Starting a business in Singapore may be easier than any other country. You will not be required to seek approval from the government unless you wish to open a bank or other types of financial institutions. You will not be restricted in moving your finances and funding in and out of the country. The government is highly lenient on foreign investment and all businesses are able to be 100 percent foreign owned. While Singapore is flexible and welcoming, be certain to check with your home country to ensure you will not face any challenges from a domestic standpoint.
Select a Business Structure
Selecting a business structure is necessary just like any other country. You will be required to register and incorporate your business with Companies Act (CA). You can either register and incorporate your business as an individual foreigner or as a foreign business. You will be able to open a business as any number of types of business such as a representative office, branch, subsidiary, incorporated company, limited liability partnership, limited partnership or sole proprietorship. You must decide which type of business will be ideal for your business needs.
Find a Location
Selecting a location in this stunningly beautiful country may be one of the greater challenges to opening your business in Singapore. You might choose a location in any one of the modern architectural marvels that fill the city or you could also select a more modest location. Offices exist that feature business centers, meeting rooms, private offices and spectacular views. Many buildings offer state-of-the-art security and luxury amenities to provide the greatest conveniences to all tenants and guests alike. You will be able to find something for any budget and purpose. Check out Singapore’s CBD commercial properties to find the ideal locations for your wants and needs.
Doing business in Singapore has never been easier. People the world over are learning of the ease in which business is conducted and doing so in growing numbers. Setting up business in Singapore is essential to remain connected to the world in the coming years.