Being a foreigner in Singapore can be an adventure. There are so many things to keep in mind, and so much to learn. But with the right steps, it can be a smooth ride. Here’s an Ultimate Guide: company incorporation by foreigners into Singapore.
In Singapore, incorporation is the process of creating a company and formally setting up business activity. Incorporation is not required for some companies, but it can be beneficial in order to reduce expenses and get more taxation breaks. There are three main steps in the incorporation process:
1. Check if you are eligible for incorporation.
There are a few different eligibility requirements depending on the type of company you want to set up, but generally you’ll need to meet certain criteria including being registered with the Registrar of Companies (ROI) and having a corporate seal. If you’re not eligible for incorporation or don’t meet all the requirements, there are other ways to set up your business in Singapore. For more information, see our Guide to Setting Up a Company in Singapore.
2. file an application with ROI
Once you’ve been certified by ROI as ineligible for incorporation, you will need to file an application with them in order to have your application processed. The filing process usually takes around two weeks and will include a summary of your business plan as well as supporting documents like invoices/ receipts etc., which will be used as evidence during your hearing later on. You can find more information about how to file an application here or on their website .
3. submit an application with the authorities
Once your application has been filed and received by ROI, they will start processing it according to their regulations . The authorities who handle Incorporation in Singapore are the Registrar of Companies (ROI) and the Courts at Law (CCL). They will look into your applications and make decisions based on factors like whether or not your proposed company meets all the necessary requirements and how much money you could potentially save through incorporation alone!
The benefits of incorporation by foreigners can be many and varied, depending on the specific circumstances of your case. For example, if you have established an American-based business in Singapore and would like to incorporate it into a Malaysian-based company, there may be tax advantages involved (such as reduced corporate taxes). Additionally, incorporation can allow foreign businesses access to essential legal services and protections in Singapore society that their American counterparts cannot enjoy (such as protection from trade libel laws).
Incorporating a company in Singapore can be a great way to create a successful business. There are many requirements for incorporation, but the benefits of doing so are numerous. foreign incorporations offer many opportunities for businesses to expand and grow in their local markets. By following these tips, you can create an incorporation package that is perfect for your business.
