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Singapore is one of the few first-world countries in Asia, with a highly efficient infrastructure, free market economy, stable political environment as well as an attractive tax regime, making it one of the top five nations in the world for setting up business.
At the same time, Singapore has consistently been ranked as the easiest place for setting up a company or business and is one of the most competitive economies worldwide according to key ranking reports by top institutions like the World Bank and the World Economic Forum.
In this book, we will be sharing some pointers on the things to note when considering starting your business in Singapore.
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– Strategic advice to the company’s board of directors
– Virtual Receptionist
– Registered Address
– Leads Qualifications
– Expense Management
Speak with us for a customised solution for your business needs.
Ready to take off and go beyond your borders?
Go to market strategy in multiple Asia Markets
Customised prospection: Looking for potential agents, distributors, imports?
Integrated sales to development program to maximise your business growth in the market
Corporate Tax & Goods & Services Tax (GST Singapore) / VAT
Verti provides advice, tax computation and tax filing on your Corporate (ECI, Form C/CS Form) issues, to ensure adherence to regulations.
If you are a Singaporean, Singapore Permanent Resident or a foreigner who has lived and worked in Singapore for at least 183 days in the tax year, you are required to pay personal taxes on your chargeable income as a tax resident. Non-residents who have lived and worked in Singapore for less than 183 days in the tax year may also be required to pay taxes. The corresponding forms you will have to fill out include:
• Form B1 (individual tax residents)
• Form B (self-employed)
• Form M (non-residents)
Other taxes, that individuals may have to pay, include those imposed on property, rental income, stamp duty, motor vehicles and Central Provident Fund (CPF) contributions.
There are considerations, for businesses to decide if they are contemplating to outsource their accounting work:
1. You will be able to enjoy greater confidentiality, when your internal staff no longer have access to your business’ financial information.
2. Managing less experienced employee, may take away more of your time from your business operations
3. Unproductive internal accounting team, might not be able to catch up with your Company’s growth
4. Your staff turnover rate would affect your business operations
What we provide:
a) ANNUAL STATUTORY ACCOUNTS
• Annual Return
• Corporate Tax
• Compilation of unaudited financial statements
• Coordinating with auditors during annual audit
b) QUARTERLY MANAGEMENT ACCOUNTS
• Review of quarterly accounting
• GST Returns
c) MONTHLY MANAGEMENT ACCOUNTS
• Payroll Accounting
• Monthly Financial Management Reports
• Vendor Invoice Processing
• Employee Expenses Processing
• Bookkeeping Services
Accounting is more than just number crunching. The advantage of having your records up to date allows you to better understand your business, cashflow and strategise how to move forward.
As partner of Xero Accounting, we advocate in cloud accounting, and reduce printing within your accounting needs
A corporate secretary needs to be familiar with the Singapore Companies Act and the various
requirements stipulated by the Accounting and Corporate Regulatory Authority (ACRA) and the Inland Revenue Authority of Singapore (IRAS).
“Great incorporation gives you a great head start for your business!”
As a gateway to Southeast Asia, Singapore continues to be the leading hub for businesses to gain their presence, be it world’s largest multinational corporations or fast-growing start-ups.
Having us to steer you around with Singapore’s rules & regulations would accelerate your success route in this business-friendly city.
a) For Singapore or Permanent Resident
b) For Foreigner Individual (+ VISA/Work permit related matters for key personnel of the Business)
c) For Foreigner Companies
Subsidiary Company + Employment Pass
Subsidiary Company + Nominee Director
Branch Office + Employment Pass
Branch Office + Nominee Agents
Singapore Representative Office Setup