The term corporate consultant is enough to tell you that these people offer various services to the corporate world in Singapore. These agencies are a great help for both local and foreign investors who wish to start their companies in Singapore. Singapore is one of the most favorite investment destinations in the world today. With a strong economy and a stable political government, Singapore ranks on top for the excellent business environment. The government is supportive of private enterprise and offer a lot of benefits.
Starting Your Company In Singapore
One of the main services that these consultants offer is to assist the entrepreneurs in registering their company. Company incorporation is not difficult for those who know the procedure. But for others, it may be a little difficult to understand various aspects. There are different types of companies that can be opened in Singapore. A good consultant is essential to inform new investors about which is best for their kind of business. Each of these types of companies has its benefits.
Registering the name of the company is the first step. consultants can help you in this by doing a name search. You must see whether the name you have chosen for your company is available. Some of the names may already be taken by another company. Some names are not accepted by the authorities for various reasons. Names that are obscene or offensive cannot be used. Names that breach trademark regulations cannot be used. The consultants can find an available name and get it registered.
Requirements For Company Incorporation
There are a few requirements that you need to fulfill when you incorporate a company in Singapore. Some rules guide the appointment of directors, shareholders and company secretary. The new companies must comply with all these requirements to get their company incorporated. You can have as many numbers of directors as you want and they can be either Singaporeans or foreigners. But you must appoint at least one director who is a resident of Singapore.
Every private limited company that is incorporated in Singapore must have a minimum of one shareholder and can have a maximum of 50 shareholders. Singapore allows companies to be fully owned by foreigners or foreign companies. Once the company is registered as a private limited company it is considered as a resident company and can avail of all the tax benefits offered by the government.
Every company must also appoint a company secretary within six months from the date of incorporation. This person must be highly qualified and experienced. The company secretary must also be a resident of Singapore. The person is responsible to lead the company as per the laws of Singapore and as per the company constitution. The role of corporate consultants is very high in helping the business community fulfill these requirements.
Other Services Offered By The Consultants
It is not just that these consultants help you open your company. They are a constant source of support for businesses in Singapore. It is the small and medium businesses in Singapore that are greatly helped by the consultants. These companies are unable to appoint experts in various fields. It will be a huge financial burden for these companies to appoint their people. The consultants provide outsourcing services in many of these jobs. It is also economical for the businesses to get these jobs done by the consultants and they can get expert support.
Accounting and bookkeeping are very important jobs for any company. It is mandatory to maintain proper accounts and books. These jobs require experts to handle them. The consultants employ such experts and offer services to the companies. The advantage is that the companies get the best services at the most affordable prices. These consultants will prepare all the statements that must be submitted to the authorities. All companies must prepare the financial statement as per the guidelines of the ACRA and the consultants prepare the statements as part of their accounting services Singapore. They also perform excellent bookkeeping services.
Taxation is another important job that every company must perform to keep it compliant with the rules. The corporate consultants have tax experts who can help you calculate your tax, prepare the estimated chargeable income and also file the returns. The tax experts will also help the company to reduce the tax burden using legal methods allowed by the government.