Singapore Company Secretarial Services, at S$299, are Affordable

If you are worried whether your business needs to hire a Singapore company secretarial services provider or not, then, let me clarify the situation. Yes, you need to hire one to comply with the dictates of Singapore Companies Act. &, you need to do it within the six months of the registration of your company. You should actually worry about where to find a qualified & experienced corporate secretarial services provider in Singapore at an affordable cost.

 

Yes, You Need a Company Secretary

 

A company secretary is a highly responsible position in a Singaporean company. The appointee is responsible for assisting the directors of a company in complying with the prevalent law. That is why hiring a qualified professional becomes important. You could choose to appoint an in-house secretary or take the cue from the majority of business owners & hire one of the company secretarial services in Singapore like SBS Consulting. As a matter of fact, the firm charges only S$299 for its secretarial services.

 

Many small companies shy away from appointing a permanent secretary. The expenses involved in salary, employee benefit, & infrastructure adds to their overhead costs. It especially hurts them at their startup stage. The more affordable option for them is to hire a Singapore company secretarial services provider.

 

Choose a Combo Package, Get Multiple Services, But Pay for One

 

There are corporate secretarial services providing firms in Singapore like SBS Consulting that offer combo incorporation packages. The benefit of opting for a combo package is that you get multiple services for the price of one. By paying as less as S$699 to register your company, you may also get FREE services like Company Secretary & local registered office address for a year.

 

What Does a Company Secretary Do for Your Company?

 

 SBS Consulting, as your Singapore company secretarial services provider, sees to it that you are compliant with the requirement of the law. After hiring us, you do not need to worry about the following responsibilities.

• Hold meetings to synchronize decision making & reporting
• Prepare agendas for meeting after consulting the chairman or CEO
• Advise the directors about their duties & personal obligations
• Take minutes of meetings & certify its copies
• Ensure safe custody & proper use of the company seal
• Update corporate governance
• Circulate documents like financial statements to shareholders
• Attend meetings & take minutes
• See to it that correct procedures are used
• Distribute company’s annual report, accounts, & interim statement
• Prepare the directors’ report
• Ensure all company activities are as per its constitution
• Draft changes to amend company constitution
• Update ACRA with changes in the constitution
• Maintain statutory registers of company
• Report appointments/resignations/deaths
• Submit annual returns
• Update ACRA with changes in the company name
• Report issue of shares
• Report changes in the company officials to ACRA
• Send circulars & keep the shareholders in loop
• Maintain register of company’s shareholders
• Transfer shares
• H&le shareholder’s queries & pay dividends & interest
• Issue documents related to rights issues & capitalization issues
• Monitor movements in shares to anticipate any takeover bidders
• Maintain relations with general & institutional shareholders
• Contribute to acquisitions & disposals of assets
• Communicate & inform non-executive directors of company

The appointing of Singapore company secretarial services is a pre-registration requirement. You can choose to hire a permanent secretary or outsource the task to a reliable secretarial services in Singapore.

 

Contact us:  
SBS Consulting Pte Ltd  
High Street Center,  
#17-02, 1 North Bridge Road,  
179094 - Singapore
Phone: +65-6536 0036  
Email: info@sbsgroup.com.sg

Singapore Company Incorporation, Make the Most of Opportunity

If you are thinking of a Singapore company incorporation, let me ask you a question. What do you know about Singapore Inc? Well, first of all, it is not a company. The term is well-meant and used to describe the professionalism in Singapore. It aptly describes how this country is run by its authorities.

Rest assured, you have chosen well. The World Bank lists it as the easiest place to do business in. During the last few decades, Singapore has come up as the most favorite business destination for the entrepreneurs and multinationals. Go ahead with your planning and get your Singapore business incorporation without delay.

Singapore Company Incorporation Services

Singapore company incorporation services are the most helpful entities that can simplify your task. A few of these firms provide combo incorporation packages for as less as S$699. The beauty of these packages is that you only pay for one service and get registered local office address and company secretary services for FREE for the first year.

