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Launching Your Business in Singapore as a Foreign National

Creation date: Apr 11, 2024 1:41am     Last modified date: Apr 11, 2024 1:41am   Last visit date: May 22, 2024 10:38pm
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Apr 11, 2024  ( 1 post )  
4/11/2024
1:42am
Lanturn Com (lanturn)

However, for foreign nationals, opening a business in this vibrant city-state involves navigating a unique set of challenges and regulations. This is where Lanturn, a premier provider of corporate services in Singapore, comes into play, offering invaluable assistance to those looking to make their mark in the Singaporean business landscape.

The first step in establishing your business in Singapore is choosing the right type of company structure. The most common form for foreign entrepreneurs is the Private Limited Company due to its credibility, limited liability, and tax advantages. Preparation is key, and having a clear business plan can help streamline the process.

Registration with the Accounting and Corporate Regulatory Authority (ACRA) is the next critical step. The process is remarkably efficient, often completed within a day. However, it requires thorough documentation, including details on the company's name, shareholders, directors, and business activities. Foreign nationals must also appoint a local resident director, a requirement that underscores the importance of having a local network or a service provider like Lanturn that can offer such services.

One of the most significant hurdles for foreign entrepreneurs is obtaining the right visa. The EntrePass is designed for foreign business owners planning to start and operate a new business in Singapore. It has specific eligibility criteria, including a viable business plan that needs to be reviewed and approved by the authorities. Lanturn's expertise can be particularly beneficial here, offering guidance through the application process and ensuring that all criteria are met.

Lanturn goes beyond just helping with company incorporation and visa applications. Their suite of services includes everything from accounting and tax compliance to secretarial services, designed to support your business at every stage of its development. Leveraging Lanturn's digital platform, entrepreneurs can manage their business's financial and regulatory requirements efficiently, allowing them to focus on growth and expansion.

Engaging with Lanturn can significantly simplify the process of setting up your business in Singapore. Their knowledge of local regulations, combined with a comprehensive range of services, can help foreign nationals navigate the complexities of establishing a new business in a foreign country. By partnering with Lanturn, entrepreneurs gain not just a service provider but a partner dedicated to their business's success in Singapore.

For those looking to explore the possibilities of starting a business in Singapore, Lanturn offers a wealth of resources and services to get you started on the right foot. Discover more about how Lanturn can assist you by visiting https://www.lanturn.com/. With the right preparation and support, Singapore can be not just a dream destination for entrepreneurs but a place where their business can thrive and grow.