Setting Up An Offshore Company In Singapore

An Expert's View about Business Administration in Singapore

Posted on: 2 Sep 2010

Setting up an offshore company in Singapore is a smart decision. In this tenuous global economy, where market gains are made and lost every day, and investors worry about the stability of their banking accounts, it is wise to look for an alternative. The future strengths of the global economy are likely to be China and India, or at least somewhere in the East. While economies around the world stumble and falter, China and other Asian countries such as Singapore continue to perform exceptionally well, with record growth during 2010 quarters.

 

The first steps in the process of Singapore offshore company set up are really preparation on the part of the entrepreneur endeavouring to set up the company and are not unique to setting up a Singapore offshore company. Any company start up should have a stable business plan with solid objectives and a thorough financial analysis. In order to complete the paperwork, the process of starting a Singapore offshore company includes:

  • Confirmation of the company name availability,
  • Acquiring the business registration number, and
  • Confirming the address of the new company.

All of these pieces of information should be printed on your company letterhead to help legitimize your business and for professional communication with future clients, investors, banks etc.

 

While you are in the process of starting a Singapore offshore company, you will also need to consider what the employee requirements will be so that the correct work visas can be obtained. If planning to send current workers abroad to work in the new Singapore offshore company, they will need to acquire work visas. Hiring an experienced corporate services firm can assist in this process, as they will have knowledge of the options available based on the structure of the company and employee objectives. It is recommended that when undertaking offshore company setup you secure the services of a corporate services firm who is experienced with the laws in the countries involved.  This can help to avoid unwanted problems and to help ensure the company structure is suitable for business objectives.

 

There will be other tasks required after completion of setting up the Singapore offshore company. Your corporate advisor will have knowledge what kinds of permits and licenses needed to run your business. Custom registrations sometimes need to be issued in certain circumstances. It is a great time now to get in on the ground level on an international business expansion, and setting up a Singapore company is a good start. Comprehensive infrastructure and beneficial government incentives are just two reasons that are attracting more and more entrepreneurs to Singapore.


Useful links:

  • Singapore Company Formation : Healy Consultants is a leading corporate services firm that assists entrepreneurs and investors with Singapore company formation. The firm provides a range of corporate services to assist entrepreneurs including setting up a Singapore offshore company, corporate bank account opening and international tax planning. More information on company registration can be found by visiting http://www.healyconsultants.com.
Posted: 02 September 2010

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