# https://www.singaporecompanyincorporation.sg/

## Economic Ties with Cambodia to help SG-based Businesses | Business News
_Source: https://www.singaporecompanyincorporation.sg/press-releases/closer-economic-ties-with-cambodia-to-benefit-singapore-based-businesses/_

You are here: Home / Press Releases / Closer Economic Ties with Cambodia to Benefit Singapore-based Businesses According to an announcement by the Ministry of Trade and Industry (MTI), Singapore’s Second Minister for Home Affairs and Trade and Industry S Iswaran has made an official visit to Cambodia on Monday, 21 July 2014. He was accompanied by officials from the MTI, Ministry of Foreign Affairs and International Enterprise Singapore and was scheduled to meet Cambodian Deputy Prime Minister Sar Kheng, Senior Minister of Commerce Sun Chanthol and Minister of Mines and Energy Suy Sem. SingaporeCompanyIncorporation.sg anticipates that the visit will bolster economic ties between Singapore and Cambodia and create opportunities for Singapore-based companies. Minister Iswaran is expected to participate in a business networking session co-organised by International Enterprise Singapore (IE Singapore) and the Singapore Business Federation (SBF), which are leading an 18-member business delegation to Phnom Penh and Siem Reap. SBF last led a business delegation comprising of 17 Singapore companies to Cambodia on 14 – 18 November 2012. The visit was due to a strong interest in the Cambodian market by Singapore companies in search of an alternative production base as well as an overseas start-up location. In 2012, Singapore was Cambodia’s 6th largest trading partner and its investments in Cambodia grew 11% y-o-y, amounting to 240 million in 2012. According to MTI, Singapore-based companies have invested in Cambodia in sectors such as property development, hospitality, energy, lifestyle business, garment, agriculture and logistics. Bilateral trade has grown 17% since 2010 and amounted to $1.6 billion in 2013. CAMBODIA SET TO GROW IN 2014 – 2015 According to an announcement by World Bank titled Cambodia’s Economy Remains Strong at 7.4% in 2013 (07/04/2014), Cambodia’s economic growth for 2014 is projected to reach 7.2%. This is based on continued global economic recovery, the return of stability to the domestic economic environment and renewed confidence over the rest of the year. Last year, its economic growth registered 7.4% due to accelerated garment exports and continued growth in tourism. In addition, the Asian Development Bank (ADB) anticipates that Cambodia will grow 7% this year and 7.3% in 2015. This is according to its A sian Development Outlook 2014 released in April 2014. Commenting on Singapore’s move to bolster economic ties with the country, Ms. Cheryl Lee, Operations Manager at SingaporeCompanyIncorporation.sg commented, “According to the ADB, Cambodia has seen robust and steady growth over the past 2 decaces and in spite of recent political uncertainty. In light of Cambodia’s growth prospects, the strategy bodes well for Singapore-based companies that wish to have a presence in Cambodia, especially those in the garment and footwear as well as wholesale trading industries. These companies stand to benefit from duty-free export access to the EU and the US. In addition, Cambodia’s urbanization plans will create opportunities for Singapore firms in the areas of health and nutrition, infrastructure and vocational training as well.” Incorporate a company in Singapore quickly and easily Singapore Company Incorporation is the leading force in company registration in Singapore . With a gamut of services including Work Visas & Relocation, Accounting & Taxation, Business Licenses, Company Secretary and Trademark Registration, we are well-positioned to support your business. Let Us Help You Suggested Readings What You Need to Know about the Singapore Budget 2018 Hiring Quota Guidelines to Help Singapore Employers Hire Work Permit, S Pass Holders Precision Engineering, Chemicals and Biomedical Emerge as Top Singapore Industries in June 2014 Taiwan Growth Momentum Augurs Well for Singapore

## 新加坡SPass 服务 | Singapore Immigration Services
_Source: https://www.singaporecompanyincorporation.sg/services/relocation-and-immigration/s-pass-chinese/_

