Corporate Company Secretarial Singapore

0 comments

Posted on 11th September 2011 by Charlie in Corporate Secretarial

CORPORATE/COMPANY SECRETARIAL

For all the local register company, it is required to appoint a Company Secretary whose main duty is to advice the Board of Directors all matter pertaining to the company as accordingly to the company Act Chapter 50.

When you engage KC Ha Consultancy to act as your company secretary, you engage a qualified Certified Public Accountant (CPA) Singapore, who is familiarize with the company act and can advise and ensure the Company statutory compliance to the Companies Act.

As a company Secretary to our clients, besides the primary duty as stated above, we also provide free consultation pertaining to Accounting and Taxation issues, and all other regulations pertaining to setting up a business in Singapore. Most Secretarial firms in Singapore do NOT provide these services for FREE.

Our Corporate Secretarial Service includes:-

-     Advice Director and Share holders their duties and power
-     Preparation and Filing of AGM (Annual General Meetings) & AR (Annual Returns in XBRL with ACRA). Monitor and also inform on their filing to ensure datelines are met and your company is compliant with the company law and company Act.
*     Under Section 175 of the Companies Act, a local company is required to hold its first Annual General Meeting (“AGM”) within 18 months of its incorporation and at the AGM, the directors shall present the company’s accounts that comply with the requirements of the Accounting Standards.
*     Under Section 197 of the Companies Act, the company is required to file its Annual Return with the Registrar within one month after the holding of the AGM.
-     Preparation of Company Resolutions and Lodgment of changes with the authorities (ACRA) for any company changes such as in Directors, shareholders, company shares, address, bank signatories etc.
-     Closing / Striking off of Companies
-     Assistance in opening of corporate bank account
-     E-stamping of share transfers

Company Formation and Incorporation in Singapore

0 comments

Posted on 11th September 2011 by Charlie in Business Registration Singapore

COMPANY FORMATION / INCORPORATION

A company is a business entity registered under the Companies Act, Chapter 50. It has a legal personality i.e. it has rights to own properties, it has perpetual succession and it can sue or be sued in its own name.

The Requirement and Benefit of Setting up a Private Limited Company are as follows:

- A Private company has 50 or less shareholders and restricted rights in share transfers

- Must consist of a director who are a Singaporean, Permanent Resident or a person who has been issued an Employment Pass, EntrePass or a Dependant Pass

- Enjoy the benefit of limited liabilities

- Enjoy Corporate tax exemption for up to SGD$100,000 profit for its first 3 years of business.

- Not require to Pay CPF if you are drawing Director fees.

- Time for the Incorporation of a Private Limited Company take about 1 to 2 days, together with the preparation of company Memorandum & Articles and Association (MAA)

Business Registration in Singapore

0 comments

Posted on 11th September 2011 by Charlie in Business Registration Singapore

BUSINESS REGISTRATION in Singapore

KC Ha Consultancy can assist you to register a Business registration with the Accounting and Corporate Regulatory Authority (ACRA) as according to the Business Registration Act (Cap. 32).

A business firm is a much simple form of setting up a business, as it required low setup cost, has low maintenance fee, It can be either a sole proprietorship or a partnership. Registration is normally done within 30 minutes.

And if you have already registered a Business for sole proprietorship / partnership with ACRA and now wish to convert it to a Private Limited company. We can also assist you to do a conversion.

Sole Proprietor (self-employed)
- A Business firm owned by one company or an individual who is Singapore Citizen or Permanent Resident running a business on his/her own behalf
- All the profits generated by the business will belong to the sole-proprietor
- Pay Personal income tax on the profits generated by the business
- Required to contribute to CPF Medisave (Individual rate between 6-8%)
- The sole proprietor has absolute say in the running of the business firm

Partnership
- Consists of more than one person
- May have between two and twenty partners
- All partners have equal rights in the management of the partnership
- Unlimited liability
- Foreigner only can register if there is a Singapore local resident manager
- Pay Personal income tax on the profits generated by the business
- Required to contribute to CPF Medisave (Individual rate between 6-8%)

Limited Liability Partnership
- Has the flexibility of a partnership, with the benefit of limited liability
- Minimum of 2 members
- Each member’s personal income is derived from profits and are taxed at personal income tax rates
- Compulsory to appoint a local manager

Singapore Bookkeeping Services: 4 Reasons Why Smart Business Owners Outsource Their Bookkeeping Tasks

0 comments

Posted on 27th May 2011 by Charlie in accounting for services |singapore bookkeeping services

, ,

Looking for professional yet affordable bookkeeping services in Singapore?

Look no further because we offer a comprehensive range of accounting and bookkeeping services for your newly established company. Your yearly accounts information will be handled by our Accountants for submission to ACRA and IRAS.  We specialize in maintaining a timely accounting system that allows you to manage your accounts cost effectively.

Bookkeeping is a must for all businesses. If not done regularly on a daily, weekly and monthly basis, you would not know whether your business is doing well or are in a declining state.

If you are a small or medium-sized business company, your business MUST be able to keep track of your sales, revenue, costing, marketing, etc. That will mean the debit and credit entry of your business.

All companies that are registered in Singapore must keep proper books of accounts as stated by the Singapore Companies Act. Proper bookkeeping not only facilitates day-to-day accounts maintenance and drafting of financial statements for the submission of annual returns, but it also provides insight for sound business decision-making as well as efficient financial management.

4 Reasons Why Smart Business Owners Outsource Their Bookkeeping Tasks:

•    Save on Accounting Costs.
•    Focus on Your Core Business. Off-load non-core functions.
•    Create More Revenue. With Current Staff.
•    Grow your Business. Beat Competition.

KC Ha Singapore Bookkeeping Services provides full spectrum of accounting services for companies that wish to outsource their bookkeeping tasks.
When you engage our Bookkeeping Service in Singapore, you will be assigned an accounts manager who will work with you personally on your business accounting needs.

Based on the financial documents (sales orders, purchase orders, expense notes, bank statements, etc) you submit to us on a regular periodical basis, your personal accounts manager will review and organize the information submitted to create and maintain your accounts ledger. The accounts manager can also help you draft financial statements in accordance with the Financial Reporting Standards (FSR) for statutory submissions.

Our Bookkeeping Service includes but not limited to the following accounting functions:

•    General Ledger Maintenance
•    Accounts Payable Ledger Maintenance
•    Accounts Receivable Maintenance
•    Bank Reconciliation
•    Fixed Assets Ledger Maintenance
•    Cash Flow / Budgeting
•    Financial Statements & Reports Monthly, Quarterly, Year-End Review
•    Books Cleanup
•    Management Reporting
•    Financial Analysis

Your dedicated accounts manager will also help monitor statutory compliance issues, and work with you to ensure you understand all the accounts reports.

Call us to discuss more on how we can help you manage your accounts and be in compliance with ACRA and IRAS