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Singapore is a beautiful island country that is also a city-state located in Southeast Asia. The country has a competitive tax rate and business-friendly policies that offer easy access to other fast-growing markets, such as India, China, and other ASEAN countries. Singapore is also an excellent destination for foreign entrepreneurs who are looking to establish their company in the thriving country. As an Indian, you can register a company in Singapore online without having to travel to the country. Through the country’s official online platform Bizfile+, your selected registered CSP can complete the entire registration process for you.
This blog will help you navigate the process involved in registering your company in Singapore from India remotely and help you understand the key requirements.
Singapore is an excellent country to do business as it has a high-income economy that is built with strong global trade networks, a business-friendly regulatory environment, advanced infrastructure and strong investments in education, infrastructure, public services and healthcare. It is a beautiful city-state and independent island country located in Southeast Asia.
The strategic position of Singapore makes it one of the busiest ports in the world and a global hub for trade, commerce and finance. Singapore ranks well on the United Nations Human Development Index (HDI) and is placed in the very high human development category. It reflects the country’s development in income, health and education.
The country also offers business-friendly policies, economic stability, innovation and a favourable tax system compared to other Asian countries. As an entrepreneur seeking to do business in Singapore, you will enjoy a stable and growing economy.
Yes, as an Indian entrepreneur, you can register a company in Singapore from India. To legally operate in the country, you will need to register with the ACRA (the Accounting and Corporate Regulatory Authority) and apply for the right work visa if required.
You can also register your Singapore company from India online, without having to travel to the country. There are two ways through which you can set up a company in Singapore:
The Accounting and Corporate Regulatory Authority (ACRA) is the government agency that is responsible for company registration in Singapore.
ACRA oversees the entire registration process and company incorporation to ensure that businesses comply with Singapore’s Companies Act. As an Indian entrepreneur in Singapore, you will need to appoint a registered local agent who can register the company on your behalf, as you cannot file directly with the ACRA without a Singpass account, which is only for permanent residents and citizens of Singapore.
The six significant types of structures for company registration in Singapore are mentioned below-
To legally operate in a country, every country has its own rules and regulations to function smoothly. As an Indian seeking to establish a company in Singapore, you will need to fulfil the requirements set by the Singaporean authorities. The key requirements to register a company in Singapore from India are mentioned below:
To legally register a company in Singapore from India, you will need to follow the following steps:
The first step to register a company in Singapore is to choose the right business structure, the country has various structures available that is tailored to different business needs. You will have to choose the right business structure to take advantage of the tax and other legal obligations. The Private Limited Company is the most preferred business structure in Singapore for company incorporation.
You will need to select and submit a minimum of three company names and verify it with the Accounting and Corporate Regulatory Authority (ACRA) to check if the selected names are available. If your selected company name is available, it will be reserved for the next 60 days from the date of your application. Enterslice can also help you select a company name that is in compliance with the country’s regulations and handle the reservation for you.
The company constitution will need to have detailed rules and regulations for the company operations and activity of the shareholders and directors. This document will also have the company goals and structure. It will also help to understand the rights, obligations, authority and the roles of the shareholders within the company. The company constitution will also include the ACRA-approved business name, clause for liability, capital and registered office.
Once your company name is approved, you can start preparing the other necessary documents to register a company in Singapore such as Memorandum and Articles of Association, identity proof and proof of registered office address etc. If you are seeking to register a company from India remotely, you will need to prepare additional documents for identity verification such as completed KYC form, passport and address proof and proof of locally registered physical office address.
You will also need the identity proof of a local director, local filing agent and resident company secretary appointed for your company. Additionally, if you decide to travel to Singapore and register the company, you will need a valid work visa to enter the country.
As an Indian, you will need to appoint a registered local filing agent for company registration such as a Corporate Service Provider (CSP). The CSP will file the company registration on your behalf through Bizfile+ which is Singapore’s official online platform operated by the Accounting and Corporate Regulatory Authority (ACRA).
To register a company in Singapore from India, you will need to appoint a resident director, local company secretary and locally registered physical office address. If you do not have, the CSP will appoint them for you. The Corporate Service Provider (CSP) will prepare all the documents and send them to you for the e-signatures wherever required and then apply for company registration through ACRA’s Bizfile+ online platform for you. You will also need to pay the fees for company registration and pay annual fees post registration.
After submission in the Bizfile+ online platform the Accounting and Corporate Regulatory Authority (ACRA) authority will carefully verify your application and once approved, will issue the company profile and Certificate of Incorporation. The CSP will then deliver the documents to you.
