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Trusted Accounting

One Stop Total



Providing Top Quality

As your business partner,
we will work together with you to make your
business more valuable.

Services in Singapore

corporate service

Singapore has established a thriving financial centre with an international reputation, serving not only its domestic economy but also the wider Asia Pacific region and in some instances, the world at large.
Singapore’s financial centre offers a broad range of financial services including banking, insurance, investment banking and treasury services.

A well thought out market-entry strategy is crucial to your overall commercial success.
Leveraging the local knowledge and connections of our team will ensure that your company accomplishes its business objectives and can successfully enter the local market.

Work Passes & Permits

1. Employment Pass

  • Qualifications

    Applicants must have a bachelor's degree or higher with at least a $3,900 (SGD) monthly salary

  • Preparatory documents:

    copy of passport, copy of bachelor’s diploma or higher and a resume listing work experience

  • Application Procedure:

    application outcome is determined in about three weeks, or three to four weeks when additional documents are requested)

2. S Pass

  • Qualifications

    a degree or diploma holder with at least a $2,300 (SGD) monthly salary

  • Preparatory documents

    copy of a passport, copy of bachelor’s diploma or higher and resume listing work experience

  • Application Procedure

    the application outcome is determined in about three weeks or three to four weeks when additional documents are requested

3. Work Permit

  • Qualifications

    Applicant’s age should be 18-50, whose nationality is either from The Republic of Singapore, Malaysia, China (including Hong Kong, Macao or Taiwan)

  • Preparatory documents

    A copy of your passport and an application form:

  • Application Procedure

    One working day for application approval, but only after a security bond is issued (a minimum of three days)

4. Personalised Employment Pass

  • Qualifications

    High-earning existing employment pass holder or overseas foreigner with at least a $12,000 (SGD) monthly salary

  • Preparatory documents

    A copy of your passport, bachelor’s diploma or higher, employment contract, past employment record, past three months of payroll and bank statements and a recent income tax report

  • Application Procedure

    Submit an application form and documents to SingPost, which takes eight weeks

5. EntrePass

  • Qualifications

    Within six months after its establishment, the corporation must have capital of more than $50,000 (SGD), and applicant must hold more than 30% of the company’s stake

  • Business type

    Complies with MOM application requirements

  • Preparatory documents

    copy of passport, past employment record, business plan, ACTA Biz File

  • Capital

    demonstrable local bank statement of $50,000 (SGD) or more

6. Dependant’s Pass

  • Qualifications

    spouse or child of EP/SP holders with at least a $6,000 (SGD) monthly salary

  • Preparatory documents

    a copy of your passport and family relationship certificate

  • Application Procedure

    EP/SP can apply at the same time

  • Dependent’s pass holders of EP holder are able to work with LOC
  • Dependent’s pass holders of SP holder are able to work with separate EP/SP/WP
  • The minimum salaries of SP/EP holders eligible for family visa application from 1 January 2018 (SGD):
    • DP Issued Minimum monthly salary: $6,000
    • LTVP Available Minimum monthly salary: $12,000

Licence & Trademark

To run a business in Singapore, you may be required to have a licence depending upon the purpose of your business. The following details contain important information regarding licences:

1. Foodshop Licence

  • Purpose

    The operation of a restaurant or cafe where there are retail sales of food and/or beverages.

  • Government Agency

    SFA (Singapore Food Agency)

  • Required documents
    • ACRA business certificate (BizFile)
    • CorpPass
    • Scaled Floor Plan
    • Tenancy Agreement
    • Planning Permission from URA
    • Cleaning Program
    • Pest Control Contract
    • Basic Food Hygiene Certificate

2. Liquor Licence

  • Purpose

    operation of a restaurant, bar, or cafe that sells liquor on its premises.

  • Government Agency

    SPF (Singapore Police Force)

  • Required Documents
    • ACRA business certificate (BizFile)
    • CorpPass
    • Planning Permission from URA

3. SFA Licence

  • Purpose

    Importation of food or kitchen utensils

  • Government Agency

    SFA (Singapore Food Agency)

  • Type of licence
    • Fresh Fruits and Vegetables
    • Meat and Fish Products
    • Processed food Products and Food Appliance
  • Required Documents
    • ACRA business certificate (BizFile)
    • CorpPass
    • Application form for GIRO : Corporate Account Information, Bank Signature

4. BCA Licence

  • Purpose

    Participation in government implementation, public sector construction, or request(s) from the main contractor, even for non-public construction

  • Government Agency

    BCA (Building and Construction Authority)

  • Type of Licence

    various type and level depending on construction

    • Construction Workheads (CW)
    • Construction Related Workheads (CR)
    • Mechanical & Electrical Workheads (ME)
    • Maintenance Workheads (MW)
    • Trade Heads (TR)
    • Supply Heads (SY)
    • Regulatory Workheads (RW)
  • Qualifications
    • Track Record
    • Paid-up Capital
    • Net Assets
    • Professionals: college major, work experience, completion of BCAs training

5. Cosmetic product licence

  • Purpose

    Supply and sales of cosmetics in Singapore must notify agency (no licence required)

