Certificate of Incorporation
You’ll receive an email automatically from the Company Registrar after process finishes. The email confirms that your company is registered and informs you of your Company Registration Number. It provides an official certificate of incorporation so don’t lose it. Paper Certificates are not used in Singapore. If you want so, pay Singapore S$50 fee, the Company Registrar will give it to you. The processing time is from 3 to 5 days usually.
Company Business Profile
After the company registration in Singapore is completed, the Company Registrar will create a company business profile. LegalRaasta will secure this for you. The downloadable PDF file contains key information, including:
– Company name and registration number
– Previous names for the company, if any
– Incorporation date
– Principal activities
– Paid-up capital
– Registered address
– Shareholders details
– Directors details
– Company Secretary details
You can operate the business and fulfill the pending formalities when you receive the email notification and business profile in Singapore.
LegalRaasta will also help you to get ready for the following necessary items:
– Share certificates for each of the shareholders
– Share register indicating shares allotted to each of the shareholders
– Company seal for the company
– A rubber stamp for the company
Opening a Corporate Bank Account
Singapore has many fine banks in i.e. HSBC, Citibank, Standard Chartered, DBS, UOB, and OCBC. You have a wide choice of banks in Singapore. Choose according to your needs. Don’t worry LegalRaasta help you with that. If you come here, you can tour each bank, evaluate its facilities and see if the people working there meet with your approval.
Applying for Business Licenses
Are you engage in certain business activities in your company corporation, then you might need concerned business licenses also. This applies to companies that perform activities related to:
– educational institutes
– travel agencies
– financial services
– import/export of goods
– employment agency
Goods and Service Tax (GST) Registration
LegalRaasta certainly hopes your annual company revenue will exceed S$1 million. Then you need to register for GST, which is value added tax or sales tax. Once you receive your GST registration, you get to charge your customers an additional 7 percent for the goods and services you provide. You have to transfer this extra money to Singapore Authorities. If your annual revenue is below S$1 million, you don’t need to obtain GST registration.