What Does a Singapore-Based Company Mean?
A Singapore-based company refers to a business entity that is incorporated, registered, or has its principal place of business in Singapore. In other words, the company operates under Singapore’s legal and regulatory framework and is recognized by the Accounting and Corporate Regulatory Authority (ACRA) as a legitimate local enterprise.
Besides, a Singapore-based company does not limit its business to only the local market. Various businesses use Singapore's excellent location and business ecosystem to extend their operations either regionally or globally. As an example, a global company based in Singapore can have offices, subsidiaries, or clients in Asia, Europe, and the Americas, while its main office is still in Singapore.
A Singapore-based company is mainly identified by its:
- Legal Incorporation: Being registered with ACRA as a Private Limited Company, Public Company, or other recognized business entity type.
- Local Directors and Registered Address: At least one director who is a Singapore resident, and a registered office located in the country.
- Compliance with Regulations: Meeting all statutory obligations under Singapore corporate law, tax regulations, and annual filing requirements with ACRA and IRAS.
The city-state's stable economy, transparent legal system and business-friendly policies are some of the reasons why startups, SMEs, and multinational enterprises decide to set up a Singapore-based company. The country, with its low corporate tax rates, efficient infrastructure, and access to skilled labor, is an ideal place for innovation, trade, and regional operations.
The range of Singapore-based companies includes tech startups (Grab, Sea Limited, Razer), logistics firms (DB Schenker Asia Pacific), and financial institutions (DBS Bank, OCBC).
A trusted corporate service provider can help entrepreneurs or investors to establish a Singapore-based company and simplify the entire incorporation process. One IBC Singapore is there to provide you with the best assistance for company incorporation, compliance, and business setup so that you can start and grow your business in an efficient way in one of the most vibrant business environments in Asia.