Translate: English ( EN ) | Japanese ( 日本語 ) You are here: Home / Services / Singapore Work Visa and Immigration Services / 新加坡SPass 服务 S 通行证适用于中等技能的外国人 (如技术人员)。申请人根据一定的标准在计分制度中进行评估。一般来说, 这些包括: 固定月薪至少 2, 300 新 (年龄较大的申请人必须获得更高的工资来申请该一准证) 各类资质证明 至少一年的全日制教育文凭 相关工作经验. 个性化就业准证服务 我们可以帮助您申请S准证, 包括: 免费咨询S准证相关信息 S准证的申请 追踪 S准证的 申请状态 在有必要的时候与MOM 主管进行联络 在有额外信息需要的情况下，帮助提供补充信息 在申请被驳回的情况下帮助提出无限制的上诉 帮您消除新加坡个人就业准证申请中的压力 我们可以参与移民、招聘和工作签证服务, 并与专门的专家联系，认真关注你的申请的每一步。 请选择我们

## Singapore GST Services | Tax Services
_Source: https://www.singaporecompanyincorporation.sg/services/accounting-and-tax/gst-services/_

Translate: Japanese ( 日本語 ) You are here: Home / Services / Singapore Accounting and Tax Services / Singapore GST Services We offer a GST service that helps ease the process of filing and complying with statutory requirements. Our accounts consultants can help you with the following: Our GST Services in Singapore GST Registration We will register for GST on your behalf with Inland Revenue Authority of Singapore (IRAS) and follow up with all queries regarding the registration. GST Filing We offer an assessment that determines the impact of GST registration on your company and customers. Based on the assessment, we will advise you on the optimum GST filing cycle for your company. We offer monthly, quarterly and biannual GST filing. Our service also includes providing advice on compliance matters as well as any incentives provided by the government for voluntary registration. Related Readings » GST on Import of Services in Singapore Need help with your GST application? Register for GST with Singapore Company Incorporation , one of the leading tax agents in Singapore. Our professional taxation specialists will attend to every step of your application thoroughly. Register GST

## Non-executive Directors: Facing 4 Crushing Challenges | Business Blog
_Source: https://www.singaporecompanyincorporation.sg/blog/challenges-non-executive-directors/_

You are here: Home / Blog / 4 Challenges That Non-Executive Directors Experience Having lesser control of things Not having a team of your own Keeping work separate from everything else Accepting criticism without seeing it as an attack Who is a non-executive director, and what are some of the notable challenges they face at work? A non-executive director is someone who is on a company’s board of directors but does not have any role in the management and decision-making of the company. While they have the same legal rights as executive directors, they are independent directors and are not under employment contracts, unlike their executive counterparts. Non-executive directors also face different sets of challenges compared to executive ones. So, if you plan to be an independent director like this someday, here’s what you need to brace yourself for: Having lesser control of things When you join as a non-executive director, you’re already well aware that you’re not going to have the same level of control like the others. However, when it actually comes to policy- and decision-making, it can be a challenge to take a backseat. After all, you are still on the company’s board of directors. Non-executive directors can provide feedback and suggestions that can help the board make a decision. However, you will not be directly involved in the daily decision-making process itself. This can be especially difficult if you are someone who is experienced in the field and have something valuable to add. Related Read: Role and Responsibilities of a Singapore Company Resident Director » Not having a team of your own Non-executive directors function independently from the rest as mentioned earlier. You are part of an organisation, yet at the same time, you are separate from them. While you are there to provide advice and opinions, executive directors will be able to sit together and agree on something as a team. If you are someone who enjoys teamwork, the role of a non-executive director might be a challenge for you. But, if you still want to give a role like this a go, remind yourself of the scope of your role from the start. This way, you will not be disappointed each time you feel left out. Related Read: Role and Responsibilities of a Singapore Company Resident Director » Keeping work separate from everything else Non-executive directors are usually appointed by friends and family to provide support for a company, even though this is not always the case. If you are asked to be on the board of directors by someone you know, make sure you see your role for what it really is instead of it being just a job given to you by an acquaintance. As someone who’s on the board of directors, you’ll need to put the company’s interests first instead of anyone else’s , regardless of how close they may be to you. Accepting criticism without seeing it as an attack Assume that you are a non-executive director who was hired due to your expertise and knowledge in a particular field. For someone who is experienced like you, having someone disagree with you, or being on the receiving end of comments, can be a challenge. In cases like this, do not see yourself as being inferior to the rest, but remember the importance of your role–you are there to support and assist the rest. If you strongly believe in something, stick to it, but do not take it to heart if it is not accepted by everyone else. Non-executive directors face multiple challenges but are still essential Although these directors experience different challenges, they provide valuable information that can contribute to the company’s growth. Before you decide to take on this role, think about the benefits and drawbacks, and whether you feel that you are up for them! FAQs What are some problems of being a non-executive director? Some issues non-executive directors face can be: Opinion conflict Conflict of interest Lack of trust Why are non-executive directors important? Non-executive directors help to track the company’s performance while providing useful independent oversight and ideas. What are the criticisms of non-executive directors? Some backlash non-executive directors face include: Misunderstanding their roles Poor fundraising Poor strategic views Discover what you need to set up your business What types of directors do you need when incorporating your business? Let us help you determine your requirements for a smooth process! Let Us Help Suggested Readings 22 Qualities of Great Business Leaders For Singapore Company Incorporation, Appointing the Right Company Secretary and Resident Director is Most Important 6 Ways to Improve the Customer Service Experience 34 Success Tips for New Business Owners

