Rikvin, a topnotch ACRA registered service bureau provides immediate assistance to foreigners who wish to register a Singapore company. This firm also helps provide awareness on foreigners regarding additional regulations and permits that apply to non-Singapore citizens. Rikvin noted that most foreigners find it easy to start a business in Singapore as we have a very business friendly environment.
The Republic of Singapore has made almost all things favorable to foreigners. It has an open and efficient immigration policy that makes it easy for foreigners to visit Singapore and look for business opportunities. However, before enjoying these opportunities, you have to follow specific preparations for business registration in Singapore, depending on the business structure you planned to setup.
Rikvin enumerated the different business structures of Singapore and provided a separate comprehensive description. Rikvin said, "For Singapore branch office, all branches must be registered with the Accounting and Corporate Regulatory Authority (ACRA) and foreigners should hire a professional firm to register on their behalf. Next, If you want to explore on business opportunities in Singapore then you should proceed by setting up a representative office. Registration for ROs in banking and insurance is processed in the Monetary Authority of Singapore (MAS) while registration for ROs in all other industries is processed in International Enterprise Singapore."
However, it should be noted that RO can only employ activities such as market research, feasibility studies and liaison work on behalf of the parent company. They should not deal in trade in goods and services, lease warehousing facilities, lease office(s) for a fee, enter into business contracts, issue receipts and provide any service for fees.
For foreigners who wish to register a Singapore company, work visas are also one of your main considerations. Work visa includes EntrePass which is required for foreigners who wish to start a new private limited company, Multiple Journey Visa for business executives who travel in and out of the country for business concerns and an Employment Pass if your company needs to hire employees from your home country.
Rikvin also introduces the taxation in Singapore. Rikvin emphasized that Singapore has excellent tax benefits for small-to-midsize companies. These apply if you set up a new company. One of the most interesting point is the minimal tax rates like for profits around S$300,000, the overall tax rate is still a low 17% (Year of Assessment 2010 onwards).
Rikvin is an ACRA registered service bureau. We provide a complete corporate solution under one roof for Singapore company registration of private limited companies, formation of offshore companies with opening of corporate accounts, business registration including accounting, tax, immigration related to work passes visa and compliance services in Singapore.