Starting a Company In Singapore Introduction

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Take our two hour incorporation tour. Everything a foreigner or local should know about how to incorporate and run a company in Singapore during the first month of operation. More here: http://futurebooks.com.sg/blog/starting-a-company-in-singapore-introduction-2/5153

Business

Prepared for directors
of Singapore private
limited companies.
As of 2012

STARTING A
COMPANY IN
SINGAPORE:
INTRODUCTION

ACCOUNTING
IS A SERVICE,
NOT A
TRANSACTION
www.futurebooks.com.sg

FUTUREBOOKS
SERVICES

Sale of the
business

Bookkeeping, annual
financials and
company tax

Incorporation ,
company secretary,
work passes

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LAUNCH YOUR
BIG IDEA

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LEGAL STRUCTURES:
LOCAL DIRECTORS

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LEGAL STRUCTURES:
FOREIGN DIRECTORS

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IMPORTANT
GOVT BODIES

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COMPLIANCE WITH
ACRA’S BIG 4

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#1 APPOINTING A
LOCAL DIRECTOR

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#2 REGISTER MAILING
ADDRESS

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#3 APPOINTING A
COMPANY SECRETARY

Can I handle asset
registers?
Can I file
on time?

Can I handle
share transfers?

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#4 APPOINTING
AN AUDIT FIRM

Do I want to attend a
planning meeting?
Will I get it
done?

Will I answer
email?
Will I maintain
the budget?

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PLAN YOUR
INCORPORATION

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COMPLETING AN
INCORPORATION

•
•

•
•

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#1 BIZFILE

Download

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#2 M+AA

Download

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#3 SHARE
CERTIFICATE

Download

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#4 BOARD OF DIRECTORS
RESOLUTION

Download

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COMPANY
STAMP + SEAL

Do I need a
company seal?

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Search for
‘Singapore
incorporation’
on the App Store.

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STARTUP FRIENDLY
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Account name Min. opening Min. avg. daily Directors living
balance balance abroad
DBS Startup $500 $10,000 Easy
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Account
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UOB Current $1,000 $8,000 Hard

MayBank Company Current $3,000 $10,000 Hard

HSBC Business Vantage $30,000 $30,000 Hard

Citibank Commercial Bank $100,000 $50,000 Hard

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GET USED TO
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LEGALLY WORKING
IN SINGAPORE

MOST DESIRABLE

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residency
Personal
EP

Employment
pass

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A LOCAL WHO WANTS
TO TEST AN IDEA

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A FOREIGNER ON A PEP WHO
WANTS TO START A BUSINESS

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A FOREIGNER WHO DOES NOT
WISH TO LIVE IN SINGAPORE

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Starting a Company In Singapore Introduction

1. Prepared for directors of Singapore private limited companies. As of 2012 STARTING A COMPANY IN SINGAPORE: INTRODUCTION

2. ACCOUNTING IS A SERVICE, NOT A TRANSACTION www.futurebooks.com.sg

3. FUTUREBOOKS SERVICES Sale of the business Bookkeeping, annual financials and company tax Incorporation , company secretary, work passes www.futurebooks.com.sg

4. LAUNCH YOUR BIG IDEA www.futurebooks.com.sg

5. STRUCTURES AND COMPLIANCE

6. LEGAL STRUCTURES: LOCAL DIRECTORS www.futurebooks.com.sg

7. LEGAL STRUCTURES: FOREIGN DIRECTORS www.futurebooks.com.sg

8. IMPORTANT GOVT BODIES www.futurebooks.com.sg

9. COMPLIANCE WITH ACRA’S BIG 4 www.futurebooks.com.sg

10. #1 APPOINTING A LOCAL DIRECTOR www.futurebooks.com.sg

11. #2 REGISTER MAILING ADDRESS www.futurebooks.com.sg

12. #3 APPOINTING A COMPANY SECRETARY Can I handle asset registers? Can I file on time? Can I handle share transfers? www.futurebooks.com.sg

13. #4 APPOINTING AN AUDIT FIRM Do I want to attend a planning meeting? Will I get it done? Will I answer email? Will I maintain the budget? www.futurebooks.com.sg

14. INCORPORATING A PRIVATE LIMITED COMPANY

15. PLAN YOUR INCORPORATION www.futurebooks.com.sg

16. COMPLETING AN INCORPORATION • • • • www.futurebooks.com.sg

17. #1 BIZFILE Download www.futurebooks.com.sg

18. #2 M+AA Download www.futurebooks.com.sg

19. #3 SHARE CERTIFICATE Download www.futurebooks.com.sg

20. #4 BOARD OF DIRECTORS RESOLUTION Download www.futurebooks.com.sg

21. COMPANY STAMP + SEAL Do I need a company seal? www.futurebooks.com.sg

22. Search for ‘Singapore incorporation’ on the App Store. www.futurebooks.com.sg

23. OPENING A CORPORATE BANK ACCOUNT

24. STARTUP FRIENDLY BANKS Account name Min. opening Min. avg. daily Directors living balance balance abroad DBS Startup $500 $10,000 Easy Entrepreneur Account OCBC Business $500 $8,000 Easy Entrepreneur Standard Chartered BusinessOne none $10,000 Easy UOB Current $1,000 $8,000 Hard MayBank Company Current $3,000 $10,000 Hard HSBC Business Vantage $30,000 $30,000 Hard Citibank Commercial Bank $100,000 $50,000 Hard www.futurebooks.com.sg

25. GET USED TO CORPORATE BANKING www.futurebooks.com.sg

26. APPLYING FOR A WORK PASS

27. LEGALLY WORKING IN SINGAPORE MOST DESIRABLE Permanent residency Personal EP Employment pass Entrepass LEAST DESIRABLE www.futurebooks.com.sg

28. SCENARIOS

29. A LOCAL WHO WANTS TO TEST AN IDEA www.futurebooks.com.sg

30. A FOREIGNER ON A PEP WHO WANTS TO START A BUSINESS www.futurebooks.com.sg

31. A FOREIGNER WHO DOES NOT WISH TO LIVE IN SINGAPORE www.futurebooks.com.sg

32. www.futurebooks.com.sg

33. TERMS OF USE www.futurebooks.com.sg