We help you to setup your business in Singapore.
One stop Business Solutions Provider.
Let Bengal Management Pte Limited help you. We provide support to new entrepreneurs to register companies in Singapore. As a one stop corporate service provider we always get you free from all difficulties you are passing through for setting up a new company or your worries related to business registration in Singapore. Here our dedicated team is always for you to guide.
We are specialized in business formation and incorporation services of Private Limited Company, Limited Liability Partnership and Sole Proprietorship. Our key services related with Accounting and Corporate Regulatory Authority (ACRA) are:
Preparation of minutes for 1st Board of Directors meeting,
Preparation of minutes for Annual General Meeting / Extraordinary General Meeting
Preparation of Bank Resolution for opening bank account in the name of Company provided Bank approves.
Preparation of Constitution of the Company – Memorandum and Article of Association
E-stamping share transfers
Issuing Share Certificates – to be signed and sealed by Directors
Bank account opening assistance
Free consultation for accounts and related basic compliance of Company Act.
Monitoring of ACRA - for AR (Annual Return)
Passing of resolutions for any change in Company Profile - change in name, address and business activities of the Company, its shareholders and directors; shareholdings and share capital structure etc.;
Lodgement with ACRA of such changes as per resolution passed with
Maintenance of the register of controllers/nominee director
Company set up for foreigner with a nominee director
First time CPF setup, registration and submission.
Distribution of dividend
Striking of a Company
ACCOUNTING AND BOOKKEEPING
In Singapore the financial statements have to be prepared in accordance with the Singapore Financial Reporting Standard (FRS) as required by Singapore Companies Act, Chapter 50.
To comply with the above requirement book-keeping and accounting records are very important.
Book-keeping is the process of keeping records of all financial transactions of the business and preparing financial statements such as balance sheets and income and expenditure statements whereas Accounting is the process where a company’s financials are recorded, summarized, analyzed, consulted, and reported on to ensure statutory compliance. This also provides investors and management with quantitative financial information which can be used in making business decisions.
If it is beyond your budget to hire a qualified and experienced accounts clerk, you can avail of our budget accounting services on a monthly / quarterly, half yearly basis, which is certainly worth the money. These services are reliable and very confidential. We support our clients keeping accurate records of all business transactions as required by Authorities in Singapore.
Our Dedicated professional team provides you the above services to fulfill the statutory requirements. The services include the following accounting activities.
a) Journaling the transactions
b) Purchase and sales register
c) Cash and Bank book
d) General ledger
e) Customers and supplier registers
f) Bank reconciliation statement
g) Fixed assets register
h) Trail balance
i) Profit and loss statement
j) Balance sheet
k) Changes in equity statement
l) Cash flow statement
To fulfil our commitments toward accounting services, we require some of your important basicbusiness documents:
Bank Statements (monthly)
Salary vouchers (local and foreigners)
CPF Statements – monthly (if any)
SDL Statements – if paid separately
FWL Statements – monthly (if any)
GST quarterly statements (if any)
Fixed assets purchase invoice (if any)
Hire-Purchase Agreements (if any)
Any Grants / payouts or incentives
Tenancy agreement – (if any)
Business profile of the Company -ACRA
Inventories list taken on the last day of financial year.
Used Cheque Book Counterfoils (if any)
Previous year Financial Statements (if new client)
Notice of Income Tax Assessment of the Company (for the previous 2 years)
Any particular document explaining a business transaction for accounting entry
In our accounting service system, we generate Aging Reports for Debtors and Creditors. We advise for cash flow projection, financial management, business planning and forecasting and many more under different varying situations.
In case the Financial Statements are subject to statutory audit we establish lesion with Certified Public Accountants to comply with the statutory requirement
BUSINESS REGISTRATION / INCORPORATION
The main advantage of having a private limited company in Singapore is that it allows you to limit your liabilities exposure and thus guard your personal assets against prying creditors. We help in applying for licenses as required for your business.
Our expertise includes:
» Sole Proprietorship/Partnership
» Limited Liability Partnership
» Representative Office
» Branch of Foreign Company
» GST registration
» BCA registration and other licenses for Construction Businesses
REGISTERED OFFICE FACILITIES
A registered office address refers to the place where all communications and notices to the company are addressed to, and the place where the company’s register and records are kept.
We provide the special facility to our clients to use our prestigious office address at a very nominal charges who do not establish a separate place of business of their own in Singapore. In addition, we maintain our valued customers’ office files with safe and secured management. The documents like invoices, quotations, bank statements, CPF statements, Foreign workers Levy documents, income tax papers etc.
This way, you are left with extra time on your end to concentrate on enhancing your business and meeting all the goals.
AMENDMENTS / CHANGE OF PARTICULARS
We assist with Changes/ Amendments such as Shareholding and Share Capital for following entities
Limited Liability Partnership
Singapore Companies Act (Sec 171) requires a company to appoint a company secretary to comply with the all statutory duties of the Company. The appointment must be within 6 months from its incorporation date.
A company secretary must be a natural person and locally resident in Singapore.
The sole director of a company and the company secretary cannot be the same person.
We as a Company’s corporate secretary support our clients with all required statutory duties and responsibilities at a very nominal fee.
NOMINEE DIRECTORSHIP SERVICE
If a foreigner wants to set up a Company in Singapore, we facilitate the local person as nominee director at a very competitive rate of director’s fee.
It is important that the financial report be prepared by a Certified Public Accountant (C.P.A.) registered with the Institute of Certified Accountants of Singapore. We help in generating audited & unaudited financial statements and analytics on your transactions.
If a Singapore Company meets all of the following criteria, it is an Exempt Private Company (EPC) according to Singapore’s Companies Act and it is eligible for enjoying audit exemption:
There are no corporate shareholders,
The number of shareholders is less than 20, and
Turnover of the company is less than S$5 million
However, all Singapore private companies are still required to prepare unaudited financial reports in a format complied with the requirements of Companies Act and FRS (Singapore Financial Reporting Standards). This is for submission to the relevant authorities such as ACRA (Accounting and Corporate Regulatory Authority) and IRAS (Inland Revenue Authority of Singapore). Therefore, to save time and costs, it is important that the financial reports are prepared by a CA (Chartered Accountant) registered with ISCA (Institute of Singapore Chartered Accountants) to ensure compliance with the requirements of the relevant authorities to minimize any unnecessary subsequent amendments. We help clients compile the unaudited financial reports to meet the requirements of relevant authorities.
Government imposes tax on income generated by businesses and individuals within their jurisdiction. Virtually all business decisions today have tax implications. Practical and well-crafted tax solutions are now a critical part of an effective business strategy. Our tax services include:
Management of accounting and income tax structures
Monitoring of IRAS - for Corporate Tax filing deadlines
Auto-inclusion service – individual income tax submission
Tax planning and its computation
Filing ECI to IRAS,
Submission of Form C and C-S,
Attending tax queries raised by IRAS
GST Registration and filing quarterly report to IRAS
Payroll & Payslip Generation
Staff Email Accounts and Team Collaboration Software
Work pass (Employment Pass, Work Permit, S Pass, Letter of Consent) processing
VALUE ADDED SERVICES
Advisory to run business in Singapore
Digital Marketing Platform
Website for your new business
Company Email & WFH Apps
SMS, Email & WhatsApp alerts
Open Business Bank Account with any bank in Singapore
Open CSN Account with CPF (Central Provident Fund) Board
EP/ WP Accounts with MOM
Please do approach us if you need assistance with the following.
Management of all types of business licenses
BCA Registration and license for construction company
Branch of Foreign Company
Singapore business advisory services
Short Term and Long -Term Visa Applications