Name of the Organisation : SPRING Singapore, EnterpriseOne (enterpriseone.gov.sg)
Type of Announcement : Registering Your Business Local, Foreigner
Country : Singapore
http://www.enterpriseone.gov.sg/en/B…oreigners.aspx
Related :
Immigration And Checkpoints Authority APEC Business Travel Card System ABTC Singapore :
www.statusin.org/350.html
1. Registering Your Business (Local/Foreigners) :
Registering your business with the Government is one of the first steps you need to take once you have decided to start your business.
Registration fee for foreigner : S$300 – S$1,200
Agency In Charge : Accounting and Corporate Regulatory Authority (ACRA)
How Long It Takes : 15 minutes. If your business needs approval from other Government agencies, it will take at least 14 days.
How Much It Costs :
Registration fee (local): S$50 – S$600
Approval of business name: S$15 per name
2. Before You Register :
1) New Business (Local – Singapore Citizen/ Permanent Resident) :
i) Apply for a SingPass, which you will need for all Government transactions
ii) Prepare the items in Checklist (Before Registering)
2) New Business (Foreigner) :
i) Apply for an EntrePass from the Ministry of Manpower
ii) Apply for a SingPass
iii) Prepare the items in Checklist (Before Registering)
How To Register : New Business (Local/Foreigner)
Apply online at ACRA’s BizFile website : https://www.bizfile.gov.sg/ngbbizfileinternet/faces/oracle/webcenter/portalapp/pages/BizfileHomepage.jspx or
Apply online on the Online Business Licensing Service (OBLS) website : https://licences.business.gov.sg/
Branch Of A Foreign Company :
Hire a professional firm to register on your behalf
Must I Register My Business?
There are some types of businesses that do not need to register with ACRA, including certain individuals, professionals and organisations. If you belong to any of these, you will be exempted from having to register your business.
What Do I Need To Prepare Before Registering?
Before you begin the registration process, there are a number of things you will need to check or prepare first in Checklist (Before Registering).
What Visas Or Passes Do Foreigners Need to Work Or Set Up A Business In Singapore?
Foreigners who wish to start a new business in Singapore must apply for an EntrePass which allows registered entrepreneurs and their families to live in Singapore.
Business executives who travel in and out of Singapore frequently either to attend to business matters/investments or look for business opportunities can apply for a 1, 2 or 5 year Multiple Journey Visa.
If you wish to hire employees from your home country to work in your new business, branch office or representative officer, you will need to apply for Employment Passes and Work Permits.
What Happens After I Register My Business?
Once you have successfully registered your business, there are some important rules and regulations that you will have to observe in the course of running your business.
Do I Need To Register A Singapore Branch/Office Of A Foreign Company?
Yes, you must hire a professional firm to register your Singapore branch on your behalf with ACRA.
If you are setting up a Representative Office (RO) to explore business opportunities in Singapore or the region, you must register with the Monetary Authority of Singapore if the RO is in banking and insurance, or with International Enterprise Singapore for all other industries.