Many foreign investors who want to open companies often struggle whether to choose Europe or Asia when going through their options. There is no doubt that are significant advantages for establishing advantages on each continent, but one must take into account the specific of the business they want to set up. From this point of view, the article below will make a brief comparison in terms of company formation between Singapore and Denmark. Why? Because these are both small countries which even if located at opposite sides of the world are representative for their continents.
We would also like to emphasize that if you need company registration services in Singapore, you can rely on us.
Why Singapore against Denmark?
Frist of all, because they are both small countries as mentioned above and nowadays many foreign entrepreneurs are seeking for not that large countries. Also, both Singapore and Denmark have good financial and legal standings and are two of the safest countries to do business in.
When compared in terms of company registration, Singapore and Denmark are quite different. First of all, one should not neglect the fact that Singapore ranked among the first countries in the world in terms of economic freedom and ease of doing business, while Denmark, even if not far behind, scored lower the city-state which should be taken into account when opening a company.
Also, Singapore outranks Denmark in terms of company formation procedures. Our local agents can assist foreign investors seeking to open a company in Singapore.
Company registration: Singapore vs. Denmark
In both Singapore and Denmark, the most appreciated structure used to establish a business is the limited liability company. However, the government does not require a minimum share capital for opening a Singapore company, while in Denmark one must deposit at least 50,000 DKK (approximately 7,000 USD).
When it comes to the actual company formation process, Singapore and Denmark provide pretty much for the same regulations:
- – in Singapore, one can reserve the name and file the statutory documents in the same day, while in Denmark the first stage will consist in choosing a reserving a name for the company;
- – the second step in Demark consists in depositing the required share capital, a step also necessary in Singapore but without a minimum amount required;
- – the third step in Denmark is to register the company with the Danish Business Authority – the equivalent of ACRA in Singapore;
- – the fourth step for both countries consists in the registration for social insurance and contributions.
Foreign investors who would like to open a company in Singapore, can rely on our company formation consultants if they want to start a business in this country. You can also contact us for information on the available types of structures.