Could You Extend Your Business to Singapore?
Posted by GLOBAL CORPORATE ADVISORY PTE. LTD. on February 13th, 2017
The World Bank has listed Singapore as the best place to setup business, and this is not a first either. Across many parameters, Singapore has proven again that there can be no better place to establish a business. For businesses, growth has always been related to the expansion of presence to be available in different shores across the globe. For those who have missed out on the reasons for the spectacular success of Singapore as a business hub, here are a few compelling reasons. Also explained are the nature of professional assistance offered by corporate advisors for setting up business in Singapore.
Single window for tax and business registration
Many business houses shudder in apprehension at the thought of a mountain of formalities, many often a duplication of forms among various departments. Singapore has shown and led the way by introducing a single window system for registration and taxation. Singapore has embraced online tools and platforms for numerous services making it a breeze to complete formalities. Rather than having to patiently wait through the completion of cumbersome procedures, the Singapore model has greatly reduced the amount of time that goes into establishing businesses.
Get over teething troubles through expert professional assistance
Regardless of the scale of operations or nature of business, all entities undergo teething troubles, especially in a new location. It is always best to utilize the services of professionals who know all the rules and regulations and the processes. Rather than spending time and allotting budget for a team of employees to initiate the process, it is prudent to seek the services of professional corporate advisors who will ensure the seamless establishment of business.
Registration and opening of Bank Account
Businesses in Singapore are registered under 4 main categories – Sole Proprietorship, Partnership, Limited Liability Partnership and Private Limited Company. While the process is easy and simplified, it is essential to present the right documents and liaise effectively. Similarly, the opening of a Bank Account requires the fulfilling of formalities. Professional Corporate Advisors offer services to smoothly carryout registration and bank account opening, which are crucial to the business.
Assistance in special requirements
While setting up new businesses, it may become necessary to meet certain requirements such as obtaining employee passes. Corporate Advisors assist companies through liaison and administrative services. In circumstances where a local resource is mandatory for a business, the Corporate Advisors arrange for local resources to occupy that position to meet legal requirements.
ABOUT THE COMPANY
Global Corporate Advisory Pte. Ltd., better known as LCC Global, is one of the leading corporate advisory firms in Singapore. The company offers professional services, legal aid and consultation to Singapore residents and foreigners for setting up business in the country along with assistance regarding matters such as auditing, taxation, work pass application and corporate secretarial services.
