Company registration in Singapore
The process and requirements of setting up a company in Singapore are straightforward. Registering the company in Singapore takes a day as ACRA approves the registration of a new company in only a few hours. Singapore has one of the most efficient and bureaucracy-free regulatory frameworks in the world, Singapore is the top-end country in the world for doing business.
Process and timeline
Within one day the whole process of Singapore company registration will be complete after receiving the documents. Our expert will send the documents to the client hardcopy or soft copy to the client, our client does need not to travel to Singapore.
After the company incorporation next step is to open a bank account, once the account is opened clients can start their business transactions.
Mandatory requirement to Register a Company in Singapore.
It is mandatory to appoint a at least one resident director. The resident director must be a Singapore citizen, permanent resident or entre pass holder. YKG team will provide the nominee director if in case local director is not available.
Type of companies in Singapore
Sole Proprietorship: This form of ownership entity is owned and managed by one individual alone. The sole proprietorship is simple and easy to form set up and the maintenance costs are low, so it is appropriate for a small business. But the owner personally faces unlimited liability for debt and loss.
Private Limited Company (Pte Ltd): A private limited company is an independent legal entity separate from its owners. It, therefore, enjoys wide acceptability among businesses whose very idea is to limit the personal liability of the owners. The ownership of Pte Ltd usually remains with a small number of shareholders.
Public Limited Company (PLC): A public limited company can borrow or sell its shares to the public and thus raise huge capital. PLCs are more regulated and require more reports compared to the Pte Ltd, and mostly slot in for large and well-established businesses.
One-Person Company (OPC): This is a private limited company having only one member as a shareholder in the company. An OPC, on the other hand, provides an easier route for businesses having only one owner to enjoy the compliance benefits.
Foreign Company: A foreign company is incorporated outside of Singapore but has operated business within the country. Every foreign company has to be registered with a registration certificate and adhere to their respective laws and regulations which are in force.
LLP - Limited Liability Partnership: This is a hybrid structure combining elements of a partnership with those of a company. It affords limited liability to all the partners and is finding increasing favor with professional firms like law firms and accounting practices.
Company Limited by Guarantee: It is a nonprofit company; it does not have shareholders, with its members liable to contribute an amount specified to the company in case of winding up. CLG entities are normally utilized for charitable and community-based organizations.
Branch Office: It is a representative office of a foreign company in Singapore. It is not allowed to conduct business on its behalf and contains some restrictions.
Benefits of company incorporation in Singapore.
- High Quality of Life
- Global Connectivity
- Excellent Infrastructure
- Skilled Workforce
- Strong Intellectual Property Protection
- Low Tax Regime
- Efficient Bureaucracy
- Business-Friendly Environment
- Stable Economy
- Strategic Location
How YKG Global will assist you in Company Registration in Singapore.
End-to-end assistance: With YKG Global, you will get assistance from expert Chartered Accountants (CA) and Certified Practicing Accountants (CPA) who understand Canadian corporate laws and regulations. We handle the complete registration process and post-registration compliance with bank account support.
Online Process: You can register your company in Singapore remotely and there is no need to visit Singapore. At YKG Global, our team in Singapore will handle the entire process, from due diligence and name reservation to obtaining incorporation certificates, and tax registrations. For the corporate bank accounts you may need to visit there, it depends on the bank's requirement.
Fast & Transparent Timelines: Once all documents are received, our team will conduct due diligence and reserve your preferred company name. after the company incorporation, our team will provide you with registration documents, and certificate of incorporation, and other key documents.
We will assist you in opening your bank account within 30 days of incorporation, providing you with all required forms and support for KYC (Know Your Customer) processes.
Customized Solutions according to Business Activities: YKG Global advises you to choose the best company structure that suits your business needs, whether it is a Private Limited company, public company, sole trader, branch office, or representative office. Our expert will advise you through the legal and operational implications of each type.
Over Four Decades of Expertise: With over 40 years of experience and a global presence in more than 40 countries, YKG Global has a very good understanding of the Singapore's business registration and compliance.
