Foreign enterprisers seeking to open companies in Asia have several countries to choose from. Their decision will usually depend on the market they address and the connections they need in order to supply their products or services. This article will offer a comparison between opening a company in one of Asia’s largest countries, India, and the opposite- one of the smallest countries which is Singapore.
Our company registration specialists can assist foreign investors who want to open a company in Singapore.
One might think that both being Asian countries, Singapore and India will have the same company formation process. Even if the steps are similar up to a point, foreign investors should know that there are a lot of Indian citizens doing business in Singapore due to the facilities the Singapore authorities provides for foreign entrepreneurs.
The company registration process in India consists in:
Compared to the company registration process in India, the registration of a company in Singapore implies fewer steps.
As seen above, incorporating a company in India is subject to requirements such as obtaining the DIN and the digital signature, steps which are not mandatory when registering a company in Singapore.
The Singapore company formation process implies the following:
The time frame for incorporation is also lower in Singapore compared to India. A tip for those seeking to open a company in Singapore or in India is to check the business culture, no matter the country they choose. One should also pay attention to the fact that they can only open private and public companies in India, while Singapore offers a wider array of business structures.
For full information on the types of companies one can establish in the city-state, please feel free to contact our company formation agents in Singapore.