You may like to choose one of the cheaper options to incorporate your company in Singapore. However, the free services provided by combo packages are essential. Without them, the registration of a Singaporean company is not complete, which means if you buy them separately you actually end up paying more money.

Singapore Business Incorporation, the Right Choice

Choosing to incorporate a company in Singapore is a wise decision. The Forbes Magazine has described this place as the ‘Zurich of the East.’ The innovation and the sheer hard work has transformed this city-state into the most thriving business hub. Here, you can expect to find a well-established business environment.

Incorporate a Company in Singapore? Is it the Right Place?

In its ‘Ease of Doing Business Report 2017,’ the World Bank has ranked Singapore at 2nd place. And it has occupied the top spot for the previous ten years consecutively. It is no wonder the entrepreneurs and corporates from all over the globe dream about incorporating a company in Singapore.

It also easy to Register a business in Singapore. In most of the cases, it takes only a day or two to do so. There, literally, is no corruption or the bureaucratic red-tape to stop or delaying you from doing so. Moreover, the country has transparent laws and a well-built support system for the startups.

Benefits for Singapore Startups

The lower tax rate is one of the attractive parts of the Singapore business incorporation. The country also does not apply inheritance or capital gains tax which, in turn, attracts investors and FDI. Its authorities support startups by offering a highly attractive tax exemption scheme. They have funding, accelerator, incubator, startup schemes for these entities. They also have tax exemption, rebates, and schemes for the existing companies. The aim is to lower their operating costs.

Also Read: How Small Businesses Get Impacted by the Corporate Tax Singapore?

Singapore authorities really believe in their SME sector. It employs nearly two-thirds of the workforce. They do their best to support these entities at every stage of their lifecycle. The SMEs can count on these schemes and programs to upgrade to innovative technology or equipment, skill development of its staff, research & development, etc. For an entrepreneur having innovative ideas, a Singapore company incorporation is the right career choice.

Contact us:
SBS Consulting Pte Ltd
High Street Center,
#17–02, 1 North Bridge Road,
179094 — Singapore
Phone: +65–6536 0036
Email: info@sbsgroup.com.sg

Go for Singapore Company Incorporation to Start Your FinTech Business

Singapore is one of the prominent financial hubs in the world. It is the place you should go to if you want to be part of fintech scenario. If you are starting a new business, it will be a great idea to explore benefits of Singapore company incorporation before you go elsewhere. You should especially, search for the promo incorporation packages that provide multiple services for the price of one.

Singapore has come up as a key place to start or relocate your business. It has a robust and thriving startup ecosystem to support the innovative ideas. The city-state scores high in areas like management of investment & wealth, compliance, cybersecurity, IP laws, etc. That is why the entrepreneurs make a beeline to incorporate a company in Singapore.

Singapore Government is Willing to Support Fintech

Singapore government is very serious about making huge strides in fintech sector. It is actively encouraging entrepreneurs to try their ideas. The authorities have rolled out the Financial Sector Technology and Innovation Proof of Concept scheme to promote experimentation & to fast-track any creative technologies. Your new Singapore business incorporation can have several options in grants and schemes.

If you have an innovative idea, this is the time to opt for your company incorporation in Singapore. The Monetary Authority of Singapore (MAS) allotted S$225 million for fintech development. Over the next five years, the MAS is going to establish innovation centers & support the development of fintech projects at institution and industry level. You could try the Startup SG Tech & submit your Proofs of Concept or Proofs of Value & secure grants.

Singapore Startup Ecosystem

Your startup can benefit from the SPRING Singapore, a government initiative. It gives a lot of support through the Startup SG Accelerator. It supports them by means of programmes, mentorship, & the resources. There is the Startup SG Equity scheme through which the government & investors can co-invest in your startups. If it is the first startup, you can use the Startup SG Founder programme to find mentorship & startup capital grants.

