When you are setting up a singapore business there are a few things that you need to take note of so that you do not get into big trouble when you are into the business and things are too late to be changed or adjusted.
When you are setting up always make sure that whoever is the director is able to handle the work and will not give trouble when it is time to sign documents. You will have some problems if the accounts are not sign off by the directors and in that situation incur cost that will keep the company in trouble.
Shareholders are also a very big portion of the business, always make sure that the shareholders have limited control of management if they only pay for the business.
Setting up business is tough, work hard, good luck
Showing posts with label how to run business singapore. Show all posts
Showing posts with label how to run business singapore. Show all posts
Thursday, 12 February 2015
How to set up a company in Singapore
Are you keen on setting up a business in Singapore
Singapore is very popular for start ups now especially so if you are coming from a technological background. Tech companies are very popular here because there are many educated persons with very strong tech backgrounds that you can take advantage of.
The government is also very keen on improving productivity and reducing the need of more foreigner workers and will therefore strongly support start ups that are able to achieve their goals of reducing reliance on manpower.
You need to have a local director if you require a Singapore company to be set up. Nominee directors can be appointed for a fee if you need it and that will allow you to operate without having to find someone you might know but instead pay someone to stand in the position but have no actual power to make decisions for your business.
You will also be required to figure out what is the shareholding now and how you want to structure the company in terms of the shareholding and this will allow the company to have the shares held by those who commit the most to the company. As the shareholders are the rightful owners of the company, the shareholders can get rid of the directors if they do not perform and this they must be aware.
Singapore is very popular for start ups now especially so if you are coming from a technological background. Tech companies are very popular here because there are many educated persons with very strong tech backgrounds that you can take advantage of.
The government is also very keen on improving productivity and reducing the need of more foreigner workers and will therefore strongly support start ups that are able to achieve their goals of reducing reliance on manpower.
You need to have a local director if you require a Singapore company to be set up. Nominee directors can be appointed for a fee if you need it and that will allow you to operate without having to find someone you might know but instead pay someone to stand in the position but have no actual power to make decisions for your business.
You will also be required to figure out what is the shareholding now and how you want to structure the company in terms of the shareholding and this will allow the company to have the shares held by those who commit the most to the company. As the shareholders are the rightful owners of the company, the shareholders can get rid of the directors if they do not perform and this they must be aware.
Sunday, 25 January 2015
What are the things to watch out for when running a Singapore business
What are the things to watch out for when running a Singapore business
Singapore is top ranked for ease of doing business and also the best place to be for a expatriate. Singapore is also ranked as one of the most start up friendly place. So what are the things that we think you should watch out for when you are setting up a Singapore business.
Singapore has a very limited human resource pool. The only resource it has is the human resource and thus this item is in limited supply. Singaporeans are needed as quota before you could employ foreign workers and nowadays the government is making it a must to choose Singaporeans first before you could consider employing a foreigner to take that space. Finding staff in Singapore is tough as there are expectations of a certain level of salary and also job scope. This is something every business person will need to pay attention to when they set up business in Singapore. One would not expect to find cheap labour here. The wages are comparable to those in the United States.
Singapore is also a place where there are many rules and regulations, some industries such as those food related are very strictly regulated. Always ensure that you have a set of licenses before you carry out the business. Fines can be sky high and that would be something a businessmen would want to avoid so that you do not go into debt before your business even commence. Rules such as operating hours, the volume of ones operation and even the weight limits are also very strictly followed. Inspectors from various agencies will frequent the place so one should always watch out for any items that are against the rules and set them right before going ahead.
Singapore is also a very law abiding society, so when it comes to business dealings, always remember that you should never deal in under table trading. Dealing with government officials are required to be all above board and attempting to bribe an official in Singapore can have a very big sentence over your head. Even when it comes to commercial dealings, one should also keep away from even attempting to bribe or under table deal any business with others.
Find out how to Singapore Company Registration Services today
What are the things to watch out for when running a Singapore business
Singapore is top ranked for ease of doing business and also the best place to be for a expatriate. Singapore is also ranked as one of the most start up friendly place. So what are the things that we think you should watch out for when you are setting up a Singapore business.
Singapore has a very limited human resource pool. The only resource it has is the human resource and thus this item is in limited supply. Singaporeans are needed as quota before you could employ foreign workers and nowadays the government is making it a must to choose Singaporeans first before you could consider employing a foreigner to take that space. Finding staff in Singapore is tough as there are expectations of a certain level of salary and also job scope. This is something every business person will need to pay attention to when they set up business in Singapore. One would not expect to find cheap labour here. The wages are comparable to those in the United States.
Singapore is also a place where there are many rules and regulations, some industries such as those food related are very strictly regulated. Always ensure that you have a set of licenses before you carry out the business. Fines can be sky high and that would be something a businessmen would want to avoid so that you do not go into debt before your business even commence. Rules such as operating hours, the volume of ones operation and even the weight limits are also very strictly followed. Inspectors from various agencies will frequent the place so one should always watch out for any items that are against the rules and set them right before going ahead.
Singapore is also a very law abiding society, so when it comes to business dealings, always remember that you should never deal in under table trading. Dealing with government officials are required to be all above board and attempting to bribe an official in Singapore can have a very big sentence over your head. Even when it comes to commercial dealings, one should also keep away from even attempting to bribe or under table deal any business with others.
Find out how to Singapore Company Registration Services today
What are the things to watch out for when running a Singapore business
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