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How to register a business in Singapore?

Discuss your views about Singapore business & economy, current policies & issues, starting a business in Singapore.
hauyoga
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Location: EAST COAST

How to register a business in Singapore?

Postby hauyoga » Fri, 27 Feb 2009 12:51 am

Hi there,

Anyone can advise me how to register a business here. I am thinking to register my Yoga studio but do not know the procedure and also the local law, tax...

Thanks in advance

kwekjustin
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Joined: Sat, 22 Nov 2008
Location: Upp East Coast

register biz in sg

Postby kwekjustin » Fri, 27 Feb 2009 5:47 am

Hi, hope I can ans ur Q

Go to www.acra.gov.sg and look for the address

think of a nature of biz, and name of Co whether a private ltd or sole proprietor

if private ltd, then after registering, u will be given a slip to open a current acct in any banks, best to be a local bank like ocbc as they give better trade facilities in future

then go back and submit to acra, wait 2 weeks for approval and voila!

if ur biz sales profit in bank acct exceeds $100k per month then u will need to pay gst, lower than that not required too

get a accountant to do ur sums before financial yr and declare taxes

maintain a healthy balance at end of each mth, and make sure adequate in & out deposit vs withdrawal in ur biz bank acct, no more than 3 return cheques

so when economy picks up, u can take up a loan with ur bank and expand biz.

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hauyoga
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Posts: 10
Joined: Thu, 26 Feb 2009
Location: EAST COAST

How to register a business in Singapore?

Postby hauyoga » Fri, 27 Feb 2009 8:56 am

Thank you very much. Really appreciate. Have a good day


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