How to Incorporate a Company in Singapore & Why Choose Singapore

[@Pipsum]

As you have told in video that you are remotely working from Vietnam. I just want to ask you are you living there permanently? Will you settle in Vietnam with Singapore business visa?

[@remoterish]

Nothing is permanent including my plans. I might be moving around more in the near future. For now, I'm in Vietnam

[@kamelberlime3532]

Ive used your link!! 🎉

[@remoterish]

Thanks for your support!

[@Akashd7IN]

@@remoterish dont have free incorporation anymore i guess , also its a tab bit expensive for foreigners. how much had you paid for getting your company incorporated?

[@palitha17]

Great comment thanks for sharing ❤❤❤

[@remoterish]

thank you, glad you found this useful

[@jaesunghong6367]

I saw you were using Sleek in the other video. Why did you switch to Osome? Is it better?

[@remoterish]

Yes, I switched to Osome from Sleek. With Sleek, the accounting plans were based on the amount vs volume of transactions With Osome, they have fair pricing based on either the monthly amount or volume and you can choose what you would prefer. I also like the Osome mobile app much more as with Sleek, I had to forward receipts etc to certain email IDs based on how the expenses were made and it did not integrate with Aspire directly (which is the digital banking app that I use). Osome has a direct integration with Aspire which made it much easier for me to manage the accounting.

[@franklin499]

Great video! Just one question. as a foreigner, what bank do you use for Singapore bank? do you have a video on how it works in regards to using in different countries? eg. if im in thailand and would like to have a SG business bank account, do i need to pay sg income tax or my home country's?

[@remoterish]

Hey I use Aspire for banking. I will make a video on Aspire soon. And no you don't have to pay personal income tax on the Singapore company earnings unless you move it to your own Thai account

[@ArslanShahid-r4v]

Can you tell your experience with the bank accounts like Aspire?

[@remoterish]

I'm using Aspire for 2 of my companies and the services are pretty good and the support is excellent even on the free plan. I'll make a detailed video on Aspire too.

[@shahidaslan]

Hi I did the same. I also ended up using Osome.

[@remoterish]

@@shahidaslan Great! I'm also using Wise as it allows me to earn interest on my Singapore company bank balance.

[@amazonfbawarrior6273]

Hi I am a freelancer having a sole proprietorship in India. I provide digital marketing services and most of my client are in USA and Canada. Currently I have to send them manual invoices and they pay me by doing wire transfers manually going to the bank. I want to streamline this and having recurring payments on their cards so I can get payments on time. Do you think I can get those gateways in India or Singapore is the solution? My current monthly revenue is only $2k

[@remoterish]

That's great! I also run a digital marketing agency @mapplinks and we work with D2C ecom clients in the US mostly. For my company, I have setup a bank account using Aspire with my Singapore company, and made the invoices recurring monthly using Xero. I think a similar setup could work for you. All these things are way easier to setup through a SG co & Aspire lets you open a US bank account with your SG incorp

[@amazonfbawarrior6273]

@@remoterish so it’s not possible to setup the similar thing in India? Like getting an international card gateway ?

[@remoterish]

@@amazonfbawarrior6273 It could work however I've faced quite a few changes with changing RBI regulations over time. I also use Wise to invest in the US index through my Singapore company now which is a great way for me to diversify while earning interest on my company balance. The flexibility of creating and pausing credit cards from an app like Aspire is hard to find in any other ecosystem.

[@amazonfbawarrior6273]

@@remoterish I know it’s asking a lot But I have facing issues getting clients for my business. I provide Amazon ppc services. Could you make a video on that Just give me a quick 2-3 step guide on how I can do that. Thanks in Advance

[@ElliottBolton]

Do you outsource all your business accounting to them? Also, are they good with umbrella company set up?

[@remoterish]

Yes, absolutely

[@Karthi_inlovewithlife]

please share about the company’s tax residency considering the place of permanent establishment compliances and your company structure too, thanks

[@remoterish]

Sure

[@sb.7962]

Would you still recommend Sleek bank account (besides the accounting part) for receiving payments through stripe?

[@remoterish]

I don't use the Sleek business account. I use Aspire for managing the account and transactions

[@Robsunrealtravels]

What do you mean free incorp with your link?? The price on their site is $3000. Thats free??

[@remoterish]

Instead of going to their site just go through the landing page and you’ll see the message get free incorporation and 16% off accounting plans you can fill the form there

[@Hissecretobsession1]

Can you use to to apply for payment gateways , and if yes what payment gateway you use to accept payments from your clients ?

