Real Estate GST for Company Owners

With the exception of residential properties, the sale and lease of all properties in Singapore are subject to GST. Anyone buying a commercial property will be required to pay the 7% GST on the purchase price. However, if the individual is the owner of a registered company, the GST amount paid on the purchase of a commercial property may be claimed back, as long as guidelines set out by the Inland Revenue Authority of Singapore (IRAS) are fulfilled.According [...]

Licences & Permits Issued by National Environment Agency (NEA)

With effect from 1 April 2019, all food-related services, notably Food Shop, Stall, and Hawker Licences, have been transferred to Singapore Food Agency (SFA). However, if your business operation involves handling of waste and hazardous materials, the following list offers a quick glance of the licences and permits you may require from NEA.Application for Registration of Public Health Pesticide & Repellents Against VectorsCleaning Business LicenceCoffin PermitEnhanced Clean Mark Accreditation SchemeEnvironmental Control Officer CertificateFumigation PermitFumigator LicenceFuneral Parlour LicenceGeneral Waste [...]

Licences & Permits Issued By Montetary Authority of Singapore (MAS)

In Singapore, financial institutions in the banking, capital markets, insurance and payments sectors are regulated and overseen by MAS. The following is a quick glance of the licences and permits you may require, if your company belongs to any of the above-mentioned categories.Application for Authorised Reinsurers & Approved MAT Insurers: A person carrying on reinsurance business outside Singapore may apply in writing to MAS for authorisiation in section 34 of the Insurance Act (Cap. 142) (“IA”) Application for [...]

Incorporating a Non-Profit Entity in Singapore

A non-profit entity is an organisation that does not distribute or share its profits or surplus income to its shareholders. Instead, the surplus is re-invested to expand and grow the organisation. The primary goal of a non-profit entity is to carry out projects and render services that benefit society at large. There are more than 200 registered non-profit entities in Singapore operating in the main cities such as Tampines and Choa Chu Kang.The three most common legal structures for non-profit entities [...]

How to register a company successfully in Singapore

Singapore is known for providing an ideal business environment for businesses in different niches. Currently, more than 19,000 international companies and 7,000 multinationals have established themselves on the island nation. Low corporate tax rates, eight limited treaties that focus on income generated from air and ship transport enterprises, flexible foreign company rules and no capital gains tax are some of the key incentives that motivate entrepreneurs to start a company in Singapore.Taking careful note of the following two steps will help [...]

Basic Requirements of Incorporating a Company in Singapore

Singapore attracts thousands of international companies to its shores due to the many incentives that the government offers. Based on a recent study, Singapore is among the top-rated countries to do business in, has the most comprehensive intellectual property protection regulations, and it is rated the best foreign investment destination in Asia.Tax incentives also motivate international companies to do business in the country. Some of the incentives and exemptions that you will enjoy in the country include:You will [...]

Relocating Your IT Business to Singapore

If you are an entrepreneur who values IT innovation and simplicity in conducting business, Singapore is one of the best countries to expand your company. The Singapore government has put in place measures to attract tech start-ups and investors into the country. By relocating your business to this county, you will enjoy one of the most comprehensive and robust intellectual property protection and tax policies. The policies favor not only the large business but also the small and medium [...]

VentureHaven’s Company Registration Services

SHOULD you be searching for a trustworthy accounting firm to complete your company registration for you, look no further as VentureHaven Singapore is committed to serving you to your utmost satisfaction. At VentureHaven, we pride ourselves on providing the best Singapore company registering services available. VentureHaven ranks among the top as one of the most renowned and reputed accounting firms in Singapore. We have been in business for 8 years and are still going strong. Singapore company registering services are one [...]

Understanding Foreign Company Registration Options in Singapore

Singapore is no doubt the most preferred destination in Asia region by many international businesses and investors. The country is well endowed with essential resources that open it to the various lucrative regional markets. Other factors that make it ideal for foreign companies include lucrative consumer markets, unlimited investment hotspots, and affordable resources.Let us proceed and look at the various options available for international companies that wish to get registered and incorporated in the country. Subsidiary Company Based on the current [...]

Singapore Company Incorporation Process and Facts

Here is a brief overview of the minimum requirements of incorporating a private limited company in the Singapore. 1# Shareholding Unlike in other countries, business associates who are not citizens of Singapore are allowed to hold 100% ownership of a business. Though not mandatory, the firm assisting you to register your business can act as a nominated shareholder in the company. 2# One Local Director According to the current company incorporation regulation, one of the company directors has to be a citizen of Singapore. 3# Company Secretary All [...]

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