A company is a legal entity endowed with the “corporate personhood,” which means it exists as an independent entity distinct from its shareholders. It has the same rights and responsibilities as a natural or legal person, including the ability to enter into contracts, sue (or be sued), pay taxes, own assets, hire employees, and engage in commercial activities.
Opening a new company in Singapore is a big adventure, but it’s actually much easier than you might think. The Lion City is famous for its robust yet business-friendly regulations, and according to the 2020 Ease of Doing Business rankings by The World Bank, Singapore is one of the top countries in the world to start a business.
Whether you’re looking to register your startup in the vibrant business hub of Marina Bay or in the heart of the shopping district of Orchard Road, Singapore has plenty of options for you. The most important thing to consider before you begin assembling your team and sourcing for premises is the structure of your company.
There are five different types of companies that you can register in Singapore: Sole Proprietorship, Private Limited, Exempt Private Limited, Public Limited, and Foreign Direct Investment Companies. Once you’ve established the company type that suits your needs, you can then work out who will be your directors and shareholders. Then, you’ll need to prepare a company constitution that lays out the in-house administrative and financial regulations as well as the relationship between the shareholders.how to start a company in Singapore
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