Guide to Registering Your Company in Singapore from India
Expanding your business to Singapore can be a strategic move, given its business-friendly environment and robust legal framework. This guide will walk you through the essential steps to register your company in Singapore from India.
1. Choose a Business Structure
The first step is to decide on the type of business entity you want to form. The most common structures are:
Private Limited Company (Pte Ltd)
Branch Office
Representative Office
Each structure has its own advantages and disadvantages, so it’s important to choose the one that best fits your business goals and operational needs.
2. Select a Company Name
Choose a unique name for your company that complies with Singapore’s naming guidelines. You can check the availability of your desired name on the ACRA (Accounting and Corporate Regulatory Authority) website.
3. Appoint Directors and a Company Secretary
Directors: At least one director must be a resident of Singapore (a Singapore citizen, permanent resident, or an EntrePass holder).
Company Secretary: You must appoint a qualified company secretary within six months of incorporation.
4. Register Your Company with ACRA
Follow these steps to register your company:
Prepare the Required Documents:
Company Name Approval: Ensure your company name is approved by ACRA.
Company Constitution: Draft the constitution (formerly known as the Memorandum and Articles of Association).
Director and Shareholder Details: Provide details of directors and shareholders.
Registered Address: Provide a local Singapore address for your company.
Submit the Application:
Register your company online through ACRA’s BizFile+ portal.
Pay the registration fee (typically around SGD 300).
5. Obtain Necessary Licenses and Permits
Depending on your business activities, you may need to apply for specific licenses and permits. Check the GoBusiness Licensing Portal for more information.
6. Open a Corporate Bank Account
Once your company is registered, open a corporate bank account in Singapore. You’ll need your company registration documents and the directors’ identification documents.
7. Comply with Ongoing Requirements
Ensure you comply with ongoing regulatory requirements, such as:
Annual General Meeting (AGM): Hold an AGM within six months of the financial year-end.
Annual Returns: File annual returns with ACRA.
Tax Filing: Submit corporate tax returns to the Inland Revenue Authority of Singapore (IRAS).
Benefits of Registering in Singapore
Business-Friendly Environment: Singapore is known for its ease of doing business.
Strategic Location: It serves as a gateway to the Asia-Pacific region.
Tax Incentives: Enjoy various tax benefits and incentives.
Robust Legal Framework: Provides a stable and transparent legal environment.
By following these steps, you can successfully register your company in Singapore and take advantage of the numerous opportunities available in one of the world’s most dynamic business hubs. If you have any questions or need further assistance, feel free to reach out to us at Kanoonwise.com.