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Best and reliable company incorporation service company in Singapore

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bak_kwa
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Best and reliable company incorporation service company in Singapore

Post by bak_kwa » Wed, 23 Jan 2019 1:36 pm

I am looking to engage a company incorporation services firm for setting up a firm here in Singapore. Searching on Google throws up results for many such companies / firms which offer such services and hence I am seeking advice on which amongst those many companies could be a good and a reliable company to approach for my needs.

Thanks in advance,

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Re: Best and reliable company incorporation service company in Singapore

Post by ComingSoon » Wed, 23 Jan 2019 6:07 pm

I wouldn't worry about the incorporation aspect of the work. It's hard to mess up registering a company.

Usually when an accounting firm does the incorporation they take on a lot of other tasks, too. They'll do your accounting, bookkeeping, payroll, corporate secretary, and so on. These tasks are important for your business and should be considered carefully.

You'll probably be with your accountant for many years, so choose wisely. Cost is always a factor, but don't make it your only consideration.

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Strong Eagle
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Re: Best and reliable company incorporation service company in Singapore

Post by Strong Eagle » Wed, 23 Jan 2019 10:41 pm

Any CPA can fix you up, and for a lot less money than the incorporation firms. One caveat: If you want a rented director, you'll need to use one of the incorporation firms.

It's very easy to setup companies in Singapore. Cheap, too. The only reason you want the CPA is to make sure you have all the correct documents in place to stay within the legal requirements.

PM me if you want my accountant. She doesn't rent out directors, though.

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Re: Best and reliable company incorporation service company in Singapore

Post by bak_kwa » Thu, 24 Jan 2019 7:34 pm

Thanks Coming Soon and StrongEagle,

Is it not a mandatory procedure by ACRA that a company incorporation services firn need to be engaged for registering a new company in Singapore?

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Re: Best and reliable company incorporation service company in Singapore

Post by ComingSoon » Thu, 24 Jan 2019 8:35 pm

bak_kwa wrote:Thanks Coming Soon and StrongEagle,

Is it not a mandatory procedure by ACRA that a company incorporation services firn need to be engaged for registering a new company in Singapore?

Regards
If you are already local then I think you can do it by yourself. There's no requirement to use a company incorporation firm.

Many people use an accounting firm to do it for them because the cost is often part of a package, and they can do it in a day. Also, you'll probably need an accounting firm for other things. For example, company secretary services, etc.

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Strong Eagle
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Re: Best and reliable company incorporation service company in Singapore

Post by Strong Eagle » Thu, 24 Jan 2019 10:14 pm

bak_kwa wrote:Thanks Coming Soon and StrongEagle,

Is it not a mandatory procedure by ACRA that a company incorporation services firm need to be engaged for registering a new company in Singapore?

Regards
No, it's not. But unless you are yourself knowledgeable, you'll want the services of a CPA who is knowledgeable with the Singapore Companies Act.

You can go online at ACRA, choose a company name, pay the $325, name a couple of directors, and get a company setup. You can even use the standard boilerplate Memorandum of Incorporation document available on the ACRA website as your founding document.

You will need to maintain a corporate record of AGM's and EGM's as well as directors resolutions... this is how the business and decision making of a pte ltd is handled. This is why you want the CPA. I don't what they charge these days but it used to be around $600 plus the filing fee to get you setup with all your legal records, ready to go.

If you have more than one director, you don't need a company secretary, one of the directors can be secretary. Again, unless you are familiar with the Companies Act, you'll want a CPA in behind you to make sure you fulfill secretarial duties correctly. If you have only a single director, then you must have an external secretary, something most CPA's will do. The cost depends upon the volume of activity.

Unless you are getting a rented director from one of these companies, no CPA will care very much about your books or your activities. They don't have fiduciary responsibility. But if you get a director, the company will demand to manage and view all aspects of your business because their director is on the hook for your actions.

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Re: Best and reliable company incorporation service company in Singapore

Post by bak_kwa » Fri, 25 Jan 2019 2:01 pm

Thanks Strong Eagle,

Honestly I am still a novice in terms of setting up a company and the related procedures to go with the setting up. Hence I may have to take a help of some Singapore company incorporation firm.

In this regards, I wonder whether you have any opinion on SBS Consulting (www.sbsgroup.com.sg) which is a Singapore company incorporation firm in terms of their services. They charge around SGD 670/- for all the services rendered (the charges vary or may be less depending upon what all services are demanded of them).

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Re: Best and reliable company incorporation service company in Singapore

Post by Strong Eagle » Fri, 25 Jan 2019 10:50 pm

I don't know anything about the company. However, their website quotations for incorporation and secretarial services seem to be in line with what I recall as reasonable.

One thing to watch out for. Make sure that any contract you sign does not obligate you to take other services from the company, for example, they will require you to use them as a bookkeeper and auditor if they setup your company for you.

Again, any competent CPA in Singapore knows how to setup a company, can do it for you, and knows all the documents that need to be filed, and when.

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Re: Best and reliable company incorporation service company in Singapore

Post by bak_kwa » Mon, 28 Jan 2019 12:43 pm

Thanks Strong Eagle....i will definitely watch out for any unnecessary services that i may be obligated to.
Since you seem to be suggesting the services of a CPA does that mean they can do everything that is being done by a typical Singapore company incorporation firms at a significantly reduced price ?

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Re: Best and reliable company incorporation service company in Singapore

Post by Strong Eagle » Mon, 28 Jan 2019 12:58 pm

bak_kwa wrote:Thanks Strong Eagle....i will definitely watch out for any unnecessary services that i may be obligated to.
Since you seem to be suggesting the services of a CPA does that mean they can do everything that is being done by a typical Singapore company incorporation firms at a significantly reduced price ?
bak_kwa - Unless you are a complete carrot, you could go online to ACRA right now, get out your credit card, and form a company. It's all online. You name your company. You name at least one normally resident director. You provide a copy of your memorandum of incorporation. You pay the $300 or or so and you have a company.

ANY CPA that doesn't know how to setup a company should be disbarred. So, yes, a CPA can setup all this stuff, and a lot more. As for expense, the company you posted is inline for what the average CPA would charge.

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Re: Best and reliable company incorporation service company in Singapore

Post by bak_kwa » Thu, 31 Jan 2019 9:37 am

OK Strong Eagle...got it.....As I write, work is in progress in getting my company started. Thanks :)

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