Moving Your Business To Singapore: What You Should Know

how to moving your business to Singapore company relocation

Among the many Asian countries, Singapore has made a name for itself. Though it is relatively small compared to other countries in the region, the city-state is considered as an economic powerhouse by many people. Many people know the country as a favorite tourist destination and business haven to numerous foreign and local companies. Many investors consider the country as one of the best places to conduct business operations. This is mainly attributed to the business-friendly environment in Singapore. Several factors have attracted many foreign companies to the country. They include its business-friendly policies, strategic location, and highly developed infrastructure. The country has also had a long period of political and economic stability, making it easier for different businesses to grow and reach their full potential. Here are ways in which foreign businesses can set up operations in the city-state. 

Transfer Of Registration 

The transfer of registration is a process that allows companies from other countries to transfer their registrations. The given company can transfer its place of incorporation to another jurisdiction. Once the registration is successfully transferred, the business entity will cease to exist in its original place of incorporation. Through this, the given business will become a Singapore company and therefore must comply with the requirements of the Companies Act of the city-state. 

Registering A Company In Singapore 

If you are a foreign business, you are required to register your company to be allowed to conduct business operations in the Lion City. Companies from other countries register through the Accounting and Corporate Regulatory Authority of Singapore. There are various documents needed for a given company to be allowed to conduct business in the country. Once you have the required documents and meet the demands, the process of registration is quite fast, unlike many other countries, and you can find more useful info here on the required documents. Your company may be required to pay for some application and registration fees. For a company to be allowed to register in Singapore, it needs to have a registered office in the country. The company also needs to have a Singapore Citizen as an authorized representative. 

Setting Up A Representative Office 

Many businesses tend to research before moving their operations to another country. This is considered wise because you need to know what you are dealing with. One way that a given company can be allowed to research how they can conduct business in Singapore is by setting up a representative office. Through registering through a government agency known as Enterprise Singapore, a company will be allowed to have a representative office. The given business will not be allowed to do profitable activities. They are only meant to do research. 

Conclusion 

If you are considering moving or expanding your business to a new country, you should consider Singapore. The city-state has a lot to offer, and many companies have succeeded in the country. You can seek advice from a professional if you wish to successfully start a company in the state.

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