creating an it company in singapore
TRANSCRIPT
Creating an IT Company in Singapore
A presentation brought to you by OpenCompanySingapore.com
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The IT Industry in Singapore
• Electronics is one of the industries sustaining Singapore’s economy, significantly contributing to the country’s annual Gross Domestic Product.
• One of the branches of the electronics industry is IT which on an annual basis attracts most of the foreign enterprisers, accounting for 14% of the total investments.
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Why Open an IT Business in Singapore?
• Among the most successful businesses in the Singapore IT industry are the computer parts manufacturing companies, but also Internet service providers have started to develop.
• Opening an IT company in Singapore nowadays has become quite simple due to the simplified company registration and licensing procedures.
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Steps to Open an IT Company in Singapore >>
• The first step in opening an IT company in Singapore is the registration procedure which is the same for all types of companies.
• Once one has selected the appropriate type of business structure, they must apply for the company name approval and reservation with the Accounting and Corporate Regulatory Authority (ACRA) in Singapore.
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>> Steps to Open an IT Company in Singapore
• The second step is for the founders to draft and notarize the IT company’s Memorandum and Articles of Association, appoint a manager, select the company’s office and submit all the relevant documents with ACRA.
• Once ACRA releases the Certificate of Registration, the owners must apply for an Internet service license with the Media Development Authority in Singapore.
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Documents Required to Open a Singapore IT Business
• The documents to be filed in order to open an IT company in Singapore are:
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the statutory documents;
the name and address of the founders;
information about the address of the company;
the names and addresses of the company’s directors and secretary.
• Our company formation agents in Singapore can draft the company’s Memorandum and Articles of Association.
Licensing of IT Companies in Singapore >>
• Depending on the profile of the Singapore IT company, one must apply for an Internet service and content provider license.
• There are several types of licenses an IT company can apply for in Singapore.
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>> Licensing of IT Companies in Singapore
• The four types of an Internet and content provider license are:
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the facilities-based operator or service-based operator license;
the localized and non-localized Internet service resellers offering computer online services license;
the audiotext service providers license;
the Internet content providers license.
Company Formation Services in Singapore
• With a vast experience, our Singapore agents can help foreign investors set up IT companies in the city-state.
• You can also contact us for assistance in obtaining special license for running an IT business in Singapore.
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Thank you for your attention!
For more information, please contact us at:
+ 852 8191 3385
www.opencompanysingapore.com
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