subject: Why Hire a Singapore Company Incorporation Specialist? [print this page] Why Hire a Singapore Company Incorporation Specialist?
With Singapore's growing economy and strategic location, foreign companies have always considered this country as one of the most suitable business centers in the Asia Pacific region.
Fortunately, forming a Singapore company is relatively easy for most foreign businessmen and companies due to its efficient corporate laws and straightforward immigration policies.
However, it is important to note that under the country's corporate law, foreign businessmen, companies, and investors are prohibited to self-register their own business which means that they are required to hire a professional firm (which must be accredited by the Accounting and Corporate Regulatory Authority) that will facilitate the process involved in Singapore company registration.
This policy makes the process relatively smooth and streamlined since professional firms know the best business arrangement and can help their clients to meet all the basic requirements.
Foreign businessmen who are planning to relocate and setup a Singapore company are required to apply for Employment Pass, which is for foreigners with college diploma, or EntrePass, which is for people who lack a college degree but has strong entrepreneurial skills and background.
The employment pass is generally the most preferred visa for foreign businessmen as it has a less stringent requirement. For example, this pass only requires a minimum paid-up capital of S$1 while the EntrePass requires at least S$50,000.
In addition, EntrePass applicants are required to submit a 10-page business plan that must include the goals, operation, nature of business, and other related information which can determine the profitability of a certain business.
The business plan is one of the most important requirements for foreign businessmen applying for EntrePass since it allows the authorities to know if the business is entrepreneurial in nature.
While incorporating a Singapore company is a relatively straightforward process, for people who wish to make the process as efficient and smooth as possible, it is advised that they hire a Singapore registration firm that is highly reputable and reliable.
