Asia and Europe are two of the most important continents on the global trade map. Countries on both of them have their advantages when coming to open companies here. Among these countries, Germany stands out in Europe as one of the most prolific states in the world in terms of economy. At the opposite side, Singapore only known an impressive economic development during the last few decades. Even so, when it comes to company formation, a comparison between Singapore and Germany will help foreign investors to make a choice on the best country to set up their business in.
Company registration in Singapore
When choosing between opening a company in Singapore or Germany, a businessman will want to know how easy a company can be registered there. From this point of view, Singapore is one of the easiest countries to do business in, there to open a company in, as it ranked first for several years in a row in reports issued by prestigious magazines and organizations. One of the greatest advantages is that compared to Germany, one does not need a minimum amount in order to open a Singapore company. Apart from that, the Singapore company formation process can be completed within a few days, making the company operational in a short while.
The company formation steps in Singapore are:
- – drafting the incorporation documents;
- – choosing and reserving a company in name;
- – registering for taxation;
- – making a corporate seal;
- – registering for employment and social insurance.
Our Singapore company formation agents can assist you with the company registration procedure.
Registering a company in Germany
The company registration process in Singapore implies using the services of company formation representatives, while for company registration in Germany this is not mandatory. However, the incorporation procedure could be delayed because the investor must first acquire all the information required in order to have a fully operation business within a matter of days. Apart from that, most types of business forms available for registration in Germany are subject to minimum share capital requirements. The simplest example is the limited liability company which in Singapore can be incorporated without a specific amount, while in Germany the share capital for the same type of company is 12,500 euros.
The company registration process in Germany consists in:
- – choosing a company name;
- – preparing and notarizing the articles of association;
- – depositing the share capital;
- – filing the documentation with the Trade Register;
- – registering the company for employment and insurance purposes;
- – registering with the tax authorities.
If you are interested in doing business in Southeast Asia, you can contact our company registration agents for assistance in exploring new business possibilities and opening a company in Singapore.