The process of registering a company in Singapore is not all that complicated but can be a little complicated for someone who has not ever registered a company before.
The company incorporation process in Singapore is efficient, often taking less than an hour via the ACRA's BizFile+ system, provided all required information and documents are in order.
All position holders must be at least 18 years old.
There must be a minimum of two partners.
The partners must be either a Singapore Citizen, Singapore Permanent Resident or an EntrePass Holder or Employment Pass (EP) Holder.
EP Holders should first get a Letter of Consent (LOC) from the Ministry of Manpower.
Singapore is known as one of the easiest countries to start a business.
However, as a business owner, there are certain factors to take into account including the preparation needed and the capital and manpower required.
These factors will depend on your chosen business idea and can affect the ease of starting.
Foreigners can register a company in Singapore easily in a fully digital process.
As a foreign entrepreneur, you need to get ACRA approval for the company name and submit the application to ACRA with the required documents.
ACRA will usually approve your application within one to three days.
