Many people believe starting a new business in Singapore is easy. So long as you have your ID no and a Singpass, registering a company or business can be done straight away with a few simple point and click!
Unfortunately, that’s not always the case. There are enough real life cases where mistakes were made, which can cost you a lot more money and time to solve, not to mention cause some serious stress, than if you were to get experts’ advice beforehand.
In order to get a successful start, you will need to plan ahead and learn the requirements and options available for starting a new business in Singapore. It is therefore important to understand and choose the most suitable business structure as it can affect you in various ways.
The following are some of the potential issues that you would need to think about before embarking on your new business
- Number of owners in the business
- Records and accounts you have to keep
- Taxes you have to pay (personal versus corporate tax rates)
- Ways you can raise funds
- How management decisions are made in the business
- How easy it is to close the business
Let us to help you get started on the right note. With 8 years of experience assisting clients with their incorporation needs, we can assure you of prompt, efficient and friendly service.