Company incorporation services
Are you looking for help to incorporate your business in Singapore? You have come to the right place! ST Accounting & Consultancy provide a range of services from Company formation to all types of solutions for your business.
ST Accounting & Consultancy could provide you with professional advice on the forms of business organization that is most suitable to the nature of your business.
You can refer to this quick checklist to ensure that you are aware of the different forms of entities:
- Definition of the different forms of business organization
- Ownership of the business organization
- Legal structure of the business
- Registration Requirements
- Set-up fee and expenses
- Singapore Income tax for the different forms of business organization.
Should you require further clarification, please feel free to speak to us.
If the above looks cumbersome and gives you headache, we can rest assured that the procedure to incorporate a business with us is fast and easy. Simply book an appointment with us and provide the following documents:
1. Three to five desired names* of your business
2. Description of principal activities
3. Local business address for the proposed business** (When required, with approval from relevant authority)
4. Copy of Singapore ID for the owner/ Copy of passport for owner who is a foreigner
5. Local residential address
6. Declaration of compliance and Statement of Non Disqualification
7. Paid up capital
Optional – Add on
– Your free domain name if you would like to set up a website for your business
– Building a website for your business (Starts from $300)
*Business name -Business owners may choose any name for business so long as the proposed name is not:
– Undesirable (vulgar, offensive, obscene, prohibited)
– Identical to the name of a business entity on the register
– Reserved under the Business Names Registration Act
– Restricted i.e. a name which the Minister has directed the Registrar not to accept for registration e.g. Temasek
**P.O box address is disallowed. Do not worry, STAC will be there to help you set up your business.
Speak to us if you are looking out for an office or factory as your business address.
How about the Home address scheme?
There are two types of home business schemes, you can operate either a small-scale business under Home Office Scheme or conduct informal home-based business activities under Home-based Small Scale Business Scheme from the comfort of your home. You will need to follow HDB/ URA guidelines to ensure that the residential ambience and surroundings are not affected.
For homeowners who wish to use home address as their business address, it is advisable to seek prior approval before the commencement of business although application for Home Office Scheme can be submitted before or after business/ company incorporation with Accounting and Corporate Regulatory Authority Singapore (ACRA).
Seeking approval for the Home Office Scheme
For HDB homeowners, eligible flat owners/occupiers may seek prior approval by submitting their application via HDB website.
For private residential property, owners may seek prior approval from URA by submitting their applications online via URA website.
Acceptable Businesses under the Home Office Scheme
· Accountancy services
· Architectural services
· Consultancy services (e.g. business, engineering, IT/ management, education etc.)
· Design/ advertising services
· Transportation services
· Estate agency
· Insurance/ financial planning services
· Technology-based/ knowledge-intensive business
· Trading office
Non-acceptable Businesses under the Home Office Scheme
· Beauty, hairdressing, or massage therapy services
· Business by building/ renovation contractors
· Car trading business
· Card/ palm reading or fortune telling in any form
· Commercial school (e.g. music school, language school, tuition centre, etc)
· Conducting of dress making/ embroidery lessons
· Courier business
· Food catering/ restaurants
· Funeral chapels or homes
· Maid/ employment agency
· Ophthalmic dispensary/ pharmacy/ medical/ dental clinic or veterinary medicine
· Repair of household appliances, electrical products, footwear, etc.
· Sales/ marketing that involves conducting seminars/ talks for large numbers of customers
· Shops and any form of retail activity, including pet shops
· Manufacturing, preparation, or processing of products and/ or goods such as:
o Food products
o Wood and/ or paper products
o Pharmaceutical products
o Food chemicals
o Joss sticks
o Camphor products
o Rubber products
o Domestic appliances
o Watches and clocks
o Other related products
For business permissible under the Home office scheme, you may use the flat as an administration office, and the flat address for business registration with ACRA. Homeowners is allowed to engage up to two persons who are not residents for their Home Office business.
For such cases, any business activities carried out in the flats must be administrative. All other business activities are to be conducted elsewhere, and no clients or customers are allowed to visit the flat.
If your business has no external employees and is operating under the Home-based Small Scale Business Scheme, no prior approval is required from HDB. As this is the case, please take note that the flat address cannot be used for business registration under the scheme. No advertising is allowed for the business, e.g. display of business signboard outside the flat and/ or on doors and windows, or advertising in newspapers or online mobile platforms.
Please refer to HDB website for more information.
If license is approved or no prior approval require from HDB or URA, the business will be incorporated within 24 hours.
After incorporating your business, STAC will provide you with the UEN number (Unique Entity Number) , Bizfile and any other documents e.g. Share Certificate, depending on the form of the business.
STAC will be there for your business, for any issue or enquires please do not hesitate to contact us.
For a free quotation and advisory, please contact us.
Thank you for your trust in STAC, we will definitely provide the best service to support your business. Save money and time, opt for a one-stop all bundle service from STAC, get in touch with us and we will provide you with the most reasonable price in Singapore.
Corporate Secretarial Services – Appointment of Company Secretary
Singapore has been one of the most efficient country for companies to set up their business in Singapore. No fuss, fast and easy.
Before setting up a company, you can approach ST Accounting & Consultancy for a free quote. The appointment of a Company Secretary is mandatory within 6 months from the date of its incorporation.
The company secretary must be residing locally in Singapore and may also be held liable in certain situations for the company’s failure to comply with the law.
Roles and responsibilities of a Company Secretary
One of the responsibilities of the Company Secretary is to prepare minutes for the meetings. These are records that the company has to maintain as per the Companies Act.
The Company Secretary also has to maintain and update the statutory registers, e.g.the register of substantial shareholders, register of members, register of transfers etc. as required by the statutory.
During the incorporation, it is best for the Company Secretary to participate and set out the Company Constitution as per the Companies Act. Please note that foreigners are not allowed to incorporate business in Singapore, kindly engage us to do the job.
After the company has been incorporated, the Secretary has to send out the first resolution/ meeting to the Directors and also abides the rules set out by the Constitution of the Company at all times.
The Company Secretary has to keep the company seal under their safe custody and also use it on documents when required as per the Constitution. The Company may also choose not to have the company seal as it is no longer mandatory under the Companies Act.
The Company Secretary has to ensure that the accounts of the company are prepared and filed with ACRA on time so that the Company do not have to pay late penalties/ late filing charges to the Registrar. Together with the accounts of the Company, the Company Secretary would have to prepare the AGM and necessary documents to file the annual returns with the Registrar. Filing of the return of allotment of shares, change of Company name and notice of appointment or resignation of a director are also the responsibilities of the Company Secretary.
The role and responsibilities of a Company Secretary has undergone drastic change over the years. It is no longer a position of mere providing administrative services but has provide value added services to the Company. Although the position of a Company Secretary in an organization is a requirement by the law but it also helps to promote good corporate governance in the company. A Company Secretary may monitor the risk of the Company and may improve its overall risk exposure.
Contact STAC to appoint us as your COMPANY SECRETARY.