If you’re planning to put up a company, you may want to select Singapore as your business site. It’s practically a place that can be considered to be beneficial for business owners. Mainly, the country is filled with not only locals that earn well but also tourists who are willing to pay large amounts of money just so they could grab hold of products and avail of special services. Getting things shipped to and from the place is also easy because it has quality airports and wharfs. But, even though you may be capable to establish your own brand in the said country, you have to understand that there are still things that need to be handled prior to any business relocation. If you want to find out more about company registration Singapore, please read below.
Singapore is open to business owners worldwide but its government does require foreigners to comply with certain rules. Though it is a place that’s welcoming to people coming from abroad, most people who go in the country are required to be in possession of visa document. In most cases, visitors must have a passport. If you don’t have either or both then you ought to secure them so that you could increase your chances of being allowed to stay in Singapore. But, if you’re going to do business in the place, you really need to have your business name registered. Today, you could have your brand’s name listed online. However, before you could get your business’s name included as one of Singapore’s legitimate enterprises, you still have to consider that you need to have a Singaporean citizen act as a director of your company. Aside from that, you also need to have a secretary who is a local as well. Moreover, you also have to present capital that could prove to the government of Singapore that you may be able to maintain your enterprise once it’s established in the country. The Singaporean government is cautious when it comes to screening people because some criminals with malign intentions pose as business owners.
Whether you’re going to create a corporation, sole proprietorship or a limited liability type of company, you ought to be wise when it comes to registering your business. If you’re intention is to make a business that would live on after you’ve passed on from this world, you ought to go ahead and register your enterprise as a corporation. Through this approach, you need to find shareholders first. If you want to have a company that would have members which may be responsible for the decision making of an enterprise but are free from obligations outside of business, you could make it listed as an LLC. Whichever approach you’d select, though, it would be smart for you to think things thoroughly. Do some forecasting and feasibility studies prior to making commitments so that you would get your money’s worth later on. Before signing documents and registering your business name as either of the types of companies mentioned, you ought to foresee how you’re going to make money and deal with customers plus your employees once your enterprise would be functional.