🎯 Why to incorporate in Singapore?
✅ Business-friendly ecosystem ( Better than India ) ✅ Best and stable political and economic environment ( you all know about India ) ✅ Strong protection of IP rights ( Intellectual property ) ✅ Tax rate is capped at something 15-20% ( lemme search for exact if i get, but according to few sources it differed so i mentioned 15-20% and yea it's capped at that itself ) ✅ 100% Foreigners ownership ✅ No hassle in accepting international payments ✅ Gateway to Southeastern part of Asia ( Thailand, Indonesia, Malaysia, Etc... ) ✅ Even with 1000rs capital you can register a company in Singapore ( i have mentioned capital properly doesn't mean there are no charges )
How to Incorporate ⁉️ The process to incorporate in Singapore is a bit difficult but if you figure out it's easy
Choose a Name for your company, you can check your company name is available or no on : https://www.bizfile.gov.sg/ and also you have to register or apply your name you, can do it in same website too !
Registered address in Singapore also is mandatory obviously for registering in Singapore or any other country registered address in their own country is necessary.
Choose the business structure you wanna register ( as am speaking about early stage startup, preferred structure will be Pte limited ( private company limited )
Hire a local Company Secretary and Nominee Director (mandatory), if you wanna act as local director then you have to apply for an EntrePass from Ministry of manpower.
Register on Bizfile : https://www.bizfile.gov.sg/instruction/entity-registration
Then now you can Open a Singapore bank account for transactions.
If you need to aoply for extra licence Singapore ministry will notify you to get those licence ( if you have stated your business concept ), so apply for the required licence.
Time needed ⏰ : Usually 1 - 3 working days but can take upto 7 days sometimes. Cost💰 : You would be needed SGD$ 400-500 ( Including licence if any )
✅ Ideal for B2B, SaaS, Fintech startups looking to go global or Looking tk expand in south east asia.
⚠️ Follow the rules and guidelines of Singapore government strictly and follow all the tax frames. Understand the nature of your business and make a decision properly if your business needs to be incorporated in Singapore. ( You can even open subsidiary if required ) Singapore is one the best to go global and seek easier foreign investments too.
This guide will help you to use bizfile to incorporate a company in Singapore
https://www.acra.gov.sg/docs/default-source/default-document-library/about-bizfile/bizfile-guide/bizfile-guide---incorporate-local-company.pdf
This guide will help you to use bizfile to incorporate a branch of your company in Singapore
https://www.acra.gov.sg/docs/default-source/default-document-library/about-bizfile/bizfile-guide/bizfile-guide---register-foreign-company-branch.pdf