Guidelines for Foreigners To Register Company In Singapore

by Darrell Miguel

Singapore is a famous business center for business people. The people who are interested in starting a new business or expanding their business Singapore is an ideal destination. Singapore ranked as the best place for starting the business. With some of the assets to depend on, the economic success of the country is recognized to its trade network, which made it the right choice for setting up the business in the country. 

There are different types of business structures in the country, such as sole proprietorship, private limited company, and limited liability partnership. According to your needs, you can select the right business structure to start your business. Company incorporation in Singapore provides you the best way to operate your business successfully in the country. 

Required documents for Singapore company incorporation 

Registering the company is a difficult task. If you have decided to register the business in Singapore, then you should have essential documents and information. The company registrar will require some documents like registered address, name of the company, information of shareholders, business activity description, company secretary particulars, and much more. All individuals must require these documents to register their business in Singapore. The company registering agency will collect all these documents to help the customers register their company at a lower price.

Before the foreigners can start their company in Singapore, the business should be incorporated first. Lots of the incorporation procedure is similar for both the foreigners and residents. Before the incorporation of the company, you should follow a few requirements. The company should have a registered address in the country. The company should have the shareholder at least one. The company secretary should be appointed before a few months from the date of Singapore Company incorporation. 

Open bank account in Singapore 

If you need to operate the business in Singapore, you should open the corporate bank account in the country. Opening the bank account is a simple procedure. The foreign people who wish to extend their company in Singapore are recommended to do it. It is essential to select the bank, which provides excellent corporate accounting features that fulfill the needs of banking. You can open the company bank account in any bank based on your needs. Some of the documents are needed to open the bank account like a certified copy of company memorandum, article of association, director proof, and others. The foreigners who need to open the bank account in Singapore will want the certified passport copy. 

Employment pass 

The employment pass is vital to register the business in Singapore. The foreign people who like to start a company need to apply for the employment pass. It is provided by the ministry of human resources that works visa. It intended for the managers, professionals, foreign workers, and others that allow them to work or live in the country. Based on the ministry of manpower, particular criteria should be fulfilled by the employment pass candidates before they receive this pass. The candidate should have obtained the job offers in the country. 

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