[Photo: STB]
Whether you’re an individual or a corporation, the process of starting a business in Singapore is simple.
REQUIREMENTS FOR REGISTERING A BRANCH OF A FOREIGN COMPANY IN SINGAPORE
Under the Companies Act, the minimum number of authorised representatives required is one.
The branch of a foreign company must have at least one authorised representative who is ordinarily resident in Singapore.
Being “ordinarily resident in Singapore” means the director’s usual place of residence is in Singapore. A Singapore Citizen, Singapore Permanent Resident or an EntrePass holder can be accepted as a person who is ordinarily resident in Singapore.
BUSINESS LOCATIONS
From the heart of Singapore’s latest financial and business district in the Marina Bay Financial Centre to suburban offices in Jurong Lake District, Tampines and Paya Lebar, businesses have a variety of options to find a commercial premise that best meets one’s needs.
In the industrial space market, there are developers like Ascendas, Mapletree and Soilbuild that offer many contemporary space options, from stack-up factories with dedicated loading and unloading bays to spaces for wet labs and research activities. Government bodies like HDB and JTC Corporation also provide industrial land and space options for industrialists engaging in high value added industrial activities in Singapore. An example of an innovative and environmentally-friendly industrial space concept is JTC’s multi-tenanted Surface Engineering Hub which aims to minimise water and carbon footprint for companies engaging in electroplating and other similar processes.
JTC also develops specialised industrial parks in Singapore like the Seletar Aerospace Park, Tuas Biomedical Park and Jurong Island to support the growth and development of key manufacturing sectors. Such specialised industrial parks provide industrialists with the necessary supporting infrastructure and allow industrialists to leverage the potential synergies by being clustered together. These specialised industrial parks in Singapore have proven to be attractive to companies and remain a cornerstone of Singapore’s industrial development.
Below are the websites of the major industrial space developers in Singapore for more information:
• Ascendas
OVERSEAS INDUSTRIAL PARKS
Located in the heart of Southeast Asia, Singapore also serves as a gateway for companies to enter the region. A few Singapore developers have also developed industrial parks in the region for Singapore companies and multinational corporations that seek a Singaporean environment. Some notable examples include Sembcorp Development’s industrial parks in Vietnam and Batam, and also Ascendas’ portfolio of industrial parks in the region including India, China and Vietnam.
For more details on the industrial parks operated by Singapore developers in the region, please refer to the following websites:
• Ascendas
GLOBAL INVESTOR PROGRAMME (GIP)
Foreign entrepreneurs and business owners who are interested in relocating to and investing in Singapore can go to Contact Singapore.
Contact Singapore advises family businesses on their entry and stay in Singapore. Whether creating new businesses or expanding businesses in Singapore, Contact Singapore connects entrepreneurs and business owners with relevant partners to facilitate their decision making to establish strategic activities in Singapore. Contact Singapore also administers the Global Investor Programme, which accords Singapore Permanent Residence status to investors with substantial business track record and successful entrepreneurial background who intend to drive their business and investment growth from Singapore.
For more information on the Global Investor Programme, please refer to the following link:
https://www.contactsingapore.sg/gip
CONTACT
Need further assistance? Get in touch with the Singapore Economic Development Board’s India office in Mumbai. The EDB is the lead government agency for planning and executing strategies to enhance Singapore's position as a global business centre. It works closely with MNCs and companies with ambitions to globalize to use Singapore as a springboard for regional expansion and headquarter activities.
Address:
216/217,
The Capital,
Plot No. C-70,
G Block,
Near ICICI Bank,
Bandra Kurla Complex,
Bandra (East),
Mumbai 400051
Email: Mumbai@edb.gov.sg