We are a full-service accounting and secretarial company located at 30 Roberts Lane #02-01 Singapore 218309.

Since the year 2010 till 2017, the directors of the above-named company were associated with Bengal Management and Consultancy – a sole proprietorship rendering the same professional services to our existing clients

For years, we have been providing corporate secretarial, bookkeeping, accounting, payroll, taxation, and many other accounting services to a wide range of clients, including both businesses and individuals throughout the country. As such we have developed a high reputation for our professional services based on the excellent services we render to our clients.

We assist businesses in incorporating their entity/ branches in Singapore and enable them to be compliant with regulatory reporting.

Corporate Secretarial Services Provider

Step By Step Assistance

Incorporating the entity
Applications for necessary business licenses
Filing Annual Returns with ACRA
Corporate and Individual Tax Filing with IRAS
Secretarial, Accounting and Bookkeeping Services

Name Approval and SSIC Code

The first procedure of the incorporation or registration process is the approval and reservation of the company name. Submit your application online via Bizfile with your SingPass password. Appoint a professional firm if you do not have a SingPass.

An application fee of S$15.00 is payable for each approved company name. Reservation is for 60 days but can be extended for a further 60 days before expiry. The fee for the extension is S$ 10.00 per name. Approval of a name takes usually one hour.

Research business names at Bizfile as to avoid identical or too similar names of any existing company.

To avoid any trade mark infringement search for trade marks at the Intellectual Property Office of Singapore (IPOS)
Avoid offensive, obscene or abusive names
Avoid names already reserved
Avoid names of a kind that the Minister has directed the Registrar not to accept for registration e.g. Temasek
Names in need of approval of an external authority (such as media, finance, law, bank) may delay approval time by up to 3 weeks
You can register a name online with your SingPass if you are a Singapore resident. Otherwise you require assistance of a professional company.

You will need to provide the SSIC code when registering your business. The SSIC or Singapore Standard Industry Classification code is ACRA’s way of categorising businesses. Search for the right SSIC code using ACRA's online search engine. See here for classification of Industries.

Decide on a Business Structure

In general, government approval is not required for foreigners to do business in Singapore and 100 percent foreign ownership is permitted. There are a few exceptions such as banks and other financial institutions, which require approval from the Monetary Authority of Singapore (MAS).

Foreign investment is fairly unrestricted and funds can be freely remitted in and out of the country.

The body monitoring the requirements of the Companies Act (CA) is the Accounting & Corporate Regulatory Authority (ACRA).

For details on the process of registration and incorporation see steps 1 - 4.

Check if your country of origin has concluded an investment protection treaty with Singapore for protection from expropriation and similar interference with their private property by the respective other state.

Depending on your status there are various ways to set up a business in Singapore as:

A foreign company who wants to register or incorporate a business in Singapore or as
A foreigner who wants to incorporate a company in Singapore.

Registration and Incorporation

Foreign individuals and entities are prohibited to self-register their own business, it is a mandatory requirement to hire a professional business registration firm.

All applications for the registration at ACRA ( Accounting & Corporate Regulatory Authority) must be submitted online via BizFile, ACRA's electronic filing and information retrieval system.

On registration of a business you need to provide a local address for your place of business which must be approved for business use by the Urban Redevelopment Authority (URA). While a P.O. Boxes cannot be used as a registered business address you may register a residential flat or property under the Home Office Scheme (HO).

We will purchase the Business Profile of the new company online at the same time of registration , when filling up the incorporation forms. Processing time is about 15 minutes from submission of all documents and all information. ACRA will issue a notice of incorporation via electronic mail to the law firm or professional firm engaged for the purposes of incorporation upon the successful incorporation of the company together with the registration number of the company.

If your application has been referred to another authority, it may take between 14 days to two months before you will be informed about the outcome of your application.

Special licenses are also required for the manufacture of goods such as cigars and firecrackers.

Business Permits and Licenses

Sometimes special licenses are needed to conduct a specific type of business and your registered company will have to apply for a business license such as.

Professional services such as doctors, lawyers, accountants, pilots, commodity future traders need an occupational license
Permits For certain types of business activities you need to apply for Business Activity Licenses
Certain types of business such as Private schools, travel agencies, childcare centers, foreign worker employment agencies need to apply for a Compulsory License for operating the business.
Note that there are also licenses required for certain employment matters, premises, outdoor advertising, public entertainment, communication, non residential TV licenses and Goods& Service Tax registration.

Taxation

Singapore has one of the most competitive tax regimes in the world and a number of interesting tax incentive schemes to attract investors. However, any research prior to where to establish a business operations would not be complete without a thourough investigation of the tax impact. This should reflect the following:

the tax aspects of the investor's home country
the tax aspects in the country where the investment is made
how the above tax regimes interact
the tax impact to the individual taxation of executives

Singapore adopts a 'territorial' basis of taxation, i.e. companies and individuals are taxed on Singapore sourced income. Foreign source (‘offshore' ) income is not taxable until received in or remitted into Singapore.

Tax exemption applies on foreign-sourced dividends, foreign branch profits, and foreign-sourced service income of the following conditions are met:

The headline tax rate of the foreign country from which the income was received is at least 15%
The foreign income was subject to tax in the foreign country from where it was received

A company is a tax resident of Singapore if the control and management of its business is exercised in Singapore. Foreign income earned by a Singapore company may be subjected to taxation twice - once in the foreign country, and a second time when the foreign income is remitted into Singapore.

Singapore has signed several Double Taxation Agreements (DTA) which serve to relieve double taxation of income and provide for reduction or exemption of tax on certain types of income.

Tax Services

Our services include GST , Singapore Income Tax Reporting and Tax Filing services

We provide guidance on

Tax Rates and Exemptions For Companies
Tax Rates and Exemptions For LLP
Tax Rates and Exemptions LP
Tax Rates and Exemptions For Partners
Tax Rates and Exemptions for Sole Proprietors
Incentives Schemes For Investors
Withholding Tax

Investment and Banking

The government has set up an agency - the Economic Development Board or EDB - to support its vision to make Singapore a "compelling global hub for business, investment and talent". EDB is the think tank for inventing and reinventing ideas to attract foreign investment in manufacturing and services and shape Singapore's future. In 1991 EDB Investments (EDBI) was established " to grow and catalyse new strategic industry pillars and strengthen existing engines of Singapore’s economy". The current focus (2011)is on the following sectors:

Biomedical Sciences
Clean Technologies
Digital Media

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