4 Pointers to keep in mind before setting up a company in Singapore | Bestar

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4 Pointers to keep in mind before Setting up a
Company in Singapore
Bestar Services Pte. Ltd
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4 Pointers to keep in mind before Setting up a
Company in Singapore
Tax Planning While Being In Singapore

• It may be complicated to start a business from
  scratch in any other country. But in Singapore,
  it is as easy as a pie. However, you still need
  to have in-depth information about the same, and
  Bestar is there for you to do exactly the same.
  With our reliable services, we prepare you for
  the entire process so that you can easily sail
  through. Let us take note of some key pointers
  that one needs to keep in mind before you start
  your incorporation in Singapore-

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4 Pointers to keep in mind before Setting up a
Company in Singapore
Tax Planning While Being In Singapore
1. Determine your business needs

• Before you sow the seed of your business it is
  important to establish your business requirement
  as a part of step one. When you have a general
  idea about what your business is going to be
  like, we can build up on it to organize and set
  your business processes. In order to do that some
  important questions that need to addressed are
  listed down below-

• How much revenue is your prediction for your
  organization?
• What scalability timeline are you looking forward
  to?

• How much in-hand capital are you ready to put
  into the business?
• What will be the niche of your business?
• What will be the number of partners or
  shareholders in your business?

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4 Pointers to keep in mind before Setting up a
Company in Singapore
Tax Planning While Being In Singapore
2. Name your company

• To climb up the legal ladder, it is important to
  select a unique name for your business. In terms
  of the incorporation process, the golden rule is
  to have shortlisted at least three names for your
  upcoming company. This will help in the case due
  to any reason any name gets rejected as per the
  ACRA regulations. ACRA is the main governing body
  in Singapore responsible for giving a green
  signal and approving the name of your company.

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4 Pointers to keep in mind before Setting up a
Company in Singapore
Tax Planning While Being In Singapore

• Any name can be rejected if it contains any
  obscene words or if infringes trademark rights or
  is actually similar to any ongoing business. In
  addition to that, one can even cross-check online
  to see the availability of the website domain for
  your business. This will suit your purpose as
  soon as you decide to take your business online.

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4 Pointers to keep in mind before Setting up a
Company in Singapore
Tax Planning While Being In Singapore
3. An official address for your company

• As per ACRA, it is mandatory to submit an
  official destination for your business. This will
  further help in terms of having a registered
  address to handle all your mailing and
  communication processes without any delay. The
  place of your office should also comply with
  certain guidelines as listed down below-

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4 Pointers to keep in mind before Setting up a
Company in Singapore
Tax Planning While Being In Singapore

• The business should be working for a minimum of
  at least five business hours on every business
  day.
• This particular location in Singapore should be
  classified whether it is a commercial place,
  industrial area, or office purposes.
• Your business address should be an actual
  location and not any P.O Box

• With constantly changing times, even virtual
  office and coworking options are also accessible
  business addresses in Singapore. With Bestar, you
  are in unprecedented guidance in your journey as
  an entrepreneur.

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4 Pointers to keep in mind before Setting up a
Company in Singapore
Tax Planning While Being In Singapore
4. Have a Resident Director and Company Secretary

• A non-Singapore citizen establishing a business
  in Singapore needs to have at least a director
  for their company. This director should be a
  citizen of Singapore or have a Singapore Pass or
  Entrepreneur Pass or even Employment Pass holder.
  However, in this scenario, they would require a
  Letter of Consent (LOC) from the Ministry of
  Power. In addition to that, the director should
  not have any criminal records or history of
  bankruptcy along with being an eighteen years old
  adult.

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4 Pointers to keep in mind before Setting up a
Company in Singapore
Tax Planning While Being In Singapore

• Along with a director, your company will also
  require a secretary. Your secretary should check
  the criteria for being a Singapore citizen,
  Permanent Resident, or holding a Singapore Pass
  like Entrepreneur Pass. Along with being eighteen
  years old, your secretary should be appointed
  within a time span of six months after the
  incorporation company in Singapore.

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4 Pointers to keep in mind before Setting up a
Company in Singapore
Tax Planning While Being In Singapore

• Bestar is there to empower your business setup
  process. At Bestar we care for our valued
  customers which is why we have customized Company
  Incorporation Packages for you. These packages
  will take care of right from the foundation of
  your business. Give us a chance to set up your
  process and feel the difference. Contact us now.
  We await your presence!

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