Experience Seamless Incorporation Services in Singapore
Forming a company in Singapore can be a breeze. Let us streamline the process for you, making it efficient and straightforward in just a few simple steps.
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Incorporating your Company In Singapore
Why most businesses prefer to be in Singapore?
Setting up a business in Singapore offers numerous advantages due to its strategic location, business-friendly environment, and robust infrastructure. Here are 3 reasons why you should set up in Singapore?
Attractive Tax System
Singapore’s attractive tax system is another significant draw. With a competitive corporate tax rate capped at 17%, businesses can benefit from lower tax burdens. Additionally, various tax incentives and exemptions are available, particularly for businesses in certain industries and sectors. The country also has double taxation treaties with many countries, helping businesses avoid paying taxes on the same income in multiple jurisdictions.
Political Stability
Political stability is a hallmark of Singapore, providing a consistent and stable environment conducive to long-term business planning. The country’s low levels of corruption and strong governance create a trustworthy and predictable setting for businesses, which is essential for building investor confidence and fostering economic growth.
Business-Friendly Environment
The business-friendly environment in Singapore is another compelling reason to set up a business there. The country consistently ranks highly in the World Bank's Ease of Doing Business index due to its streamlined procedures for setting up and running a business. Pro-business policies and a transparent regulatory environment further contribute to an atmosphere where businesses can thrive without excessive bureaucratic hurdles.
Common Challenges in Incorporating a Company in Singapore
In Singapore, Incorporation is generally a straightforward process due to it's business friendly environment. However, here are some of the common challenges that our client faced thus the reason they looked for us.
Compliance with Regulations
Understanding and adhering to Singapore's regulatory requirements can be complex. This includes ensuring compliance with the Companies Act, securing necessary licenses, and fulfilling tax obligations, such as GST registration for businesses exceeding SGD 1 million in revenue. As business owners or solopreneurs, it can be challenging to manage compliance without the necessary expertise and time to stay updated.
Initial Documentation
Preparing and submitting accurate incorporation documents, such as the Memorandum and Articles of Association, can be daunting for first-time business owners. Errors in documentation may lead to delays or rejections. This can result in setbacks for the business, causing frustration and potential financial implications as the company may not be able to commence operations as planned.
Navigating Work Pass Requirements for Foreign Directors
Foreigners intending to act as the local resident director by obtaining an EP face stringent eligibility criteria. The Ministry of Manpower assesses applications based on factors such as salary, qualifications, and company profile. Approval is not guaranteed, and the process can be time-consuming
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Incorporating your Company In Singapore
At JWC, we are ready to assist you. By reviewing your business plans and objectives, we suggest tailored solutions and handle the administrative tasks on your behalf.
Incorporation
From advising on the appropriate business structure to preparing and submitting incorporation documents to ACRA, we have you covered. We offer office addresses for clients without a physical location in Singapore.
Company Secretary
Companies must appoint a company secretary within 6 months of incorporation. JWC will handle this by appointing a qualified secretary to manage records and filings.
Nominee Director
A nominee director is a person designated to meet Singapore's legal mandate that each company must have at least one director who resides locally. At JWC, we handle the appointment of nominee directors for foreign companies.
Bank Account
For foreign clients, the KYC process can be stringent, so we will liaise with our banking partners to ensure our clients receive support from a dedicated account manager.
Work Pass & Payroll
Human Resources activities are crucial for every organization. Our EA license with MOM enables us to apply for work passes for our foreign clients, streamlining the process. We also provide payroll management services, even for a minimum headcount of one.
Others
Based on your industry and needs, we have built a network of partners to support your business. Please let us know if you require any additional services, and we can leverage our partners to offer a comprehensive solution for you.
Here's how we start:
01
Book/Schedule a Consultation Call
We'll learn about your business objectives and needs, then suggest our range of solutions that align with your requirements and budget. Best of all, this call is FREE!
02
Proposal
Based on the insights gathered from the consultation call, we will develop a tailored solution and forward our proposal and quotation for your consideration.
03
Onboarding
After the proposal is accepted, we will initiate the onboarding process and allow our team to handle the tasks. We will also conduct regular reviews and gather feedback to enhance our approach, recognising that each client has unique needs and challenges.
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Frequently Asked Questions
Do I need a Registered Address?
In Singapore, a registered address serves as an essential, officially designated location for both businesses and individuals, primarily used for receiving mail. This address is a crucial requirement for all companies aiming to be registered with the Accounting and Corporate Regulatory Authority (ACRA) in Singapore. It's mandatory for the registered address to be a fixed, physical location within Singapore's boundaries, capable of receiving official governmental correspondence.
Opting for our registered address service offers a wealth of advantages:
- Elevates your company's image, enhancing its legitimacy and professionalism.
- Shields your personal and business addresses from being publicly accessible in records and online.
- Affords you the privacy you desire for your home or business locations.
Do I Need to Be Physically Present to Incorporate a Company?
Forget the commute to our office—your company formation can be accomplished entirely online. Encountering questions along the way? Reach out anytime, and we'll seamlessly navigate you through each step, ensuring you're supported from the comfort of your own home.
Do I Really Need to Appoint a Corporate Secretary?
Absolutely essential and mandated by law, appointing a Company Secretary within six months of your company's incorporation is mandatory. This pivotal position is instrumental in guaranteeing your company complies with all legal and regulatory requirements.
Should you find yourself in need, we offer expert Company Secretary services that you can leverage.
Ready to Incorporate?
Book a complimentary consultation using the button below or enter your information in the form on the right, and our team will respond promptly.