Why it is so easy to set up business in Asia's most business-friendly country

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As Asia's most business-friendly country it is natural that Singapore attracts a lot of investments from around the world. Entrepreneurs and business promoters flock to the island country for setting up business. Singapore is a hot destination for business startups and even established companies are interested in setting up business establishments there. The country has adopted many business-friendly policies and the political stability that it enjoys together with substantial tax benefits for business owners, have created a solid ground for starting up a business in Singapore. Foreign entrepreneurs would find it very easy to set up a business, a fact corroborated by a report published by research firm Compass that ranks Singapore as the tenth hottest country with a robust startup ecosystem.

Start a business in 1 hour

Start a business in 1 hour is not just a slogan but stark reality in Singapore even for foreign entrepreneurs. It seems highly striking when you consider that Singapore laws stipulate that foreign individuals or corporate entities cannot register a Singapore company. It does sound a bit intriguing especially when you try to justify the claim that the country is highly business-friendly. However, when you look deeper, you would discover that things are not at all as difficult as it might appear on the surface because you can do it very fast by engaging a professional secretarial firm like Acrafile Incorporation Services to register your Company in Singapore.

Conditions apply

The laws of the land pertaining to registering a new business in Singapore stipulates that the company must have a local registered address and even accommodate at least one Singapore citizen within the business set up. It is not a business collaboration but more of allowing local people to participate in the business. The company set up must include at least one Singaporean resident director, have at least one native shareholder whether an individual or corporation and appoint a Company Secretary who is a resident and citizen of the country.

Friend, philosopher, and guide

The professional secretarial firm that helps to set up business in Singapore holds the hands of entrepreneurs and walks them through the entire process while taking responsibility for all legal compliance necessary for starting up business. They provide comprehensive Company secretarial services that include handling of all activities pertaining to the Company Memorandum and Articles of Associations, self-inking rubber stamp, share certificates issued to shareholders, ACRA's e-notice incorporation, minutes of first board meeting and assistance in opening a local bank account. What to do and how to do