Some Tips For Doing
Business in Singapore

1. Register with Authorities

Any person/ company who wants to register a branch of a foreign company is required to contact a professional, a lawyer or a Charted accountant to help him in the procedures and filings of the application for registration. The Companies Act requires a foreign company or any multi national company (MNC) to appoint two people in Singapore to carry the business on behalf of the company.

The appointed agents are required to be ordinary inhabitant of Singapore. Foreign company or an individual who wishes to run the business in Singapore may apply for an Employment Pass or Approval-In-Principle letter from the work pass division of the Ministry of Manpower.

The Act requires that a company name must be approved before the company can be registered. A proposed company name will not be approved if it is identical to the name of another local company, branch of a foreign company or business firm. Undesirable names, including offensive, religiously offensive names or vulgar names will also not be approved.


2. Branch Office or Regional Office

If you wish to carry on operations in Singapore, you should register a branch office or incorporate a company with the Accounting & Corporate Regulatory Authority (ACRA). There are some guidelines which required to be followed by foreign companies while doing business in Singapore. Regional offices can carry a feasibility study, market research and liaison work on behalf of the parent company.

There are a few things that a Regional Office is restricted to do are - trade in goods and services (including import and export), lease warehousing facilities, enter into business contracts, issue invoices/receipts and provide services for fees.

If you want to ship or store goods and materials in Singapore, the company will have to either appoint a local partner or distributor. The regional office cannot carry these operations by itself.
 

3. Application for Approval

A company can also submit an application for approval online via Bizfile through a professional firm or service bureau. The same can also be submitted by a proposed director of a new company. S$15 is payable for each approved company name. An approved name will be reserved for 60 days from the date of application. You can also register a sole-proprietor, partnership, limited liability (LLC) partnership or incorporate a company in Singapore.
 

Conclusion

Well, hopefully you now know some of the options available when it comes to doing business in Singapore. Once you have registered the name of the company and completed all legal formalities, there shall be no hiccups in doing business. Here’s wishing your business much success in Singapore!

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