In general, after your Singapore company has been incorporated, you can start your business operations immediately. However, you may need to do some or all of the following if applicable to you:

·        Open bank accounts.

·        If your business requires one or more business licenses, you may need to obtain the relevant licenses first before you can commence your business activities.

·        Register for Goods & Services Tax (GST) if necessary. The registration of GST is not mandatory unless your annual turnover exceeds S$1 million. We provide GST registration services should you require.

·        If your company activities involve import and exports of goods, you will need to register and obtain a Central Registration (CR) number. The CR number is used in all import, export and transshipment permits, certificates and any other documents issued by Singapore Customs.

·        If you plan to hire any foreign employees, including yourself, your company will need to apply for an Employment Pass (EP) for that person. We can assist you with EP applications.

·        If you intend to hire local employees (Singapore citizens and/or permanent residents) you will need to open an account with the Central Provident Fund (CPF) Board. A percentage of the local employees’ salaries will be contributed to the CPF Board on a monthly basis as part of their retirement fund. For more details, please visit CPF Singapore. We can help you register your company CPF account and manage your staff payroll, if required.

·        You will need to decide on your company’s fiscal year end, which can be any date within 18 months from the date of incorporation of your company. It is recommended to keep it at 12 months to maximize the tax benefit.  

·        You will need to keep track of your income and expenses (bookkeeping) according to Singapore accounting standards. Depending upon the volume of transactions, we can provide Accounting Outsourcing Services either on a weekly, monthly, quarterly or yearly accounting basis.

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