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Most foreigners find it easy to start a business in Singapore due to its pro-business attitude. You just need to be aware of additional regulations and permits that apply to non-Singapore Citizens. Singapore has an open and efficient immigration policy that makes it easy for foreigners to visit Singapore and look for business opportunities.
Branch of a foreign company
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All branches must be registered with the Accounting & Corporate Regulatory Authority (ACRA).
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You need to hire a professional firm to register on your behalf.
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Any person who wishes to register a branch of a foreign company is advised to engage a professional, e.g. a lawyer or an accountant to assist him in the preparation and filing of the application for registration via Bizfile.
Registering a Foreign Company
The Companies Act requires a foreign company to appoint two local agents in Singapore to act on behalf of the company. The agents must be ordinarily a resident of Singapore i.e. a Singaporean Citizen, a Singaporean Permanent Resident, or a person who has been issued an EntrePass/Approval-In-Principle letter/Dependant Pass. A foreigner who wishes to act as a local agent of a foreign company can apply for an EntrePass or Approval-In-Principle letter from the Work Pass Division of the Ministry of Manpower (MOM).
Applying for a New Foreign Company Name
The Companies Act requires that a company name must be approved before the company can be registered. A proposed company name will not be approved if it is identical to the name of another local company, branch of a foreign company or business firm. Undesirable names, including offensive or vulgar names will also not be approved.
Application for approval of a company name can be submitted online via Bizfile through a professional firm or service bureau. S$15 is payable for each approved company name. An approved name will be reserved for 60 days from the date of application.
Processing will be done within 15 minutes of payment. However, if we need to refer an application to another government authority for comments, it may take another 14 working days. If a name appeal application is submitted, the processing may take another 5 working days. Click here for the Referral Authorities Table, which lists all names and activities that may require referral to another government agency.
Registration of a Foreign Company
egistration of a foreign company must be submitted online via Bizfile by a professional firm/company. A registration fee of S$300 for a foreign company with share capital and S$1200 for a foreign company without share capital. Generally, processing takes place within 15 minutes of payment.
How to apply for an Extension of the Reservation Period for an Approved Foreign Company Name
An application for extension of the name reservation period for another 60 days can be submitted online, upon payment of an application fee of S$10 for each approved name.
How to withdraw a New Foreign Company Name Application
An applicant can withdraw the application for an approved company name if he/she does not wish to continue to reserve the name.
Representative office in Singapore
Setting up a Representative Office (RO) in Singapore is a good way for foreign businesses to explore business opportunities in Singapore or the region.
New business or company
You can also register a sole-proprietor, partnership, limited liability partnership or incorporate a company in Singapore.
You will need to apply for an Employment Pass under the EntrePass Scheme at the Ministry of Manpower (MOM).
Information on the various business structures in Singapore and how to register can be found in the "Register your business" section.
EntrePass
The EntrePass allows registered entrepreneurs and their families to live in Singapore. You may leave and re-enter Singapore any time and it is renewable for as long as the business remains viable.
Multiple Journey Visa
The Multiple Journey Visa is ideal for business executives who travel in and out of Singapore frequently either to attend to business matters and investments or to look for business opportunities in Singapore. The visa is valid for 1, 2 or 5 years.
Passes for foreign employees
If your branch office, representative office or newly established business intends to hire employees from your home country, you will need to apply for Employment Passes and Work Permits.
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Source: http://www.acra.gov.sg/, www.business.gov.sg
