Singapore has business-friendly policies, which encourage people to start their own company here with the minimal amount of capital. While incorporating a company in Singapore is an excellent idea for business owners, handling the incorporation on your own is not recommended. Let us see why.
Consulting Is Required
Singapore is among the top few sought-after nations for doing business owing to its strategic geographical location, attractive tax policies, robust and healthy economy, and efficient government. The requirements for incorporating a company are also simple, but still, most people find it intimidating. The reason is that there is a certain set of rules and obligations that needs to be followed. Many people, being unaware of it, can make mistakes resulting in fines or additional costs. The same set of rules becomes a cakewalk when an Incorporation Services consultant explains it in a layman’s language.
Approval of Company Name
The company first needs to register its name and there are certain conditions that should be abided by for easier approval. Doing it on your own might lead to delays. This is because a person is generally not aware of certain words, which if included in the name can cause delays. The consultant, on the other hand, knows about all the required conditions inside out and hence helps in getting the approval of the name done in no time.
Registration of Company
Once the approval happens, you have 60 days to register the company in that name. If you are taking a self-route, then you need to know all the paperwork and documents required. If anything is amiss, then the whole procedure gets stuck causing unnecessary delays and agony. The consultant knows the process very well and he takes the responsibility of arranging all documents in order keeping you in the loop and asking you to provide the necessary information required from your end. This ensures that registration becomes a smooth ride.
Many Value Added Services
Incorporating a company alone is not enough. There are many other things that need to be taken care of if you want your company up and running. There are many value-added services that a consultant can provide, which otherwise takes a lot of time and energy to sort on your own. Getting the right guidance at the right time helps in eliminating many problems, which can otherwise crop up and lead to unnecessary stress.