Also read: Company Registration Singapore: 6 Tips to Grow as an Entrepreneur

Get Your Idea on the Road

If you have a fintech-related creative idea, you need to implement it by starting a company. It gives the idea much wanted legal protection in a cut-throat market. You are not going to gain by hoarding it for the future. Sooner or later someone else will arrive at it and benefit from it. You need to show your commitment to the idea by hiring one of the experienced Singapore company registration services to set up a company in Singapore as soon as possible.

Your startup won’t be alone in the market. There are more than 400 fintech companies in Singapore trying to make their way to the top. The financial institutes like banks and insurance companies are also active in the market and have come up with fintech innovation labs or research centers in Singapore. The sooner you get your Singapore company incorporation, the sooner you will be able to carve a niche for yourself.

Contact us:
SBS Consulting Pte Ltd
High Street Center,
#17–02, 1 North Bridge Road,
179094 — Singapore
Phone: +65–6536 0036
Email: info@sbsgroup.com.sg

Top 7 Government Grants for Singapore Companies

The startups & SMEs are the powerhouses of Singapore. They employ almost two-thirds of the Singaporean workforce. The authorities really try to support these entities. There are a number of government grants for Singapore companies to help them overcome obstacles in their growth.

Besides the government, SPRING and IE Singapore work through as many as 40 Trade Association and Chambers (TACs) to implement Local Enterprise and Association Development (LEAD) program. The overall aim of the Singapore startup grants is to help the local business entities in capability upgrading and internationalization.

Singapore Government Grants for SME & Startups

If you are planning company incorporation in Singapore or have an existing business on the verge of exploding into a phenomenal growth, it will be worth your while to go through a few of the Singapore government grants for SME & Startups.

1. ACE Startups

SPRING Singapore is a government agency. It administers the ACE Startups Scheme for the first-time entrepreneurs having an innovative idea. The scheme provides mentorship support and startup capital grant. The Accredited Mentor Partners (AMPs) select applicants. The AMP supports the startups with advice, learning programs, and networking contacts.

Eligibility: First-time entrepreneurs who are Singaporean or Permanent Residents are qualified for the scheme. The criterion for the selection is the uniqueness of business concept, business model feasibility, management team, and potential market value.

How It Works: For your every $3, you will get $7 under ACE. The startup funding Singapore under ACE scheme is capped at $50,000.

2. Capability Development Grant

The Capability Development Grant (CDG) is a scheme for providing financial assistance to startups for building capabilities in ten business areas. They include consultancy, cost of certification, and costs of equipment, and training.
 SPRING supports startups that are eager to develop new products under the CDG. They can apply for the grant of up to 70% of costs for new product design, development, and manufacturing processes.

Eligibility: Any Small & Medium Enterprise incorporated & operating in Singapore

How It Works: Startups can qualify for up to 70% of CDG. The grant is capped at $30,000.

Also Read: 5 Things Every Entrepreneur Should Know Before Company Registration Singapore

3. Early-Stage Venture Funding

The Early Stage Venture Fund (ESVF) is a Singaporean initiative to support Innovation and Enterprise. ESVF is the biggest equity scheme by the government which co-funds startups along with Venture Capital (VC) firms. The beneficiaries of this startup funding in Singapore are early-stage technology startups based in Singapore.
 The National Research Foundation (NRF) invests S$10 million on a matching basis, to seed corporate venture capital (VC) funds. The VCs have the option to buy NRF’s share within five years.

Eligibility: Startups that are operating in the technology sector in Singapore.

How It Works: National Research Foundation (NRF) co-funds startups up to $10 million with approved VCs. Eligible startups can qualify for up to $3 million in this Singapore startup grants grant.

