Overview of company incorporation
What other things do I need to consider after incorporating my company in Singapore?
1. Licenses
Doing business in Singapore is generally so easy, most general consulting and service businesses don’t need a license. However, watch out for anything that might relate to specific industries like F&B, construction, finance and education etc.
2. Office rental
Co-working spaces are the trend now. Most of them concentrated in the city area.
3. Talent hiring
While hiring, act according to the Fair Consideration Framework of MOM which encourages local hiring before hiring foreigners.
4. Annual compliance
It’s relatively easy in Singapore to maintain your company. If your company doesn’t have specific taxes like goods and services tax (GST) or withholding tax (WHT), your compliance can be done just once a year. Make sure to consult with your accountants or company secretaries for this.
5. Living in Singapore
A very easily overlooked matter among the craze of setting up your business in Singapore. What’s the plan with the accommodation? What’s the transportation like? Do you need to convert your license? And most importantly post pandemic, do you need to be vaccinated? We have a whole category of articles to address these issues. Click here to read on.