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Foreign Company incorporation in Singapore with Paciol
Do
you want to expand your global business overseas with Singapore company
incorporation for foreigners? Then get your company registered, appoint a nominee director, get a work pass and start your company in Singapore within no
time with Paciol.
Adhering
to the Companies Act and
starting your own private limited
company can be challenging in Singapore. Especially when you are
not a permanent resident and
are looking forward to setting up a branch or opening a subsidiary
office, then company incorporation can cost you more time and money. That's
when you can get in touch with the best company secretary in Singapore to set up a company. Wondering how? Here
is a guide from us.
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The pre-incorporation process
- For the pre-incorporation process, foreign companies should
decide on a unique and non-conflicted company name, get a director of the company,
finalise the paid-up
capital for the company, decide their business activity, obtain
the employment pass,
etc. To avoid confusion or unnecessary delays, businesses should go for a
corporate secretary who can help with the overall process.
- The next step is deciding on the company
structure. Foreign professionals must evaluate each option close and
finalise the company types based on their business needs. They can go
for a sole
proprietorship or private limited company. However, there is
this opportunity for foreign companies to open their company's
representative office or subsidiary office in Singapore.
The
subsidiary company is a Singapore registered company that is completely
operated and owned by a foreign company. On the other hand, the branch office
is an extension of the parent company. The branch needs to appoint at least one
authorised representative who is a Singapore resident or an employment pass
holder. Foreign companies can also set up a representative office to conduct
market research and understand the opportunities in the Singaporean market.
- The company must also come up with a company
constitution that includes vital aspects such as registered office
address, business activities, rights and liabilities of the company
directors, secretary and shareholders and the process to manage internal
operations.
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How to register your business?
Once
you get your documents in place, register your company and submit all the
necessary information. If you are a foreign resident, hire corporate services
to make the process seamless. In addition, submit the following documents,
including:
- Company name registered with ACRA
- Particulars of your shareholders, directors,
and company secretary
- A brief overview of business activities with
the SSIC code
- Copy of passport and residential proof for
foreign directors and endorsed shareholders
- Details of the registered address of the
company
- EntrePass for non-local directors
- A signed document of consent to act as
director
- KYC documents such as bank reference letter
business and personal profile, etc.
- Foreign companies also need to submit the
memorandum and articles of associations and the incorporation Certificate.
They must appoint an authorised representative from the parent company to
be accountable for all the business operations in Singapore.
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Post Incorporation Process
The incorporation
isn't the end for companies in Singapore. There are several steps after that as
well. Some of these are listed by our experts. Dive in to find out more!
- Foreign business owners, directors and shareholders need an employment pass
or an entrepreneur pass to stay in Singapore permanently. If you are
planning to relocate, ensure to get these work permits for seamless
handling of your company.
- Assign at least one audit to your company
within three months of your registration, unless your company is exempted
from all the audit requirements
- Open a corporate bank account.
- Choose the Financial Year End for your
company. It is the final day of its accounting period, which can either be
for 12 months or 52 weeks. File your annual return and annual return and
holdings depending on your company's FYE.
- Maintain company registers and a ledger of all
the board and general meetings.
- Keep your company's information up to date.
When any changes take place, you need to notify the update to ACRA within
14 days from the change of filing. Any change in the company's business
activity, director or shareholder change, change in company address or
cessation of the company secretary, CEO, or auditor should be informed to
ACRA.
- Ensure to follow the trademark registration.
Typically, companies use trademarks to show their uniqueness and
authenticity. File your trademark via the IPO's website or mobile app and
create your unique business identity
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Our Offerings
When
you decide to go for our foreign company incorporation in Singapore,
here are the services that you can avail of:
- Company
incorporation or
registration service
- Compliance regulatory with ACRA
- Basic Secretary package
- Assistance in setting up digital business
accounts
- Support with ACRA company profile, company
constitution, e-notice of incorporation, share certificates, and more
- Nominee director service
- Accounting and bookkeeping package
- 1-year registered address service along with our
profound cloud storage
Are
you still looking for services regarding foreigner incorporate companies in Singapore? Get in touch with
Paciol now to start your business
in Singapore.
FAQs
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How long can the company incorporation take?
Once
you complete all the pre-incorporation steps, it won't take you more than a day
or two to register your company.
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What services do you provide?
We
offer corporate secretary services, local registered addresses, nominee
director services, and company constitution services for businesses looking
forward to incorporating their brand.
3. Do
I need a company address?
Yes,
as per the Companies Act, all businesses in Singapore are required to provide a
local registered address. At Paciol, you can get a local registered address
along with the nominee director and accounting and bookkeeping services to meet
your company's compliant regulations.
4. Do
I need to relocate to Singapore to start a business there?