Asiabiz Setup Provides Assistance In Post-incorporation Compliance With Requirements
Business entities as well as companies are required to comply with statutory requirements in Singapore after
their registration and or incorporation in Singapore.
One immediate requirement is the opening and maintaining of business or corporate bank accounts.
Asiabiz Setup creates and offer solutions to business enterprises in Singapore, whether local or foreign. When it
comes to opening of bank accounts, its business consultants assist businesses by providing essential
information pertaining to a bank’s requirements, facilities, and services.
“Most banks in Singapore require the physical presence of the principal signatories,” says one of Asiabiz Setup’s
business specialists, “however, in some rare cases, a few of the banks may give exemptions.”
Foreigners must furnish a completed application form along with documents such as proof of residential address
and a photocopy of the personal information section of their passport. A representative of Asiabiz Setup can
accompany personally the investors in opening bank accounts.
Relative to the nature of the business of an enterprise, corresponding business permits and licenses should be
obtained as well. Asiabiz Setup continues to recite: “businesses like private education institutes, travel agencies,
liquor distributorship, moneylenders, importers and exporters, and wholesaler and retailer of liquors must secure
the necessary business permits and licenses before they can start operating.”
Business firms such as sole proprietorship and partnerships are not regarded as a legal entity by the authorities
in Singapore. Their revenues are thus, treated as a personal income of its owner and partners. Consequently,
these proprietors and partners must file their annual income tax returns. Asiabiz Setup helps these individual
comply with such requirement.
“We send reminders to our clients about their annual obligations to the taxing authorities. Our team of
accountants is adept at preparing the necessary documents to be forwarded to IRAS.
Partners in limited liability partnership, too, must file their annual tax returns despite the juridical personality that
cloaks the partnership.
Companies such as a private limited and subsidiary and branch offices of foreign companies are also obliged to
file the annual tax return of their companies. Too, they are obliged to hold an Annual General Meeting, where the
unaudited financial accounts of the company are presented before the board. The financial statements are
accompanied by the Director’s Report that is filed with ACRA after the meeting.
In availing the professional services of Asiabiz Setup, they can be certain that all these requirements are
satisfied. The financial statements, for instance, require accuracy and tremendous amount of time during
Asiabiz exists to ensure that the specializations it provides are its expertise. It is constituted by experts and
professionals from different aspects of a business.
About the Publisher:
For many years, Asiabizsetup has served the community by taking charge of Singapore company
incorporation, Singapore company registration and processing the necessary working visas of
entrepreneurs or employees, and providing services such as accounting, secretarial and statutory compliance
with certain requirements.
AsiaBiz is a company that provides Singapore company setup services to local and foreign
entrepreneurs and investors and offer consultation regarding the immigration and taxation law, Singapore
accounting services, book keeping requirements, and other compliance matters stated under the Singapore
law. The company has successfully helped thousands of both local and foreign entrepreneurs form a
Our phones are answered during business hours by specialists and not by an answering machine. We
appreciate the value of your time and understand that a person cannot be replaced by technology. This is
especially true when it comes to making important business decisions.
For more information visit:
AsiaBizSetup PTE LTD
address: 120 Telok Ayer Street Singapore 068589
phone: (65) 62426533