Singapore has one of today’s most competitive business environments, thanks in part to being named second-leading financial hub in the world. For any company looking to establish a solid presence in Asia, Singapore is a good platform to further strengthen its global influence. That being said, a company needs all the help it can get to keep up with intense competition this side of the globe. Securing the assistance of a corporate services provider in Singapore should be considered to help you hit all of your business targets quickly yet accurately.
What Is A Corporate Services Firm?
A corporate services firm in Singapore is a professional service provider engaged in company administration business. It is officially licensed by the Accounting and Corporate Regulatory Authority (ACRA) to handle a company’s administrative requirements to ensure a just and legitimate business operation.
Singapore corporate services firms has experts that are highly trained and well-equipped to handle administrative requirements with accuracy and efficiency. These employees have the expertise and experience necessary to execute administrative duties, and they are continuously trained to enhance their skills as well as to keep abreast with the rules and regulations as mandated by ACRA.
Enlisting the help of a corporate services firm is a wise move if you’re looking to ensure timely compliance with all of ACRA’s legal requirements. Aside from this, a corporate services firm removes administrative duties from your plate, so you can concentrate further on looking for more clients and increasing your income – in short, helping you grow your business and achieve your financial targets.
How A Corporate Services Provider In Singapore Can Help Efficiently Manage Your Business
Singapore Corporate Services
Most corporate services firms in Singapore offer a plethora of services that covers essentially all administrative functions of a company. From forming your company to handling your monthly payroll, you can depend on Singapore corporate services providers to help streamline your business operations.
Here are six services corporate services firms offer that you should consider checking out to effectively manage your business.
1. Company incorporation
Corporate services firms primarily offer incorporation services that involve helping new companies form their businesses by filing the necessary incorporation requirements with ACRA. With the help of a Singapore company formation services, you can easily start a business in the country in just three days.
Company incorporation firms like Corporate Services Singapore offer fast and hassle-free incorporation through their all-inclusive solutions that walk you through everything you need to know and accomplish to easily incorporate your business. From choosing your business name to handling your annual compliance requirements, you can trust these professional service providers to keep your business legally running and operating smoothly for years to come.
2. Company secretarial service
This is one solution that new companies should definitely consider, since Singapore is quite strict when it comes to compliance with regulatory requirements. Appointing a company secretary post-incorporation is crucial to ensure that your company timely and efficiently handles all the tasks involved in corporate compliance.
Hiring a corporate services provider in Singapore to handle your company secretarial needs ensures that you stay on top of all your corporate requirements, such as annual return and tax filing and maintenance of statutory records and registers, quickly and in an efficient manner as these will be handled by experts who have years of experience in executing secretarial duties. This means an extra pair of hands to help in effectively managing your business as you focus more on exploring more opportunities to grow it.
3. Accounting services
Singapore is quite strict as well when it comes to proper accounting and bookkeeping, and it will serve you well in the long run to hire a competent accountant who knows how to maintain your records and keep them compliant with the rules and regulations under the Singapore Companies Act and Income Tax Act.
A new company cannot afford any error when it comes to its financial records. Getting a highly qualified accountant from a professional Singapore company formation services firm ensures that you religiously adhere to the industry standards in accounting and bookkeeping, which in turn, allows you to get access to timely financial information while effectively practising transparency on the current state of your company.
4. Audit and Assurance
As a new company, you absolutely want to reflect credibility and transparency in all your business dealings. A Singapore corporate services firm helps ensure that by providing audit services that are efficient and impartial, allowing a company to improve its business operations.
Most corporate services companies have partner auditing firms that conduct systematic approaches to internal auditing, handled by experienced chartered accountants accredited by ACRA. These experts handle financial reporting while providing you with valuable risk management advice that can help enhance your business performance.
You can depend on a corporate services provider firm in Singapore to handle your monthly payroll and other HR duties that align of course with your company policy and statutory requirements.
By hiring an expert to handle your payroll, you ensure that you strictly comply with the Singapore Employment Act while making sure that your employees are satisfied through on-time salary disbursement. With a professional service provider handling your payroll process, you get to simplify administration of your business.
Singapore requires companies to be 100% tax compliant, and having a Singapore company formation services firm handle your tax requirements ensures that you adhere to tax return filing promptly to avoid penalties as well as benefit from its tax planning strategies that ensure you manage your taxation requirements efficiently.
Securing the services of a local firm can do wonders for you, if you seek to improve your business operations, and ultimately, take your company to the next level. With a professional services provider handling your administrative and legal requirements, you can concentrate better on what you do best – that is, leading your company to success.