Are you tired of your boss and your annoying office mates? Do you hate waking up early in the morning and going to and from your office? Do you want to start making money by yourself? While some business owners end up achieving their dreams, there are still some pitfalls that you have to watch out for. So how do you start? Well, you can start by holding a business in a profitable location like Singapore.
Singapore is a wonderful location to start a business. In fact, Singapore continues to be the top country when it comes to ease of doing business according to Doing Business Data of the World Bank. It is simply the perfect country to do business. Not only is its economy stable, its market has enough purchasing power to make any type of business flourish. Crime rates are also significantly low which makes crisis management easier. If you have not yet considered Singapore for your business, then you may be missing out. If you want to know the Singapore company formation basic information, here are some things that might help you.
Do Your Homework
Starting a business is never a walk in the park. Even if you are holding your business in one of the most convenient places in the world, you still need to do your market research and ground work. You cannot blame the country for your lack of tact. Make sure that examine the demand for your product or service and to budget your overhead costs overtime. Also, it will help if you establish networks inside the country. This will increase your business’ likelihood to succeed.
Register Your Business
Now that you have everything planned, it is time to register your business. You can do this by submitting all important files to www.acra.gov.sg. This is the official website for the Singapore government. It makes the application process easier because you can do everything online. Just be sure to include the required licenses and other documents. This will depend on the nature of your business. Remember that pharmaceuticals, food, finance and others will require a different license. After this, you need to wait. It will take up to 2 months to process your application. You should pay 50 Singapore dollars for a sole proprietorship business and 15 Singapore dollars for the name of your company.
Create a Website
If you want to form a singapore company you should know that all Singapore businesses require a website. You need to register a domain name and sign up for hosting in Singapore providers like Network Solutions, Net Firms, Domain Direct, Aplus and others. This is also great if you are planning to provide online services. You can also increase trust among your visitors by paying for a TrustSG Certificate.
As you can see, registering your company is really easy. All you need to do is remember these Singapore company formation basic information and you are on your way to holding a successful business in one of the most convenient countries in the world.
Guest blog post written by Jose Gil Tecson, an SEO consultant in Singapore and who likes to travel with her family around Asia. He is interested in internet marketing and social media. You can find him at Linkedin.