Foreign investors must establish an entity in Singapore to do business in the country.
The transparent nature of Singapore’s business and legal regulations means most of the information a business needs are readily available online. This makes it much easier for overseas decision-makers to learn more about the market during the entry process.
Businesses that are ready to set up can use Bizfile, an electronic filing system that combines all the tax and business requirements on a single form, reducing the need to queue at service centers.
Overseas businesspeople can make a payment through Bizfile; it costs US$254 (S$300) to register a company and US$10 (S$15) to register the company’s name. Most applications are processed within the same business day; however, the process could take 14 days to two months for applications that need to be reviewed by government agencies.