5 Steps to Incorporate Your Company in Singapore with Us

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5 Steps to Incorporate Your Company in Singapore with Us

SCS Admin

calendar Jun 24, 2020

5 Steps to Incorporate Your Company in Singapore with Us

After much consideration, from tax incentives to the thriving environment, you have decided on setting up a company in Asia’s financial hub, Singapore. Your next step is to register your company, but how do you do this with us?

Below are 5 crucial steps we will diligently perform to project-manage your Singapore company setup from A to Z. 

Step 1: We clarify the local requirements of setting up your Singapore company

According to ACRA, to be eligible for incorporation, your company must have:

  • At least one (1) Shareholder
  • A minimum initial Paid-up Capital of S$1.  Other major currencies e.g. USD / EUR / HKD / AUD are all available.
  • At least one (1) Company Secretary
  • At least one (1) Resident Director, either Singapore citizen or Singapore permanent resident.
  • A local registered address for company office

With Singapore Corporate Services, we ensure you are comfortable with the best proposed structure of your Singapore company.  Making a final decision to set up your company can be difficult. We want to make sure your company structure effectively meets your needs in all angles: legal, accounting, taxation, and sustainability.

Step 2: With all your pre-requisites set up, we collect due diligence documents from our client to complete the company incorporation documents for your final signature

To complete the process, you must submit documents of:

  • Company name, brief description of business activities
  • Shareholders’ particulars
  • Director(s)’ particulars
  • Registered address
  • Company secretary’s particulars
  • Company constitution

We are a licensed Singapore corporate service provider.  This process is for us to collect basic due diligence documents (e.g. passport, proof of address) from our clients before we can proceed to prepare the legal incorporation documents for your signature.

Although this list is exhaustive, rest assured that we, SCS, will lead you through each step of the way and clear up any confusion you have. With our decades of experience in Singapore company incorporation, our staff have worked with multiple types of companies in different industries. We ensure you will have a smooth process of collating and making sense of your company’s information.

Step 3: We will complete the Singapore company incorporation for you with ease.

Once we’ve gathered all your signed incorporation documents, leave it to us to seamlessly complete the incorporation process. We will complete your company’s registration in just 2 to 3 working days! After that, you will receive from us:

  • Singapore company business profile (known as “bizfile”)
  • Company Constitution (known as “M&AA/ By-Laws”)
  • Share certificate for the shareholder.

“Why would I need these documents?”, you might ask. These are the necessary documents to secure and open your corporate bank account in Singapore, as well as to present to your parent company, supplier, or even customer when necessary. To sum it up, these are the proof that you own a legal company entity in Singapore.

Step 4: We will support you in opening a Corporate bank account

You will need a good corporate bank account with excellent online banking facilities to trade with your customers and supplies worldwide. Hence, it is important for you to pick a corporate bank account package that you are comfortable with. We are here with you the whole way.

We will recommend you the best bank account package depending on your requirements:

  • Initial bank deposit that you can afford
  • Multi-currency bank account
  • Relationship manager (RM) service
  • Your preference of having same bank with your parent company
  • Trade facilities to support import/export

Depending on your needs, we will provide our non-travelling options. With our networks with the best bankers in Singapore, you do not need to fly here to open your corporate bank account.  We will help you in your bank account opening procedure within the comforts of your own home!

Step 5: Get ready to trade and commence your business

With a fully setup corporate bank account for your Singapore company...

Congratulations! You are now ready to trade with worldwide.

We, SCS, will not hesitate to help you handle your post-incorporation operations. If your business falls under certain industry (e.g. import and export of physical goods which pass through Singapore custom), we will handle your business license matters. If you desire, we can also continue to facilitate your Singaporean company’s accounting and tax obligations.  Furthermore, SCS can assist you in your immigration matters (e.g. employment pass application) as well as local hiring plans (e.g. payroll for your local employees, social contribution calculation and submission). We are the approachable, reliable expert you need to transition smoothly into working in Singapore.

Singapore company incorporation is a seemingly easy process but is deceptively hard to complete if you select a wrong angle to start. We, Singapore Corporate Services, are determined to bring your company to new heights with our full suite outsourced corporate services in company formation, accounting, taxation, and audit.  Contact us today at +65 8862 1113 on WhatsApp or enquiry@scs-cpa.com via email to get a free consultation.

Just focus on growing your business, we will handle the rest.

Free 30 mins consultation, No obligation. You ask, We answer!

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