Asiabizservices Assists In Singapore Company Registration Requirements 

Some businesses offer services or products requiring prior permits and licenses before they can commence with the operations. Asiabizservices helps each company secure the necessary permit and license.

by Ashley Varghese Thursday, February 03, 2011
After a successful incorporation, companies can start operating in Singapore, except, those which nature requires additional compliance with requirements. As a professional registration firm, Asiabizservices’ expertise extends beyond company registration. Its services encompass post-incorporation and until the company ceases to exist, Asiabizservices has a lot to offer.

Immediately after the incorporation, the company must open a corporate bank account with any of the commercial banks in the city-state. Say Hun, one of Asiabizservices’ business specialists says that most banks in Singapore offer attractive features like multi-currency accounts, internet banking, financial trading, and liberty to transfer funds across the continents.

“Most banks maintain similar requirements like completed corporate accounting opening forms signed by authorized signatories, board of director’s resolution assenting to the opening of bank account, certified true copy of certificate of incorporation, certified true copy of company’s business profile issued by ACRA, certified true copy of company’s MAA, and certified true copy of passport and residential address of directors, signatories, and beneficiary owners.”

Generally, physical presence is a requisite in opening a bank account. In cases where the physical presence is a hindrance, the investors may find another bank that allows absentee opening of bank account. Asiabizservices, too, can help in this.

Moving forward, some businesses offer services or products requiring prior permits and licenses before they can commence with the operations. Asiabizservices helps each company secure the necessary permit and license.

Private academic schools, for instance, need permits such as Urban Redevelopment Authority of Singapore (URA) for planning for facilities, Building and Construction Authority of Singapore (BCA) for renovation of the premises, and Fire Safety Certificate (FSC).

“Some private schools that offer External Degree Programs (EDP) should register for license with Ministry of Education. Each EDP must be registered. Likewise, the curriculum, educational plan for each course specifying learning outcomes, teaching methodology, class schedules, resources, and materials; as well as its teachers and their qualification documents must be registered and submitted.”

Meanwhile, except those which embrace the sole proprietorship, partnership, and limited liability partnership, a business entity ought to keep its financial records through bookkeeping. The financial accounts constitute the basis for annual taxation of the company. It can also be a powerful financial tool to solicit financial aids and draw investments.

Says Say Hun: “Our accountants are abreast of the latest technology used in accounting practice. We ensure accuracy and good timing in every service we deliver. And that includes bookkeeping and payroll management.”

On the other hand, business firms which are not treated as a separate legal entity have personal obligations to Singapore as well. Say Hun resumes her elaboration.

“We also help employees, proprietors, and partners in filing and paying for their personal income tax return. Our team can help prepare the necessary documents to be submitted to IRAS.”

About the Publisher:

Asiabizservices offers one-stop business solutions to companies, particularly, those that are managed and owned by foreign investors. Since its inception, Asiabizservices has successfully helped foreign entrepreneurs form a Singapore company. Among its specializations are Singapore company setup, corporate services, accounting services, nominee services, company registration, whether as a sole proprietorship, private limited, limited liability partnership; offshore company formation, incorporation of foreign companies either as a branch or subsidiary office, accounting services including payroll preparation and more.

Asiabizservices is the leading provider of Singapore Company Incorporation services and has successfully helped thousands of both local and foreign entrepreneurs incorporate a Singapore Company. It also provides chartered secretarial services.

For more information visit:

AsiaBizServices PTE LTD
Address: 120 Telok Ayer Street Singapore 068589
Phone: +6563034614

0    submitted by Ashley Varghese
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