How to Open a Trading Company in Singapore?
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Requirements to Set up a Trading Company
Key Updates Trading Companies in Singapore
FAQs
Start by registering your business with the Accounting and Corporate Regulatory Authority (ACRA).
It depends on your trading activities; certain products necessitate special permits or licences.
Typically, incorporation takes 1 to 3 business days once all documents are submitted.
Register the company with ACRA, open a corporate bank account, and obtain licenses. Set up accounting systems, hire staff, and meet all legal requirements.
You’ll need company name approval, identification documents of directors and shareholders, and a registered business address.
Typically, incorporation takes 1 to 3 business days once all documents are submitted.
Yes, foreigners are permitted to own 100% of a company, but a local resident director is necessary.
Yes, if you engage in import or export activities, customs registration is required.
Navigating regulatory requirements, obtaining permits, and ensuring compliance can be complicated without expert guidance.
You must register for GST if your company’s annual turnover exceeds S$1 million. Voluntary registration is also possible for smaller businesses.
Trading companies must comply with Singapore Financial Reporting Standards (SFRS). SFRS largely aligns with IFRS but includes some local variations.
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