Many Hong Kong businesses have currently turned to Singapore as the next best location to continue their business operations. Setting up a company in Singapore for foreigners is of no hassle if you’re set with a step by step plan of the
incorporation process. So, we have collated a small guide for your ease
to set up your Hong Kong business in Singapore.
1. Why should I choose Singapore?
In Hong Kong, there might be a hassle in incorporating a company because of the need to sign documents in person. However, in Singapore, all documents can be collated and signed online, therefore, making the process quicker and easier.
Additionally, Singapore offers the following, for foreign companies:
- - 100% of the company can be owned by foreigners.
- - There is no tax on capital gain, and taxes are low
- - Due to the process being online, it takes just an hour to complete the registration process.
2. What business structures can I choose from in Singapore?
The four main types of business structures that are available in Singapore are:
- - Sole Proprietorship or Partnership
- - Private Limited Company (Pte Ltd)
- - Limited Liability Partnership (LLP)
- - Company Limited by Guarantee
Naturally, a private limited company is the most common business structure opted by foreigners when setting up a company in Singapore.
Our advice to you would be to answer these few questions before determining the type of business structure you want:
- - Is it easy to end the business entity?
- - How much capital investment is required?
- - What are the pros and cons of all the business structures?
- - Will I be okay to be personally liable?
- - How many owners will be a part of the business?
- - What is the tax policy under different entities?
Read more on how Hong Kong businesses can set up an SG company in an hour at Rikvin.com.
