Singapore is one of the most popular destinations to start a new business. You can expand your business or start a new business in Singapore. The foreigners are also allowed to start register business in the country. There are lots of the business opportunity to start businesses such as restaurant, export or import business, Travel Company and much more. You can choose the right business which suits your needs.
The foreigners are carrying on the business in the foreign company name which has previously registered under the Companies Act. The candidate age should be 18 years old for company registration in Singapore. When you are registering the business you should consider important factors. Below are a few factors to consider while registering a company in Singapore.
- Structure of Business
- Business name
- Registered the address of the business
Pick the right business structure
The business structure is one of the most important factors to consider while registering the company in Singapore. You must select the business structure depends on the considerations related to the capital, risks of a business, number of owners and others. Have you decided to run a business with one person? Then you can register as the sole proprietorship. It has lower administrative needs and also required a minimum of less management.
If you intend to form a business firm with one or more other partners, you may wish to register as a partnership. A partnership does not have to file its accounts or have them audited. If anyone intends to enlarge the business for raising the capital easily in the future and wish to incorporate the company then it would be the separate legal entity that allows them to limit their liabilities. According to their choice, they can choose the business structure, click here to find out more.