Singapore is currently being ranked as #1 worldwide in numerous lists regarding business practices. It is strong in the trade and investment endeavors and also has more than 50 comprehensive Double Taxation Avoidance Agreements. Singapore also has strong intellectual property laws and these are strongly enforced. So it is normal for a new entrepreneur or a foreign company that want to register a company in Singapore.
Using Singapore’s Business Consultant Companies or Dealing with ACRA Directly
Company registration services are widely available in the country, with some offering great services. There are also international consulting companies, which work in Singapore and offer comprehensive advices to have in mind when registering a company.
There is also choice not to deal with consulting companies and paying for their registration services. An entrepreneur can deal with the Accounting and Corporate Regulatory Authority (ACRA) directly but has to have an amount of information beforehand that usually can be bothersome to obtain and keep in mind during all the process.
By hiring a consulting company, the entrepreneur doesn’t have to deal with intricacies of registering the company and only need to take care of more immediate details like name of the company, business structure or any other type of documents that are requested. As such, it is greatly advised to hire a company with registration services to register the business in a confident way.
Getting the Best Registration Services
A search in the Internet will get results from numerous amounts of Incorporation firms, but not all of them are completely professional and reliable. By checking each website, reading feedback given by other previous users, and consulting with other people by requesting their opinion on the appearance of the website and company overall, can help greatly to understand if that company in particular is reliable. One must not forget that a website is portal to one’s business so it usually shows one’s professionalism and reliability.
Inexperienced consultant companies should be frowned upon since it can hinder all the registration process and even start improperly the business which would be a major setback. It is also important to check the fees that the registration company requests, and see if they are merely introductory fees, which could hide other expenses, like administrative fees or shipping charges, in other steps of the registration, or if they are complete fees for all of the registration process.
Registering a company with ACRA usually takes 14 days or more, so the entrepreneur should check the time that the consulting firm takes to do the process herself. Finally, a good customer service is required since it is very important for the entrepreneur to have a readily available representative to answer all the questions regarding the process.
Best Choice for the Entrepreneur
Deciding whether to deal with all intricacies of registering a company or hiring a business consultant company to do the job might come down to decide to have or not a confident starting step in the Singapore business world. It is greatly advised to hire a company and the most important thing anyone should have in mind is to check if the company is reliable or not.
Author Bio: Chris Kam is the Director at Budget Accounts Pte. Ltd., Singapore. He provides expert advice in areas of corporate accounting, tax planning and cost savings. With his extensive experience in this field, he is successfully guiding clients in Company Secretarial Services and helping investors to achieve their financial goals.