[@remoterish]

All international gateways

[@remoterish]

We personally use stripe, PayPal, payoneer, wise

[@Hissecretobsession1]

@@remoterish what do you suggest and use ?

[@remoterish]

Each one has its own use case

[@suliwa670]

So you pay zero tax in Singapore as all your revenues are sourced from outside?

[@remoterish]

I do pay tax in Singapore but it’s not very high

[@spectacularangular637]

Nice video man. $1600 SGD for citizens

[@remoterish]

Yes locals don’t need to hire a nominee Director

[@KnowledgeNew24]

Hi thanks for the video. My clients pay through crypto, can I receive in crypto like binance after company formation in Singapore? And how to withdraw revenue to india, what about taxes on that revenue in india. Thanks.

[@remoterish]

Taxes are complicated I will make separate videos on this to simplify it

[@sujankumar6884]

Sir ,,I am working singapore. Can I start business in Singapore?

[@wizconsultancy]

@sujankumar6884 Establishing a company in Singapore is indeed a strategic move, given its robust business infrastructure. In our 4+ years of experience assisting SMEs with web development and digital marketing, we've observed that a strong online presence is crucial for success. How are you planning to approach your company's digital strategy? For insights, you might find our discussions helpful: youtube.com/@wizconsultancy.

[@remoterish]

I think it should be possible, as long as your employer doesn't have a contract with you that doesn't allow you to incorporate while working with your company

[@GlobexaCanada]

Why NOT Dubai? Tax is far less than Singapore there especially when you want to operate your business remotely.

[@remoterish]

Banking, apps, tech - More better Infra with SG

[@remoterish]

And SG has lot of tax exemptions for most people it'll now work out to be better than Dubai given the new tax in Dubai. And the banking and experience will be way better and modern.

[@enrichmentmillennial753]

I want to open a company but my customer base is mostly in USA especially like ebay which require me to have a physical address and US bank account. But I am local in Singapore so should I still open in Singapore or Wyoming?

[@remoterish]

US could be better suited but Singapore could work too if you can just get a virtual address in US. You can easily get a US bank account with the Singapore company too!

[@Robsunrealtravels]

What is the pricing in osome??

[@remoterish]

You can find the standard pricing on the website, and the discounted accounting plans that include free incorporation through the link in the video description, all the best!

[@StampSEO]

why 17% in Singapore and not 0% freezone in dubai?

[@remoterish]

Dubai is 9% I also have a UAE company but the banking is not as smooth as Singapore

[@StampSEO]

@@remoterishare u a NRI?

[@remoterish]

Anyone can open companies in Singapore and UAE, even if they're a Indian resident or NRI.

[@rohittamker6665]

Bhaiya why one should choose singapore to incorporate a business! Why not dubai? Can you please make a detailed video on this topic. By the way you're doing really good work. Keep shining keep inspiring bhaiya 🤝

[@remoterish]

Hi Rohit the banking in UAE isn’t that easy. I also have a company in UAE but it’s not that usable due to limitations. Singapore is a much more open economy and many digital banks etc support Singapore companies

[@amazonfbawarrior6273]

Why didn’t you choose incorporating in USA like Delaware/wyoming As your clients are based there…

[@remoterish]

Tax reasons. It doesn't matter to them as long as I have a US bank account.

[@amazonfbawarrior6273]

@@remoterish could you explain that more.. as I was looking at Wyoming incorporation and it only costs $300-400 Whereas Singapore company package was around $2000

[@remoterish]

I think that price is for just the incorp and then you need to bear the expenses of accounting and compliance separately. Only place where you can save money in the US incrop is the nominee director which I feel can be expensive in case of SG. But you need to do the math in terms of how much you save on compliance + accounting + tax if you incorp in Wyoming vs SG (per year) and then take a decision

[@amazonfbawarrior6273]

Thanks a lot for the support

[@spectacularangular637]

$3700 for you i’m guessing. for foreigners.

[@remoterish]

Something like that yes

[@MiteshSoni89]

Hi Rishabh, is there a way to reach out to you? I had few queries regarding registering a company in Singapore, and few more tax queries. Would be great if you could help share your email id? Thanks! :) P.S. - I would also be using your link for the Osome registration.

[@remoterish]

Right now I only have a 30 minute consulting call option here topmate.io/rishabhdev

[@AbhigyanAgrawal-d7g]

Hi, what average cost did we incur if i registered a company in songapore?

[@MiteshSoni89]

The link doesn't work! ​@@remoterish

[@remoterish]

@@MiteshSoni89 I have stopped the consulting calls. But happy to answer any questions here

[@remoterish]

@@AbhigyanAgrawal-d7g You can check on the Osome link