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A Post Incorporation Guide to Open up New Wings in Singapore

Posted On : Dec-22-2017 | seen (224) times | Article Word Count : 545 |

After the successful Singapore company formation, there are many things that you may need to do. If “how to register a company in Singapore?” is the question in your mind, then here are some valuable information that you cannot afford to miss.
After the successful Singapore company formation, there are many things that you may need to do. If “how to register a company in Singapore?” is the question in your mind, then here are some valuable information that you cannot afford to miss.

Incorporation Certificates

In the past, the new companies opened up in Singapore are given hard copies of their incorporation certificates. But now, according to the Accounting and Corporate Regulatory Authority, the incorporation certificates should be sent by e-mail. This e-mail must include the registration number, incorporation date and more. Still, if you wish to get a hard copy of your incorporation certificate, you can acquire it by submitting a bizfile request. This procedure costs $50 and takes approximately five days to receive.

Company Business Profile

Your business profile should contain the following basic information about your company.

- Name of your company
- Your registration number
- The date of your incorporation
- Your official address
- Shareholders details
- Director’s details
- Principal activities
- Issued / Paid up capital
- Secretary details
- Bank charges
- Name of audit firm you have appointed

The information furnished in your company profile is necessary to create a bank account, acquire business phone lines, property leases and more.

Share Certificates

Once you have incorporated your company in Singapore, it’s your prime duty to issue share certificates under the common seal of your company to the initial subscribers or shareholders of the company. This should be done within two months from the date of share allotment or within a month from the date of transfer of shares.

Company Registration Numbers

Make sure that all your business documents including company letterheads, business letters, and statements of account, invoices, and official notices carry the company registration number

Company Secretary

Within the six months from your date of incorporation, you should appoint a company secretary. The secretary you choose for your concern must be the resident of Singapore and should have the requisite knowledge and experience to discharge the functions of secretary of the company.

Financial Year End

Unlike other countries, you have the flexibility to choose any date as the financial year end of your newly setup company in Singapore. Keeping your financial year end date within 365 days of your incorporation in order to maximize the benefit of your ‘first three years’ income tax exemption.

Requirements for Opening a Bank Account

The following are the essential requirements you need to open a corporate bank account.

- Corporate account opening forms
- A board of directors resolution
- A perfect business profile
- A copy of company’s Memorandum and Articles of Association
- Residential address proof of directors

Customs Registration

If your registered company is dealing with import and export of goods into and from Singapore, then acquiring customs registration is significant. The application must be made by either one of the owners or by the nominee director of the company.

In addition to these, you should also stay updated about the income tax registration process, GST registration and more.

Article Source : http://www.articleseen.com/Article_A Post Incorporation Guide to Open up New Wings in Singapore_321155.aspx

Author Resource :
The author of this article is associated with KC Ha Consulting Pte Ltd for over a decade. In this article, the author explains the steps one should follow post Singapore company formation. Visit https://www.singapore-company-registration.net/ for more information.

Keywords : Singapore company formation, nominee director,

Category : Business : Business

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