Savvy Platform Pte. Ltd.
Contents
- 1 SAVVY PLATFORM - Singapore Company Registration
SAVVY PLATFORM - Singapore Company Registration
Savvy Platform PTE. LTD, commonly referred to as Savvy, is a Singapore-based corporate services platform specializing in a broad range of business services tailored for both local and international clientele. Established with the goal of simplifying the process of company formation and management in Singapore, Savvy has positioned itself as a key player in the corporate services industry.
Overview
Savvy offers a comprehensive suite of services aimed at assisting businesses at various stages of their lifecycle, from incorporation to ongoing compliance and operational support. The platform is designed to cater to the needs of entrepreneurs, startups, and established businesses seeking to navigate Singapore's regulatory landscape.
Services
Savvy's service offerings encompass a wide array of business essentials, including:
- Company incorporation Singapore: Assisting with the formation of companies in Singapore, providing guidance on statutory requirements, and ensuring a smooth registration process. More details
- Employment Pass Singapore: Facilitating the application process for Employment Passes, allowing foreign professionals to work in Singapore.
- Nominee Director Singapore: Providing Nominee Director services to meet regulatory requirements for companies seeking a local director.
- Accounting Singapore: Offering comprehensive accounting services to ensure compliance with Singapore's financial reporting standards.
- Secretarial Services: Providing corporate secretarial services to maintain statutory compliance with the Accounting and Corporate Regulatory Authority (ACRA) and the Inland Revenue Authority of Singapore (IRAS).
- Legalisation and Apostille: Assisting with the apostille and legalization of documents for international use.
- Intellectual Property Registration: Guiding companies through the process of registering trademarks and other intellectual property in Singapore.
- Licensed Employment Agency: Supporting staffing needs with the help of a licensed Employment Agency, aimed at assisting founders and owners with hiring.
Values and Strengths
Savvy is built around the principles of creating win-win relationships and leveraging knowledge and experience to provide top-tier services to its clients. The platform is founded by industry professionals with backgrounds in economics, international taxes, and business administration. The team comprises knowledgeable experts, including licensed filing agents, professional accountants, and trained tax professionals, achieving a blend of experienced and junior-level employees to cover all necessary business areas.
Clientele and Market
Serving both local and international clients, Savvy has been instrumental in enabling startups and established companies to set up and operate seamlessly in Singapore. With services geared towards simplifying complex regulatory requirements, Savvy has become a go-to platform for businesses looking to leverage Singapore's robust economic and legal framework for growth and expansion.
Registering a Singapore Company: Here’s the only company registration guide you’ll ever need for entrepreneurs looking to establish their businesses in Singapore, one of the world's most dynamic and business-friendly economies. This guide covers the essential steps, documents required, and what to do post-registration, including opening a corporate bank account.
Understanding Company Registration in Singapore
Before embarking on the journey of registering your company in Singapore, there are several crucial aspects to understand. Singapore's pro-business stance, comprehensive tax treaties, and strategic location offer a conducive environment for business operations and global trade.
Key Considerations Before Registration
- Business Entity Type: Choosing the right type of business structure (e.g., Private Limited Company, Sole Proprietorship) is fundamental, affecting liability, tax obligations, and compliance requirements.
- Company Name: The chosen name must be unique and not infringe on existing trademarks.
- Shareholders: A minimum of one shareholder is required. Shareholders can be individuals or corporate entities, local or foreign.
- Directors: At least one resident director is mandatory. Directors must be individuals, at least 18 years old, and not undischarged bankrupts.
- Company Secretary: Appointing a company secretary within six months of incorporation who is a resident in Singapore.
- Paid-up Capital: The minimum paid-up capital is S$1 to register a company in Singapore, which can be increased anytime after the incorporation.
- Registered Address: A physical local address is needed; P.O. Boxes are not permitted.
Incorporating as a Foreigner
Foreigners can incorporate a company in Singapore with the same requirements as locals, with the added need to appoint at least one local resident director. Engaging a professional services firm for smooth processing is advisable.
Document Requirements
- Company Name Approval
- Description of Business Activities
- Details of Shareholders
- Details of Directors
- Company Secretary Details
- Registered Address
- Memorandum and Articles of Association (MAA) provided by the company registration agent
- Additional documents may be required for foreign shareholders or directors.
Registration Process and Timeline
Registering a company in Singapore is a straightforward process, typically completed within 1-3 days, assuming all documentation is prepared and submitted correctly. The process involves two key steps: name approval and company registration, both typically completed on the same day through the Accounting and Corporate Regulatory Authority (ACRA) online portal.
Post-Incorporation Steps
Following successful incorporation, companies should take the following steps:
- Singapore Corporate Bank Account: Opening a corporate bank account is crucial for business operations.
- Business Licenses: Some business activities may require specific licenses.
- Goods and Services Tax (GST): Register for GST if annual taxable revenue exceeds S$1 million.
- Compliance: Adhering to ongoing compliance requirements is critical for operating legally in Singapore.
Opening a Corporate Bank Account
Singapore's robust banking sector offers a range of corporate banking services. Requirements can vary between banks, but typically include:
- Board Resolution sanctioning the opening of the account
- Identification and proof of residence for account signatories
- Certification of Incorporation
- Company’s Business Profile from ACRA
- Memorandum and Articles of Association (MAA)
- Shareholder and Directors' Information
Conclusion
Singapore remains a premier destination for business incorporation due to its strategic location, competitive tax regime, and pro-business policies. Leveraging professional guidance facilitates navigating the incorporation process, regulatory landscape, and operational setup efficiently.
