Overseas Global Business Expansion

Business Expansion in Singapore

Benefits of Business Expansion in Singapore

• Singapore is a central and strategic location in Southeast Asia, enabling access to other Asian markets.
• Consistently recognised as one of the top countries that is the best place to do business. In 2020, Singapore was ranked 2nd in Ease of Doing Business
• Stable political environment
• Favourable tax conditions provided for businesses
• Access to skilled local talents

Overview of setting up a company in Singapore

Average Time: Incorporation takes 1-2 days. Applying for relevant license may take up to a few days or several weeks, depending on license type and business complexity.

Average Costs: Incorporating a company costs around SGD 1,000-2,000, excluding other expenses such as government’s fees and tax registrations. The cost of expanding a business into Singapore depends on several factors such as company type and legal fees.

Registering your company in Singapore

Understand the types of foreign company registrations in Singapore

1. Transfer of Registration (Re-domiciliation)
   Cease of overseas business, move business to Singapore permanently
2. Setting up a representative office
   No legal status therefore not able to earn profit
3. Incorporating a subsidiary / Local company
   One director and shareholder (EP holder with Singpass or Local Citizen, appoint company secretary after 6 months)
4. Registering as a Foreign company
   1 local authorised representative managing
   Corporate services (Company secretary est; $300/year)

Registration Process with ACRA (Accounting and Corporate Regulatory Authority)

• Company Name Registration Fee
• ACRA Application Fee
• Minimum Requirements
  1. Director
  2. Company Secretary
  3. Office Address – Office / Residential

Incorporation Checklist

• Company Name
• Business Activities
• Preferred Financial Year End (FYE)
• Registered Address
• Paid Up Capital
• Assign a shareholder (do not hold assets including debts) -10% shares
• Assign and requirements for a director

Business Commencement

Growth Opportunities and Potential

Incentives and Grants Available

Singaporean Government provides various resources to support companies in their growth. There are various types of grants available by Enterprise Singapore. Enterprise Singapore is the government agency that provides most of the Startups and SME grants. Click the links below to find out about some of the business grants available.

Find out the entire list of grants available for all sectors and specific sectors here.

Get in touch to explore your business expansion strategy into Singapore

Business Expansion in Vietnam

Benefits of business expansion in Vietnam

• Strategic Location in ASEAN
• Vietnam market size/growth potential (69.3% in 2021)
• Vietnam has a stable socio-political situation
• Vietnam is well-known for its lower labour cost. It is said that the average cost to hire a person at a factory in Vietnam is one-third of the cost in China.
• On-site purchasing rate is 37.4%, and this rate increases during COVID.
• Open business environment (By the end of 2019, more than 30,000 FDI projects have chosen Vietnam as their headquarters, with a total registered capital of about 362 billion USD; Many trade agreements have been signed such as EVFTA (EVFTA will eliminate nearly 99% of customs duties between the EU and Vietnam), CPTPP, etc)
• Have advantages in processing and manufacturing industries (In 2022, the processing and manufacturing industry leads the way with total foreign investment in Vietnam, reaching more than 16.8 billion USD, accounting for 60.6% of total registered investment capital.)

Overview of setting up a company in Vietnam

Average Time: Incorporation may take 1-2 months. The duration depends on business activities and availability of required documents. Timelines for obtaining relevant licences may vary depending on the nature of business and the type of licence required. It can take from a few weeks to several months if additional approvals from authorities are required.

Average Costs: Incorporating a company costs around 5M – 20M VDN. This includes certificate acquisition, service fees such as notarization, business seal, and purchasing a digital signature.

Registering your company in Vietnam

Foreign investors wanting to register their business in Vietnam must do the following:

1. Apply for the Investment Registration Certificate (IRC) issued by Vietnam’s Department of Planning and Investment: Vietnam’s Department of Planning and Investment
2. Apply for the Enterprise Registration Certificate (ERC) issued by Business Registration Office – Department of Planning and Investment: Business Registration Office – Department of Planning and Investment

Understand the types of company registrations in Vietnam

1. Limited Liability Company
2. Joint Stock Company
3. Partnerships
4. Branch
5. Representative Office

Registration Process

Incorporation Checklist

• Company Name
• Business Activities and scope of activities in Vietnam (for instance: export processing, nationwide distribution)
• Desired operating time
• Type of company (Joint Stock Company or Limited Liability Company)
• Preferred Financial Year End (FYE) for the last 2 years
• Information related to the parent company (capital contribution ratio, nationality)
• Type of Address (office, factory, warehouse)
• Registered Address
• Paid Up Capital (total capital and disbursement schedule) 
• Legal representative in Vietnam (list of shareholders and Directors)
• Other questions asked

Business Commencement

Office Spaces

Office

• Batdongsan
• Saigon Office
• Maison Office

Co-working

• Coworker
• i-share
• Replus Shared Office

Virtual

• the Hive
• Maison Office

Growth Opportunities and Potential

Incentives and Grants Available

There are various incentivised business sectors available. Preferential CIT rates of 10%, 15%, and 17% are available where certain criteria are met.

Get in touch to explore your business expansion strategy into Vietnam

Business Expansion in Japan

Benefits of business expansion in Japan

• Business Opportunities: Japan has rich business opportunities for both investment management and asset raising activities.
• Favourable Living Conditions: Japan’s comfortable living environment guarantees residents a high quality of life.
• Government Incentives: The Japanese government firmly supports and promotes the “International Financial Center Initiative” as one of its most important measures for stimulating long term economic growth.
• Regulatory Sandbox: The Government of Japan (GOJ) has introduced a sandbox approach that seeks to help new ideas develop in a live market. This enables businesses to conduct a demonstration that is approved by Competent Ministers, which may appropriately lead to regulatory reforms.

Overview of setting up a company in Japan

Understand the types of company registrations in Vietnam

1. Representative
2. Branch
3. Subsidiary
   1. Kabushiki Kaisha (KK)
   2. Godo-Kaisha (GK)

Registration Process

Overview

• Decide Company Type
• Decide office location
• Complete the articles of incorporation (including getting notarised)
• Create company seal
• Deposit the paid up capital
• Notify and submit documents to the respective tax, labour, pension offices

Depending on business activity, companies may need to apply for licence or approval from other governmental agencies. Read more here.