Tips For Registering Your Singaporean Firm
Getting your firm registered as soon as possible can be extremely beneficial in the current Singaporean market. The benefits you can gain by incorporation, such as limited liability, tax concessions and ease in getting loans and financial assistance are too easy to pass up, even if your firm is just a start-up that is still in the process of establishing itself. It also helps that registering a company in Singapore is easy and not that time-consuming. Nevertheless, you may need some clues on how to make the process even easier, especially if you are not familiar with how the registration procedure works.
Choose A Suitable Name
Choosing a name for your new business entity may seem so easy at first, but this all changes once you need to get it approved. It happens quite often that the name you have long thought about is already taken up, forcing you to come with an alternative as quickly as possible. Always go for a unique name, but don’t make it too vague, or else your customers may have a hard time identifying your business from the rest.
Get Your Secretarial Services in Place
Having a company secretary is a major requirement to get your business incorporated in Singapore. You can choose to hire your own secretary or opt to outsource secretarial work to an external firm. Either one works fine: just make sure to have a well-qualified secretary if you hire one yourself, as this is one of the most important positions in your organization. Provide necessary training to help with skill development.
Get to Know the Required Documentation
Before thinking about going forward with the registration procedure, take some time to go through the documentation you need to fill and hand over in order to complete your Register Company in Singapore procedure. It is better to get some help and assistance from a relevant consultation firm, particularly if you don’t understand some points in the documents or if you need further information regarding some aspects of the registration procedure.
Make Sure all Conditions are Met
In order to get your business incorporated, you will need to show proof of having the necessary number of shareholders, directors and other necessities such as a valid office address. Make sure to go through all of them once again when filling your applications: one mistake can easily delay your incorporation procedure, which is not something you would like to happen once you have come this far.
Ensure Compliance at All Times
Incorporating a business is just the first step you have to take to get your business going. Once registration is over, you will need to take some time to take a look at your taxation and annual bill payments. Since all of this can take some time to get used to, try to get some assistance from a professional service provider in the areas of auditing, accounting and taxes.