Good news! is that Singapore is one of the easiest countries in the world to start a business. And why do some people choose to start their own business in Singapore?
There are several reasons why like the strategic location, Pro business environment, skilled workforce, strong economy and the government support.
And that is only the few of many reasons why entrepreneurs are starting to look for Singapore to start and grow their business.
But how do you start? We will walk you through the time and cost you may take on your journey in building your business in Singapore.
Register your company in ACRA (Accounting and Corporate Regulatory Authority) – Less than 1 day
- This process will start with your company name application. An application fee of SGD 15 is payable for each approved company name.
- You can either pay the fee while still incorporating your business, or pay after the incorporation. Whichever is convenient for you. Please take note that once the company name is approved, the reservation is only good for 120 days.
- This may take 14 working days to 2 months.
Sign up for Employee Compensation Insurance at an insurance agency – 1 day
- This is one of the requirements needed by the Singapore government
- Time and cost may depend on the arrangemen
The cost of incorporating a company in Singapore can vary depending on several factors, such as the type of company you want to register, the services you require, and the level of assistance you need.
In general, the cost of incorporating a company in Singapore can range from around SGD 1,000 to SGD 3,000 or more. This includes fees for registration, government charges, and professional services such as legal and accounting fees.
It is also worth noting that ongoing compliance and maintenance costs will apply, such as annual filing fees, accounting fees, and tax filing fees.
To get a more accurate estimate of the cost of incorporating a company in Singapore, it is best to consult with a professional service provider who can advise you on the specific requirements and costs based on your unique situation. Which we can help you. Just email us at firstname.lastname@example.org
You may want to take advantage of Singapore’s reputable and credible government; Property protection, a well-developed financial systems, friendly tax rates and foreign ownership and no exchange control.