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Yes. In fact, many startups operate that way. It is possible to
outsource business support functions to professional corporate services
firms while you concentrate on your core business. VOPlus offers a host
of business support packages for design, IT and others to launch your
business off the ground. Contact
us to find out more.
Absolutely! As a licensed agent of the Singapore Ministry of Manpower,
VOPlus has assisted countless foreign entrepreneurs and professionals
obtain their relevant work passes each year. Contact
us to find out more.
While you need a registered address in Singapore to incorporate a
company, it does not have to be your actual office. VOPlus offers highly
affordable virtual office packages that come with a host of office
services. Contact us to find out more.
It depends on several factors, such as the type of industry your company
is in, your academic qualifications, etc. Click Contact usto find out more for
a comparison of the two passes.
A foreign individual or company cannot self-register a company. You need
to engage a professional corporate services firm to do that on your
behalf. If you plan to be the local director of the company, you need to
obtain either an Employment Pass or Entrepreneur Pass. Contact us to find out more.
The types of business structure for foreign individuals and companies
are Sole Proprietorship, Partnership and Private Limited Company.
Additionally, foreign companies can incorporate Subsidiary Company,
Branch Office and Representative Office. Find out more
Contact usto find out more
Singapore-incorporated companies need to prepare the following financial
statements: Report of Director, Statement by Directors, Statement of
Comprehensive Income, Statement of Financial Position, Statement of
Change in Equity, Statement of Cash Flow, and Notes to the Financial
Statements. Companies must also hold their Annual General Meeting (AGM),
and the statements must be presented at the meeting. The Annual Return
must be filed with the Registrar within 30 days after the AGM.
Contact us to find out more.
Under the Companies Act, all Singapore-incorporated companies need to
prepare and present financial statements that comply with the Singapore
Financial Reporting Standards (SFRS). The SFRS, on the other hand, is
based closely on the International Financial Reporting Standards (IFRS)
that are issued by the International Accounting Standards Board (IASB).
Contact us to find out more..
Services
Yes, definitely! Our incorporating service is affordable, efficient and
comprehensive. It could take only 2 hours to incorporate your business
if you are a local!
Absolutely! As a licensed agent of the Singapore Ministry of Manpower,
VOPlus has assisted hundreds of foreigners...
While you need a registered address in Singapore to incorporate a
company, it does not have to be your actual office.
A Company Secretary is responsible for establishing and maintaining all
company's statutory records and assisting the director in ensuring that
they comply with statutory regulations.
A Director is a person responsible for managing the affairs of the
company on behalf of the shareholders. All Singapore-incorporated
companies are required to have at least one local Director.
It makes business sense for SMEs to outsource their accounting and tax
function to keep their overhead low.
Yes. In fact, many startups operate that way. It is possible to
outsource business support functions to professional corporate services
firms while you concentrate on your core business.
Switching to VOPlus is absolutely free and hassle-free! Our team will
handle all the necessary work for the transfer. Simply contact us via
email or ask to speak to a consultant and we will guide you through the
process.
Pass & Immigration
An Employment Pass (EP) is a work pass obtained from the Singapore
Ministry of Manpower that allows foreign professionals, managers and
executives to work here.Contact us to find
out more.
Applicants of an EP need to have a job offer in Singapore with a monthly
salary of at least SGD3,600, and acceptable qualifications such as a
good university degree, professional qualifications or specialist
skills. Contact us to find out more.
The required documents include applicant's passport, photo, resume,
detailed job description and educational certificates, and the company's
latest business profile.Contact us to find
out more.
EntrePass is a work pass for foreigners who wish to start a business and
relocate to Singapore to operate their business. It is designed
primarily for technopreneurs or those with an R&D intensive enterprise.
Contact us to find out more.
The company must have a paid-up capital of at least SGD50,000, and the
applicant must hold at least 30% share. The company must also be either
funded by an accredited VC or a business angel, possess a registered IP,
have an ongoing research collaboration with a recognised research
institution, or an existing incubatee of a Singapore
government-supported incubator. Contact us
to find out more.
The required documents include applicant's passport, photo, educational
certificates, past employment testimonials and a 10-page business plan.
Contact us to find out more.
It depends on several factors, such as the type of industry your company
is in, your academic qualifications, etc. Click Contact usto find out more for
a comparison of
the two passes.
An EP or EntrePass holder can apply for Dependant's Passes for their
spouse and unmarried children under the age of 21 to live and study in
Singapore. Contact us to find out more.
Absolutely! As a licensed agent of the Singapore Ministry of Manpower,
VOPlus has assisted countless foreign entrepreneurs and professionals
obtain their relevant work passes each year. Contact us to find out more.
Accounting, Taxation & Filing
Under the Companies Act, all Singapore-incorporated companies need to
prepare and present financial statements that comply with the Singapore
Financial Reporting Standards (SFRS). The SFRS, on the other hand, is
based closely on the International Financial Reporting Standards (IFRS)
that are issued by the International Accounting Standards Board (IASB).
Contact us to find out more.
Under the Companies Act, a private limited company is required to
appoint an auditor within 3 months from the date of incorporation,
unless it is a Small Entity (SE). Your company qualifies as an SE if it
meets at least 2 of the 3 following criteria: (i) total annual revenue ≤
SGD10m; (ii) total assets ≤ SGD10m; and/or (iii) no. of employees ≤ 50.
Contact us to find out more.
If your company is an SE and exempted from audit requirements, it only
needs to file unaudited financial statements in the form of Annual
Return with ACRA. Contact us to find out
more.
Singapore-incorporated companies need to prepare the following financial
statements: Report of Director, Statement by Directors, Statement of
Comprehensive Income, Statement of Financial Position, Statement of
Change in Equity, Statement of Cash Flow, and Notes to the Financial
Statements. Companies must also hold their Annual General Meeting (AGM),
and the statements must be presented at the meeting. The Annual Return
must be filed with the Registrar within 30 days after the AGM.Contact us to find out more.
Since 2010, Singapore's corporate income tax rate has been pegged at a
flat rate of 17%. However, there are various tax incentives granted by
the government for startups that lower the effective tax payable
considerably. For instance, a Singapore-incorporated company does not
have to pay any tax on the first SGD100,000 taxable income for the first
3 years if they meet certain criteria. Contact
us to find out more.
Singapore adopts a progressive personal income tax system that ranges
from 0% for the first SGD20,000 to 22% for income above SGD320,000.
Capital gains, income earned overseas and dividends received from a
Singapore company is not subject to personal tax in Singapore. Contact us to find out more.
Singapore companies are required to declare their revenue amount and
Estimated Chargeable Income (ECI) by filing an ECI form with the Inland
Revenue Authority of Singapore (IRAS) within 3 months of the Financial
Year End for the company. Subsequent to the filing of ECI, they are also
required to submit its annual Income Tax Return with IRAS by November
30.Contact us to find out more.
Absolutely! VOPlus offers an array of accounting, tax and annual filing
services that are suited for SMEs. Contact us to find out more.