Nowadays, it is possible for anyone to open a company everywhere in the world. Asia, Europe or the American continents – with the right amount investors can register a company and start doing business within a short time. However, the “battle” remains between Asia and Europe. Representatives for each continent are Singapore and France. Below we will present a comparison between opening a company in Singapore and registering a business in France.
Our company formation specialists in Singapore can assist foreign investors interested in starting a business in the city-state.
The company registration process in Singapore
Asia and most of all Southeast Asia is main engine of the IT and innovation industry on a global level. Singapore is one of the countries where most computer parts are manufactured and then exported all over the world. On the other hand, France is also representative for the IT industry in Europe, however most of the computers used in this industry come from Singapore. So, when choosing to set up a company, Singapore could be the obvious choice.
This is not the only advantage Singapore holds over France, as the company formation process in Singapore is also simpler than the company formation procedure in France. After preparing the incorporation documents, a foreigner must file them with ACRA which will issue the company’s certificate of registration and business profile based on which the company will obtain other specific licenses required to start operating. The only thing to be taken into consideration is that one will need the assistance of Singapore company formation agents to open a company.
Opening a company in France
Compared to opening a Singapore company, the registration of a company in France will be made up of several steps which must be completed. After preparing the documents of registration, the future business owner must also announce the incorporation of the company in a newspaper acknowledged by the Trade Register, a step which is not required when establishing a company in Singapore.
Another additional step which in Singapore in not required, is that after buying the accounting books, these must be certified by an officer of the Commercial Court in France. The two additional steps will also imply a higher cost of the company registration process in France compared to Singapore.
If you still have doubts on whether starting a business in France or opening a company in Singapore, do not hesitate to contact us for information on the company registration procedure in Singapore. We can also assist with the Singapore company formation process.