Global Entrepreneurs: Quick Pointers to Starting Out In Singapore

Singapore is perhaps one of the best places to startup a business. Things that you do want to note as an entrepreneur. For local Singaporeans, you may proceed to register with ACRA – Accounting and Corporate Regulatory Authority (www.acra.gov.sg) as a business.

Expatriate entrepreneurs will have to make an application for an EntrePass (Entrepreneur Pass) through the Ministry of Manpower (www.mom.gov.sg). An in-principle approval letter will be given to successful applicants in between a fortnight to 1.5 months. Do prepare a $3,000 security deposit. Registration with ACRA thereafter will require a minimum of $50,000 as start-up capital. Following that, you can go ahead to register your company’s name for $15 and another $300 to incorporate the company. This approval occur within the application.

The other steps of opening a bank account will typically be subjected to individual bank processes,but they are all fairly quick if you have the ready statements and necessary paperwork.

Follow the Magazine:
https://businessleadershipmanagement.wordpress.com/subscribe-follow-the-magazine/
(After you have filled in your email address, a confirmation email will sent to your email address. You will have to confirm it before subscription begins)

Follow us on Twitter:
https://twitter.com/BusinessLeaders

Like us on Facebook:
https://www.facebook.com/BusinessLeadershipManagement

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s