Starting a marketing company has been your life-long dream. You love everything that has to do with promotion and selling, but you would also like to make some money out of your passion. Working for a leading marketing company isn’t all that cracked up to be. No one knows this better than you. You have decided to become your own boss because you couldn’t stand not having the liberty of doing what you like. If you’re serious on setting up a marketing company, know that there’s no better place than Singapore to do it. Singapore attracts millions of entrepreneurs and it’s not hard to comprehend why. Opportunities are everywhere, not to mention that there’s no capital gains tax. Simply put, Singapore is heaven for businesspeople. If you have what it takes to start your own marketing company, make sure to follow these steps.
Step 1: Decide on a business entity
You’ve made up your mind and you want to open a company in Singapore. The first thing that you’ve got to do is decide on a business entity and you have to make sure that you choose the right one. Selecting the business entity isn’t only the first choice that you’ll be making, but also the most important one. The legal structure will determine how you run things and what perks you enjoy. If you want to survive within your first years in Singapore, don’t rush into making a decision. The last thing you want is to opt for a business entity, only to find out that it’s not the right one for you. You have to choose from options like sole proprietorship, partnership, and limited liability company. It’s worth mentioning that many business organizations who register with the ACRA do it as private limited companies. Anyway, the choice is yours.
Step 2: Pick a business name
You’d be tempted to think that choosing a business name is the easiest thing to do. Wrong. When opening a company in Singapore, your marketing company’s name needs to be approved by the ACRA. If the name bears a resemblance or, worse, is identical to a company already registered, there’s a problem. You’re forbidden to pick religious names or obscene ones. Think of something original or, better yet, use a name generator. Most importantly, look it up on the Internet.
Step 3: Open a marketing company
Business activities are regulated by the Singapore Companies Act. This translates into the fact that you’re required to comply with the amendments introduced by the Companies Act. There is a way that you can make things easier for you. You can sign up for a company tarter pack on https://www.companyregistrationinsingapore.com.sg/. What you get in return is help with ACRA name check, company registration, and accounting. You don’t have to do anything basically. The only thing that you’ll have to worry about is your visa situation. In order to do business in Singapore, you have to meet the visa requirements. Did you think that it’s that easy to get into the Lion City? If you did, you were only fooling yourself.