There is a heavy demand for business consultants in Singapore because setting up a company is very easy with their assistance. Business consultants in Singapore are familiar with the procedures and formalities of new company formation. Foreigners who arrive here to start their operations can use their services to start their branches here quickly. Though the company incorporation procedures are simple in Singapore, it may be overwhelming for someone who is not familiar with it. Business consultants can help you make the process very fast. Business registration in Singapore must begin with an understanding of what type of company is most suitable for you.
Types Of Companies Foreign Investors Can Set Up
There are three types of companies that you can register in Singapore for a foreign investor. The Singapore company registration cost will vary according to the type of company that the investor prefers to start. Foreign investors can start either a representative office, branch office or a subsidiary company. The representative office set up doesn’t allow the foreign company to do any commercial activities in Singapore. This type of company is only good for exploring business opportunities here.
When you register a company in Singapore for a foreigner the branch office is best for large companies, while a subsidiary company is good for small and medium organizations. The branch office must have the same name and business activities of the parent company. This type of company doesn’t get any tax benefits in Singapore. The parent company will have full control over the branch office.
A foreign investor can use the company incorporation services in Singapore to quickly set up a subsidiary company. This type of company is fully independent. It is not necessary for the company to have the name or business activities of the parent company. It can register a name that is more suitable for Singapore operations. The subsidiary company enjoys all the tax benefits that are available for the local limited companies. The subsidiary company can be fully owned by foreign investors.
The Benefits Of Using An Agent For Opening Your Singapore Company
The main advantage of availing company registration services is that you can get all the work with the ACRA done by one agency. There are different formalities that you may need to complete to get your company registration done. This will differ with the type of company that you open and whether you want to place a foreigner in Singapore to supervise the activities. These agencies offer various affordable packages tailor-made to suit your requirements.
There is an affordable package for those who have their local director in Singapore. The procedure is very simple. The agency only has to get the company name approved and the company incorporated. There is a package for foreign companies that want to operate from their country. This type of Singapore company formation for non-residentwill need additional services of a nominee director. this will also be provided by the agency that registers the company.
Starting A Company With Relocation To Singapore
Many foreign companies start their operations and would like one of their persons to relocate to Singapore to look after the company working. Such companies will need an employment pass for the foreigner who is relocating. In such cases, the company will be incorporated first and then the agency will process an employment pass. Once the person gets an employment pass, he or she can become the local director for the company.
If you are wondering how to incorporate a company without a local director, this is where the agencies play an important role. They will offer a person as a nominee director who will be your local director. Once the foreigner has secured an employment pass, the nominee director will resign the foreigner can take over as the local director. A foreigner who has secured an employment pass is considered as a tax resident and can get all benefits.
The agencies will also help people with EntrePass to set up their business in Singapore. The government offers this pass to those with some special skills and innovative ideas that can be used for business. But there are many conditions for getting the pass and starting the business here. The business consultants in Singapore can advise you correctly on these matters.
Benefits With Availing Incorporation Services
Appointing a company secretary within six months of incorporation is a condition that all companies whether, foreign or local, must follow. The post comes with a lot of responsibilities. The person must also be thorough with local laws as he or she must guide the directors to run the company as per Singapore company laws. This is one of the compulsory steps involved in the incorporation of a company in Singapore. It is not easy for new companies or foreign companies to find such a person.
When you avail of the services of agencies for incorporating your company, the services of a company secretary come free for one year in the package. This enables the company to run without any violation until the time they appoint a competent person for the post. It also saves the company money that they would have spent by way of salary to such a person.
The company incorporation procedure also requires companies to have a registered address in Singapore. This must be a physical address. You cannot use a post office box for this purpose. For those companies who cannot find a place for their registered office, they can use the address of the consultants at a nominal fee.
In this manner, the business consultants in Singapore have been helping both local and foreign investors to easily start a business in the country.