Drawing-up your own business in Singapore? Exquisite choice! Singapore is one of Asia's most bustling business hubs for company formation, an island ripe with opportunity for all who come seeking for it. Our team at UPVUE asserts you the guidance with the foremost ways to register your start-up:
When you're ready to proceed we invite you to follow the below 5 easy steps. We will then work with you to have the company incorporated within one working day or even few hours (Provided all KYC & incorporation documents requested are in order and the application of company name does not need any approval from the relevant authorities).
We also proactively advise on best tax strategies. Tax calculations are vitally important to your business, not only for compliance but also to minimize your tax bill.
We will get your company registered, advice you on the things to take note after incorporation, and help open a bank account online!
Company Incorporation + Unlimited Corporate Secretary
Not included: Compliance Package - Accounting & Taxation starting from $1,200/year
Incorporation is the legal process used to form a corporate entity or company. A corporation is a separate legal entity from its owners (shareholders).
This part of the process can take less than an hour unless you want to use special words (like bank, finance, law, media) that need special approval. In that case, it might take a few days.
Otherwise, upon receipt of all signed incorporation documents and your IC or passport copy with proof of address documents, your company can be incorporated in less than 1 hour!
Some of the businesses are controlled by government authorities in the country. Therefore, you will need to obtain approval from relevant government authorities and provide them to start your business. For example, you will need to have a government-approved permit to set up a retail business, wholesale business, import business, childcare center, private school, money lending business, financial advisory service, liquor distributor business, travel agency or a video company.
You will need to have a registered address for the business. In addition to that, you need to make sure that your business is open to the public at least for three hours during weekdays.
You should obtain a registration number for your business from ACRA. It should be on all the invoices, letterheads, bills and other official documents you print.
If your business is engaged with imports and exports, you will need to have custom registration as well. To do that, you should register the business with Singapore Customers and get a CR number.
Goods and Services Tax, which is also known as GST tax is applied to all the goods and services within the country. You will also need to pay this tax for the goods and services that are imported into the country and that are exported out of the company. All the businesses in Singapore to sign up for GST. You can do it voluntarily as well.
Central Provident Fund, which is also known as CPF is the pension fund scheme, where both employee and employer will contribute a specific percentage of the monthly salary. An employer must contribute towards CPF. On the other hand, employees who earn over $50 per month should contribute to it as well.