Markets for expansion
all about investing in
Singapore
why SINGAPORE should be your targeted expansion Market
Singapore stands as an appealing investment destination for Vietnamese and overseas businesses for multiple reasons. Situated strategically in Asia, it serves as a pivotal gateway to extensive markets. The city-state boasts a strong financial infrastructure and upholds the rule of law, creating a conducive environment for businesses. Additionally, Singapore’s multicultural setting encourages innovation and embraces diversity. Delve into the potential that Singapore holds for expanding your business horizons.
Frequently Asked Questions & Answers
See our brief explanations to some of the mostly asked questions from our clients, details can be provided by our experts
Incorporation Topic
To start a business in Singapore, you need to submit the following documents to the Accounting and Corporate Regulatory Authority (ACRA):
- A unique company name that is not similar to any existing company or trademark.
- A brief description of the company’s intended business activities.
- The amount of share capital that the company intends to issue.
The minimum capital requirement for setting up a private limited company in Singapore is S$1.00. However, some businesses in regulated industries, such as public accounting firms and insurance intermediary firms, are required to have higher minimum paid-up capital requirements.
At least one director of a Singaporean company must be a resident of Singapore, which means they must be a Singapore citizen, permanent resident, or an Employment Pass/EntrePass holder. Shareholders can be of any nationality and residency.
It can take as little as two days to incorporate a business in Singapore. This is because the Singapore government has streamlined the process.
The best type of business entity for starting an offshore business in Singapore is a Private Limited Company. It offers limited liability protection, separate legal entity status, and is the most common and widely recognized business structure in Singapore. Additionally, it allows for foreign ownership and provides tax incentives and benefits for businesses operating internationally.
Operation Topic
Yes, some banks in Singapore offer multi-currency bank accounts. However, the specific requirements may vary depending on the bank. For example, some banks may require a minimum deposit for each currency, while others may allow you to open a multi-currency account with no minimum deposit.
A virtual office address in Singapore is a real business address that can be used for receiving mail and other business purposes, without having to rent a physical office. Virtual office addresses are a popular choice for small businesses and startups, as they are a cost-effective way to give your business a professional image.
Once your company is registered, we can help you open a corporate account at one of the following banks in Singapore:
- OCBC Bank
- DBS
- MayBank
- UOB
The Inland Revenue Authority of Singapore (IRAS) oversees tax incentives and obligations for offshore firms in Singapore. Here are some key points:
- Offshore income that is not received in Singapore is exempt from taxes.
- Some qualifying offshore business activities can benefit from lower taxes.
- Foreign-sourced income received in Singapore may be eligible for tax exemption under certain circumstances.
Yes, you can open a multi-currency bank account in Singapore at some banks. However, some banks may require you to deposit a minimum amount for each currency that you want to hold in your account. The specific requirements will vary depending on the bank and the type of account you choose.
Standard Business Incorporation Process in Singapore
An overseas company in Singapore will go through the following steps to be fully incorporated in Singapore.
Step 1 - Gather essential information
Finalize the type of your overseas company structure you wish to establish.
Step 2 - Check required conditions
Having secured a company name and appointing directors and shareholders.
Step 3 - Enroll Certificates with ACRA
ACRA will furnish you with a Certificate of Incorporation and a Business Profile.
Step 4 - Register for GST, CPF, and SDL
Post-incorporation, register for GST, licenses, bank account, CPF, SDL, and other documents.
Featured posts
Unlock Successful: All The Things You Need To Know About Diverse Company Types In Singapore
Choosing the right business structure in Singapore is crucial for international companies. Contact Iris International for strategic advice.
Singapore Hiring Insights: All The Thing for Successful Recruitment
Understanding Singapore’s Employment Act is crucial for non-domestic businesses. This guide highlights recruitment, employment contracts and benefits.
All You Need To Know About Work Culture In Singapore To Unlock Successful
When establishing an overseas company in Singapore, understanding the diverse work culture is crucial.
All You Need To Know About The Capital When Open Successful A Business In Singapore
In Singapore’s thriving business landscape, the amount of startup capital required can vary greatly, with factors like industry, business model, and location playing crucial roles.
more readings
Why Singapore Is The Best Place To Start Your Business
Singapore’s strategic location, business-friendly policies, robust infrastructure, and talented workforce make it the ultimate destination for entrepreneurs. Discover why Singapore is your gateway to success.
Everything You Need To Know About Setting Up Successful An Overseas Company In Singapore
Setting up an overseas company in Singapore offers tax benefits, political stability, and a strategic location for international business. Discover the key steps and advantages in our comprehensive guide.
All The Things You Need To Know To Open Successful A Corporate Bank Account In Singapore
Opening a corporate bank account in Singapore is a crucial step for businesses looking to establish a strong financial foothold in the region. Follow our step-by-step guide for a smooth process.
Business operations in singapore
A Quick Insight That You Need To Know About Goods And Services Tax (GST) In Singapore
In Singapore, the Goods and Services Tax (GST) plays a crucial role in the nation’s revenue system. This consumption-based tax is levied at 7%, contributing significantly to the country’s economic stability.
How To Rent An Office Space In Singapore: Everything You Need To Know
Establish an company in Singapore involves choosing suitable office space strategically. Understanding lease terms, costs, and customization options.
Accounting for Your Companies in Singapore: Everything You Need To Know
Establishing an overseas company in Singapore necessitates adherence to Singapore Financial Reporting Standards (SFRS) and tips for effective financial management.
Get In Touch With Us!
Phone/Whatsapp/Zalo
Hotline 1:+ 84 916 442 025
Hotline 2:+ 84 989 256 440
info@iris-international.co
Offices
Vietnam | HCMC & Hanoi
Hong Kong
Contact us
Other markets...
What We Offer
Our business consulting service offers unparalleled strategic insights for Vietnam and international markets. Our experienced consultants analyze market trends, competition, and opportunities to develop tailored strategies that drive growth.
Tailored Solutions
We take the time to understand your unique challenges and craft customized solutions for setting overseas company in Vietnam and other countries. Our recommendations directly address specific pain points showing a commitment to client success.
Measurable Results
Tangible results matter. Our consulting service concentrates on generating quantifiable improvements in key performance indicators, thereby making the company formation process in Vietnam and Asia so simple that can amaze you.
Responsive Support
Prompt and responsive support is our outstanding character. We are always here for you to address questions, concerns, and unexpected challenges you may face along the way of company incorporation in Vietnam or in other countries.
We Provide the Best Service in Industry
Connecting Worlds – Nurturing Companies – Fostering Success
EN 
VI