MK Corporate Services

< Essential Checklist for Successful Company Incorporation in Singapore > Singapore is renowned for its business-friendly environment and stable legal framework, making it a preferred hub for global companies. Are you considering setting up a company in Singapore? Here’s a checklist to ensure a smooth and successful incorporation process. 1️⃣ Choose the Right Business Structure Select a structure that aligns with your business goals and scale. - Private Limited Company (Pte. Ltd.): The most common and flexible structure - Sole Proprietorship: Ideal for individual entrepreneurs - Partnership: For businesses with two or more partners 2️⃣ Register Your Company Name Your company name must be approved by Singapore’s ACRA (Accounting and Corporate Regulatory Authority). ✔️ It should be unique ✔️ It must not be offensive Tip: Choose a name that is memorable and reflects your brand identity. 3️⃣ Meet the Essential Requirements To incorporate a company in Singapore, you’ll need: - At least one shareholder - At least one director who is a Singapore resident - A registered address (PO Boxes are not allowed) - A company secretary to be appointed within six months of incorporation 4️⃣ Understand Tax and Regulatory Obligations - Register for GST if your annual revenue exceeds SGD 1 million - File annual tax returns with IRAS - Submit an annual report to ACRA 5️⃣ Open a Bank Account and Check for Licenses A local bank account is essential for business operations. Depending on your industry, additional licenses or permits may be required. Planning to incorporate your business in Singapore? We provide end-to-end services, from incorporation to tax and accounting management. Feel free to reach out for a consultation. Let us help you take the first step toward a successful business journey! #Singapore #CompanyIncorporation #Business #Tax #Accounting #ACRA #IRAS

🚨 Understanding Singapore's AGM and Annual Return Obligations 🚨 For businesses operating in Singapore, staying compliant with the Companies Act is crucial. Here’s what you need to know about Annual General Meetings (AGM) and Annual Return Filing — including obligations for dormant companies. 1. Annual General Meeting (AGM) 📌 Listed Companies: Hold AGMs within 4 months after the financial year-end. 📌 Unlisted Companies: Hold AGMs within 6 months after the financial year-end. 📌 Penalties: Fines up to SGD 5,000 if AGMs are not held on time. Typical AGM agenda items include: Approval of financial statements Re-election of directors Declaration of dividends Setting a cap on directors' remuneration 2. Annual Return Filing 📌 Listed Companies: File Annual Returns within 5 months after financial year-end. 📌 Unlisted Companies: File within 7 months after financial year-end. 📌 Penalties: Fines up to SGD 5,000 for non-compliance. 3. Dormant Companies A dormant company (Section 205B) is one that has no accounting transactions. However, some costs do not affect dormant status, such as: - Secretary and auditor fees - Office maintenance costs - Statutory fees While dormant companies are exempt from holding AGMs, they must still file Annual Returns to avoid penalties. 📢 Stay compliant! If you need assistance with your corporate obligations, reach out for support. #Singapore #Compliance #AGM #CorporateGovernance #AnnualReturns

🚀 Navigating Corporate Compliance Made Simple! 🚀 Running a business comes with many responsibilities, and staying compliant with regulatory requirements is one of the most critical ones. At MK CS, we understand how overwhelming it can be to manage compliance while focusing on growth. From annual return filings and corporate governance to XBRL financial statements and tax advisory, our dedicated team is here to simplify your corporate journey. 🏢 We partner with businesses of all sizes, providing customized solutions that ensure compliance and efficiency. Focus on what you do best, and leave the rest to us! 📞 Contact us today to learn how we can support your business goals. #CorporateServices #ComplianceMatters #BusinessGrowth #SingaporeBusiness

We’ve just updated our Page. Visit our Page to see the latest updates.