A Singapore Business Registration is a legal process of opening a new business in Singapore. This is a highly important and crucial step for all businesses as it provides them with a wide range of benefits including tax exemptions, robust economic growth and an established financial system. It also acts as a gateway to an emerging Asian market of more than 600 million people.
One of the main reasons why it is so important for foreign companies to register their business in Singapore is that it makes them more credible. A registered company can be searched and verified on the ACRA website, making it easier for potential customers to trust a legitimate company. Another benefit of business registration is protection from liability. This means that if the company goes bankrupt or is sued, you as a director are not personally responsible for the debts.
While it is possible to register a foreign company in Singapore, you will need to have at least one resident director who is either a citizen or permanent resident of Singapore or a person holding an Employment Pass. You will also need to submit a Memorandum and Articles of Association (MAA) to ACRA, which are standard formats for registering companies in Singapore.
If you’re looking for a service provider that will help you with the entire process of business registration in Singapore, then you should consider hiring Osome. This service provider specializes in helping firms in a purely virtual manner and it offers a variety of services such as corporate secretary assistance, accounting, and more. They’ve been providing their services to clients for over 22 years and they pride themselves on their ability to keep up with technological innovations. business registration Singapore