Entrepreneurs are often excited about the idea of setting up a new company, but the detailed formalities and complicated procedures can be demotivating.
Certainly, starting a business involves complex processes and time-consuming details, which is why 3E Accounting has taken this responsibility upon their shoulders. 3E Accounting provides efficient and cost-effective ways of how to set up a company in Singapore.
What is the Singapore Companies Act?
The Singapore Companies Act provides the legal guidelines that need to be fulfilled for a new company to be set up. If you’re too looking to start a company in Singapore or relocate one to Singapore, then the registration must be as a limited liability company.
What are the things you need to do before coming to 3E Accounting?
3E Accounting is determined to cater to all of your business needs. However, before your company in Singapore can be registered, you need to provide specific details. Such as, the name of the company must be approved beforehand. Along with that, a registered address, may it be residential or commercial, must be provided. Information provided about the director(s) of the company must comply strictly with the legal guidelines. Such that the director(s) must be of the age of majority and hold Singaporean nationality or a valid employment pass. Further information about the company secretary and shareholders must also be given beforehand.
Setting up a business in Singapore has never been more comfortable with 3E Accounting’s remarkable consultancy. And the fact that the companies in Singapore relish tax exemptions and benefits definitely works in the owner’s favor.
If you are a foreigner looking to set up a company in Singapore, then you mustn’t attempt to self-register. It is especially beneficial for you to hire 3E accounting to cater to all your business needs and more, without you even having to set foot in the premises.
The type of company that you are willing to set up in Singapore could easily be determined by weighing the benefits of each kind.
For instance, a sole proprietorship is a type of company that can be set up at low risk and is ideal for if you’re running low on budget. However, as it does not form a separate entity, the personal assets of the owner are at risk.
If you’re looking to set up a professional body of business, then Limited Liability Partnership may be your cup of tea. At a low set up cost, your business is identified as a separate legal entity. It is especially beneficial for the partners involved as they’re not personally held liable and are taxed at a personal income tax rate.
Lastly, if the intention is of setting up a business that is likely to spike in growth and would require funding in the future, then a private limited company would be the right choice. Though the cost of set up may not be as low as the others, certain advantages must be considered. Such as, there are tax exemptions on net profit, and the tax charged is at the corporate income tax rate.
What is the process of working with 3E Accounting?
The hefty details of setting up a business in Singapore are surely enough to discourage anyone. However, 3E Accounting ensures your quick set up. At 3E Accounting, your business application can be registered in an hour, and in a day, your business can be incorporated. You need not even worry about filling up the registration form as even that will be done for you. 3E Accounting goes as far as guiding you in choosing a proper company name. After the registrar has accepted the company name, incorporation of documents and the application will begin.
3E Accounting makes sure personally that all the documents are in correct order and requirement.
Finding hidden costs, later on, can be bothersome, which is why 3E Accounting covers all the fees in their Singapore Incorporation Company package.
After the process of registration is completed, you will be provided with a Company Registration number. This number is crucial to your business as it is the official incorporation certificate. Further, when a business profile is created for you, 3E Accounting makes sure that the setup is secure enough for you. But this is not where 3E Accounting and you will part ways. For any further needs, such as setting up an Internet connection, leasing office space, or opening a corporate bank account, 3E Accounting will be there to assist.
3E Accounting hopes to be of your assistance for annual filing, and income tax requirements as your business take off.