Facts About Singapore Business Registration for Foreigners

1. PRLog - Global Press Release Distribution
Facts About Singapore Business Registration for Foreigners
Source: SBS Consulting - sbsgroup.com.sg
Dated: Jul. 20, 2013
A businessman who intends to explore business opportunities other than his own nation will be happy to
know about the features Singapore government offers for company registration in Singapore.
SINGAPORE -- Singapore has witnessed supreme growth and development in the last few years. It has
transformed itself completely from what it was in the past. The transition from a small and sleepy Southeast
Asian island to become one of the five busiest sea ports in the world, Singapore's overall transformation is
incredible and motivational. This is the reason, innumerable foreigners are considering Singapore as their
business center to operate their businesses. Singapore government is offering full support to foreign
nationals to make Singapore their business home and to mark their presense in the history of Singapore's
economy.
The businessman wishing to mark their footprints in Singapore have to obtain the work permit visa, which
is known as Singapore EntrePass. The entrepreneurs without a formal degree can obtain the visa by
presenting proven track record of a successful entrepreneurship. The Singapore Ministry of Manpower
(MOM) is the governing body to issue an EntrePass. The entrepreneur has to register his company with
Accounting and Corporate Regulatory Authority (ACRA).
Requirements to fullfill when set up a company in Singapore
· There should be 1 director (a Singapore resident), 1 shareholder, and 1 company secretary.
· There should be a proper office address registered with government.
· The registered company should be a Private Limited Company.
· The minimum capital of S$50,000 has to be paid.
· There should be share holding of 30% - 100% in the company.
Steps to take to set up a company in Singapore
· Submission of form with required details, that includes:
1. Company name
2. Business activities
3. Information about the directors and shareholders
4. Passport details
5. Identity proof
6. Nationality
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2. PRLog - Global Press Release Distribution
· Making payments and preparing business plans.
· Application submission for EntrePass
· Incorporation of company in Singapore
If a person wishes to register a company in Singapore, without being physically present, he can do so by
appointing a nominee director. By furnishing all the necessary and relevant information to the nominee
director, one can submit the application form. This facility is provided to relieve the applicant from the cost
involved in traveling to the city and staying here. This will also save the precious time to be invested
elsewhere.
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