What can a Singapore Company Registration Agency Do for You?
By: bryanwong | Posted: 11th April 2011
As per the Singapore Companies Act, it is mandatory for all foreign companies and entrepreneurs to utilize the services of a firm based in Singapore that provides company registration services if they wish to incorporate a company in the country. However, a Singapore company registration agency usually provides much more than simply foreign company formation services. Most of these agencies provide other services which help the foreign companies meet the ongoing compliance requirements in Singapore. Some of the services that a Singapore company setup agency can provide apart from business registration are as follows:
1) Nominee Director Services: All companies based in Singapore must have at least one director who is a local resident. It is not always possible for a foreign owner to act as the local director as well especially if they are not currently living in the country. In such cases, you need to opt for a nominee director service where a director will be appointed who will act as the local resident director. Once the foreign owner has relocated to Singapore or has someone else in place who can act as the local director, you can stop utilizing the nominee director service.
2) Company Secretary: Again as per the Companies Act in Singapore, all incorporated businesses in the country must appoint a company secretary. The company secretary is an important member of the organization as they are responsible for many of the ongoing compliance requirements of Singapore companies. A Singapore company registration agency can provide company secretary services as well to all foreign owned businesses in Singapore.
3) Application for appropriate visas: If the foreign owned company needs any of their staff to relocate to Singapore including the company director or shareholders, they need to apply for the appropriate work pass for each member of the company. They can apply for the entrepreneur pass for company owners and employment pass for company employees. They would also need to apply for the dependent pass for the spouse and children below the age of eighteen of their staff members. Your incorporation services firm can help you with the application for each type of pass and ensure you apply for the appropriate pass depending upon your situation.
4) Accounting and Financial Services: The top incorporation services companies based in Singapore offer accounting and financial services as well including tax planning. This is an important service as maintaining proper books of accounts, declaring taxable revenue and paying taxes on time is an essential part of the ongoing compliance requirements in Singapore. Services of a well experienced firm providing accounting and financial services is a must for all companies based in the country.
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Bryan Wong is a business analyst in the Asia-Pacific region and in his free time writes business articles. In this article, Bryan talks about Singapore company registration agency and Singapore corporate secretarial services.
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Tags: entrepreneur, shareholders, visas, living in the country, business registration, compliance requirements, owned company, company director, singapore company, employment pass, singapore companies, resident director