After a company is incorporated, several important steps must be taken.
Open Corporate Bank Account
Businesses should open a corporate bank account to manage financial transactions.
Appoint Company Secretary
This must be done within six months of incorporation.
Maintain Accounting Records
Companies must maintain proper financial records for at least five years.
Annual Compliance
Companies must file:
- Annual returns with ACRA
- Corporate tax with IRAS
Conclusion
Proper post-incorporation compliance ensures the company remains legally compliant.
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