Why Set Up a Manufacturing Company in Singapore?
-
Advanced Industries and World-Class Infrastructure
-
Business-Friendly Policies
-
Skilled workforce
Singapore leverages on its strategic location, combined with policies to aid businesses’ growth and a workforce with the required knowledge and skills to help companies thrive.
Step-by-Step Guide to Setting up a
Manufacturing Company in Singapore
Step 1: Decide on your company’s business type
- Identify your target industry and products you would like to manufacture.
- Determine whether your primary customers will be local, regional or international.
Step 2: Define the legal structure of the company:
- Choose a business entity which suits your operations – options include Private Limited Companies (Pte Ltd), Branch Office or Representative Office.
- Register your company with the Accounting and Corporate Regulatory Authority (ACRA). Registration includes choosing a company name, appointing directors and providing a registered office address.
Step 3: Obtain the Relevant Licenses and Permits
- Some common manufacturing licenses include the Factory License and Environment and Pollution Permits, which ensure that your business can be carried out legally.
Step 4: Set Up Business Operations
Set up the essential aspects of your business – these include a corporate bank account, hiring an accountant and registering for the necessary taxes with IRAS.
Step 5: Employ staff for your company
If you plan to hire foreign employees, you will need to apply for the necessary work passes for them (eg Employment Pass, S Pass etc) depending on the employees’ qualifications.
Setting up a manufacturing company in Singapore can seem like a long-drawn process, with many hoops to jump through just to get the company on its feet.
By entrusting your company to the team behind ScAilable, getting your company up and running can be a walk in the park.