Buying a ready-made company in Singapore

Today, Singapore continues to be one of the most attractive countries for opening and conducting business there, particularly for non-residents.

A number of factors make it such:

• a stable economic environment,
• favorable regulatory regulation of business activities,
• a convenient strategic location in the context of international cooperation, etc.

Let’s consider some aspects in more detail.

First, it is worth paying attention to the fact that Singapore has one of the most favorable tax systems for conducting business.

In particular, the country offers a low income tax rate for entrepreneurs (17%), compared to the same EU.

At most, there is a fairly wide range of tax incentives designed to attract investment and promote the rapid development of certain types of activities (for example, research activities).

Secondly, Singapore occupies a prominent place among countries that have signed numerous free trade agreements with countries from around the world.

Therefore, for entrepreneurs whose main goal is to carry out trade or provide services on the foreign market, import and export procedures in this country become simple and economically profitable.

Singapore is also known for its modern infrastructure in the field of transport and telecommunication network, a wide range of qualified specialists who speak English fluently, and will be a driving force for the development of newly created businesses.

Finally, the process of business registration and re-registration in Singapore is relatively simple and will not require a lot of effort and patience of the entrepreneur.

In addition, the service of online registration of a new company is currently gaining significant popularity, which provides a person with the opportunity to register a business without physical presence, as well as to perform other registration and organizational actions to obtain the desired result.

Therefore, taking into account the above, and adhering to the principle of client orientation, the lawyers of Prykhodko and Partners JSC recommend that clients interested in doing business in Singapore buy a ready-made company there.

For your understanding, we will consider the key stages of this procedure.

1. Legal audit of the object (company) to understand the financial reputation, the presence of potential liabilities of the company depending on its legal status and other aspects that will be important for the client (whether operational activities were conducted, how long it has been on the market, and others);
2. Compilation and preparation of appropriate documentation, the components of which are: the purchase and sale agreement of the corporate rights of the existing company for sale, founding documents, as well as a high-quality business plan, which will reflect the goals, strategy, and vision of the acquired company’s development;
3. Opening a corporate account with the acquired company, which involves performing a number of the following actions: analysis of the requirements and policy of the bank (payment system) for the unhindered opening of an account for a non-resident, preparation of the necessary documents at the request of the bank, support in opening the corresponding current account (if necessary, also confirmation of the legality of the origin of funds to place them on the account).

It is quite important to contact the right specialist for a successful and efficient procedure of buying a ready-made company in Singapore.

Therefore, the lawyers of Prikhodko and Partners JSC offer clients full legal support for the purchase of a ready-made company in Singapore, which will include the preparation of documents, their correct certification in accordance with the legislation of the specified country, but also interaction with banks, the tax and registration authorities of Singapore for the implementation all stages of re-registration.

Conclusions.

Buying a ready-made company in Singapore is a good option for those who want to enter the international market as soon as possible and provide goods or services for countries not only in Europe, but also in a large part of Asia.

The procedure of reregistration of a ready-made company for a non-resident becomes simple with the involvement of a qualified specialist and can save not only effort, but also your precious time.