Singapore Business Registration – Choosing the Right Business Structure
As a business hub, Singapore offers entrepreneurs a gateway to the region’s 600 million consumers. The vibrant city-state is also home to a highly skilled workforce, a supportive environment and a strong tax incentive. Choosing the right business structure and navigating the registration process are vital for any entrepreneur looking to start or expand their venture here.
Whether you’re setting up a private limited company, a limited liability partnership (LLP) or any other type of organisational structure, there are a few basic requirements that must be met to register your business. These include a minimum paid-up capital of $1, a registered address in Singapore, and the appointment of a company secretary.
If you’re a foreigner, you can still register your company in Singapore if you have the required work visas or can engage a Singapore resident director to manage your business on your behalf. You’ll also need to obtain a Custom Registration Number, or CR number, for your business, which you must display on all letterheads and invoices.
A reputable corporate services firm can help you register your business and obtain the relevant permits, including an employment pass or EntrePass for foreigners. FINOVA, for example, takes pride in providing boutique and comprehensive corporate services to clients of all sizes, and can assist with Singapore company registration. They can also assist you with your corporate bank account opening, office lease, and subscription to office utilities such as internet and telephone. business registration Singapore