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Lawyer fees excessive?

Discuss your views about Singapore business & economy, current policies & issues, starting a business in Singapore.
guest

Postby guest » Sat, 21 Aug 2004 12:20 pm

NBB wrote:
guest wrote:
I'm still a guest here on this forum ... pardon my intrusion. But I just have to put in my two cents worth and can't bear to see other fellow business entries being taken for a ride ... especially so when they are foreigners. I bear the same sentiments with start-up companies when I entered 3 years ago and am definitely one who would raise hell for just cause. :) If my postings do offence, I apologise, as they're not meant to be.


Dear Guest,

I'm sure you can find cheaper places, esepcially in combination with DIY. But I like to outsource this stuff fully, no worries for me. Besides, the vibes with that biz were good, and other people have to make a living too, right?

It's a choice I made, based on a referral. So far I have no complaints. And I will complain if sloppy work is done, believe you me.

But could I justifiably complain if I'd gone on the cheap instead? I probably could, but it would make sweet F.A. of a difference, no skin of their back; serves me right, after all, for trying to squeeze water out of a pebble. Hey, I like that analogy, just made that up. :-)

NBB


Dear NBB,

I like your style of a 'win-win' situation and I do believe as well that other people do have to make their living. No thought at all trying to "squeeze water out of a pebble" :) But being expensive doesn't necessarily be good or convenient.
Some reasons I believe for high prices especially in SG:-
1) fancy outfit (rental)
2) fanciful organisational structure - 'overpaid' and/or overstaffed.
3) overstated 'qualifications' (mr/ms know-it-all)
4) to 'support' their directors extravagant lifestyles.
5) the mindset of foreigner being the 'walking bank', and foreigner having the consideration that "other people do have to make their living too"
6) etc etc etc (it could offend some people on this board :))

Well, I guess it depends whether you are buying the actual products or services, or the 'lifestyle'. I had once paid about the same amount of money (a company within CBD area) to incorporate my first company with the view of not wanting hassles and 'paying' for their expertise. I didn't get that and had since changed to another company (outside CBD area) of which I didnt even have to haggle at all over price. They're not DIY mind you, and price is less than half of what I was paying over the first one. I'm very satisfied with their service so far, much nuch less hassles and therefore deduced that those hassles that I got then were their SOP and 'unreal' as they have to justify the amount of work or work processes they have to do, with the fees they charge.

And business life is much simpler now :)

ppaul
Newbie
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Posts: 4
Joined: Sun, 01 Aug 2004

Postby ppaul » Sat, 02 Oct 2004 2:28 am

http://..com/ is a company who does this service for competative price.

Chicken Shit

Legal Fees Excessive

Postby Chicken Shit » Sun, 05 Dec 2004 7:21 pm

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The fees quoted are based on individual firms estimation of the complexity of your case. Sometimes a new company with demands, would cost more expensive. Those who wish simple incorporation can always take from off the shelf types of company and they cost a breeze.

So if you want to get good help, you pay. One writer asked you to go to big law firm, the cost will be S$3000 to S$5000 - and that is worst. So this writer who asked you to go to bigger firm, is obviously not doing you justice > You will be surprised that big law firms are not too personal and they clock every second/minute / hour of conversation with you and you have to pay more more and more.

my 2 cents

Postby my 2 cents » Tue, 07 Dec 2004 10:55 am

hi op,

i don't know your exact requirements but heres waht i did and maybe it can help.

visit www.acra.gov.sg for details on how to set up a pte ltd or biz by yourself, no agent required.

visit www.bizfile.gov.sg to apply for a pte ltd or biz registration. you need something called a singpass. you can find details on how to apply for singpass at bizfile.

you pay only registration costs which add up to 300+ (can't remember). everything can be done online, no need to visit them. you need an office address. if your business is small and will not employ more than 2 people you can register your home as your office.

to register your home as your office you must get approval from URA. visit ww.ura.gov.sg no fee payable or a very small fee (can't remember).

this is only possible if you are a singaporean or hold an EP. if not none of this possible. this is the most cost effective route for you to follow if your company can be set up after you arrive in singapore.

if you still prefer that someone do it for you and not charge you the moon, they do it all and will provide you registered office address, co secretary, auditing and book keeping etc.

cheers and post back here on what you have chosen and your company secretary.

my 2 cents

Postby my 2 cents » Wed, 08 Dec 2004 8:23 am

ho ho ho Merry Christmas!! :)

Just read the date on the original post. NBB if you're reading this, what did you do?


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