Singapore Expats

International Business Planning Advice Needed

Discuss your views about Singapore business & economy, current policies & issues, starting a business in Singapore.
Post Reply
User avatar
Strong Eagle
Moderator
Moderator
Posts: 11632
Joined: Sat, 10 Jul 2004 12:13 am
Answers: 9
Location: Off The Red Dot
Contact:

International Business Planning Advice Needed

Post by Strong Eagle » Thu, 28 Feb 2008 10:43 am

As my company grows and expands into multiple Asian countries I find I need help in arranging my corporate financial strategies. To date I have found people who know Singapore tax law or I face paying large quantities of dinero to one of the big three/four.

I'd like to know if there is anyone out there who would (for a fee, of course) provide me with strategic planning on the following inter-related topics.

a) Which of my companies should take responsibility as the contract entity when signing a contract in a given country.

b) How should invoicing be handled and by which company for a variety of scenarios.

c) How do I minimize taxes that must be paid for corporate income and for taking money out of a country, while insuring that I meet minimum requirements to qualify for work permits.

d) What is the optimum treasury set up for my company. Should the bulk of cash be held by my holding company or in the operating companies. How (and should) I sweep company accounts for cash management purposes.

e) How should I handle expenses incurred in various countries - by each company or other means.

I want to end up with a strategy and recommendations document that I can use to structure my financial and accounting systems and to train my bookkeepers how to handle entries.

If you are such a person or know one who is I would be greatful for a contact.

Many thanks.

User avatar
ksl
Governor
Governor
Posts: 5989
Joined: Mon, 19 Jul 2004 8:52 pm
Location: Singapore
Contact:

Post by ksl » Thu, 28 Feb 2008 5:19 pm

I understand your concern, however there are actually many variables, and decision, that you are going to need to take.

Although for it to be more streamlined, one must first separate and identify industry procedure. Is your business service or manufacturing?

For you to employ, someone would set you back more than you would expect to pay, because of the professionals, that need to be consulted, I doubt very much, that you will gain much peace of mind, only knowledge, through paying for information, to be collected and formulated into something you may only use, 30% of. Your own Peace of mind will dictate, the strategy employed.

Its not difficult to see, you have the ability and mind, to make the right decisions, providing you can visualise the complexity of expansion, You need to be working more closely, with your chamber of commerce, for specialised consultation, of which they can refer you to the professional assistance, that can answer, with alternatives open, for strategic planning

I will post a few links, that I think may help you, to determine, factors, that should be looked into, before you decide about paying someone to formulate a document, your strategies, needs to give you peace of mind, and to remain flexible for change, as and when required for each Country of involvement, the most challenging position for yourself, will be the co-ordination, and the day to day functioning of satellite companies.

You will be needing an operations room and a map, you will need to see, with your eyes, just like in anyother chess game, the overall picture of developments. strategies will be different from Country to Country, based on the variables for each Country, until your business resources can compete financially in an International environment, of which is the goal.
Technical hindrances to maximise financial strength, will appear in different markets, so professional contacts and knowledge in each market, will be required, this is were the chamber of commerce comes in handy.

Don't under estimate competitors, my personal opinion, would be for you to delegate all the responibilty to the individual Countries, and like a kind of franchise take the royalities for further investment.

In the surrounding Asian Countries, I would say, that all Contractual agreements, should be assigned to the headquarters of Singapore, where legal strength and ethical behaviour, is considered, the safest.

You may wish to do some searching on the links, for some of your international questions.

http://www.thefreelibrary.com/Globalisa ... 0166537374

You may qualify for Singapore expansion grants to overseas or guidance, in the growth of your Company here. (I'm not sure) pick the brains of those, that know, inside the establishment if you can, networking or joining an association in the same industry normally pays off, over a round of golf!

Singapore Chamber Of Commerce for networking and International trade information

http://www.sicc.com.sg/whower_index.html


SMU take on projects of which are subsidised, I think by 80%. Below i searched out one report, of which is based on export assistance of which I can relate to, although when i did my export project on Shrink wrapping machines many years ago. we didn't expect Companies to have to pay for the reports, like they do here in Singapore.

Simply because, experience is lacking, however, reports are very useful, and much time and effort is put into the collection of international data and business analysis, so that strategies maybe evaluated.

You could consider giving SMU the project on the best strategy for your company, to cover the points of your concerns, through SMU Singapore at a fraction of the real cost of collecting the same data. A 12 week study on individual markets should reveal, everything you need to know, for penetrating, each market you take on, at less than 1/20th of the true European price.
https://mercury.smu.edu.sg/rsrchpubuplo ... 090704.pdf

Export of Services and consultation
http://www.iesingapore.com/

I'll post other links that may have your interest, as and when i find them.

User avatar
Strong Eagle
Moderator
Moderator
Posts: 11632
Joined: Sat, 10 Jul 2004 12:13 am
Answers: 9
Location: Off The Red Dot
Contact:

Post by Strong Eagle » Thu, 28 Feb 2008 9:52 pm

Thanks for the reply. My business is simple. I supply professional services. I have no assets, no facilities. My product is brainpower and solutions.

I've no need to place any facility anywhere. I have a strong need to minimize tax consequences of earning and moving money from a country other than Singapore.

The laws are arcane when it comes to repatriation tax, corporate income tax, capital contribution for work permits, earnings requirements for work permits and a lot more.

I _could_ find this information. I want to find someone who has already been in the position of CFO or other relatively high place in a company that knows how this works.

User avatar
ksl
Governor
Governor
Posts: 5989
Joined: Mon, 19 Jul 2004 8:52 pm
Location: Singapore
Contact:

Post by ksl » Thu, 28 Feb 2008 11:04 pm

Strong Eagle wrote:Thanks for the reply. My business is simple. I supply professional services. I have no assets, no facilities. My product is brainpower and solutions.

I've no need to place any facility anywhere. I have a strong need to minimize tax consequences of earning and moving money from a country other than Singapore.

The laws are arcane when it comes to repatriation tax, corporate income tax, capital contribution for work permits, earnings requirements for work permits and a lot more.

I _could_ find this information. I want to find someone who has already been in the position of CFO or other relatively high place in a company that knows how this works.

SE I think you would likely make more headway with an introduction to a CFO through networking with the Chamber of Commerce, here in Singapore, is your best bet, they normally have contacts avaiable for this kind of advice. Sorry i couldn't help you more!

mobilelaptopnet
Member
Member
Posts: 35
Joined: Thu, 08 Jun 2006 3:14 pm
Contact:

Post by mobilelaptopnet » Thu, 13 Mar 2008 11:10 pm

what busiess are u running?

abby

User avatar
Strong Eagle
Moderator
Moderator
Posts: 11632
Joined: Sat, 10 Jul 2004 12:13 am
Answers: 9
Location: Off The Red Dot
Contact:

Post by Strong Eagle » Fri, 14 Mar 2008 5:46 am

mobilelaptopnet wrote:what busiess are u running?

abby
http://www.catalystprojectsolutions.com

Winxkid
Chatter
Chatter
Posts: 195
Joined: Wed, 11 Apr 2007 6:04 am

Post by Winxkid » Mon, 17 Mar 2008 1:53 am

woot! nice project. a trendy industry :D
petsgdirectory.blogspot.com

Post Reply
  • Similar Topics
    Replies
    Views
    Last post

Return to “Business in Singapore”

Who is online

Users browsing this forum: No registered users and 10 guests