Singapore maintains an open policy for foreigners when it comes to business opportunities. Business formats were reviewed and industry standards were specified in order to attract startup businesses, encourage investors and guide them accordingly in legal business processes and necessary documents. Singapore Subsidiary Company and Singapore Branch Office are two of the most popular business formats available in Singapore. Both are...more
No one can deny the fact that crime rate in the USA tops the world. You can hardly know whether the new employee in your company has committed a credit card crime before, or the nanny you hire to look after your kids is a sex-offender. It is so necessary to do some checks before you bring them to your office and home.There are basically there ways to conduct postal address search with the help of World Wide Web: General-purpose...more
What is Payroll Software?Payroll software is the one which computes the employee salaries every month. The employee may be paid by hourly rate / daily rate/ monthly fixed salary. The employee may have some additions and deductions in every month like overtime pay, daily allowances, advance payment, medical claim, special allowance, etc" And the employee unpaid leave, lateness & early leaving pay needs to be deducted from his salary. Every month the payroll software should able to generate the pay slip for the employees. And payroll software must have useful management reports like, Monthly Salary Summary Report, Overtime Payment Report, Taxation Report, Yearly Summary Report, and Monthly Reconciliation Report.And different countries have their own computation for taxation & provident funds. So the payroll system should comply with the local government regulation for salary calculation.Payroll for Singapore:Payroll in Singapore country should be complying with Singapore government regulations as below.CPF - CENTRAL PROVIDENT FUND: An employee who is Singaporean / permanent resident of Singapore must contribute CPF to the CPF board. The CPF amount comprises of employer & employee...more
Since the private limited company provides the most advantages particularly in terms of taxation, this business entity is believed to be more popular compared to sole proprietorship and partnership.One of the most notable advantages of a private limited company is that shareholders enjoy limited liability which protects their personal assets such...more
There are certain steps to setup a Singapore company. This may take a little while to accomplish. However, once done, there are things to consider also. You will need to do a few things before you start business in Singapore.Obtaining LicensesYour business may require a license before you can get started. Yet, not all businesses will need to have...more
Most experts believe that private limited company provides the most benefits especially when it comes to bankruptcy protection and taxes, making this the most popular business entity in Singapore.Compared to sole proprietorship and partnership, a private limited company is considered as a separate legal entity from its owners which means that it can purchase supplies, acquire properties, and charge in a lawsuit using its name instead of naming its shareholders or directors. One of the most notable advantages of this Singapore company setup is its perpetual existence. This is because its existence does not depend on who are the shareholders and directors while its ownership can be passed down from one individual to another through the selling of shares. The existence of a private limited company will only cease if the shareholders and directors have decided to dissolve their business or merge with another company. Another advantage of this business structure is the limited liability protection enjoyed by shareholders. With this arrangement, their personal assets cannot be liquidated to pay the financial losses and liabilities of their company in case of bankruptcy.And because of...more
A branch office is a type of business model that will allow foreign companies to have a business presence and conduct activities in Singapore. Legally speaking, this entity is an extension of its parent company.As a legal extension,...more
Singapore extended a worldwide business effort by allowing foreign companies to setup and establish business operations in Singapore. Singapore has been very accommodating that it even allowed 100% foreign ownership and outlined...more
With Singapores attractive corporate laws and taxation system, the country has been attracting thousands of foreign and international companies interested to expand their operation in the Asia Pacific region or/and tap the city-states economy which...more
Most experts in Singapore company registration believe that the most commonly registered business structures are the sole proprietorship, limited liability partnership, and private limited company.1. Sole proprietorship This business structure is the...more
Singapore has always been considered as one of the best business centers in the Asia Pacific region due to its proximity with major markets, pragmatic government, tax benefits for foreign companies, and viable corporate laws.There are...more
Singapore is getting a lot of very good press, these days. Promoting your goods and services may not be difficult. This also applies to approaching investors about your business ventures. People are discovering the many good things about forming a...more