Singapore Company Registration: Why to Go for Early Incorporation

1. S i n g a p o r e C o mp a n y R e g i s t r a t i o n : Wh y t o G o f o r E a r l y I n c o r p o r a t i o n With a reputation of being the world leader in global trade and investment, Singapore is the best place for doing business wherein entrepreneurs can see a better and promising future. The factors such as the state of the art infrastructure, liberal government policies, strategic geographical location and cosmopolitan culture are serving as driving forces behind a vibrant economy that is ripe for your company incorporation.

2. C h o o s e t h e R i g h t B u s i n e s s S t r u c t u r e f o r C o mp a n y I n c o r p o r a t i o n S i n g a p o r e It is no doubt that Singapore is the first choice for the entrepreneurs intending to It is no doubt that Singapore is the first choice for the entrepreneurs intending to make their presence felt in the soil of island nation. When considering company make their presence felt in the soil of island nation. When considering company incorporation, the first decision every entrepreneur must take is the type of incorporation, the first decision every entrepreneur must take is the type of business structure. This crucial decision will affect the amount of tax payable, business structure. This crucial decision will affect the amount of tax payable, corporate image, liability issue, the scope of lending money and expansion of the corporate image, liability issue, the scope of lending money and expansion of the business. Ideally, many of foreign and local entrepreneurs opt to incorporate business. Ideally, many of foreign and local entrepreneurs opt to incorporate their business in the form of Limited Liability Company (LLC). their business in the form of Limited Liability Company (LLC).

3. P r i v a t e L i mi t e d C o mp a n y i n S i n g a p o r e When you open a private limited company in Singapore, it is treated as tax When you open a private limited company in Singapore, it is treated as tax resident. It is entitled to corporate tax rates along with a slew of tax benefits and resident. It is entitled to corporate tax rates along with a slew of tax benefits and incentives. Your company will be considered as a separate legal entity, which incentives. Your company will be considered as a separate legal entity, which means your personal assets are protected from business liabilities. A private means your personal assets are protected from business liabilities. A private limited company has a greater credibility among potential business partners, limited company has a greater credibility among potential business partners, shareholders and investors. In addition to it, the company has the perceptions shareholders and investors. In addition to it, the company has the perceptions that your business base is strong and will run for the longer term. that your business base is strong and will run for the longer term.

4. Wh y t o C h o o s e E a r l y C o mp a n y I n c o r p o r a t i o n ? One question that swirls in the minds of budding or first-time entrepreneurs is One question that swirls in the minds of budding or first-time entrepreneurs is that when is the right time to initiate the company registration process. The legal that when is the right time to initiate the company registration process. The legal cost of company incorporation and fees to ACRA are the main expenditure that cost of company incorporation and fees to ACRA are the main expenditure that investors face during the course of registration. Since profit is not immediate in investors face during the course of registration. Since profit is not immediate in start-up businesses, it is easy to delay the process. However, experts advised start-up businesses, it is easy to delay the process. However, experts advised that -the earlier the better. that -the earlier the better.

5. B e l o w a r e t h e f i v e r e a s o n s t o s t a r t a b u s i n e s s i n S i n g a p o r e s o o n e r r a t h e r t h a n l a t e r . Preserve Your Company Name: Preserve Your Company Name: Early incorporation can help you to reserve the name you have selected for your Early incorporation can help you to reserve the name you have selected for your company. It is less likely to conflict with the similar existing company name. company. It is less likely to conflict with the similar existing company name. Once you register your name with ACRA (The Accounting and Corporate Once you register your name with ACRA (The Accounting and Corporate Regulatory Authority), your company name remains protected as a trademark. It Regulatory Authority), your company name remains protected as a trademark. It will be reserved for a period of 60 days. will be reserved for a period of 60 days.

6. Signing Legal Agreement is not a hassle: Signing Legal Agreement is not a hassle: Incorporation can make the process of signing legal agreements easier. A lot of Incorporation can make the process of signing legal agreements easier. A lot of legal agreement requires the signature of an authority from a properly legal agreement requires the signature of an authority from a properly established business entity. established business entity. Protect Your Intellectual Properties: Protect Your Intellectual Properties: When you incorporate early, you are likely to reserve the copyright of your When you incorporate early, you are likely to reserve the copyright of your intellectual properties (company name, writing code, images, software, app and intellectual properties (company name, writing code, images, software, app and website and any other proprietary assets) by registering the trademarks. This will website and any other proprietary assets) by registering the trademarks. This will minimize the hassle of the future disputes with any individual or company. minimize the hassle of the future disputes with any individual or company.

7. Accumulate Equity Share in Business: Accumulate Equity Share in Business: Early incorporation allows you to buy equity in your company at the fair market Early incorporation allows you to buy equity in your company at the fair market value. However, a late incorporation may involve multiple shareholders and thus, value. However, a late incorporation may involve multiple shareholders and thus, it can dilute your equity share in the business. it can dilute your equity share in the business. Raise the Fund: Raise the Fund: Ideally, investors tend to invest in established entities instead of an individual. If Ideally, investors tend to invest in established entities instead of an individual. If you wait to secure funding to incorporate a company in Singapore, you will run you wait to secure funding to incorporate a company in Singapore, you will run into valuation problem. In Singapore, there are many funds, cash grants, and into valuation problem. In Singapore, there are many funds, cash grants, and other schemes available for start-up companies and SMEs. Thus, early other schemes available for start-up companies and SMEs. Thus, early incorporation can help you to get access to these alluring funds. incorporation can help you to get access to these alluring funds.

8. As we know that every good thing has a bad side. And, the early incorporation As we know that every good thing has a bad side. And, the early incorporation is no exception. Its only disadvantage is that you need to adhere to the is no exception. Its only disadvantage is that you need to adhere to the statutory compliance of ACRA and IRAS (Inland Revenue Authority of statutory compliance of ACRA and IRAS (Inland Revenue Authority of Singapore). Annual general meetings and filing annual reports are some Singapore). Annual general meetings and filing annual reports are some instances of these. instances of these. Nevertheless, you can outsource the tasks to a professional expert like SBS Nevertheless, you can outsource the tasks to a professional expert like SBS consulting, who will take care all your compliance matters starting from consulting, who will take care all your compliance matters starting from Singapore company registration to post-incorporation formalities including all Singapore company registration to post-incorporation formalities including all paperwork. paperwork.

9. A b o u t S B S C o n s u l t i n g P t e L t d SBS Consulting Pte Ltd is a leading corporate services provider in Singapore. SBS Consulting Pte Ltd is a leading corporate services provider in Singapore. Since inception, the firm has achieved a phenomenal growth by delivering high- Since inception, the firm has achieved a phenomenal growth by delivering high- end company incorporation services. end company incorporation services. Apart from incorporation, the firm also offers a variety of corporate solutions Apart from incorporation, the firm also offers a variety of corporate solutions such as bookkeeping, accounting, company secretary and payroll. The quality of such as bookkeeping, accounting, company secretary and payroll. The quality of services is exceedingly high and unmatched in the industry. services is exceedingly high and unmatched in the industry.

10. C o n t a c t U s 35-B Hongkong Street 35-B Hongkong Street Singapore 059674 Singapore 059674 Phone : Phone : +65-6536 0036 +65-6536 0036 Email : Email : info@sbsgroup.com.sg Website : Website :www.sbsgroup.com.sg