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Incorporation Services Faqs

Does an owner need to visit Singapore to incorporate a company?

Not at all! There is no need for you to visit Singapore for this purpose. All you need to do is to send us all required original documents duly signed by you at AccountingService.com.sg. We will incorporate your company for you.

Do I need to visit Singapore to open a bank account?

Yes! You will have to visit Singapore to open a corporate bank account for your company. Even shareholders having majority of shares in their possession and the directors of the company will have to visit Singapore to open similar accounts.

How long does it will take to incorporate a company in Singapore?

We, at AccountingService.com.sg, can do it for you in one day provided that you submit all the required documents to us. Sometime, an application for incorporation of a company needs to be verified by various departments of the Singapore Government. In such a case, incorporation takes more than normal time.

Will you keep us posted about all the compliance matters or annual filling matters in future?

Incorporate your company with AccountingService.com.sg. We use customized software to inform our clients about the compliance matters with due dates and annual filling matters. Software automatically sends emails to directors and the shareholders of the company. We will also maintain records of your financial year end.

Will AccountingService.com.sg assist us with taxation and accounting & book-keeping services?

Yes, AccountingService.com.sg provides business services to its clients. We provide taxation, accounting, and bookkeeping related services to our existing clients. Many of our clients also rely on us for other services such as IT, Software development and website designing etc.

Will there be a contact person from AccountingService.com.sg to assist us?

If you hire AccountingService.com.sg to incorporate your company, you will automatically get a qualified professional assigned to you. This individual will tackle the registration process, handle your queries about incorporation and will also provide future assistance or guidance to you.

How much minimum share capital is needed to incorporate a company in Singapore?

S$1 is all you need as the minimum share capital to incorporate your company in Singapore. Later on, you can increase the amount of capital by depositing money in the corporate bank account. We issue share certificates only after the capital amount is deposited in the bank account.

What are the responsibilities of a local nominee director provided by AccountingService.com.sg?

It is required for each company to have at least one local resident director. AccountingService.com.sg provides services of a local resident director to the newly incorporated companies.

The nominee director provided by AccountingService.com.sg is just a place holder and is there for the purpose of statutory compliance. This individual won’t take any part in any managerial, operational or financial matters of your company.

What are the responsibilities of a company secretary?

It is a must for a newly incorporated company to appoint a company secretary within six months of its incorporation. Company secretary is the one who informs company’s directors and the management about the statutory compliance matters.

This qualified professional maintains statutory registers, issues notice for meeting to members / directors, keep track of all the statutory due dates and communicates them to members / directors for compliance matters. This professional also has the custody of company seal.

If we want to replace local nominee director, what would be the procedure and how long it will take?

Upon receipt of your request for the change of director, AccountingService.com.sg, as your company secretary, will prepare the necessary documents. Naturally, you will have to provide another equally qualified person to work as the local resident director for your company.

Can a foreign entity be 100% shareholder of a Singapore registered company?

Yes! Any foreign corporate company can hold 100% shares of a company incorporated in Singapore. The company must have a local resident director in its employ.

Can a Singapore company hire foreign employees?

Yes! It is only natural that a Singapore incorporated company may need to hire foreign employees. There are different types of work visas available. Allocation of a visa depends on the qualification, experience, salary and the age of the applicant.

Are there any post-incorporation issues that we must attend to before starting our business activities?

  1. Open a corporate bank account
  2. Apply for approvals and licenses if your business needs them.
  3. Apply for work visas if you are hiring foreign employees.
  4. For your local employees, pay CPF.
Please feel free to contact us on +65 6536 0036 or drop in an email at info@accountingservice.com.sg

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