It may take 1 month to 4 months to register a new company, depending on whether it has to be approved or reviewed by another government department.
While beginning a business for the first time, there is a lot to study and consider when registering. Details on the application procedure and deadlines for each step of the application process.
Documents must be created and presented in accordance with governing body requirements. Delays or unsuccessful applications throughout the company formation procedure can interrupt your business venture’s debut, goals and strategy.
We will create and fill up all required paperwork for you. The papers will be stored on a secure cloud server that you may access from anywhere.
A Company Secretary must be appointed within 6 months after establishment to guarantee compliance with Section 171 of the Singapore Companies Act, Chapter 50. The Company Secretary must also be a natural person based in Singapore. A company’s only director cannot also be its secretary. Directors that fail to fill this post within 6 months risk a $1,000 fine.
The Company Secretary is vital in the yearly filing and reporting of the corporation. Accounting records must be prepared and kept in order. The organization must comply with all laws and regulations. The AGM (annual general meeting) deadline is sometimes missed, resulting in late filing costs of up to $600 depending on the business type. Because non-compliance may result in company shutdowns, Singapore takes compliance seriously.
As a skilled staff with many years of expertise, we assist you in timely filing of all mandatory reports. Your papers are stored securely on a central cloud server where you may view them all. Annual reporting is now stress-free and error-free.
Accounting is a specialized field that requires unique skills and knowledge. Studies reveal that up to 40% of company owners spend 80 hours on a year’s worth of overdue accounting. 80 hours is 2 weeks if no additional chores are required. Managing daily business operations may be daunting, particularly for small organizations where the owner is often the company’s jack of all crafts. They must manage customer service, logistics, sales, and company growth.
Many challenges may develop during everyday company operations, leaving little time to manage the accounting portion of the firm. Consistent bookkeeping entries minimize many mistakes and time waste during annual financial close. For example, you may conclude several transactions in 80 hours by employing pros instead of conducting your own accounting. Accounting is one of the many company processes that may benefit from automation. Invoices, reports, costs, income, and payments may all be generated 24/7 using a cloud-based accounting service. We will also assist you save money on taxes and other expenses so you can re-invest in your company.
Traditionally, launching a new company strategy takes 3 to 6 months, including planning, reporting, and execution. However, advances in technology such as artificial intelligence (AI) have lowered the turnaround time to 1 to 2 months. So it’s no surprise that AI has entered our everyday lives. People are using Facebook recommendations, robo-advisors, Siri and chat bots. Everything being digitally available makes our lives so much simpler.
Using big data sets and clever iterative processing algorithms, AI learns and gives insights from the data. Agility and innovation are essential in today’s turbulent corporate landscape. Our AI reports are 98 percent correct, with a 2% anomaly owing to the technical jargon utilized. These studies give important insights on financial performance, industry trends, and how to enhance company strategy in less time.
We believe in offering value to our customers and these reports are available 24/7 on a secure cloud-based server for financial forecasts, recruiting, and resource allocation.