Comprehensive Information for Business Development and Registration in Singapore

Comprehensive Information for Business Development and Registration in Singapore Singapore is one of the urbanized cities in Malaysia. Although lots of travelers visit Singapore, this city has gained its recognition as a financial center in this world. Several foreigners have chosen Singapore as the best destination to start a business. Due to the low corruption risk and various other facilities, Singapore has become a very popular city to the potential entrepreneur.

However, you have to know everything to set up a business successfully in the city. We present you with a brief guide to help you in developing a company in Singapore as a foreigner.

Most of the entrepreneurs have a common question- How to open a business in Singapore as a foreigner. They try to get information on company registration and different other things for the business setup.

Tax benefits for the foreign entrepreneurs As one of the foreigners, you will have no issue in registering your business in Singapore. You will get all the advantages of a Singaporean. While you have incorporated any private limited corporation, you will turn out to be one of the tax residents in the city. The tax benefits will be accessible to your private company.

Presently, the rate of income tax in the corporate field ranges from 8.5 percent to 17 percent.

The best fact is that this rate is much lower than what we have found in other cities in this world. This is highly advantageous to the new entrepreneurs, opening a corporate unit in Singapore.

Registering the companies in Singapore as a foreigner For Business registration Singapore as a foreigner, you will get several opportunities. Based on your own corporate goal and target, you may develop

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Representative Office- Any foreign corporate unit may establish this office to assess business growth potentials in the marketplace. However, you have to develop the entity to research on the market. You must not target at any profitable activity. Your parent company name has to be correspondent to that of the branch office.

Branch Office- Most of the SMEs register Singapore branch office, and it helps their parent company to get different benefits. After the process of registration, this branch office turns

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out to be one of the legal units. It can become a wing of your parent company, dealing with all the liabilities and debts.

Subsidiary Company- It is one of the highly viable business setups to the foreigners. The subsidiary companies are the units having limited liabilities. One of the advantages with these subsidiary units is that the entity remains separate from your parent company. After developing the subsidiary companies, you have to send your workforce to Singapore for dealing with the business affairs.

The marketplace in Singapore and various administrative rules are also very favorable for the development of your business. EDBI is one of the indexes to know the business setup potentials in a country. As per this index, Singapore has gained the second position, where you will be able to grow your business easily. You can accomplish the standard registration process without much issue.

Do you apply for EntrePass?

One of the major requirements for administering the business-related operations is to send an application for EntrePass. However, to get this EntrePass, you have to make sure that  

Your business is legal You have registered your company You have not covered 6 months from the date of registration

However, EntrePass is not essential for the foreigners, who will not reside in Singapore for managing the business operations. Another best fact is that the minimum age to become a company director is just 18 years.

Thus, the above guide will help you to establish a successful business in Singapore.