Setting up shop in Singapore – Here is what you need to know first

Singapore is a place that encourages business and hence, you may plan to set up shop in the country. But you should remember a few points before you start the process so you can complete the task of setting shop in the country without any hassles.

Business Incorporation

Once you choose the industry or field in which you want to do your business and choose a name for your entity also, you should register the name of your company with the Registrar of Singapore Companies. Though it is true that Singapore is one of the best places for doing business in the whole world, you can not do away with such procedures. You need not fear if the process of registering your company with the Registrar of Singapore Companies will be a complicated process. In fact, it is an easy, simple and quick process that involves only two steps. You can complete them within a day. For relocating to Singapore, you must apply and get what is known as EntrePass that is nothing but the Singapore Entrepreneur Visa.

Getting approval for your premises

You may need a premises for running your business. Once you identify the premises, you must get approval from URA or the Urban Redevelopment Authority of Singapore because you may be making additions and alterations so you can convert the premises suitably for carrying out your business activities without any issues. You must also obtain a Fire Safety Certificate from the Singapore Civil Defence Force because the premises should adhere to the safety requirements as laid down by them.

Licenses

Depending upon the products or services you intend to deal with, you should apply and get the appropriate licenses.

Hiring Staff

You may intend to hire staff for carrying out the functions of your business. This is a very important step because unless you have competent people, you can not run your business efficiently.

The above steps are only basic ones but they are very important when it comes to company formation Singapore . If you think that you can not handle them, you can seek the services of providers. There are companies that offer professional services and you can do a good research for finding a company that can cater to your needs perfectly. By hiring a professional company, you can save your time, money and efforts. In short, a professional firm will help you have a smooth take-off.

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