
<p>Singapore is very much the economic tiger of Southeast Asia, with a stable economy, English fluency and a very large domestic market. You might have a manufacturing facility in Europe and you are looking at potential foreign markets, in which case, Singapore is an obvious choice to get your foot in the door, so to speak.</p>



<p>There are 3 main forms of company registration for foreign investors, which are as follows:</p>



<ol class="wp-block-list">
<li><strong>Representative Office (RO)</strong> &#8211; The RO is designed for a foreign company that wishes to carry out some market research in Singapore; a non-trading entity that is allowed to carry our R&;D – activities are restricted and the business is not bound by local laws and regulations. By using an <a href="https://singapore.acclime.com/accounting/"><strong>accounting company in Singapore</strong></a>, you can remotely manage the office and local secretarial services are always available. You can have 1 foreign manager to oversee the operation and working visas can be obtained.</li>



<li><strong>PLC </strong>– A private limited company is the go-to solution if you want to trade and be unrestricted in your business activities. The entity requires 1 resident director, 1 or more shareholders, a company secretary and you are compliant with local rules and laws. A PLC can be created in a single day, with a simple process when handled by an international law firm, then you are ready to trade; the law firm has extensive associations and can source any service you might need. Click here for the best productivity apps in 2024.</li>



<li><strong>LLP</strong> – Limited liability Partnership – Perfect for professional people such as professors, <a href="https://backstageviral.com/top-qualities-to-look-for-in-lawyers-your-legal-success-depends-on-it/">lawyers</a> and doctors, the LLP is also attractive for foreign investors who set up hedge funds and trusts. This trading entity must have 1 manager and at least 2 partners; there are no capital requirements and activities are not restricted. By consulting with a leading international law firm with offices in Singapore, you will receive the best advice and when you are ready to implement, they will oversee the registration, while providing a range of essential business and tax services.</li>
</ol>



<p>Regardless of which form of business you choose, compliance is paramount and the only way to ensure that is to use the services of a leading law firm with offices in Singapore.</p>



<h2 class="wp-block-heading"><strong>Bank accounts &; capital deposits</strong></h2>



<p>Where applicable, you will need to deposit capital into the Singapore bank account you created for this purpose; your lawyer will give you a list of requirements when the application is being prepared and dealing with someone who has extensive contact with government officials is comforting.</p>



<h2 class="wp-block-heading"><strong>Outsourcing essential business services</strong></h2>



<p>If you need a local bookkeeper/accountant, look no further than your law partner; they have connections with many 3<sup>rd</sup> party local providers to ensure your business runs smoothly.</p>



<p>Once you have <a href="https://www.gobusiness.gov.sg/start-a-business/register-your-business/">registered the business with the Singapore government</a>, you can go about the business of setting up your offices</p>

Setting Up a Business in Singapore – What you Need to Know