4. Productivity and Innovation Credit (PIC)

The Inland Revenue Authority of Singapore has a scheme for the Singaporean companies for investments in innovation and productivity improvements. They can enjoy Cash Payout and/or Tax Deduction and receive a PIC Bonus. The scheme covers research & development, registration, acquisition, & in-licensing of intellectual property, cost of automation equipment, training of staff, & approved design projects.

Eligibility: Singaporean companies, sole proprietors

How It Works: Under PIC scheme, businesses get 400% tax deductions on up to $400,000. Or they can opt for 40% cash payout of up to $100,000. The PIC Scheme will expire after Year of Assessment (YA) 2018.

5. Financial Sector Technology and Innovation (FSTI) Scheme

Momentary Authority of Singapore (MAS) launched FSTI scheme to support innovation. It has invested S$225 million in the scheme. The aim of this Singapore startup grant is to enable financial institutions to establish their innovation labs in Singapore & support the development of industry-wide technology infrastructure & innovation solutions.

Eligibility: Singaporean Financial Institutions (FIs) & technology or solution providers working with Singaporean FIs.

How It Works: Under FSTI-Proof of Concept (POC), MAS funds up to 50%-70% of qualifying costs, capped at $200,000, for up to 18 months.

6. Technology Enterprise Commercialization Scheme (TECS)

The TECS is a government grants Singapore to help entrepreneurs realize their technology-based ideas into promising businesses. The scheme assists them in growing their business past the seed stage and then, obtain funding from the third-parties to achieve targeted revenues and growth. The proposals for the grant are ranked solely based on the evaluation of technical idea and its commercial merits. The TECS is highly useful to the startups with strong technology Intellectual Property & business model.

Eligibility:Companies registered in Singapore for less than five years and searching for the breakthrough, IP-based, and commercially viable technological solutions.

How It Works: TECS is a two-tier startup funding Singapore grant. Proof of Concept at $250,000 & Proof of Value at $500,000.

7. ComCare Enterprise Fund

The ComCare Enterprise Fund (CEF) is relatively new government grants for startups, instituted to provide funding to the social entrepreneurs. It is instituted by the Ministry of Social and Family Development. It is aimed at seeding the Social enterprise startups. If the startup has completed two years, it can seek funds for expanding its activities.

Eligibility:Social enterprise startups that hire and train disadvantages Singaporeans.

How It Works: CEF funds up to of 80% of the capital expenditure and operating costs up to $300,000 for the first two years

Singapore knows the important role that its startups and SMEs plays in its economy. The new Singapore company incorporation implementing the innovative ideas try to reach for the future, whereas the existing SMEs act as its backbone. It is natural for the authorities to support these entities with the government grants Singapore. The Singapore government grants for SME & Startups help these entities a lot at different stages in their life-cycle. The support is available in tax exemptions, rebates, cash payouts, or tax deductions.

Contact us:
SBS Consulting Pte Ltd
Visit: https://www.sbsgroup.com.sg
High Street Center,
#17–02, 1 North Bridge Road,
179094 — Singapore
Phone: +65–6536 0036
Email: info@sbsgroup.com.sg

Originally Posted: https://goo.gl/LHVcYY

Singapore Company Secretarial Services: Reduce Cost of Compliance

There are many reasons why the business owners are using Singapore Company Secretarial Services. The primary reasons behind the decision are the need to maintain statutory compliance and of maintaining the competitive edge.

If you are hoping to incorporate a private limited company in Singapore or are already a first-time owner of one, you might wonder about the need of hiring a competent company secretary. However, have no any doubts in your mind about it. It is an absolute necessity. The Company Act of Singapore demands it. And you have to appoint one of the Singapore company secretarial services within the six months from the registration of your company.

Company Secretary

An experienced secretary can take charge of the administrative work in a company. The secretary employed by the company secretarial services in Singapore commandingly ensures your business’ statutory compliance and corporate governance. A secretary is a kind of specialist that allows you to separate administrative and business activities. The successful business owners have also realized there are benefits of the move.

Why Employ Company Secretarial Services Singapore?

