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The major banks you may consider are HSBC, DBS, OCBC, Citi Bank, Standard Chartered, UOB, etc.
Nowadays to fulfill the norms of KYC, many banks demand the physical presence of the company stakeholders for opening a corporate bank account.
After the registration of your new company, you need to take care of following items or documents: Each Singapore-incorporated company must fulfil a set of annual filing requirements to stay compliant with the law.
Accounting Requirements: All Singapore companies must maintain their accounting books in order.
Be it the general ledger, accounts payable and account receivables, or fixed asset ledger; every account must be maintained on a timely basis.
The annual financial statement must be prepared and filed with the authority in XBRL format.
However, we can obtain the hard copy of the certificate by making an online request to the authority. You can obtain company business profile from the authority right after the incorporation.
The Accounting & Corporate Regulatory Authority (ACRA) which also acts as the Company Registrar of Singapore, supervises the process for company registration in Singapore.The owners of a sole proprietorship or a partnership have to pay personal income tax (0%-22%) on their income from their business.Based on the scalability and robustness, a private limited company is the most preferred business structure to entrepreneurs who want to register a new company in Singapore.***If you are going to use our company registration service, please provide at least 3 names for us to check name availability with ACRA.If you have decided to set up a new company or relocate an existing one to the city-state, make sure to follow the requirements prescribed by ACRA.Setting up a business in Singapore can be less tedious and time-consuming if you let us, a reputed registered filing agent, to assist you.
However, we as your registered filing agent can ask for an extension of another 60 days by filing a request on your behalf.