Having secured second place in the latest Ease of Doing Business ranking conducted by The World Bank, Singapore is an ideal location for any company to start operations. Starting a company in Singapore requires the new business owner to register with the relevant government agency, open a bank account, and comply with various legal requirements such as tax filings. We at Timcole can take care of the entire process for a smooth and seamless experience for your company. Our services include company registration, legal compliances, paperwork and post-registration filing.
The first step in registering a company in Singapore is to decide on the corporate structure. You can choose between a sole proprietorship, exempt private limited, non-exempt private limited, public limited, or a partnership. You will also need to decide whether your new business is to be an offshore company. If you are unsure about the best structure for your business, we can assist in identifying and researching all of the different options available to you.
Once you have decided on the company type, you will need to submit an application with the Registrar of Companies. This will include a business profile, directors’ details, and the proposed company name and number. It is also necessary to submit address proof documents, and if any of the directors are foreigners, their NRIC or work permits should be included.
Once your company is registered, you will need to open a bank account with a local or foreign bank. You will also need to register for Goods and Services Tax (GST) and Central Provident Fund (CPF). starting a company in Singapore