Setting up a foreign entity in Singapore requires a strategic approach. As Asia's premier business hub, Singapore offers an incredibly business-friendly environment, but navigating the initial setup, from Employment Passes to securing Grade A office space, can be complex.
1. Company Incorporation & Taxation
The first step is incorporating your company with the Accounting and Corporate Regulatory Authority (ACRA). Singapore offers an attractive corporate tax rate, capped at 17%, with numerous exemptions for new startups during their first three consecutive years of assessment.
2. Securing Employment Passes (EP)
For foreign executives relocating to Singapore, securing an Employment Pass is critical. The Ministry of Manpower (MOM) utilizes the COMPASS framework, a points-based system evaluating both the individual's qualifications and the company's workforce diversity. It is highly recommended to engage an immigration specialist early in the process.
3. Securing Grade A Office Space
The commercial real estate market in Singapore moves exceptionally fast. Prime locations like Marina Bay and Raffles Place are highly sought after. Having a dedicated commercial broker who understands your specific operational and licensing needs will save you immense time. Landlords in Singapore typically require a 2-3 month security deposit and will evaluate your company's paid-up capital before approving a lease.
Need help setting up?
Through the BNI Champions Chapter, we can connect you with vetted specialists in incorporation, immigration, and tax, while we handle your office leasing end-to-end.