When you open company in Singapore, it’s important to consider the type of legal entity that will be most appropriate for your business. If you are unsure, you can work with an experienced and professional corporate service provider like Piloto Asia to assist you in your decision-making. Once you have chosen the type of company, the next step is to register with ACRA via their online portal. However, if you are not a Singapore citizen or Permanent Resident, you will need to use the services of a Registered Filing Agent (RFA) such as Piloto Asia to help you with the process.
There are several key requirements to open a company in Singapore, including selecting a name and reserving it with the Commercial Registry, having the Articles of Association drafted by a notary public, and depositing a minimum share capital of 1 SGD. In addition, a private limited company must have at least one director who legally resides in the country. Piloto Asia can help you fulfil this requirement by acting as a nominee director for your firm.
It’s also a good idea to acquire a Company Business Profile from ACRA once you have successfully incorporated your company. This electronic report outlines the particulars of your business and is required to open a corporate bank account and obtain certain permits and licences. Most banks require signatories or directors of the company to be physically present in Singapore during this process, but Piloto Asia can help you find a bank that accepts foreigners or those who are unable to travel to Singapore. open company in Singapore