Top 5 Reasons Why You Should Hire A Corporate Services Firm In Singapore

Choosing Singapore as your business location is undoubtedly one of the best investment decisions you will ever make in your entire entrepreneurial career. Next to London, Singapore is the world’s top destination to operate a business.

Here are some advantages of setting up your business in Singapore:-

i. Technological readiness

ii. Robust transport Infrastructure

iii. Easiness in doing business

iv. Tax-friendly policies

v. Strong and corrupt-free government

vi. High literacy rate

vii. Free-trade agreements with many ASEAN countries

viii. Short distance to many Asia capital cities

Such a competitive business location is not without its share of challenges, though, which could make it quite difficult for interested parties looking for company incorporation in the Asian cosmopolitan city.

For one, you need to incorporate your business the proper way in compliance to the rules and regulations of the land. Whether you’re a start-up or an existing business looking to expand to thriving locations, incorporating your business is a must to ensure that you won’t get in trouble with local authorities. You need to comply with the regulatory policies of the country’s Accounting and Corporate Regulatory Authority (ACRA) to avoid fines or worse, having your business shut down even before it starts.

Setting up shop in Singapore also means having to contend with endless paperwork and investing so much time and effort in doing so. Even with such a tedious process, most companies would opt to doing everything on their own — indeed a daunting task for any start-up or existing business as this puts you at risk of overlooking some important paperwork or processes that need to be done in order to run a legitimate business.

In the face of these challenges, start-ups and existing businesses need to consider hiring professional corporate services in Singapore to ensure hassle-free company incorporation as well as to outsource other corporate requirements that ensure a more efficient business operation.

What Is A Corporate Services Firm And How Can It Help In Singapore Company Incorporation?

Corporate services providers in Singapore are entities that offer professional services to meet the company administration requirements of a business. These companies can act on behalf of the company to execute certain administrative functions that ensure legitimate and efficient business operations.

If you’re a start-up or an existing business looking for Singapore incorporation services, you can benefit from the knowledge and expertise of these specialised companies. Here, we share five great reasons why you should consider enlisting the help of a corporate services provider when putting up a business in Singapore.

1. You save time and effort in doing tedious paperwork

The process involving company incorporation as well as company registration can be taxing for any entity looking to establish business operations in Singapore. The time, effort, and paperwork needed to accomplish everything is no walk in the park. Aside from this, you might miss out on some steps or documents that need to be completed if you do everything on your own.

Local incorporation firms can help sort this out for you with their knowledge and expertise in incorporation procedures. Corporate Services Singapore, for example, offers fast and hassle-free company incorporation with a process that only takes six simple steps — from choosing your business name down to accomplishing your annual regulatory compliance requirements. As it is registered with ACRA, you can rest assured that your company incorporation filing needs will be handled on time and professionally.

2. You benefit from other corporate services

On top of benefitting from their Singapore incorporation services, corporate services firms likewise offer a comprehensive suite of other services to help you run your business with ease. Sure, you can hire an in-house team to do that, but the expertise and experience of local companies offering such services can give you peace of mind, knowing they can walk you through all the laws and legalities pertaining to your business to avoid any complications or irregularities in the future.

Besides incorporation and business registration, most corporate services firm also provide secretarial services, payroll and accounting services, taxation, and audit and assurance assistance.

3. Your business requirements are handled by experts

Navigating Singapore’s strict business rules and regulations will be a breeze if you enlist the help of professionals who have years of experience in Singapore company incorporation. Some even specialise in offshore company incorporation if you’re seeking to take advantage of the country’s tax exemptions.

Corporate Services Singapore, for instance, can help you register and incorporate your offshore company with its streamlined approach. It is a must to seek the assistance of such experienced professionals as, under the Singapore Companies Act, non-residents are not allowed to self-register their offshore businesses.

4. You get to focus more on running your business

Outsourcing your corporate requirements to a local firm gives you more time to concentrate on your business operations. You don’t need to worry about payroll, accounting, or taxation deadlines as you will have the right support needed to meet these requirements. One less thing to worry means better efficiency and productivity in managing your business and looking for more ways to boost your profit.

5. You mitigate costs and risks

Getting a local firm to take care of your business requirements saves you not only time but money as well, as the comprehensive suite of services it offers gives you more value for your money. On top of this, you reduce the risks of encountering irregularities and legal impediments which could otherwise occur when you take matters in your own hands.

Some local firms like Corporate Services Singapore even offer personalised, more customised services to ensure that your unique business requirements are met with utmost care and expertise.

Hiring a corporate services firm is your ticket to business success in Singapore. Weigh the pros and cons, of course, before you decide. At the end of the day, what matters most is ensuring that your business will have a competitive chance in one of today’s most dynamic business hubs.