Things a Foreigner Needs to Know Before Starting a Company in Singapore

If you are a foreigner wishing to incorporate your company in Singapore, you may be wondering about a few things. One of them could be whether you can open a Singapore company without living or even go there. You may have reasons like limited budgets or time. Good news for you: it is possible to incorporate a Singapore company without having to visit the country. All Singapore company registration formalities can be handled by a professional agency. You will have to discuss with them regarding all the details and this is possible to be done through e-mail or phone. Just make sure that you can send all the necessary documents needed. For payments, you can opt for PayPal or bank transfer.

However, you will be required to visit Singapore if you wish to open a bank account for business purposes, depending on the bank you choose.

Here are a few things a foreigner may need to consider regarding Singapore company incorporation.

Engage with a professional agency to help you with company registration. As a foreigner, it is stated in the Singapore law that you are not allowed to register your company yourself. You must go through the procedures using a trusted professional firm. This will also help you navigate easier through all the procedures.

You don’t need to obtain any special Singapore visa for private limited company incorporation. But, if you wish to relocate to Singapore, then a visa is needed. Your Singapore company can be operated from overseas. Take note that you must appoint a local director. This is a mandatory requirement. A local director must be either a Singapore resident, Singapore citizen, or an employment pass holder. The minimum age for the local director is 18. To choose a local director, you may also ask for assistance from the professional agency. If you wish to relocate to Singapore, then you must obtain an employment pass or entrepreneur pass to be able to work. Once you have acquired a legal work pass, you are allowed to be a local resident director of your company.

Document Requirements for a Singapore Company Registration

These documents are required for the procedures of company incorporation. All the documents must be submitted in English.

First of all, you need to pay an incorporation fee to the professional agency. Then, you will have to decide on a company name. You must pay attention not to break any law regarding the name choosing such as using obscene or vulgar words or infringe copyright and such. The agency will help you through this process as well, they will advise and check the availability of the company name. Next, you must provide passport copy, official residential address proof copy, and fill up a questionnaire form that includes address, passport number, and the name of directors and shareholders of your company, please visit the website to read more on the recent update, https://www.companyregistrationinsingapore.com.sg/

Those required documents mentioned above is usually sufficient for the agency to prepare for your company incorporation. The company incorporation will be done online and should be done in approximately five working days. However, this depends on how compliant you are in providing the required documents.