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Checklist for Company Registration in Singapore

Company Registration in Singapore is a hassle-free process. Singapore is one of the best places in the world to carry out business. Here is a list of things you require to register your company in Singapore. To make sure that the registration goes smoothly, prepare all the required documents beforehand to avoid any inconvenience.

1) Eligibility Requirements: The most common business entity in Singapore is a Private Limited Company. These companies require at least one shareholder and one Company Director. The minimum age required to be a Company Director in Singapore is 18 years. Further, the person appointed as a Company Director should not have any history of fraud, bankruptcy or business malpractice. It is also possible that the Company Director serves as the shareholder of the company. The companies that are owned by foreigners in Singapore must have a local nominee Director to fulfill the statutory requirement of having at least one local person as the Company’s Director.

2) Business Name: Choosing a correct business name is very important as it reflects the vision as well as the mission of the brand. While registering your company in Singapore make sure that you get your business name registered prior by ACRA. Your business name should not be identical to another business name, should not be reserved by any other business entity and should not be obscene. It is advisable to have one alternative business name in case the first one is rejected by ACRA.

3) SSIC Code: SSIC is a business classification process known as Singapore Standard Industry Classification. Every business activity in Singapore has an SSIC code. The online search engine of ACRA gives your business the right SSIC Code.

4) Registered Address of Office: Every business in Singapore should have a registered local office address.it is one of the most important requirements before company registration in Singapore . It is necessary to have a local business address to deliver parcels and notices at your physical office. The same address will be used in all your business memos and parcels. Your office should be accessible to people during office hours. Singapore also allows using the residential address as the office address.

5) Permits and Licenses: There are certain businesses registration in Singapore that require permits and licenses by the government to work in the country. For example educational institutions and childcare centers. The cost of the permit depends on the business activity. You can request for the license or permit by submitting an e-application via OLBS (Online Business Licensing Service). You can also apply directly to the agency to get your license.

6) Seek Help of a Service Provider: All the above documents are necessary for business registration in Singapore. It is totally up to you if you want to seek the help of professional accounting services in Singapore to do the work for you or you want to take the matter in your own hands. Hiring a professional service provider is beneficial when you are not sure about certain things and documents.

Seek Professional Help To Register Your Company In Singapore

Singapore is a country with strict rules and regulations. They give much emphasis on company establishment and related documentation and legal works. Business personals from around the world keep an eye on Singapore as one of the potential business places in the world. However, forming a company or business registration Singapore is not an easy task; it needs expert intervention. If you are someone who belongs to other nationalities, then the legal formalities can be even vast than the citizens of Singapore.

Here are a few points which are mentioned by the Singapore law authorities while registering a company or business in Singapore:

Decide the company name that needs to be registered
Preparation of articles of incorporation
Establishment of initial office address that has been registered
Establishment of the premier board of directors
Filing of all necessary forms and payment of fees
Processing the application

This may look like a lot of work while you are starting with a new company or registering your established company in Singapore. Legal formalities and paper works will take much of your time while you will be left with no time for your core business. Therefore it is essential to reach out to a legal firm that offers such services and can do all the requisites on your behalf.

Here is how a company formation firm can help you with your company registration in Singapore.

Completion of company incorporation service on time- While you seek help from one of the renowned business establishment companies in Singapore, you can rest assured about the process completed on time. You will be left with enough time to plan your startup business in Singapore while the company formation service provider does the hard work for you.

Service from highly experienced staff- Most of the firms which provide such service in Singapore possess a highly experienced team who have gathered knowledge over their extensive years of experience. Therefore if your company registration Singapore faces any issue, the practitioners of the firm will help sort the problem for you.

Information about every happening of your application- The company formation firms keep in-depth knowledge about their work and, therefore, are ready for every situation at hand. Their highly professional approach will keep you well informed about every happening from start to end.

