Step by Step guide to Singapore company registration

1. Step by Step guide to Singapore company registration

2. There are some required steps to setup a company in Singapore. This may take a little while to accomplish. However, once done, there are things to consider also. You will need to do a few things before you start business in Singapore.

3. Obtaining Licenses • Your business may require a Singapore company registration before you can get started. Yet, not all businesses will need to have licenses to operate. In fact, most people that consider the setup of a Singapore company will not require a license. However, there are a few exceptions. These fall into three different categories: • 1. Some of these licenses will fall under the mandatory or compulsory title. This contains banks, childcare centres, and retail establishments. It also takes into account in travel agencies, lending institutions, and privately-run schools. All those organizations that fall under the heading of wholesalers or importers/exporters, will require a special license.

4. 2. Perhaps you plan on setting up a professional service like legal representation. One needs to apply for an occupational license. This includes professions like physicians and accountants. Also, if you plan to trade in commodities as a business you will need to be licensed. • 3. Certain activities will also require a license or permit. For example, you may wish to build or make improvements to your business property. Perhaps you wish to erect large signs or billboards for advertising. All of these things will require a permit.

5. Bank account • Obtaining a bank account is a very important step to take after your Singapore company registration. It will make it easier to pay bills and receive payments from clients and customers if you have a Singapore bank account. It also helps with things like record keeping. You can have authorized records of transaction. • Marketing Supplies and Materials • Do not overlook about supplies for advertising your business. You will want to set up a business website as soon as possible. It is a good time to have sales items like brochures and business cards printed up, too.

6. Singapore company registration • One cannot overlook the goods and services tax in Singapore. You may be compulsory to register, if you are running a big organization. If your total sales are more than a million dollars, you will be subject to goods and services tax. Also, if you imagine annual sales of one million, you should record for the goods and services tax. • Work permits • It may be necessary to apply for work permits. If you are bringing staff or employees with you, it is your responsibility to obtain employment passes. Do not forget that spouses and children will need dependent passes also.

7. CPF • After your setup of a Singapore company, you will not be required to withhold income tax from employees pay. However, if your employees are local, you will be required to pay a percentage of their pay to the Central Provident Fund, or CPF. Permanent residents are also considered to be local. Each month you will need to make the contribution and you will have a grace period of fourteen days, to do so. • Summary • After the process of a company setup or Singapore company registration, you need to take a few more steps, to do business. Check to see if you require a business permit or license. Create a bank account, obtain marketing supplies and check into Singapore company registration. • accounting and bookkeeping service Singapore