Business registration Singapore is a key component for entrepreneurs looking to expand into Asia. Singapore ranks second in the World Bank’s “Ease of Doing Business” index and has a robust economy, well-established capital markets, and a strong financial system. As a result, Singapore is a popular choice for companies seeking to establish operations in Asia.
When registering a business in Singapore, you’ll need to decide which type of legal entity you want to form. The most common type of company in Singapore is the Pte Ltd, which is a limited liability company that shares its assets and liabilities with its shareholders. Shareholders can be individuals or corporate entities, and 100% foreign ownership is permitted. Another option is the sole proprietorship, which is a simple and inexpensive structure but provides little protection to the personal assets of the owner.
Once you’ve decided on a business structure, the next step is to register the company with ACRA. This can be done through ACRA’s online portal if you are a Singapore citizen or permanent resident. If you are not, you will need to work with a professional firm like Piloto Asia, which is a registered filing agent (RFA).
As part of the process, you’ll need to submit your company’s constitution (formerly known as the memorandum and articles of association). You can use the standard template provided by ACRA or ask your professional firm to draft one for you. You’ll also need to nominate a director and a company secretary. business registration Singapore