Here's more about what substrings are.
While in the past in many jurisdictions it was sufficient to register a legal address, today a company must have:
How much does it cost to set up a sub-establishment in Singapore?
Understanding the importance of establishing a sub-establishment, the ideal option would be to open a full-fledged office in Singapore with the hiring of employees and conducting economic activities in Singapore (providing services to the local market, local customers and suppliers).
Depending on the scale of the company (size and location of the office, number and qualifications of employees, etc.), the price for setting up a sub-establishment can vary greatly.
Singapore is one of the most expensive countries in the world, including business expenses - rental of commercial and residential housing, hiring local and foreign employees, cell phone and Internet costs and other expenses.
Below we will briefly talk about the minimum monthly expenses for office rent and employee pay in Singapore:
Office Rental in Singapore - $1,500
The office lease agreement is for a minimum term of 1 year. Commercial property is leased with a contract for a minimum term of 2 years with a mandatory deposit of at least 2 months' rent.
Employee in Singapore - $2,000
For this salary you can hire a young graduate without knowledge of the Russian language and much experience. The salary of more experienced and qualified specialists start at $3,000 per month.
Foreign specialist - $4,400
There are a number of requirements for hiring foreign workers. Depending on the type of visa the employing company will be subject to requirements for the required number of local employees, minimum wage, share capital and others.
Dues for employees - from $200
When hiring local and foreign employees, it is important to consider the requirements for compliance with Singapore labor laws, which include the preparation of monthly payrolls, as well as monthly mandatory contributions to government funds and insurance. The minimum amount is indicated, the actual amount of deductions will depend on the type of visa and the salary of the employee.
Mobile communications, Internet, utilities and other office expenses start at $200
Mobile and internet providers require a minimum contract of 1 year. In case of premature termination, the company must pay all payments due under the contract. The specified minimum amount, the real amount of payment for the Internet, mobile communications and utilities is determined on the basis of individual conditions.
Taking into account market rates, the minimum cost for rent of a small office and maintenance of employees will be *:
Local employee (resident of Singapore):
While in the past in many jurisdictions it was sufficient to register a legal address, today a company must have:
- A physical office in Singapore
- A functioning company website in English, ideally on the local sg domain
- Email, local phone in Singapore to contact customers, partners and government agencies
- Singapore-resident director with relevant professional qualifications; can be company shareholder with work/resident visa
- Employees with real salaries that are paid through local banks.
- The company must also have an economic sub-station in the country:
- Local counterparties (customers and suppliers)
- Local employees with salaries and contributions to statutory funds
- Tax residency status in the country.
- Payment of taxes in the country.
How much does it cost to set up a sub-establishment in Singapore?
Understanding the importance of establishing a sub-establishment, the ideal option would be to open a full-fledged office in Singapore with the hiring of employees and conducting economic activities in Singapore (providing services to the local market, local customers and suppliers).
Depending on the scale of the company (size and location of the office, number and qualifications of employees, etc.), the price for setting up a sub-establishment can vary greatly.
Singapore is one of the most expensive countries in the world, including business expenses - rental of commercial and residential housing, hiring local and foreign employees, cell phone and Internet costs and other expenses.
Below we will briefly talk about the minimum monthly expenses for office rent and employee pay in Singapore:
Office Rental in Singapore - $1,500
The office lease agreement is for a minimum term of 1 year. Commercial property is leased with a contract for a minimum term of 2 years with a mandatory deposit of at least 2 months' rent.
Employee in Singapore - $2,000
For this salary you can hire a young graduate without knowledge of the Russian language and much experience. The salary of more experienced and qualified specialists start at $3,000 per month.
Foreign specialist - $4,400
There are a number of requirements for hiring foreign workers. Depending on the type of visa the employing company will be subject to requirements for the required number of local employees, minimum wage, share capital and others.
Dues for employees - from $200
When hiring local and foreign employees, it is important to consider the requirements for compliance with Singapore labor laws, which include the preparation of monthly payrolls, as well as monthly mandatory contributions to government funds and insurance. The minimum amount is indicated, the actual amount of deductions will depend on the type of visa and the salary of the employee.
Mobile communications, Internet, utilities and other office expenses start at $200
Mobile and internet providers require a minimum contract of 1 year. In case of premature termination, the company must pay all payments due under the contract. The specified minimum amount, the real amount of payment for the Internet, mobile communications and utilities is determined on the basis of individual conditions.
Taking into account market rates, the minimum cost for rent of a small office and maintenance of employees will be *:
Local employee (resident of Singapore):
Foreign Employee:
*- Please keep in mind that the prices quoted are approximate. The actual costs will depend on the size and location of the office, the qualifications and experience of the hired staff, the type of visas of the hired staff and other factors.
We can offer you the following services:
- We can fully support you in setting up a Substance in Singapore in the following cases:
- Are you planning to open a full-fledged office and hire full-time employees
- You can not afford the cost of a full office and staff or you want to "feel" the market without entering into long-term commitments and contracts
- You need to provide proof of substandard company in Singapore for the purpose of providing data to foreign banks
We can offer you the following services:
- Recruitment in Singapore
- Assistance in finding and renting an office
- Office Subletting
- Virtual office
- Part time staff in Singapore
- Search for Business Partners in Singapore
- Company Website in Singapore