New business setup in Singapore
Located in a strategic position in Asia, Singapore is becoming more popular among entrepreneurs looking for stability and opportunities for growth. Learn about the necessary steps, advantages, obstacles, and legal pathways for establishing a business in Singapore. Additionally, we offer efficient solutions for easy online and remote business setup.
Formalities and procedures
We offer a range of services to assist you throughout and ensure you meet all the necessary criteria.
Business planning
Before starting the process of forming a new business, it is important to conduct extensive market research and corporate planning. We can assist you in developing a comprehensive business plan, analyzing market trends, identifying your target market, and evaluating the competitive landscape.
Choose your legal structure
Singapore provides a range of legal structures that are appropriate for new businesses, such as Private Limited Company (Pte. Ltd.), Public Company Limited by Shares (Ltd.), Branch Office, Holding Company, and more. The decision on which structure to choose will be based on considerations like the size of the business operations, ownership arrangement, and liability preferences.
Reserve a company name
Choose a one-of-a-kind and easily recognizable name for your business and verify its availability in the Commercial Register.
Set up legal address
Having a valid address is essential when starting a new business, as it acts as the main contact point for government agencies, legal authorities, and important business communication. It is vital to choose an address that meets local regulations and fits the requirements of your business.
Draft articles of association
Our team of experts helps you create precise and detailed articles of incorporation specifically designed for your preferred legal structure. We guarantee compliance with all legal obligations and take care of submitting the documents on your behalf, allowing you to save time and energy.
Registration
We handle the registration process with authorities like the Singapore Trade and Companies Register and tax authorities to ease the administrative burden for you. This ensures that your new business is legally recognized and compliant right from the beginning.
Open a bank account
Make financial transactions easier by setting up a business bank account in Singapore. Our experts will help with this process.
Setup accounting
It is essential to maintain accurate financial records when launching a new business. Our team of accounting experts can help you establish robust accounting and bookkeeping processes that align with Bosnia’s standards.
New business examples
Businesses come in various sizes and have different impacts on the economy. It is important for prospective entrepreneurs to understand the market in order to recognize potential opportunities. Let’s explore possible new businesses in various size categories:
Small businesses
Embarking on a small business venture can be an exhilarating yet daunting experience, with a significant impact on the local economy. Types of small businesses could include neighborhood coffee shops, online shops selling handmade crafts, pet grooming parlors, and independent web design services.
Medium businesses
Medium-sized businesses such as regional stores, software companies, event planners, and fitness studios have a larger number of customers and employees compared to small businesses, although they have not yet reached the scale of big corporations.
Large businesses
Big companies such as multinational corporations, airlines, car manufacturers, and retail giants have a strong presence in their respective industries. They possess extensive resources, large workforces, and significant market power. Oftentimes, these large businesses conduct operations globally.
Common mistakes when setting up a new business
New businesses frequently face typical challenges that can be lessened with anticipation and careful planning.
Inaccurate documentation
We make sure that all your paperwork is thorough, precise, and meets legal standards, minimizing the chances of any bureaucratic problems.
Lack of understanding of local regulations
We offer thorough advice on “local regulations, taxation, employment laws, and other legal obligations,” to make sure you are in compliance with the law.
Inadequate financial planning
Our team helps you create practical financial predictions, manage budgets, and obtain financial resources to achieve your company’s objectives.
Insufficient market research
Failure to fully comprehend the local market can impede success. Engage in comprehensive market research to recognize both the potential advantages and obstacles.
Inadequate marketing
Numerous companies face challenges because of a lack of effective marketing. Enhance your online visibility and consider different digital marketing techniques.
Our solutions: Business formation made easy
The team offers solutions that are both practical and effective, tailored to your specific requirements.
Business formation online
With the online platform in Singapore, you have the convenience of initiating and completing business formation procedures from anywhere in the world. You can monitor the progress, submit necessary documents, and utilize our services through secure digital channels, ensuring a smooth and hassle-free experience.
Business formation remotely
In Singapore, we handle all the paperwork for you if you prefer a more hands-off approach. Our team of professionals takes care of all the necessary formalities, completes the required paperwork, and communicates with the appropriate authorities on your behalf to ensure your peace of mind.
Contact us
Don’t pass up the chance to start your business in Singapore. Reach out to us now for individualized support, whether you opt for online registration or remote business formation. Our experienced team will assist you at each stage, guaranteeing a smooth and prosperous business opening in Singapore. Take advantage of the opportunities available for your entrepreneurial pursuits in Singapore!