Accurate Compliance: These firms provide quality secretarial services in Singapore which goes a long way in ensuring your statutory compliance. You can rest assured that your compliance is in the hands of the experienced and qualified secretaries employed by the firm.

Cost Cutting Through Outsourcing: Even MNCs that are very conscious about the quality choose to outsource various of their in-house tasks like company secretary. Outsourcing to secretarial services Singapore has come up as a proven method of cutting down the cost of compliance.

The business benefits from the services of qualified secretaries. Moreover, they do not have to worry about the salary, employee benefits, or infrastructure of the in-house employee. For the most of the businesses, outsourcing turns out to be an affordable option.

Increased Efficiency & Effectiveness: When you hire one of the company secretarial services Singapore, you simply move the task out of your workplace. It reduces the mental clutter at the workplace which, in turn, lets you or the managerial staff pay detailed attention to each aspect of profit-making business activities.

What it Means to Hire a Company Secretary in Singapore

According to the Singapore Companies Act, all the incorporated company must appoint a company secretary. It is the precondition for registering a company in Singapore. Without it, the task remains unsuccessful. That is why while registering your company you should search for a combo incorporation package.

There are a number of corporate secretarial services like SBS Consulting Pte Ltd that charge you for one service but provides you with multiple services. By choosing such an incorporation package, you can get FREE registered local office address and company secretary services for the first year.

Alternatively, you may also need to appoint one of the reliable corporate secretarial services Singapore, if you already are a proud owner of a Singaporean business and are trying to replace your current secretary. The services providers have stand-alone services to cover this eventuality.

The Singapore Company Act allows Singapore Citizens, PR and holders of Employment Pass or Entrepreneur Pass to act as a secretary. The appointee also needs to be ordinarily resident in Singapore and qualified in handling the role and responsibilities of company secretary. However, the majority of business owners prefer to employ Singapore company secretarial services so to be compliant with the prevailing laws.

Contact us:

SBS Consulting Pte Ltd

High Street Center,

#17–02, 1 North Bridge Road,

179094 — Singapore

Phone: +65–6536 0036

Email: info@sbsgroup.com.sg

Company Incorporation in Singapore at S$699, Take Your Solutions to Customers

Arriving at a solution to a problem that can help millions is not easy. However, when it comes it zigzags through the mind like a blown, untied balloon let loose in a room by a kid. On such an occasion, you do your best to hang on to it till you get to its essence & ultimately, the key to successful company incorporation in Singapore.

Almost everyone, at least once, in their life arrive at such a solution. However, only a few, wise and business-minded individuals have the guts to go ahead with it. They tweak it and tackle the difficulties in packaging and delivering it to the end users. If you are one such lucky individual, you must, without losing any time, see an advisor from one of the incorporation services in Singapore.

Singapore Company Incorporation Services

The experts employed by these services are experienced and qualified in their chosen field. They can make your company incorporation Singapore a painless episode. Most of these services offer packaged deals. If you buy a combo incorporation package from one of them, it can drastically reduce your cost of registering a new business.

Get the one that offers services like Company Secretary and Registered Local Office Address FREE for the first year. The whole package may cost you around S$699. The experts know how to go about their job, and that is why even old hands outsource their company incorporation in Singapore to the incorporation services in Singapore.

These experts are really quick in discharging their responsibility in your company incorporation Singapore. They never dither unless restrained by the law. They know the value of time, and the importance of putting the idea in practice before someone else with more funds, resources, connections, and experience does it.

Get Your Idea to Drawing Board and then, to Customers

If you lose your advantage in taking a solution to your targeted customers, you will never be able to cash on your idea to the full extent. And, if you meet someone experienced you will come to know of many examples of it happening in the past. The people had lost claims to the patents because they filed for it just before the end of the working day and the winner did it in the morning, at the start of it. So, if you have a business idea loitering around in your head, you ought to bring it out and take it to the world. The first step in this direction is to opt for company incorporation in Singapore to protect it.

