Our Services

One of the mandatory requirements to set up a business in Singapore is to have a physical office registered with Accounting and Corporate Regulatory Authority (ACRA).

A virtual office is a better solution to help start-ups and small businesses run at a low cost as it reduced overheads and adds flexibility. 

A virtual office has:

• An address for your correspondence and posts
• An address for your legal affairs
• A dedicated telephone line
• Mail and voicemail services
• Admin support to answer your phone calls and receive your letters and packages
• A meeting room for you to rent whenever you needed

Build your business presence with a virtual office in Singapore. Use one of our business addresses in prime locations and enjoy professional post, mail forwarding, and call answering services, plus use of our meeting rooms whenever you need it.
 

A foreign branch is another location of your company operating in another country. It is an extension of your main office but on a global scale. The branch office:

• must have a locally resident authorised representative.
• is required to lodge their financial statements as well as those of their Singapore Branches when filing annual returns with ACRA;
• is required to prepare audited profit and loss account which complies with the Accounting Standards
• must prepare an audited statement showing their assets used in and liabilities arising out of their operations in Singapore, and lodge these documents with ACRA

Singapore branches of foreign companies are controlled and managed by their foreign parent. They are not considered tax residents of Singapore.
 

Key Information about Entrepreneur Pass:

• Open to all qualified nationalities who wish to start or intend to start a private limited company registered with ACRA that is venture-backed or owns innovative technologies.
• No stipulated minimum salary
• Entrepreneurs, innovators, or investors must meet the innovative criteria set by MOM.
• Subject to MOM approval, 1 year is granted to first-time candidates and first renewal; 2 years for subsequent renewals.
• No foreign worker levy or quota is required.
• As an EntrePass holder, certain family members can join you in Singapore if you meet the requirements for minimum business spending and local jobs created.
• The candidate can apply for EntrePass directly to MOM or you may seek our services to apply on your behalf.

The Corporate Advisory unit specialises in helping entrepreneurs maximise the value of their businesses.

From profit and cash flow improvement or formulation of growth strategies, to handling ‘growing pains’ and rescuing businesses out of financial or business difficulties, we are known for our practical advice and tenacity in seeing clients through. ​

A GST-registered company is responsible for accurate charging and accounting of GST, filing GST returns on time, keeping proper records, and adhering to all conditions imposed by IRAS.

Failure to file or late submission of a GST return is an offense punishable with a fine or imprisonment. Therefore, the preparer of a GST return must have complete knowledge of the obligations of a GST-registered company.

When you have a financial interest in a struggling business, nothing matters more than taking swift action to protect your position. Businesses can find themselves in trouble out of no fault of their own or it may be a result of one of the business units taking the entire organisation over the edge. ​

Corporate reorganisations, debt-restructurings, informal work-outs and formal insolvency procedures are increasingly being adopted by businessmen and cr

A business must register for GST when the taxable turnover exceeds $1 million.

A GST-registered company is responsible for accurate charging and accounting of GST, filing GST returns on time, keeping proper records, and adhering to all conditions imposed by Inland Revenue Authority Singapore (IRAS).

Failure to file or late submission of a GST return is an offense punishable with a fine or imprisonment. Therefore, the preparer of a GST return must have complete knowledge of the obligations of a GST-registered company.

Know when your business is required to register for GST and how GST works to ensure that you comply with the GST system.

Accounts payable (AP) is an important aspect of a business. Having a good AP workflow is essential to keep finances and improve cash flow. It will also maintain a healthy relationship with your suppliers and give them a good impression that you are not difficult to do business with.

A representative office (RO) is for foreign entities that are keen to explore opportunities, test the market in the region, or promote products or services without doing direct business activities and profit generation. An RO allows you to assess the viability of doing business in Singapore before deciding to set up a permanent establishment. RO is a temporary set-up with no legal status so it cannot engage in any trading or business activities that yield a profit.

An approved RO of a foreign commercial entity may operate in Singapore for a validity period of one year only from its commencement date after the evaluation of Enterprise Singapore. An extension of RO will only be granted on a case-by-case basis and is subjected to approval for up to a maximum of 3 years. Once the RO decides to continue its presence in Singapore, its operations should be registered with ACRA.
 

Key Information about Personalised Employment Pass:

• Current Employment Pass holders with higher earning salaries may opt to apply for a Personalised Employment Pass (PEP).
• The PEP offers greater job flexibility than any other work passes. PEP allows you to hold a job in any sector, not to re-apply for a new pass if you change jobs and you can stay in Singapore for a continuous period of up to 6 months without a job to search for new employment.
• EP holders can bring their family members to Singapore through Dependent Pass or Long-Term Visit Pass.
• The candidate can apply for a Personalised Employment Pass (PEP) directly to MOM or you may seek our services to apply on your behalf.

Opening a business account is a necessity to separate the owner’s/director’s personal assets from the company’s money. Banks become strict in approving new clients and opening a corporate bank becomes a challenge. 

All financial institutions in Singapore are required by law to comply with Anti-Money Laundering/Countering the Financing of Terrorism (AML/CFT) requirements and guidelines to prevent terrorists and criminals from using financial products and services to store and move around their money. This is one of the main reasons why opening a corporate bank account, especially for foreigners becomes difficult and lengthy.

Accmaster has a wide banking network that will help you open a corporate bank account with ease.
 

When a business struggles and directors or owners would choose to close down the business, one of the options available is to strike off the name of the company from the register.

A company strike-off is the process when a business is removed from the register and ceases to exist.

Striking off is far less costly than liquidation and it does not require the appointment of a Liquidator. 
The process can be straightforward provided that the company can satisfy all criteria to strike off a company. If there is no objection to striking off the company, the entire process will take at least 4 months.