  • Government Agency

    HSA (Health Sciences Authority)

  • Reporting information
    • Distribution company
    • Import company
    • Manufacturing Company
    • Warehouse
    • Product: brand name, product name, product type, ingredients

6. Trademark

  • Government agency

    IPOS (Intellectual Property Office of Singapore)

  • Processing (about six months):
    • Registration
    • Approval of letter in seven days
    • Post in the Trade Markets Journal for two months after four months of pendency period
    • Complete registration if no objection is made during posting period
  • Requirement
    • Determining whether it is a trademark of goods or services
    • Classification of goods
    • Classification_of_Goods_and_Services.pdf
    • Information about registrants or the company
      • Name and address of registrant or company
      • Contract person’s name, address, phone number, and email address
    • Descriptions for the abbreviation of trade mark, provide design file
    • Priority assertion: document that proves trademark is registered in other countries (registration date maximum six months ahead)

Accounting & Taxation

1. Bookkeeping

  • Manage monthly purchases, sales, and invoice
  • Prepare financial statements and income statement by quarter and by year
  • Compilation of financial report by year
  • Consolidation of a balance sheet between a branch and head office

2. Corporate & Personal Tax Planning and Filing

  • Tax Computation & Form C-S/C Submission
  • Estimated Chargeable Income report
  • GST (VAT) registration and quarterly report
  • Registration of PIC (Productivity & Innovation Credit) Claim and request for additional IRAS materials
  • Withholding Tax Report, IR37 Submission, execute payment
  • Certificate of residence submission
  • Dormant application submission
  • Personal income tax filing report

3. Audit

  • Audit Firm
  • Accounting audit support
  • Provide audit report
  • Outlet closing related sales audit
  • Make and report XBRL after audit

4. Consulting

  • Consultation on tax treaties between Singapore and other countries for double taxation
  • Consultation on transfer price
  • Tax consultation for non-residents under the Singaporean Income Tax Law

5. Singapore National Tax Services

  • Overseas local corporation statement (corporation tax law enforcement regulations) preparation agency
  • Establishment of overseas subsidiaries' financial statements (corporate tax law enforcement regulations)
  • Preparation of international trade specifications (Enforcement Rule of the International Coordination Law)
  • Loss transaction statement (corporation tax law enforcement regulations) preparation agency

Legal & Contract Issues

Company Setup provides one-stop solutions for legal issues via its network of Singapore-based lawyers, accountants, and tax and real estate experts.
We promise to provide affordable, accurate and prompt legal consultations from top experts in law, taxation, real estate and finance.

1. Establishing a Corporation

  • Serve as legal counsel for establishment and operation of corporation
  • Consultation on the composition of the board of directors, general meeting of shareholders and corporate governance structure
  • Legal consultant on venture business and special purpose companies
  • Registration of company establishment registration and other commercial registration(s); asset transaction registration
  • Legal advisory on liquidation and bankruptcy of corporations

2. Foreign Investment

  • Provide legal advice on foreign exchange transaction law
  • Offer consultation on foreign investment and establishment of overseas branch

3. Real Estate

  • Provide legal advice on real estate transactions
  • Serve as legal advisory on real estate investments and review contract

4. Tax & Customs

  • Provide legal advice on corporate tax, personal income tax, double taxation, etc.
  • Offer consultation on M & A of companies
  • Review, plan and check taxation strategy
  • Provide corporate tax consultation for foreign corporations


1. Features of Singapore Banks

  • As a major financial hub in Asia, Singapore has easy access to various currencies and banking options.
  • There may be differences in the criteria for an initial deposit, average maintenance balance, and submission of an application, depending upon which bank is used

2. Available Banks

  • Bank accounts in Singapore may be opened for private limited, branch, and offshore companies
  • Local Bank
    • Most branches and ATMs/Banks: OCBC, UOB, DBS
    • Most convenient and suitable for new companies
      • United Overseas Bank (UOB), DBS Bank
      • Oversea-Chinese Banking Corporation (OCBC)
      • Bank of Singapore (part of OCBC)
      • Far Eastern Bank (part of UOB), etc.
  • Korean Bank
    • Have the advantage of being able to communicate in Singaporean
    • Convenience of remittance through same system between other Singaporean banks
      • KEB Hana Bank
      • Shinhan Bank
      • Woori Bank
      • Singapore Development Bank of Singapore Branch
  • Overseas Bank
    • Has higher standards for opening bank accounts as compared to local Singapore and Singaporean banks
    • Easy to open for companies that can maintain a high account balance
      • BNP Paribas
      • Citibank
      • HSBC
      • Standard Chartered Bank
      • Bank of China
      • Rabobank
      • Royal Bank of Scotland
      • ING Bank, Barclays Bank
      • Credit Suisse
      • Deutsche Bank
      • UBS AG etc

3. Required Documents

  • Biz File by ACRA
  • M&AA
  • Company Brochure & Website
  • Passport/IC Copy of Directors/Shareholders/Authorizer
  • Proof of Address of Directors/Shareholders/Authorizer
  • Contract & Clients/Suppliers Information

