The city-state of Singapore has been attracting individuals, companies, and investors for several years. Its stable economy and enviable business environment have made it a global hub that has drawn in start-ups and multinationals alike.
The country welcomes innovation and supports entrepreneurs by giving them the tools to succeed. Singapore’s low corporate taxes, easy way to move resources, and other key policies make it an excellent place for businesses to thrive.
To open a company in Singapore, you must fulfil a few crucial requirements. Here’s a checklist of the main ones:
At least one director needs to be a resident in Singapore at the time of company registration. The resident director can be a natural person above the age of 18 or a company that is legally registered in Singapore.
Alternatively, you can use our nominee director service to fulfil this requirement. However, the person must be a Singapore citizen, Permanent Resident, or hold an EntrePass visa.
Nominee directors cannot own shares or act as company secretary, but they do have the right to receive dividends and profits.
A Singapore registered office is required for all new companies. This is the official local address for all correspondences with ACRA, government agencies, and banks.
The ACRA-registered address can be a PO Box or an office suite. The cost of renting a basic serviced office for two people in the central business district can run from S$2,000-S$3,000 per month. how to open a company in Singapore