How to set up a business in Singapore from Hong Kong? | Bestar

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How to set up a business in Singapore from Hong
Kong?
Bestar Services Pte. Ltd
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How to set up a business in Singapore from Hong
Kong?
Tax Planning While Being In Singapore

• Setting up a Business in an overseas country is a
  dream and ambition for countless startups and
  existing businesses across the globe. Singapore
  is one of the hottest hubs for setting up
  business worldwide.
• With access to the latest technology, picturesque
  infrastructure, skyscrapers, Singapore Government
  support, and many more benefits and long-term
  advantages, Singapore is undoubtedly one of the
  top countries on the list of people looking to
  set up business in an overseas country.
• In this blog, we will walk you through how to set
  up a business in Singapore from Hong Kong
  effortlessly.

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How to set up a business in Singapore from Hong
Kong?
Tax Planning While Being In Singapore
Why is Singapore one of the hottest hubs to start
a business?

• In Singapore, the procedure of setting up a
  business is quite straightforward and requires
  minimal time. With the proper documentation and
  following the correct procedure, you can set up
  your business in Singapore from Hong Kong on the
  same day.
• The reason is that the information needed by
  Singapore Local Government Agencies to
  incorporate a company/business can be submitted
  online, which is offline in Hong Kong.
• The following are the salient reasons to register
  a business in Singapore
• 100 Ownership of your Singapore
  Company/Business.
• Registration of the Company can be done within
  hours.
• Taxes are low, and there is no tax on Capital
  Gain. Also, the treaty network is extensive.

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How to set up a business in Singapore from Hong
Kong?
Tax Planning While Being In Singapore
Which Business Structures are available for
registering Business in Singapore?

• Before company/business registration, you must
  decide which company structure suits your
  business. We recommend answering the following
  questions for deciding the company structure
• How much capital investment is required?
• How many owners will be there in the
  company/business?
• Do you want to for sole proprietorship for
  bearing the sole liability or not? If yes, refer
  to your existing on why how to go for a sole
  proprietorship in Singapore.
• What are the advantages disadvantages of
  different company structures?
• How much tax will you be paying under different
  company structures?

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How to set up a business in Singapore from Hong
Kong?
Tax Planning While Being In Singapore

• Once you have answered the above five questions,
  you need to decide which business structures you
  want to go with from the following four types of
  business/company structures How much capital
  investment is required?
• Private Limited Company (Pte Ltd)
• Limited Liability Partnership (LLP)
• Sole Proprietorship or Partnership
• Company Limited by Guarantee

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How to set up a business in Singapore from Hong
Kong?
Tax Planning While Being In Singapore

• Note Private Limited Company (Pte Ltd) is one of
  the most favored business structures in Singapore
  for Company registration. You must choose the
  right business structure for foreign company
  registration in Singapore, which will affect your
  business taxation.
• At Bestar Services, we provide foreign company
  setup and registration in Singapore. Our team
  will guide you through the entire procedure and
  help you select the right business structure for
  your company.

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How to set up a business in Singapore from Hong
Kong?
Tax Planning While Being In Singapore
What do I need to start a company in Singapore
from Hong Kong?

• The following things are required to start a
  company in Singapore from Hong Kong
• Company Name
• You can check your company name to see if it is
  taken or not and register it with ACRA, the
  Accounting and Corporate Regulatory Authority of
  Singapore. It is Singapores National Agency that
  registers oversees the businesses in Singapore.
• 2. Singapore Physical Address
• You must have a Singapore Physical Address for
  ACRA to contact your company by post.

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How to set up a business in Singapore from Hong
Kong?
Tax Planning While Being In Singapore
What do I need to start a company in Singapore
from Hong Kong?
3. Resident Director A Hong Kong Company
Director needs a work pass (Singapore Employment
Pass) to act as your companys Local (Resident)
Director. If you dont have one, you must appoint
a Local Resident Director of Singapore as your
Nominee Director. The Nominee Director must be a
legal resident of Singapore (Citizen of Singapore
or an EntrePass holder) and at least 18 years
old. 4. Company Secretary You must appoint a
Company Secretary within six months from the
company incorporation date.
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How to set up a business in Singapore from Hong
Kong?
Tax Planning While Being In Singapore
What do I need to start a company in Singapore
from Hong Kong?
5. Paid-up Capital You need paid-up capital if
you have opted for a Private Company (Pte Ltd)
business structure. The amount for paid-up
capital is between S1 to S1000. It can be in
other currencies too. You can increase it any
time after your company incorporation. Refer to
our article on how to raise funding for starting
a new business in Singapore.
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How to set up a business in Singapore from Hong
Kong?
Tax Planning While Being In Singapore
Do I have to visit Singapore for Company
Registration?

