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New company registration in singapore

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This presentation shows you how to form a Singapore new company.

Published in: Business
  • Thanks for sharing this slides for us. If anyone wants to start a business in a Singapore and asking for the procedure of registration, this slides that you shared is very helpful for them and one more thing is the Permanent Residency is the no.1 priority that i know it is very important for starting a business.
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New company registration in singapore

  1. 1. SINGAPORE NEW COMPANY REGISTRATION PROCEDURE B C Shetty & Co, Chartered Accountants
  2. 2. Company Formation Procedure . Promoters Look for location of company Check Name availability All the documents needs to be signed in front of Certified Public Accountant or a solicitor in Singapore.*** Submission of MOA and AOA along with other documents * to ACRA** **ACRA- Accounting and Corporate Regulatory Authority ***To execute outside Singapore, the same should be signed in front of notary of such country •* Directors details along with ID proof and residential proof. One of the Directors should be resident of Singapore • Shareholders details along with ID proof and
  3. 3. Company Formation Procedure – Contd. * Certificate of Incorporation will be obtained after a week Commencement of Business Opening of bank account Appointment of Secretary within Six months of incorporation* *Company Secretary shall be a locally resident individual Board Meeting
  4. 4. Documents Required      Memorandum & Articles of Association of the proposed company Name of proposed Directors along with residential proof and ID proof Name of the shareholders along with residential proof and ID proof Copy of passport and Identity card Paid up capital should be Minimum- One share in any currency Maximum share capital - unlimited
  5. 5. Post Incorporation Compliances     An Annual general meeting is to be conducted within 18 months of Incorporation and subsequently within 15 months from previous AGM Income tax return to be filed before 30th November each year with Inland Revenue Authority of Singapore Accounts are to be filed with ACRA complying with Financial Reporting Standard An audit is mandatory if the turnover of the company is more than S$ 5M and if the company's shares are held by corporate entity
  6. 6. Benefits
  7. 7. Employment Passes  For an Employment Pass, the monthly fixed salary should be at least S$3,000 along with any one of below qualifications: -- Acceptable educational qualifications -- Professional qualifications -- Specialist skills  The application of the Singapore Employment Pass can only be submitted after the incorporation of a company. Person possessing Singapore Employment Pass will be considered as local resident director 
  8. 8. Professional Fees Particulars Amount ($) Cost of Floating of the Company (filing fee, secretarial kit and professional fee) $ 1,400 Nominee Director’s Service $ 725 Local Company registered office address for One year (Maintaining a mail box, receiving all mails) $ 500 Secretarial Charges (preparation of first minutes, bank accounts opening resolution and ACRA annual return filing resolution) $ 645 Filing the return with ACRA $ 500 Preparation of annual accounts with FRS (if audit is not required) $ 1,200 * Where audit is required, audit fee would depend on the volume of work, amount of time to be spent and the degree of risk, skill set and responsibility required to be exercised in the assignment * Budgeted Fee
  9. 9. Thank you Please feel free to Contact Mr. Sathya Hegde BBM,FCA,CPA Partner B C Shetty & Co, Chartered Accountants Mobile :+91 9945179868 Mail Id: sathyahegde@bcshettyco.com

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