Local and foreign individuals prefer to opt for private limited company registration. It is a tax-efficient and dynamic structure most suitable for business growth.
It can have 1-50 shareholders.
At least one director must be ordinarily resident (Singapore citizens, Permanent Resident, or an Entrepass holder).
Singapore corporate income tax is in the range of 0%-17%.
It has a separate legal identity from company shareholders.
It has perpetual existence.
It is a legal person having rights of a natural person.
It can buy or sell property in its name.
It can sue or be sued in its name.
The company is responsible for its losses or debts.
Transfer of ownership of shares is easy.
It is credible to investors, financial institutions, suppliers, & customers.
As a tax resident, a local private limited company gets all tax benefits and incentives offered by the authorities.
A foreign corporate entity can set up a subsidiary company to expand its business activities to Singapore.
It has a separate identity from its parent company.
The parent company can own 100% shareholding in its Singapore subsidiary.
A subsidiary is treated as a local company. It gets the tax benefits, exemptions, and rebates provided by the authorities.
A subsidiary is liable for its debts and losses. The parent company’s liability is limited to its share capital.
Account code system setup
Account Transactions Recording (including Journal Entry Recording)
Monthly, quarterly, half-yearly and yearly accounting
Accounts Payables
Accounts Receivables
Bank Reconciliation
Monthly, quarterly, half-yearly and yearly reporting
Profit and Loss Account (Statement of Comprehensive Income and Other Comprehensive Income)
Balance Sheet (Statement of Financial Position)
Statement of Changes in Equity
Cash Flow Statement
Directors Report /Compilation Report Preparation
Accounts Payables Ageing
Accounts Receivable Ageing
Journal
General Ledger
Preparation of Unaudited Financial Statements compliance with Singapore Financial Reporting Standards (FRS) including Director's Statement
Singapore Personal Income Tax
Singapore Corporate Tax
Singapore Goods and Services Tax
Singapore Property Tax
Singapore Stamp Duty Tax
Partnership and Personal Tax Filing
Management of Shares
Rule Reminders
Board Resolutions & Meetings
Maintain Company Registers
Filing of Annual Return
Filing of notice and changes
Preparation of Payroll report and payslip
Preparation of Form IR8A
Filing of Employment Income (Auto Inclusion Scheme)
GST Registration
GST Preparation
GST Submission
Application for company striking off
Balance Sheet (Statement of Financial Position)
Reports of Auditors
Income statement (Statement of Comprehensive Income)
Statement of cash flow
Directors’ statements
Statement of Changes in Equity
All Notes to the Financial Statements
Information denoted by a red asterisk in FS Manager.
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