Payment of fees related to company registration- Company registration in Singapore attracts payment of several fees, which relates government bodies, law institutions, etc. Such service providing companies in Singapore will help you to settle all the payments associated with your company registration.

Customer support- A well-reputed company formation firm will always look after to extended customer support. Even when the process of company registration is over, they will extend their support to their valued clients for further help.

A few outsourcing firms also help with the initial running of a company. They provide departmental support, which is necessary for running a company such as bookkeeping, accounting, human resource management, Tax, Company secretary, etc. So, get in contact with a company formation firm today to register your business without a hassle.

The Indispensable Role of Company Secretary

A company secretary looks after the overall smooth functioning of the company’s everyday proceedings in abidance with government law. He/she is the central or chief administrator of the enterprise.

The key to success in any business enterprise is hiring hard-working and efficient staff. When you have professional people looking after the main business activities, then the business is sure to prosper. While running a company or firm in Singapore, the company secretary post calls for highly qualified and experienced candidates. Whether you are a small start-up company or a large firm wanting to penetrate the Asian market, hiring corporate secretarial services in Singapore will make a huge impact on your business.

Why is a Company Secretary needed?

Company secretaries are responsible for managing and handling all the sundry administrative duties of companies. If you appoint a person in this prime position, he/she has to act responsible for the company and see that its regulatory obligations are completed within a specific time-frame. Failure to hire or appoint a company secretary can create issues for your company. Therefore, it is crucial that you hire a good and reliable individual while creating a company in Singapore in compliance with the Singapore Companies Act. This rule requires you as the chairman of the company to fill the position within 6 months of the incorporation period.

Bookkeeping Services in Singapore

Similarly, a company bookkeeper ensures that every financial dealing is being recorded in the company’s account books and they tally perfectly with the financial accounts on a monthly basis. Bookkeepers also assist in making financial statements and other financial reports. Bookkeeping services in Singapore are necessary if your company is registered in Singapore. You need to show proper and accurate books of accounts while submitting them to IRAS and ACRA boards.

If you want to pick a specialist team including best company secretary services and accounting services in Singapore, then always approach reputed financial accounting firms that offer qualified, experienced and certified candidates for your perusal. Request for an affordable service fee and the promise of superior financial management. Even a local firm can offer you company secretarial plus accounting services in Singapore.

Accounting Services In Singapore

If you are looking for the best accounting services in Singapore, then you have arrived at the right place. At Ace Financial Accounting Pte Ltd., we provide a myriad of services that are developed specifically for you. Each of our employees and staff has years of experience and professional knowledge through which they can guide you with the best one-stop solutions for corporate secretarial services in Singapore. Moreover, we have been in the industry for many years, which has helped us expand our work capacity to many local and foreign entrepreneurs and investors. We not only pile heaps of papers, but we also provide the best possible solutions so that our clients don’t have to face any uncomfortable situations.

When you come on board with us, we assign one of our representatives to work on your case. They help gather various necessary points by doing research, which can later be used to streamline your issues. Not only we excel in providing accounting services, but we also offer corporate secretarial services, Singapore Company Registration, Nominee Director Services, and Bookkeeping services in Singapore. However, here, a question may arise that why would one choose us? The answer is quite simple as we provide case-specific solutions and also value our customers’ opinions. Furthermore, as our staff has the required qualification, we never charge any hidden charges as workforce and training expenses. Thus, you can avail the best of both the worlds while your budget doesn’t cross your estimated limit.

When you decide to sign up for our services, we assign professional chartered accountants, Tax agents, corporate secretaries, Resource managers, and other administrative officers to help you with your case. Our professionals also work to reduce the capital expenses of the company by deducing effective measures. Moreover, with our not so expensive packages, you can stay worry-free and not get a surprise in your monthly bills. We also never charge our customers consultation fees before you decide to invest in our accounting services Singapore. So, what are you waiting for? Join us today and give the necessary kickback to your accounting and finance company while availing huge deals and discounts with us.