If you want to establish a business in Singapore, you will need to register it first. The company registration process is simple, and it can be done online. However, there are a few things you should know before starting the registration process.
The most important step after registering your business is opening a corporate bank account. This will allow you to make transactions on behalf of the company. You will need to provide the bank with proof of identity, as well as a signed copy of your memorandum and articles of association. It is also a good idea to have your BizProfile and constitution ready, as these will be needed for the bank’s KYC verification.
For local shareholders, the bank will require their NRIC and a copy of their address proof. For foreign shareholders, the bank will require a copy of their passport. In addition, the company will need to have a Singapore bank account and a valid business permit. If you are a foreigner and wish to work for your Singapore company, you will need an Employment Pass. You can apply for this at the Ministry of Manpower.
A Pte Ltd is one of the easiest types of companies to register. It can have up to 50 shareholders, which can be individuals or other companies. There is no minimum share capital required, and you can have 100% foreign shareholding. However, there are some compliances you must meet, including taxation and a legal structure. company registration Singapore