Is the thought of company incorporation giving you sleepless nights? Well, there is no cause for you to hesitate about your
company registration Singapore. Even if you are new to the Singapore marketplace, go ahead, as there are many experienced providers of corporate services to help you manage it.
Company Registration Singapore
Singapore company incorporation is a streamlined process. Still, locals, as well as foreigners, prefer to appoint a registered filing agent for the task.rnThese providers assist and advise you with them every step of the company registration process, documents required, official ACRA fees, Etc. Some of the agents even assist you with post-incorporation activities like opening a corporate bank account with a local bank in Singapore.rnOn the other hand, if you are familiar with the process, you can register your company independently. As a foreign entrepreneur, you will need to hire a reliable agent for the company incorporation.rnChoosing the right corporate services provider to form your company can also help you in future business management. So, cast your net wide, and choose wisely.rnProviders of company incorporation services also offer one-stop corporate services. These include bookkeeping services, accounting services, corporate tax services, corporate secretarial services, GST filing. They render expert assistance to owners to ensure statutory compliance and efficient administration of their business.
Bookkeeping Services
A business’ accounting starts with bookkeeping. During the process, your in-house bookkeeper or provider of bookkeeping services shifts financial documents. They file your bills, invoices and other financial related documents and records them using the latest accounting software.rnDigitising your business’ financial data is helpful as it can be used by an accountant.
Singapore Accounting ServicesrnRegular updating of books of accounts is mandatory for Singapore companies. It also makes you aware of their financial health. However, it takes time and requires skilled human resources. Many companies prefer to hiring accounting services firms for the task.rnExperienced accountants can not only streamline your business annual filing but can also offer you valuable advice. You can use these insights for improving your cash flow, eliminate unnecessary expenses, effective budget allocation and grow your business.rnAccountants use data prepared by the bookkeepers for preparing financial statements like Cash flow, Balance Sheet, Trial Balance, and management reports like accounts payable and receivable reports. These are valuable documents as the owners and managers can use them to make data-driven decisions.
Corporate Secretarial ServicesrnSingapore companies must hire at least one company secretary within six months from their incorporation. Depending on your needs, you can choose to hire a full-time secretary or a provider of corporate secretarial services.rnThese firms generally assign a dedicated secretary to you. As your chief compliance officer, they communicate due dates and compliance-related information to company directors. They also communicate with other stakeholders of your company.rnA company secretary conveys an annual general meeting of the company and communicates the date and venue to the shareholders. They circulate vital information to the shareholders. They see to the preparation of financial accounts of the company and present them in AGM to be reviewed by the shareholders.rnA company secretary liaison and co-operates with the officials of regulating agencies. They have the custody of company registers and other company documents and presents them to the officials when asked. They also keep the ACRA informed about the changes in the company and its officers.rnA secretary communicates with the shareholders and handles the transfer of shares. They also keep an eye on the movement of company shares. They see to it that the company is administered as per its constitution.
Corporate Tax ServicesrnAt the time of hiring an agent for your company registration Singapore, make sure that they also assist with the taxation. Choosing an accounting services company that also offer corporate tax services helps.rnAs they have access to your accounting records, they can easily calculate your corporate income tax. It will simplify your tax compliance. They can also help you with ECI filing, Withholding tax, Vehicle tax, and etc.
GST Filing ServicesrnIf you expect your annual revenue to exceed $1 million within the next 12 months, you will need to register your company for GST. The experts working for your accounting services provider can determine it for you. Then after the GST registration, you can rely on their GST filing services. They can go through your transaction records and prepare a GST report for you which you can then submit to IRAS as per your GST schedule.