• No, it is not mandatory to visit Singapore for
  Company Registration. You can register your
  business online from Hong Kong or anywhere else.
  You just need an internet connection and a
  laptop/desktop to set up a business online in
  Singapore. You only need to fly once to open your
  business bank account in Singapore.
• By contacting Bestar Services, we will help you
  conduct the entire process of setting up a
  business in Singapore from Hong Kong, from
  company registration to opening a business bank
  account, helping you save time money.
• We are one of the top business registration
  providers in Singapore and have helped 100s of
  individuals set up their businesses in Singapore
  from Hong Kong and other parts of the world..

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How to set up a business in Singapore from Hong
Kong?
Tax Planning While Being In Singapore
How long does it take for Company Registration in
Singapore?

• You can get your business incorporated in
  Singapore within 24 hours with all the required
  documentation and paperwork. Applications are
  processed rapidly within a couple of hours.
• At Bestar Services, we will help you gather the
  required documentation and paperwork on your
  behalf for company registration in Singapore.

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How to set up a business in Singapore from Hong
Kong?
Tax Planning While Being In Singapore
Is it mandatory to have employees working in
Singapore after company registration?

• No, it is not mandatory to have employees in
  Singapore after you have registered your company.
  You can operate your business in Singapore
  without a single employee.
• You can have a global online team for business
  operations. All you need is a Resident Director
  and a Company Secretary for your business in
  Singapore.

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How to set up a business in Singapore from Hong
Kong?
Tax Planning While Being In Singapore
Can I move to Singapore after opening my business
there?

• Yes, you can move to Singapore after company
  incorporation registration via a visa called
  Employment Pass. It takes around 6 months to
  receive Singapore Employment Pass. At Bestar
  Services, we have helped 100s of individuals
  obtain Singapore Employment Pass by assisting
  with required documentation and paperwork.
• To qualify for Singapore Employment Pass, you
  need to pay yourself a salary, which shouldnt be
  less than 3600 (starting pay of a fresher
  graduate in Singapore). If you have work
  experience, the salary should be between 6000 to
  8000.
• Singapore Employment Pass is required when you
  want to bring your family to Singapore, and they
  will need dependants passes.

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How to set up a business in Singapore from Hong
Kong?
Tax Planning While Being In Singapore
What taxes do I need to pay in Singapore?

• After company incorporation registration in
  Singapore from Hong Kong, the next question that
  comes to the individuals mind is what taxes I
  must pay in Singapore.
• By setting up a business in Singapore, your
  source of income will be generated only in
  Singapore, and you will be taxed Corporate Tax
  and Personal Income Tax (according to the current
  tax rates).

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How to set up a business in Singapore from Hong
Kong?
Tax Planning While Being In Singapore
Do I have to pay taxes in Hong Kong after setting
up a business in Singapore?

• Like Singapore, the Hong Kong Tax system follows
  a territorial income source principle to
  determine which sources of income are subject to
  taxation in Hong Kong. In Hong Kong, only the
  profits sourced from Hong Kong are taxable.
• If you have set up a business in Singapore and
  earn profits from it, you dont have to pay
  corporate tax to the Hong Kong Government.

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How to set up a business in Singapore from Hong
Kong?
Tax Planning While Being In Singapore
Conclusion

• After reading the blog, you will have
  comprehensive information regarding incorporating
  and registering the business in Singapore from
  Hong Kong.
• However, if you have questions regarding setting
  up your business in Singapore from Hong Kong
  related to documentation, paperwork, costing, or
  any other, feel free to contact us, and our
  business registration advisors will assist you
  with the entire process.
• At Bestar Services, we believe in helping every
  individual residing in Hong Kong or any other
  country abroad set up their business online in
  Singapore without visiting Singapore for any
  documentation or paperwork. We conduct the entire
  process online.

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How to set up a business in Singapore from Hong
Kong?
Tax Planning While Being In Singapore

• We provide comprehensive business services under
  one consolidated roof. You can contact us via
  email at admin_at_bestar.asia or via call at 65
  62994730.
• Refer to our blog on how to start an online
  business in Singapore in 7 easy steps for your
  reference.

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