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How Much Start Up Capital is Needed to Open a Business in Singapore
Ready to get started on a brand new, entrepreneurial adventure in Singapore? Excellent choice! Singapore is one of Asia’s most bustling business hubs for company formation, an island ripe with opportunity for all who come seeking for it.
Foreign investors and entrepreneurs from around the world have successfully established many a business here in Singapore over the years, and yours could be the next to join Asia’s most vibrant business hub. What are the steps to start a business?
Singapore is the ideal location for entrepreneurs to start their next venture, as strong investment and trade makes Singapore Asia’s most competitive country and the world’s easiest place to do business.
What Do I Need to Start a Business in Singapore and how to open a new business?
One of the best things about starting a business in Singapore – besides how easy it is- is the reasonable minimum share capital payment that is required to get started a business to open. When we say reasonable, it really is reasonable. See the following on how to open a small business.
Take a look at how much start-up capital is needed for how to start your own business and opening company in Singapore:
- Pay the minimum paid-up capital of SGD$1. The share capital is the amount that the shareholders commit to, and the liability of the shareholder is limited to that.
- If you are applying for an Employment Pass, we would recommend a paid-up share capital of SGD$100,000. However, please note that this is a non-key consideration factor, and there is no guarantee of an approval of your work pass despite the higher share capital amount.
Another point to note is that some government project tenders may require you to put forth a higher share capital amount. You may also opt to put in a higher share capital payment should you want to make a better impression on your customers, this is also an option to consider. You may also put forth a share capital amount of SGD$1,000 which is an option most entrepreneurs go for as they can easily transfer their shares to another when they want.
Still Have Questions and not sure how to do business? Feel Free to Contact Us!
Contact us at 3E Accounting for all your company setup needs and understand what are the steps to start a business. Our dedicated experts are ready to help you every step of the way throughout your company setup process, how to open a new business and we will be here to advice you every step of the way on how to open a small business. Visit our website today for more information on how to start your own business and to get in touch with us.
3E Accounting has helped many business to open over the years establish their success in Singapore, and we can do the same for you.