Singapore is one of the leading markets in the world to set up a business. With its political stability and attractive corporate tax rates, various overseas companies are looking to set up their offices on our sunny island.
Whether you are a foreign or local entrepreneur, you may have some questions about the procedure regarding the formation of your company. There are several business structures available in Singapore, each with its own incorporation requirements. Therefore, it is best to seek out the advice of an incorporation service provider to help you with your application. Let us share the importance of choosing the right incorporation provider so your business can have a solid foundation to build on and avoid potential legal issues.
1. Reduce business risk
There are risks involved with every business, and savvy entrepreneurs do their best to minimise them. One of the various risks a business can face is non-compliance, which your company may be exposed to if it is not registered correctly. However, enlisting the aid of an incorporation provider can help you eliminate this issue.
At Ackenting Group, we provide hassle-free incorporation services to meet the needs of our clients. We understand businessmen are busy people, so we aim to help our clients set up their companies reliably and efficiently. Our experienced team is thorough and goes through every detail to ensure your business meets every incorporation requirement.
We also offer a suite of tax and accounting services to help with your company’s tax planning so you can have peace of mind knowing your accounts comply with Singapore’s stringent corporate tax laws.
2. Provide professional expertise
The corporate laws and regulations in Singapore are subject to constant changes. Suppose you are an overseas entrepreneur looking to start up a business venture in the country. In that case, you should consider outsourcing this process to an incorporation provider. A foreign incorporation team may not be up to date on the country’s latest corporate laws, which may expose your business to unnecessary risks.
A local team is well-versed with the ins and outs of Singapore’s corporate laws, and they constantly keep themselves abreast of the latest changes. They can also guide you in filling out the various documents you are required to submit when setting up your business, which a foreign team may be unfamiliar with.
3. Provide cost-effective solutions
Hiring and maintaining a legal team to manage your company’s issues can strain resources, especially for small to medium enterprises who may not have sufficient capital to dedicate a portion of their budget to such matters. That is where an incorporation provider can step in and help.
They have a dedicated team of experts familiar with the individual tasks required to set up a business in Singapore. As such, they can provide companies with a one-stop solution to all their incorporation needs. Furthermore, their services are also on-demand, so you only need to hire them when you require their expertise. This decision to outsource your incorporation needs can save you the cost of recruiting a legal team.
4. Focus on your business
Registering your business requires you to understand the corporate laws of Singapore and sift through its various documents and requirements. Trying to handle the whole process independently can be time-consuming, and this time can be better spent focusing on your core business operations. Outsourcing your incorporation needs can free you to focus on the thing that matters the most to you – your business.
Conclusion
Starting up your business is undoubtedly challenging, especially if you are unfamiliar with the registration process. Failing to meet compliance regulations can expose your business to various undue risks. Therefore, it is crucial for any business, local or foreign, to seek out the right incorporation provider who can help simplify and speed up the whole procedure.
If you require any assistance on accounting services, feel free to drop us an email at johnwoo@ag-singapore.com or contact us at +65-66358767. At Ackenting Group, we offer a complimentary 30 minutes online consultation for us to better understand your business requirements.
