Singapore is one of the world’s leading economy. No wonder it attracts foreigner from small entrepreneurs to billionaire investors. They offer businesses the right “ambiance” for the businesses to thrive and grow. Opening a business here is relatively easy in comparison to other first-world countries like US or UK. But that is not to say that the whole process can go without a hitch.
In order for you to prevent any unwanted delays in your business venture opening, these are the most important things to know. Each of these points can be a whole topic in itself, I’m giving you pointers so you can be better prepared.
Know the Right Visa for Your Business.
There are many working permits offered by the government but the one that you should be keen on acquiring should be the Entrepass. This permit can be obtained at Ministry of Manpower or MOM. Initially, you will be given an EntrePass with 2-year validity. This period serves as a validation period for those who can successfully acquire them. After that, if you fulfill the next set of requirements, you will be given a new permit with a 3-year validity.
Prepare the Proper Documents for Business Registration.
Registration of new business for foreigners is pretty straight forward. The proper details can be found at Accounting and Corporate Regulatory Authority (ACRA) website.
Know How to Properly Register a Business.
Disclaimer: I did my best to give out proper information but I am not a professional to give legal business advice. I may not be held responsible for any problems that may arise in case anyone tries and use the information contained within this blog.