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Singapore Business
There are many individuals who are of the opinion that carrying out a business in Singapore is not a difficult job. With the latest and high-tech infrastructure and human resource investment, Singapore is one fine country to open your business in. You will learn that there are very little or no red tape involved if you want to commence your own business. If you are interested in setting up a new business in Singapore then this article will help you tremendously for it informs you about the necessary steps that you need to take for setting up the business.
1. Registration: Just like any other country, you will have to register your business with proper authorities. You will need to get in touch with a Chartered Accountant, lawyer or a professional if you are thinking of setting up a branch of a foreign firm in Singapore. These people can help you with the filings and the different procedures of registering your firm. According to the Companies Act, you will have to employ two individuals to carry out the workings of the firm.
2. Approval of company name: Prior to the registration of the company, you will need to get the name of the firm approved. If the name you have chosen is being used by another company then that name will not be approved. You will have to think of a name that has not been used by any firm. Names that are offensive will also not get approval.
3. Branch office: You should get a branch office registered, if you think it is necessary. This holds true especially if you are planning to carry out business in Singapore. You will need to follow certain rules and regulations if a foreign company wishes to operate in Singapore.
4. Application for approval: You can put forward an application, for the purpose of getting approval, online through a service bureau or a professional firm. The application can also be put forward by the future director of that up-coming firm.
When you need to go to any business meetings or attend any social events then make sure that you reach the location on time. If you are going to be late then make a call in advance. Arriving late without prior knowledge is considered to be a sign of disrespect. When you are exchanging business cards with other people, make sure that you use both hands to give and receive the business cards. This would show that you have respect for others. Never set or agree on a deadline which you can not complete. If you think the time given is not enough then ask for more time. Do not simply agree and then submit the work after the deadline. This would look very unprofessional and it will not create a good impression. You can be direct when you are talking about monetary issues. Singaporeans are known to get right to the point when they are dealing with others.
Follow all these and you can be on your way to success in Singapore.
Billy Chen
CEA Registration Number : R029372I
Tel: (+65) 88689999
Fax: (+65) 64021826
billy@billychen71.com
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