Sunday, May 26, 2024

Starting a business in Singapore

Singapore is an ideal place for any global companies to set up their businesses. The investments and strong trade relations make it one of the most competitive countries in Asia. Strict enforcement of intellectual property laws, free trade agreement, and double taxation avoidance make it easier to start your company.

This article enlightens you on the comprehensive steps to starting and registering your company in Singapore.

1. Registering your company

Whether you’re a local or foreign investor, it is ideal to register a company with Singapore authorities before starting any operations. It would help if you chose a service provider to help you during this process. Rikvin is a service provider with an expert who will advise you on all the registration needs like grants, policies, and tax concessions in Singapore. The service providers offer the services to both foreign-based and local-based investment.

2. Finding the company’s premises

Singapore provides a wide range of choices for choosing the premises of a company. You can choose the location of your company. When choosing the premises for your company, you can opt for setting it at the heart of the headquarters or a suburban estate. The government assures these companies of premium infrastructure and facilities for the setup. After your approval, seek the help of a service provider company like Rikvin to help you with the corporate administration and company secretarial functions.

3. Recruiting workforce

After setting up the company premises, it is more difficult to acquire both skilled and unskilled workforce in most countries. However, the situation in Singapore is different. The substantial pool of both local and international workforce attracts most companies to Singapore. After registering with a company in Singapore, you will find a lot of workforce for your company through various ways. The most common way you can get through the various recruitment agencies.

Furthermore, you can also find more employees at Enterprise Singapore. Also, remember that the Singapore Company Act requires your company to appoint a secretary within six months. Rikvin can provide your company with the services of a secretary who should be a Singapore resident. Lastly, you can try out training programs to partner with other cooperatives and agencies to get a quality workforce. Always remember that for any non-resident workforce, you need a special pass for them to work in the country.

4. Assistance from government agencies

Worldwide, Singapore is best known for its inter-agency cooperation, which helps grow most businesses and companies. The economic development board ensures that the investor has a first-rate business environment. Lastly, the Accounting and corporate regulatory authority oversees all the registration and regulation of the company’s entities. Furthermore, they provide information on any new business structure and governance practices.

The bottom line

Registering a company in Singapore becomes one of the essential steps in starting an investment. Consider service providers like Rivkin to help you navigate through this effortlessly. After the registration and setting up of the company, you need to be conversant with the Singapore statutes to avoid problems with the state agencies. Lastly, when hiring any non-resident workers, you need to apply for a valid work pass.

Sam Allcock
Sam Allcock
Sam heads up Cheshire-based PR Fire, an online platform that has already helped over 10,000 businesses to grab widespread media coverage on their news at an extremely accessible price point.

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