If you want to open company in Singapore, there are some things you need to consider. The first is the structure of your business. There are several different options, but the most popular is a private limited company (Pte Ltd). This is because it offers protection from personal liability and is highly scalable and flexible. However, it’s also important to understand how the other structures work so that you can make an informed decision.
Another thing to consider is whether you need to obtain a license or permit. Some types of business activities require approval or a permit from the government, including private schools, video companies, travel agencies, money lenders and liquor distributors. You can find more information about these requirements on the Singapore Business Portal. Additionally, you’ll need to have a corporate bank account to process and exchange funds as part of your daily operations. Piloto Asia can help you set up a business bank account in Singapore, even if you are not a resident of the country.
Finally, you’ll need to register your company with ACRA (Accounting and Corporate Regulatory Authority). This can be done through the Singapore Business Portal. To access the site, you’ll need to have a SingPass. If you don’t have one, you can use a registered filing agent to handle the process for you. Piloto Asia can assist with this, as well as with opening a corporate bank account in Singapore. Then, you’ll be ready to start your business in Singapore!