If your business is enjoying success and you have set your sights on expanding to Southeast Asia. Singapore is the obvious choice; a thriving economy, a stable government and the unlimited potential of a strong domestic marketplace. Of course, all governments offer incentives to foreign investors and Singapore is no exception, with low income tax and other concessions designed to attract foreign investment.
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International law firm
In order to business register in Singapore, you will need to engage the services of a leading international law firm. The best form of business to register is a Representative Office (RO), which allows you to set up an office in Singapore and you can carry out serious market research. A non-trading entity with one manager from head office, you are not subject to local compliance, which is ideal for research.
Essential business services
If you are planning to manage your business remotely, your law firm partner has all the solutions and can connect you with a diverse range of services, such as;
- Bookkeeping – All your bookkeeping can be handled by remotely located staff who are based in Singapore.
- Filing tax returns – This is an essential aspect of running a business in Singapore and using local specialists, you will always be compliant.
- General secretarial services – Typing up reports, keeping minutes of meetings and general correspondence. Deadlines are met and the standard of work is as you would expect from a professional outfit.
- Company audits – Quarterly reports and yearly financial statements are all managed remotely; staff can access your cloud and can work seamlessly in the background to ensure that your business documentation is up to date.
One very important aspect of running a business in a foreign country is compliance; each nation has its own unique set of rules and regulations for commerce and it can be a real challenge to remain compliant. Network security is standard and remote staff can access with a username and password that you provide.
Sales & marketing
You might, for example, wish to set up a telesales team, which is something your local law firm can arrange; whatever type of market research you are looking to carry out, all the local resources you need are available. If you are looking to hire sales staff in Singapore, talk to you your lawyer and he will be able to put you in touch with a top-rated agency who have the best high-flyers on their books.
If you would like to learn more about opening a Representative Office in Singapore, start with a Google search to find a leading international law firm, then you can enjoy a free Zoom session with a top lawyer in Singapore, which should give you the information you need to make an informed decision. Using local providers, you can manage your business effectively and always be compliant, thanks to legal professionals.
