Guide on Opening a Tech Company in Singapore

A presentation brought to you by OpenCompanySingapore.com

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The High-Tech Industry in Singapore >>

• The new century is the high-tech century as technology is now used in every aspect of people’s daily lives.

• Asia is known as the “parent” of the high-tech industry and one of the countries contributing to its development at such a fast pace is Singapore. 

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>> The High-Tech Industry in Singapore

• The Republic gathers thousands of professionals – engineers, venture capitalists, magnates of the technology sector- who together have transformed Singapore into one of the most futuristic countries and cities of the world.

• This is why opening a tech company in Singapore will be one of the best business ventures in the following years.

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The Use of High-Tech Products in Singapore

• The number of exports of high-tech products have grown in Singapore, tech companies becoming some of the largest contributors to the economy.

• Nowadays technology is implemented in industries like: telecommunications;

infrastructure;

electronics;

energy and renewable energy;

healthcare.

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Registering a Tech Company in Singapore >>

• The company registration process of a tech company in Singapore consists in preparing the business’ articles of association in which the activities must be clearly mentioned.

• The best thing about opening a tech company in Singapore is the fact that it can undertake various activities, therefore their growth potential is unlimited.

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>> Registering a Tech Company in Singapore

• It must be noted that companies will also need special permits for importing high-tech products into Singapore.

• It is also recommended to register any new high-tech product with the Intellectual Property Office in the city-state.

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Importing High-Tech Products in Singapore >>

• Depending on the high-tech products a Singapore company wants to import, there are various requirements it must comply with.

• The Singapore Customs Authorities have established clear regulations for those importing high-tech products into the country, among which the necessity of applying for special permits.

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>> Importing High-Tech Products in Singapore

• The company must first register with the Singapore Customs, then register for GST and then apply for the specific license.

• The company must also apply for an IN permit for the import of all high-tech products in Singapore.

• The main document a Singapore company importing high-tech products must produce is the import certificate and delivery verification (ICDV).

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Assistance for High-Tech Companies in Singapore >>

• Most companies in the tech industry in Singapore are startups which have known a rapid development within 2 or 3 years. 

• This is why there is a lot of support for the high-tech industry.

• From venture capital, angel investors and private equity in the private sector to governmental assistance, Singapore tech companies thrive.

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>> Assistance for High-Tech Companies in Singapore

• Among the government’s schemes created with the purpose of assisting technology companies in Singapore are:

the ACE Start-ups Scheme which offers 50,000 SGD to each enterpriser;

the Technology Enterprise Commercialization Scheme which offers 100% coverage of the costs incurred by certain projects;

the iStart ACE Scheme which offers 50% grants for the salaries of professionals.

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Assistance in Opening a Company in Singapore

• Our company formation specialists in Singapore offer information on the registration process of a technology company in the city-state.

• If you want to open a high-tech company and need assistance, please contact our company formation consultants in Singapore.

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Thank you for your attention!

For more information, please contact us at:+ 852 8191 3385office@lawyers-singapore.com

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