Q: How do you define Singapore Resident?
A: A Singapore Resident is someone who is residing in Singapore and holds a VALID work pass / employment pass or someone who is either a Singapore Citizen or Singapore Permanent Resident. To simplify, a Singapore Resident is someone who is legally allowed to work or run a business in Singapore with a local residential address.
Q: How do you define NON-Singapore Resident?
A: A NON-Singapore Resident is someone who is not residing in Singapore and does NOT hold any VALID work pass / employment pass and is neither a Singapore Citizen nor Singapore Permanent Resident. To simplify, a NON-Singapore Resident is someone who is legally NOT allowed to work or run a business in Singapore.
Q: What do I need to provide if I wish to set up a “Pte Ltd” company?
A: You will need to provide us with:
Q: What do I need to provide if I wish to set up a Sole Proprietor?
A: You will need to provide us with:
Q: What do I need to provide if I wish to set up a Partnership?
A: You will need to provide us with:
Q: What do I need to provide if I wish to set up a Limited Liability Partnership (LLP)?
A: You will need to provide us with:
Q: I am a foreigner and I wish to set up a company/business/LLP in Singapore, how do I proceed if I DO NOT hold any valid work pass to work or do business in Singapore?
A: You have 2 options:
We can provide a nominee Director should you be unable to get a locally resident Director for your company.
Q: How do I apply for a valid work pass to do my business in Singapore?
A: If you wish to be or need to be actively involve in the running of your business in Singapore, you may apply for an EntrePass (Entrepreneur Pass) through the Ministry of Manpower.
Q: If I DO NOT need to be actively involved in the running of my business in Singapore and DO NOT wish to apply for EntrePass, can I still incorporate a company or registered a business or LLP here?
A: Yes you can. You may appoint a locally resident Manager (for Sole Proprietor, Partnership or Limited Liability Partnership) or locally resident Director (for Pte. Ltd. Company). “Locally resident” means a person who is a Singapore Citizen, Singapore Permanent Resident, EntrePass holder, Dependent Pass holder and resides in Singapore.
Q: How can I find out if I need a licence for my type of business?
A: You may check with the relevant authorities for their requirement. Alternatively, you may log on to www.business.gov.sg for the required information.
Q: Why do I need to appoint a Company Secretary?
A: It is a legal requirement under section 171 of the Companies Act for all Pte. Ltd. Companies to appoint at least one Company Secretary within 6 months of incorporation.
Q: Who can be my Company Secretary?
A: The directors must reasonably ensures that the Secretary is a person who appears to them “to have the requisite knowledge and experience to discharge the functions of secretary of a company.
If the company is a single director company, then the director cannot aslo be the secretary of the company.
Q: What are the duties of a Company Secretary?
A: In general, the Company Secretary maintains the Company`s statutory registers; assist in the allotment and issuance of shares; preparation of minutes for Company`s Annual General Meeting (AGM); change financial year end; declaration of Directors` interest; change of particulars of Directors, Managing Director, Secretary and Auditors as well as other compliance matters with regards to The Companies Act Cap.50.
Q: Can I ask my Company Secretary to do administrative duties such as running errands, typing letters, etc?
A: These duties are NOT within the scope of duties of the Company Secretary. However, we have a service package called “Virtual Personal Assistant” which can provide such services if subscribed.
Q: Who can help me attend to my company`s accounting duties and compliance?
A: We provide professional accounting services and can assist you in the matter. Alternatively, you may engage an audit firm or professionally qualified accountant to do the same.
Q: How often do I need to do my company accounts?
A: You may have your company accounts done on a monthly basis, quarterly basis or even yearly basis, depending on your preference.
Q: Who can assist me in the compliance of Singapore`s Tax regulations?
A: If you engaged our accounting and tax services, we can assist you in this matter. Alternatively, you may engage an audit firm or professionally qualified accountant to do the same.
Q: I do not need to rent an office for now, who can provide me with a business address and handle to my mails?
A: We provide Business Address and Mail Handling service for customers like yourself whom do not require an office (you may look under our “Registered Office” page).
Q: I am currently under contract with another service provider, how do I sign up with you if I wish to subscribe to your Registered Office Address service before my existing contract with the other service provider expires?
A: You do not have to wait till your existing contract expires to subscribe our Registered Office Address service, you are still able to sign up with us now without incurring any additional costs because we will only charge you from the date where your existing contract expires. Which means that you can start using our Registered Office Address service immediately and completely FREE till the expiry of your existing contract. You should however give notice to your current service provider in accordance to the terms and conditions which you had previously signed with them. As a form of service, we can assist you in the termination/cancellation process with your current service provider.
Q: What about if I wish to subscribe to your other available services and how may I go about doing so if I am currently with another service provider.
A: For all our other services, you still can sign up with us first but there will notbe any free period of use and you will need to give notice to your current service providers in accordance to the terms and conditions which you have signed with them and, similarly, we can assist you in this process.
Q: I had signed up for your Registered Office Address service but my Company and Business have been inactive and I have no letters sent to your office. Do I need to pay for your Registered Office Address service?
A: Yes. You are required to pay for our Registered Office Address service because the Registered Office Address service, as the name suggests, is subscribed for use as your Company`s or Business`s Registered Office Address in the records of ACRA. As long as the records of ACRA bears our ADDRESS as your Company`s or Business`s Registered Office Address the service is deem rendered and utilised by you. It does not require your Company or Business to be active or your mails to be sent to us for this service fee to be payable.
Q: If I wish to terminate your services, how do I go about doing so?
A: For termination of services, you are required to give us a written notice of one or two months depending on services (verbal, email, fax and sms notice are invalid) in accordance to our terms and conditions which you had agreed upon subscription of our services.
Q: I had appointed you as my Company Secretary but my Company had been inactive and you have yet to perform any duties as I have not requested or instructed or delivered the necessary for the performance of your duty. Do I need to pay for your Company Secretary service?
A: Yes. You are required to pay for our Company Secretary service because the Company Secretary service fee, is a retainer fee for named Secretary in the records of ACRA. As long as the records of ACRA bears our Name as your Company`s Secretary, the service is deem rendered and utilised by you. It does not require your Company to be active or duties to be performed by us for this service fee to be payable.
Q: I had provided a two months written termination notice as required for the termination of your Registered Office Address service but why am I still being billed for the Registered Office Address service?
A: As described in the terms and conditions, in order for such termination notice to be valid and effective, you are required to cease usage of our Registered Office Address service within the notice period (removed from the records of ACRA or close the Company or Business).
The service fee will remain applicable and payable until such time where you ceased usage (based on the records of ACRA).
Q: I had provided a One month written termination notice as required for the termination of your Company Secretary service but why am I still being billed for the Registered Office Address service?
A: As described in the terms and conditions, in order for such termination notice to be valid and effective, you are required to remove our Name as Secretary within the notice period (removed from the records of ACRA).
The service fee will remain applicable and payable until such time where you ceased usage (based on the records of ACRA).
Q: If I had subscribed for your Registered Office Address service for use as my Society`s Registered Address with ROS and not for Company or Business use and not found in the records of ACRA, does the terms and conditions for termination of services apply to me as well?
A: Yes. The terms and conditons for termination of Registered Office Address service apply to Societies registered with ROS (Registry Of Societies) as well. You are required to ensure that it is removed from the records of ROS or to close the Society within the notice period or the service fee will remain applicable and payable.
For services not displayed or if you have any queries, please email us at info@wba1971.com or contact our friendly Consultants at +65 6 CALL WBA (6 2255 922).
