Opening a company in Asia versus opening a company in Europe is debated by many foreign investors, because both continents offer advantageous conditions for establishing a business. However, it should be noticed that Asia represents the largest consumer market in the world and having a presence here could be a better choice.
When considering the countries one can open a company in, Singapore in Southeast Asia, and Italy in Europe could be a good debate theme. Below we will offer a short comparison between the company registration procedures in Singapore and Italy. Also, our Singapore company formation specialists can assist foreign investors interested in starting a business in the Republic.
Company formation in Singapore
Singapore boasts one of the most skilled work forces in the world which is made up by a large percentage of foreigners established here. So, company formation in Singapore could be very advantageous for foreign investors trying to enter other markets because of the large number of foreign citizens working here and knowing the European markets.
The limited liability company is the most employed type of company chosen by investors opening companies in Singapore. The Singapore company formation process consists in drafting the articles of association of the company and filing them together with other relevant documents with the Companies Register. Once the company is registered, it can apply for the licenses required to start doing business in Singapore.
Registering a company in Italy
Compared to the starting a business in Singapore, opening a company in Italy starts with the same preparation of the statutory documents. The limited liability company is also a preferred option for foreign investors, however compared to the Singapore limited liability company which does not require a minimum share capital, the Italian company requires at least 10,000 euros to be registered.
Also, compared to the company registration procedure in Singapore which can be completed within a week, the company registration process in Italy can take up to 10 days. Also, there are fewer steps to be completed when registering a company in Singapore compared to Italy. This is because additional certifications for corporate and accounting documents are required.
If you have decided to open a company in Singapore and need assistance, do not hesitate to contact us.