Start a Singapore Company Business
It should not be too hard. Starting a business in Singapore will be the best decision that you have ever made. This is the most prolific, ideal business hub in the south east of Asia. Most of the country is urbanized and just so you know, it is also one of the leading commercial hubs in the entire world. So many things make it ideal for business but mostly, it has to do with the well-established business environment, the friendly business regulations and policies from the government and other factors.
The economy of Singapore depends chiefly on trade. Businesses in this country thrive well, owing to the favorable economic environment. If you want to start a particular business venture in the country there are certain requirements you must meet regardless of whether you are a foreigner or a citizen of this island.
You can operate a number of enterprises in this land like Pte (private) limited company, partnerships and sole proprietorship. Each of these businesses has its benefits in relation to Singapore. Before you even invest in any business in this country, it is important to enlighten yourself to make an informed decision. The country does not have restrictions on non-citizens who might wish to invest here. Nevertheless, as a foreigner, you will be required to fulfill certain guidelines before you are allowed to launch your enterprise.
How to start a Pte Ltd Company – Benefits and Requirements
The best business to start in Singapore is a limited liability company. A firm is regarded as a separate legal entity from you as the owner. The liabilities of the shareholders are restrained to the company but never on their personal assets. It has a couple of benefits compared to other business structures, which include:
- Limited liability – Even if the business crashes, your personal belongings are not confiscated to cover the debts
- It is regarded as separate legal entity
- You can raise the capital easily – Most creditors prefer giving to loans to companies as opposed to individuals
- Perpetual succession – If a member dies or leaves abruptly, the company continues as usual
- You will be able to accrue incentives and tax benefits from the government.
You can establish a public limited firm, which comprise of more than 50 shareholders and the private limited companies that are made of less than 50 people. Due to the many advantages of a private limited company, most entrepreneurs prefer starting private limited companies as compared to say, even sole proprietorship or partnership companies.
Get Help with Starting a Business in Singapore
If you are looking for a professional firm to help you incorporate a Singapore private limited company, then J Accounting Services is at your service. Aside from helping you start your business in Singapore, we also offer you support for your firm in the area of bookkeeping or accounting, taxation, advisory and secretarial company services. Let us handle all these administrative matters for you, and you can have a peace of mind when you start Singapore businesses.
