Singapore Frequently asked questions
8 minute read
Singapore – Frequently asked questions: Incorporation
How do I incorporate my business in Singapore?
When incorporating your company in sunny Singapore, it is as easy as it gets! To begin, you are advised to choose your business structure, register your company with ACRA and set up your corporate bank account. Through Sleek, we can assist you when it comes to these requirements.
There are other factors that are involved such as – the number of directors, registered address, number of shareholders, appointing a corporate secretary, auditor and more. To have an in-depth dive into this whole process, you can read our article: Ultimate guide: how to register a company in Singapore.
Can a foreigner start a business in Singapore?
Yes! With the amazing tax benefits, friendly government policies, centralised location and easily incorporation process, Singapore is one of the top country in Asia when it comes to entrepreneurs choosing it as their location to open or expand their business.
To avoid any hassle or uncertainty, foreigners are advised to hire a corporate secretary firm like Sleek, who can help them with the whole incorporation process. At Sleek, we also provide services like nominee director and registered address.
How do I check if a company is registered in Singapore?
It is super easy to check whether or not a company is registered in Singapore. You would first have to go to ACRA’s search platform and type in the company name that you would like to check. Right after that, if the company is registered, you will get the company’s information that would include – company name, address, Unique Entity Number (UEN) and more.
Frequently asked questions: Company Secretary
What is a corporate secretary?
A corporate secretary, or company secretary, is an officer responsible for looking after the administrative work of a company efficiently. Usually with qualifications, he or she is tasked with keeping the operations in accordance with the statutory requirements and regulations in Singapore. It is also the corporate secretary’s responsibility to manage the company’s compliance and act as a mediator between shareholders and directors.
At Sleek we focus on assisting entrepreneurs with mandatory requirements in Singapore by being their appointed corporate secretary and providing corporate secretarial services. With specific services such as company directors/shareholder appointment, resignation/board meetings, compliance duties and filing annual returns, our company secretary in Singapore helps so entrepreneurs can fully focus on their business and growing it, without having to worry about the ongoing compliance of the company. Talk to us to find out more or register today.
How to appoint a company secretary?
At Sleek we provide effortless company secretary Singapore services where we can handle all of your requirements like – ensuring compliance with the company’s Constitution, AGM, annual returns, keeping and maintaining the statutory registers of the company (according to the Singaporean law), supervising the issue on the allotment of shares, capital meetings, entrepass and restructuring duties.
Sleek was made by entrepreneurs who were sick of second-rate company secretaries. If you’re interested in a corporate secretarial services company that is transparent, efficient, and innovative, get in touch.
Why outsource company secretarial services?
Outsourcing your company’s secretarial duties is a great way to save time and money. Especially for foreign entrepreneurs and non-permanent residents living outside of Singapore. The process of registering and up-keeping of a company in Singapore can be challenging and time consuming. The role of company secretary is extremely important. Sleek’s services can help statutory registers company and maintain companies and fulfill the mandatory law to ensure that the company under the ACRA while saving cost on headcount and potential local office address.
What is company secretarial services?
A company secretary acts as the backbone every company when it comes to keeping up with legal compliance and proper use in Singapore. With their extensive knowledge about the internal governance of the company and the associated regulations in Singapore, Company secretaries services are often relied upon for advice and solutions for example if there is an internal conflict between stakeholders & directors, a corporate secretary will often step in to mediate. Company secretary has the important job to ensure that the company is compliant.
As it is compulsory that every company must appoint a corporate secretary (according to the Singaporean law), the role may also be involved in responsibilities and obligations such as taxes, accounting records. Talk to us to find out more! We are happy to assist you with any queries from general corporate secretarial queries to transferring your existing company secretary to us!
How to switch to Sleek’s company secretary services?
A firm must appoint a company secretary. It is not uncommon to change company secretary, and the process is simple. Before leaving your current service provider and moving to Sleek, you need first get in touch with us to carry out a series of KYC (Know Your Customer) process. After the approval, we will require you to notify you current service provider of the determination statement for records. Switch today for a seamless transfers experience with Sleek!
Frequently asked questions: Accounting
How much does accounting services cost?
Compared to most traditional accounting firms, our prices are transparent from the start without any hidden costs along the way. Our accounting packages for pte ltd start from as cheap as S$100/per month. At Sleek, our staff and accountants with professional training focus on helping entrepreneurs and pte ltd business owners all over the world in the most cost-saving and efficient way possible. Accounting can be a hassle so this is why we step in and take away the complicated process of accounting, tax and filing so our clients can fully focus on growing their business.
How to outsource accounting services in Singapore?
At Sleek we can provide you and your pte ltd with efficient and transparent accounting and tax submission services! Through outsourced accounting services like Sleek, you can focus entirely on your business matters as our staff will handle a menu of mandatory requirements during financial year like income statement, investment, maintenance, income tax return filing, annual return filing address and more.
We have a fully automated and paperless financial system. We have a team of accountants at Sleek who have years of professional experience with analysis and generating reports.
What is included in the accounting services?
Traditional accounting firms and accounting services in Singapore refers to the process of summarising, analysing cash flow and interpreting numbers, and financial transactions that were classified in the ledger account. Other services for your pte ltd per month include the process of identifying, measuring, and recording financial transactions daily and in a consistent manner.
If you’re a pte ltd business owner, knowing how to address the difference between accounting services Singapore (compared to the rest of the world) can definitely help you understand the key roles the two processes and reports have in growing your company through daily work.
I would like to use Sleek’s outsourced accounting services but my accounts are messy, what can I expect?
If your pte ldt money and accounts are messy, then during on-boarding our accounting staff will need to address it and do an initial accounting review, using accounting softwares such as Xero, in order to help you identify any issues and to propose the best corrective measures. This process is known as a ‘Reconstruction of Accounts’ and is necessary basis to ensure that when our clients join Sleek your business and money accounts are in a position which is in accordance with the Accounting Standards of Singapore.