Understand the Singapore Company Incorporation Procedure in Five Simpl

More presentations from SBS Consulting

Singapore has strong Intellectual Property Laws. It is one of the reasons why organizations interested in R&D incorporate a business entity here. When you have a company that is trying to implement an idea, it becomes difficult for the others to copy or steal it from you. Singapore private limited companies are legal persons, and they own their IP properties. They can fight these perpetrators off by challenging them in the court of law.

A startup or new company incorporation in Singapore can derive a variety of benefits. The government and its agencies like Spring Singapore put in a lot of efforts to support these entities in every way. It is a startup ecosystem where you can find ears tuned to the innovative ideas, experienced mentors access to funds, grants, and tax incentives easily, provided you have the right idea.

Contact us:

SBS Consulting Pte Ltd

High Street Center,

#17–02, 1 North Bridge Road,

179094 — Singapore

Phone: +65–6536 0036

Email: info@sbsgroup.com.sg

Get Accounting Services for Small Business in Singapore, Follow the Trend

The managers and owners are always looking to improve their business’ performance. In practice, they have a tremendous scope of doing so by hiring one of the accounting services for small business Singapore. It allows them to escape the hellish pressure the compliance-related tasks put them under.

Today, outsourced accounting services are hogging the limelight. However, only a few years ago, the business owners used to avoid going to these entities. The reason was simple. They were reluctant to share finance-related data of their business with a third-party. However, the accounting services provider in Singapore has proven their mettle. They know how to protect the sanctity of their clients’ data and the consequences of failing in doing so.

Hire Outsourced Accounting Services

Initially, it was the MNCs who hired third-party accounting services to take care of their non-core tasks; then the small businesses followed suit. It is a simple way of optimizing your business performance. You get timely and accurately calculated taxes, payroll & financial statements and reports. It positively impacts the growth and productivity of your small businesses.

The accounting services provider in Singapore like SBS Consulting assist their clients in the discharge of the accounting functions that keep the business operational. They have qualified accountants who take care of the clients’ accounts receivable & payable, payroll, GST registration & filing, other taxes, preparation of compilation report/ Director’s report and unaudited financial statements, etc.

The benefit of employing one of the Professional accounting services for small business in Singapore is that startups and SMEs do not need to set up an in-house department. It is costly as it involves expenses like employee salary, benefits, incentive, infrastructure, stationery, etc. Interviewing, hiring, and firing of employees also put the strain on them. Even after spending money on an in-house setup the results may not be as per their expectation.

Once the task is given to the outsourced accounting services, you no more have to deal the changes in the rules and regulations, absenteeism, resignations, computer problems, installation of new versions of accounting software or software patches. By paying affordable fees, you can simply erase all of these events from your life and reduce the stress level.

Accounting services Singapore - SBS Consulting Pte Ltd

Choose Right Accounting Services in Singapore

These Accounting firms have experts to take care of every aspect of the task. They also assign extra resources to you when the season peaks, resulting in the drastic increase in the number of your business transactions. The experts are very much familiar with the SFRS and single and double entry principles. They update your books as per your instructions by doing monthly or quarterly bookkeeping or accounting.

You need to careful with the selection of the Corporate accounting services provider Singapore for your company. The provider’s carelessness, laziness, or lateness in preparing financial data or statements or incorrect payroll or tax calculations can harm your business.

Outsource all or a portion your accounting processing to one of the trusted and experienced accounting services for small business Singapore. It allows you access to reliable, timely & accurate financial data about your business. It also can partially or fully free your resources that you can reassign to achieve the core goals of your business.

Contact us:
SBS Consulting Pte Ltd
High Street Center,
#17–02, 1 North Bridge Road,
179094 — Singapore
Phone: +65–6536 0036
Email: info@sbsgroup.com.sg

Originally Posted: https://goo.gl/AHHtcw