Can an Indian set up a company in Singapore?

Yes, Indian citizens can set up a company in Singapore. It is an effortless process and is largely appreciated due to its efficiency in the way things are done. The pro-business environment, bolstered by an effective legal framework and strategic location in Asia, has made Singapore an attractive destination for entrepreneurs all over the world, including from India.

Here are the key steps an Indian entrepreneur would need to follow:

1. Business Structure: The private limited company is the most common form due to its scalability and limited liability. Other forms of business structure commonly employed include a sole proprietorship and a limited liability partnership.
2. Approval of the Name: Before the incorporation of a company, its name needs to be approved by ACRA- Accounting and Corporate Regulatory Authority of Singapore. It needs to be different and must not sound or resemble any other company name present locally or the trademarks.
3. Incorporation: Once the name is approved, you can approach ACRA for registration, and it can take less than one day to materialize provided that all documents are ready. For this process to take place normally, you could consider doing an online BizFile+ filing via the portal.
4. Local Director: By Singapore law, you have to appoint a minimum of one local resident director. For this, a resident can be defined as a Singapore Citizen, Singapore Permanent Resident, EntrePass or Employment Pass holder.
5. Company Secretary: You have to appoint a competent company secretary who is resident in Singapore within six months from the date of your company's incorporation.
6. Share Capital: You have to have at least S$1 paid-up capital to incorporate your company.
7. Registered Address: The company needs to have a registered physical address in Singapore.

After incorporation, you will also need to open a corporate bank account and register your taxes with the IRAS. You may also need to apply for an EntrePass, a work pass for foreign entrepreneurs starting a business in Singapore.

It is worth consulting or hiring a local firm that specializes in helping foreign entrepreneurs through these processes to ensure that all Singaporean laws and regulations are complied with.