The Singapore Certificate of Incorporation will include the name of your company, date of establishment and the Unique Identification Number (UEN). While the company profile will include details about the company, registration number, company name, date of company formation and information on business activities.
After you have legally registered your company with ACRA, you will receive the Tax Identification Number which is locally known as Unique Identification Number (UEN). It will be automatically issued by the Accounting and Corporate Regulatory Authority (ACRA) after your company registration. The Unique Identification Number (UEN) will help you for all the official communications with the government and filing of tax with the Inland Revenue Authority of Singapore (IRAS).
When all the process of company registration in Singapore is completed, you will need to open a corporate bank account locally in Singapore using the incorporation certificate for smooth financial transactions. Most of the preferred banks in the country are HSBC, DBS Bank, Standard Chartered, OCBC Bank and UOB.
Your Corporate Service Provider (CSP) will help open the bank account in Singapore remotely as some of the banks in Singapore allow foreign companies to open remote accounts. Enterslice can also help you select the right bank and efficiently open a corporate bank account on your behalf.
Given below are the benefits of starting a company in Singapore-
Singapore is known to have a favourable tax structure for both residents and non-residents. The key features for taxation in the country are:
Given below are the documents needed to register a company in Singapore from India-
As an Indian, choosing Singapore for company incorporation is the smartest decision as the country offers stability, tax efficiency and easy global access. The biggest advantage is that Singapore allows Indians to register a company online through their official platform Bizfile+. This makes it easier for Indian entrepreneurs to establish a presence in Southeast Asia. With the right preparation, you can leverage the attractive benefits the country offers and launch a successful business in Singapore from India.
The best way to register a company in Singapore from India is through Enterslice. We can navigate the regulations and standards for you. Enterslice offers remote services that cover everything from company registration to compliance, expert guidance, extensive support and assistance, making company registration in Singapore from India a smooth and straightforward process without potential delays.
Why Choose Enterslice to Register your Company in Singapore from India?
At Enterslice, we have a team of expert professionals both in India and Singapore who are committed to helping you. Enterslice will help you register a company in Singapore from India remotely, without requiring you to travel to the country. Our team of expert business consultants, financial advisors and tax experts will offer continuous support to ensure your company is in compliance with the country’s regulations.
Contact us today to speak with our experts or visit our website to learn more: visit https://enterslice.com
Yes, an Indian can start a business in Singapore by registering the company with the Accounting and Corporate Regulatory Authority (ACRA). You will also have to comply with the same rules and regulations as a local business owner. Additionally, you may need a minimum of one director who is a permanent resident of Singapore. You will also need a registered physical address to start a business in Singapore.
To register a company in Singapore, it will cost 300 Singapore dollars, and you will have to pay the fee after the registration process is completed. You will have to pay the Accounting and Corporate Regulatory Authority (ACRA), which is the government authority responsible for company registration in Singapore.
The benefits of company registration in Singapore for Indian entrepreneurs are 100% foreign ownership, low tax rates, a stable and growing economy, a highly supportive local government, a business-friendly environment and ease of doing business. The biggest advantage for Indian entrepreneurs is the ability to register the company online, remotely, without being physically present.
To register your company in Singapore, you will need to provide supporting documents, obtain consent from the company secretary and the directors, and determine who will manage the company.You will also need to reserve a company name that aligns with the standards and regulations of Singapore, provide detailed business plans, information on shareholders and directors, registered business address and the minimum share capital. Additionally, you will also need to open a corporate bank account for smooth financial transactions. When all these documents are ready for submission, you can submit your application to the Accounting and Corporate Regulatory Authority (ACRA) and wait for the approval.
Yes, you can register a company in Singapore from India. It is not mandatory for you to travel to the country for company registration; the process is online, and you can own 100% of your company without any restrictions or a local partner.However, you will need to appoint a minimum of one permanent Singaporean director who can be of any nationality and have a local registered address. You will also need to appoint a local agent, such as a CSP in Singapore, to register the company for you.
Yes, as a foreigner in Singapore, you can enjoy 100% company ownership. However, you will need a permanent resident of Singapore appointed as a director for your company.
Yes, it is mandatory to have a local registered address in Singapore for company incorporation. The company address must be a physical address and cannot be a post office box number.
It approximate time required for company registration in Singapore is 5 to 7 working days. The exact time will depend on your business type and, provided your documents are correct and in order.
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