Under the Business Registration Act, "business" includes every form of trade, commerce, craftsmanship, calling, profession and any activity carried on for the purposes of gain.

A sole-proprietorship is a business firm owned by one person or one company. There are no partners. The sole-proprietor has absolute say in the running of the business firm.

Partnerships may have between two and twenty partners. Once there are more than twenty partners, the business entity must be registered as a company under the Companies Act, Cap.50.

A company is a business entity registered under the Companies Act, Chapter 50. It has a legal personality i.e. it has rights to own properties, can sue or be sued. It usually has the words 'Pte Ltd' or 'Ltd' as part of its name.

Requirements:

Any person above the age of 21 years can incorporate a local company.

With effect from 1 April 2004, a company can have one director whom must be "ordinarily resident in Singapore" i.e. a Singapore Citizen, a Singapore Permanent Resident, a person who has been issued an Employment Pass/Approval-In-Principle letter or a Dependant Pass.

LLP ACT commenced on 11 April 2005.

LLP is a new vehicle for doing business in Singapore. The LLP will give the owners the flexibility of operating as a partnership whilst giving them limited liability. It combines the benefits of a partnership with those of private limited companies.

JARDEEN shall assist your company/firm in keeping of proper accounts in a quarterly, half-yearly, yearly basis as required under the Singapore Companies Act, Cap. 50.

Preparation of journal entries, general ledgers, accounts receivable, accounts payable, trial balance, profit and loss account, balance sheet.
Monthly/Quarterly/Annual management accounts.
Accounting system setup for new business.
Computerized payroll services.

Every company is required to submit their annual tax return (Form C) with the Inland Revenue Authority of Singapore

It is also required that every individual/sole proprietor/partner is to submit their annual tax return (Form B) with the Inland Revenue Authority of Singapore

We help our clients with the following services :

Maintaining of Fixed Assets register.
 

Computation of capital/business allowances.

Under Section 171 of the Companies Act, Cap. 50,

It is required that the directors of a company are to ensure that the company secretary appointed has to have the requisite knowledge and experience to discharge proper corporate secretarial functions.

Passing of Directors’ Resolutions in writing pertaining to change of directors, registered address, bank account signatories, increase if issued share capital, transfer of shares, shareholders.Filing of Annual General Meeting, Annual Returns

JARDEEN shall provide you with a Singapore Director Nominee should you have difficulties looking for a Singapore partner to register your company at a yearly retainer fee.