After your Singapore incorporation you will want to address your banking needs. There are several important things to know about the Singapore banking industry. This knowledge will make it easier for you to open your corporate bank accounts and personal bank accounts.

Personal Banking
Do not forget that you will need a personal bank account in the country of Singapore. This will make it possible for you to get cash and provide for all of your personal needs like paying bills and shopping.

Residency Requirements

When considering a Singapore business venture, you will have the option of forming a Singapore LLC. This will afford many important benefits to business owners. You may also have several questions about LLC setups and operations. Here are some to consider.

1. What exactly is an LLC?
LLC stands for Limited Liability Company. A limited liability company is a separate entity from the original company on foreign soil. The foreign company is not responsible for the liabilities of the LLC in Singapore and vice versa.

2. Is an LLC in Singapore the best option to choose?

There are certain steps to setup a Singapore company. This may take a little while to accomplish. However, once done, there are things to consider also. You will need to do a few things before you start business in Singapore.

Obtaining Licenses
Your business may require a license before you can get started. Yet, not all businesses will need to have licenses to operate. In fact, the majority of people that consider the setup of a Singapore company will not require a license. However there are a few exceptions. These fall into three different categories:

Dubai has announced plans of introducing a special start-up visa scheme – the EntrePass Visa – in a bid to attract foreign entrepreneurs to the emirate.

Today, entrepreneurs, start-ups and SMEs play a key role in the economic growth of a country – Dubai being no exception. Accounting for more than 98% of registered companies, SMEs have been identified as the lifeline of Dubai’s economy. As a result, Dubai is now adopting a more liberal approach towards its immigration policy in the hope of attracting more foreign entrepreneurial talent to its shores.