Asiabizservices Discusses On Post Incorporation Details
When it comes to post-incorporation phase, every business should open a corporate bank account in Singapore...
by Ashley Varghese Sunday, April 03, 2011
Asiabiz Services is based in Singapore assisting foreign companies and investors in matters concerning business, work visas, and compliance requirements.
“When it comes to post-incorporation phase, every business should open a corporate bank account in Singapore,” begins Asiabizservices.
Asiabiz assists businesses by providing a list of banks in Singapore, along with requirements for opening, and facilities.
“A few documents required are a certified copy of the company’s certificate of incorporation, a certificate copy of a memorandum and articles of association, a copy of the passport of foreign investors or proof of residence, and business profile,” Asiabizservices adds.
The business profile is issued by ACRA following the completion of company registration.
Business licenses and permits are another post-incorporation requirement.
“Before a business starts operating, it ought to obtain corresponding business permit and license in Singapore,” explains Asiabizservices.
Examples of permits are for activities such as major renovation or construction and permit to occupy after the renovation. The place for business must also be zoned for commercial uses and the compliance to applicable codes is updated.
Other permit includes those secured from public utilities board for installation of grease traps for the restaurant kitchen.
Licenses include fire safety, workplace safety health, and license obtained upon completion of WSQ Basic Food Hygiene Course.
“The business permits and licenses are applied as necessary based on the nature of operations,” says Asiabizservices continuing to elaborate.
The validity of the licenses varies from one year to five years depending on its type.
In addition, under certain conditions, a company may register for GST with IRAS and become eligible to collect GST from its clients.
“GST registration is not obligatory to all companies, but there are companies that are welcome to register on a voluntary basis,” chimes Asiabizservices.
Moving on, if a business involves an importation or exportation trading, Customs Number must be sought from authorities.
Asiabiz assures that in availing of its services, each post-incorporation requirement is satisfied. The process for complying with every requirement is tedious particularly the business licenses and permits.
About the Publisher:
Asiabizservices offers one-stop business solutions to companies, particularly, those that are managed and owned by foreign investors. Since its inception, Asiabizservices has successfully helped foreign entrepreneurs form a Singapore company. Among its specializations are Singapore company setup, corporate services, accounting services, nominee services, company registration, whether as a sole proprietorship, private limited, limited liability partnership; offshore company formation, incorporation of foreign companies either as a branch or subsidiary office, accounting services including payroll preparation and more.
Asiabizservices is the leading provider of Singapore Company Incorporation services and has successfully helped thousands of both local and foreign entrepreneurs incorporate a Singapore Company. It also provides chartered secretarial services.
For more information visit:
AsiaBizServices PTE LTD
Address: 120 Telok Ayer Street Singapore 068589
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