4. Pre/Post Support

  • Support provision of required documents: We provide and review the forms
  • Bank account’s opening service: We open a bank account for the client at our partner banks: OCBC, UOB, CITI Bank
  • Interview support: We review and provide consulting services to sufficiently meet the bank’s examination standard
  • Post support: We help the client with bank-related application(s) and offer modifications where necessary


1. Lawyer Notary in Singapore

  • Certify the true copy of a document, notarization of the consistency between photocopied duplicates and originals and notarization of the consistency between translations and their originals
  • Notarization of witness to power of attorney/letter of guarantee/contracts/agreements

2. Notary of Singaporean Embassy in Singapore

  • Consul confirmation
    • Consul confirmation for documents that will be used in Singapore as official/private documents that are notarized by local officials
    • Local documents that will be used in Singapore
  • Certified power of attorney
    • Translate original/copied documents created by the individual
    • Documents certifying that the individual has prepared, signed and translated the submitted documents

3. Notary of Embassies (other countries) in Singapore

  • Purpose: legalization by consul for documents to be used overseas for authorization issued by a given country
  • Process of notarization
    • Notary Public
    • Academy of Law Singapore
    • Ministry of Foreign Affairs
    • Embassy

4. Related Services

  • Provide translation in the following languages: English, Chinese, Japanese and Korean
  • Documentation and notarized services related to the establishment of branches and subsidiaries in Hong Kong, Indonesia, Myanmar and Vietnam

Letter of Credit

1. Opening procedure

  • L/C service can be opened at the bank only after opening a corporate account with a Singaporean bank.
  • The opening procedure occurs between the importers (L/C issuers), exporters (beneficiaries), opening banks and purchasing banks
  • Contract (L/C issue agreement) - Application for opening (application submission) - Deposit of mortgage - Open (open and forward of L/C)

2. Function and effect of L/C

  • Function
    • Means of Settlement
    • Credit Facility
  • Beneficiary
    • Guaranteed collection of the price of exports with bank commitment, immediate collection of the price of exports after shipment, and benefits from the trade loan.
  • Applicant
    • Credit payment, guarantee of clear conditions, and predictions of shipments and arrival times of goods

3. Transaction Procedure

  • Conclusion of Contract
  • Application for opening L/C
  • Opening and sending L/C
  • Notice of L/C arrival
  • Shipping
  • Apply for purchase after issuing the bill of exchange
  • Payment
  • Send the bill of exchange and shipping documents
  • Notice of shipment document arrival
  • Bill of exchange payment
  • Collect on delivery payment


1. Employment-related service

  • Registered company by MOM (Ministry of Manpower) (LICENCE NO: 14C7217)
  • Employment contract and HR related consulting
  • Visa application, renewal, cancellation and issuance
  • Consultation of labor law

2. Central Provident Fund (CPF)

  • A social security savings plan that must be paid on obligation by employer and employee.
  • Payment obligations for Singaporean citizen and permanent resident employees only
  • Payment rate
Empoloyee' age(years)
Contribution from 1 Jan 2016 (for monthly wages $750)
By Employer
(% of wage)
By Employee
(% of wage)
(% of wage)
55 and below 17 20 37
Above 55 to 60 13 13 26
Above 60 to 65 9 7.5 16.5
Above 65 7.5 5 12.5

  • Employers under the age of 55: The employer (company) is obliged to pay 17% of their monthly salary, and the employee 20% of their monthly salary
  • For ordinary wages of $ 6,000 or more, pay the CPF-prescribed amount for $ 6,000 (maximum).
  • Pay by the 14th of the following month (e.g., CPF for July 2016 is due by August 14 2016)
  • CDAC, ECF, MBMF, SINDA payments depend on which community the employees belong to (personal pay)
  • 3. Skills Development Levy (SDL)

    • The Human Resource Development Fund from the Singapore Workforce Development Agency provides lifelong education and training for human resources
    • Payment obligations for all local employees (citizens, permanent residents) and applicants (EP / SP / WP)
    • 0.25% of the monthly salary (minimum $ 2, maximum $ 11.25)
    • Payment by CPF payment or by following link.

    Our Market Entry and Company Formation Services

    Our Company Setup provides One-Stop Services for your Overseas Business expansion. We respond promptly and provide advisory and professional consultation, through compliance with local legislation that applies to both local and multinational companies planning to establish companies in Hong Kong, South Korea, Vietnam, Taiwan, Malaysia and Singapore.

    Company Setup has upgraded its techniques and the quality of its services in order to ensure the full satisfaction of its clients.

    In Singapore can provide you with the insight and support that is needed when your company requires specialized assistance.

    Are you ready to expand in Singapore?
    Let us support you

    We are here to help you achieve
    your international business expansion goals.

    Services in Singapore

    We are a market leader in helping both local and foreign companies to successfully expand their business in Singapore, by providing a full suite of multi-lingual commercial representation and back-office services.

    Please fill out your detailed inquiry and correct email information and we will respond as soon as possible.