company registration in a singapore free zone
TRANSCRIPT
Company Registration in a Singapore Free Zone
A presentation brought to you by OpenCompanySingapore.com
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Why Invest in Singapore?
• During the last few years, Singapore has developed so much it became an ideal place to open a company in.
• Also, Singapore now has several free zones in which foreign enterprisers can start businesses in.
• The development of these free zones has also led to the increase of the trading industry in Singapore.
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Free Zones in Singapore
• Singapore has nine free zones, Jurong Port, Airport Logistics Park, Changi Airport Terminal Complex and Keppel Distripark being just a few of the most prolific ones.
• Foreign investors can establish free zone companies in any of Singapore’s free trade zones.
• If you are interested in opening a free zone company, our Singapore company formation experts can assist you.
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Requirements to Register a Singapore Free Zone Company
• Opening a Singapore company in a free zone implies the registration procedure to be completed with ACRA and then obtaining the necessary permits with the authority of the free zone where the company will operate.
• In order to register a company in a Singapore free zone, an investor must prepare the statutory documents and together with their personal details submit them with the Trade Register.
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Share Capital Requirements for Singapore Free Zone Companies
• The only special requirement for a free zone company is to have a minimum share capital of 100,000 SGD if it will have a warehouse, and 50,000 SGD if it will only have an office.
• The capital must be deposited within the first year of activity.
• Foreign enterprisers must appoint Singapore company formation agents to carry out the company registration process.
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How to Open a Company in a Singapore Free Zone
• There are several steps to follow when registering a Singapore free zone company.
• The first step is choosing a name for the company and submitting it for approval.
• The company must open a bank account with a Singapore bank, obtain certain permits or licenses if it is the case and register for Goods and Service Tax (GST) with the authorities.
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Documents for Company Registration in Singapore• The information and documents to be
submitted with the Singapore Trade Register are:
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the company name;
information about business activities to be undertaken in the Singapore free zone;
details about the shareholders, directors and secretary of the company;
the registered address of the Singapore company;
the Articles of Association of the company.
Import and Export Licenses in Singapore
• All trading companies must obtain a Unique Entity Number (UEN) with the Customs Authority, open an inter-bank GIRO account and obtain the IN and OUT permits, which allows them to import, respectively export goods.
• Also, special licenses are required for the import of high-tech and controlled products.
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Advantages of Free Zone Companies in Singapore
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• The main advantage of free zone companies in Singapore is that they do not pay any customs duties or GST when importing goods into the free zone.
• Singapore’s free trade zones also enable companies in the trading sector to benefit from transportation facilities.
Assistance in Company Registration in Singapore
• Clients may request the help of our company formation experts in Singapore if they want to open a free zone company.
• For full information on how to open a company in a free zone in this city-state, do not hesitate to contact our company registration agents in Singapore.
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Thank you for your attention!
For more information, please contact us at:
+ 852 8191 3385
www.opencompanysingapore.com11