Singapore is composed of different cultures as the country is located between Indonesia and Malaysia.Because of east-meets-west state of Singapore, they are always been a target of foreign investors.Eastern culture influenced the substance of Singapore while western fashion dominates the business in Singapore.Export and manufacturing are the only assets of Singapore's economy since they have limited natural resources.By the time they have their freedom in 1965, Singapore always make it a point that their country will make a name in the financial and business world in Southeast Asia.Foreign investors consider Singapore as the perfect location for business.
Be an authorized establishment and register your company with its company name.Business incorporation and registration will always be the responsibility of Accounting and Corporate Regulatory Authority of Singapore.Bizfile is the electronic system filling of ACRA.Bizfile is an one-stop internet service which main purpose is to allow users the chance to file their incorporation forms online.
It is important to secure a business profile.You can purchase a business profile in the ACRA website by Bizfile which is done together with step 1.
Company seal is a must for a company.Only authorized suppliers will be supplying the company seals.
A business should have a work injury compensation insurance.Ask help from an insurance agent to help you buy a compensation insurance for your company. The time and fees for this particular step will vary according to the insurance provider you select.
Buy a facility.Convenient location or facility should be considered if the business is consumer good or service business.Remember how important location is when starting a business.Asset and visibility should be essential in looking for a facility.