How to Successfully Start a Business in Singapore

start singapore business

According to business strategy experts, Singapore is one of the best countries to set up either a local business or an international one which has operations in Asia and Europe. It has strong investment and trade. Also, it enjoys agreements on avoidance of double taxation, free agreements on trade, and strong investment laws which protect peoples’ business ideas. According to a reputable business solution agency at singapore-visa.net, the country welcomes any person who wishes to set up a business here, and the agency can help you in setting it up. If you are interested in setting up a business here, then this article is for you.

The registration process

Generally speaking, registering a business is an easy process since they have computerized most of the applications. Again, they have embraced the use of technology and therefore, one does not have to physically visit the registration office. The registration depends on the type of business, but all are easy to go about. One can use any of these processes.

  • Online process – Singapore uses authorized third party sites together with the government web portal to do this. The downloads and uploads of the files are easy and straightforward. As much as one can easily download the files, uploading the completed forms may need the help of an authorized agent.
  • Using an agent – Company registrations agents are almost inevitable in Singapore as they pay a very crucial role. They usually have access rights to various government portals for uploading the filled company registration in forms.
  • Submitting in person – The authorities still allow physical submission of filled company registration forms at their designated offices.

Getting a premises

A business must have a center of operation, whether it is an office, a warehouse or a factory. Singapore is a prime business hub and getting such facilities is easy. One ought to choose whether they want their business stationed in the civic district, in an estate, or in the suburbs of the city. Whichever option one chooses, you can rest assured to get a premium infrastructure for the business.

Recruiting labor

Being a stable business hub, Singapore assures all businesses of a well-skilled pool of human resource both local and from outside. To locate the best labor, it is highly advisable to use a recruiting agency after discussing your expectations as far as employees are concerned. They will invite and conduct all interviews, post the staff and train them where necessary. If you prefer doing it yourself or with your starting team, then recruiting web portals will provide a good database of employees.

Government agencies interactions

Businesses are surrounded by laws which guide them. Therefore, one must work with various government agencies. This level of bureaucracy ensures a smooth running of all interlinked operations and thus, the smooth growth of business. Some of the agencies to work with include:

  • Economic Development Board (EDB) – for an investor support.
  • Accounting and Corporation Regulatory Authority (ACRA) – helps in registration and regulations of public accountants.

As a new business investor in Singapore, the above points will help you settle down to business fast.

from Team Negosentro

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