## Singapore Statutory Compliance Requirements | Registration Guide
_Source: https://www.singaporecompanyincorporation.sg/how-to/incorporate/singapore-statutory-compliance-requirements/_

You are here: Home / Learning Centre / Company Incorporation / Statutory Compliance Requirements in Singapore Every month, more and more foreign entrepreneurs are relocating their businesses to Singapore due the country’s hassle-free company incorporation procedures . It is important for all Singapore companies to know about the various pre-incorporation and post-incorporation statutory compliance requirements, as mandated by the Accounting and Corporate Regulatory Authority (ACRA). Compliance Requirements for Singapore Companies We can assist in fulfilling all of your compliance requirements. In addition, we also offer several support services to help you run your business successfully in the city-state. The table below gives a snapshot of all the corporate compliance requirements in Singapore and services we offer: Corporate Compliance Requirements Our Services For Incorporation Company Secretary Local Singapore office address Local resident director At least one shareholder Registrations (if applicable): Goods & Services Tax Trademark Customs Copyrights/patents * Business licenses and permits (if required) Post-Incorporation Payroll management: CentralProvident Fund (CPF) Skills Development Levy (SDL) Accounting & bookkeeping Appoint an auditor Bank account opening Annual General Meeting (AGM) Annual filing requirements: Annual returns with ACRA Annual taxes with IRAS Fiscal year determination Estimated Chargeable Income (ECI) Unique Entity Number (UEN) disclosure Additional Business Services Virtual Office * Document Drafting & Vetting * Company Strike-off / De-registration * Available if required. Read on for further details on all these requirements and how we can assist you in fulfilling it. Interested in our statutory compliance services? Contact us for a free consultation. Essential Regulatory Compliance For Incorporation Singapore Corporate Secretary All companies must appoint a company secretary who is ordinarily resident of Singapore. He or she must have the prerequisite domain knowledge and is responsible for ensuring all regulatory compliances stipulated by ACRA and IRAS. Generally, most companies in Singapore outsource the mandatory company secretary requirement to company incorporation specialists such as SCI. The responsibilities of a company secretary in Singapore include: Notifying ACRA on: any changes in the director(s) of a company or particulars relating to the director(s) changes to a director’s name or residential address removal from office in accordance with the Act or constitution disqualification from holding office appointments/resignations/deaths annual returns change of company name adoption, alteration, and revocation of the constitution; the issue of shares any other changes that require updating with ACRA Coordinating the publication and distribution of the company’s annual report, accounts, and interim statement; and preparing the directors’ report Coordinate the board and general meetings, as well as maintain the minute’s books Ensuring that the company complies with its constitution Maintaining statutory registers Maintaining the company’s register of members, communicate with shareholders, and implement changes in the structure of the company’s share and loan capital Advising and assisting the directors with respect to their duties and responsibilities and compliance with their personal obligations under company law and, if applicable Stock Exchange requirements Participating as a key member of the company team to implement corporate acquisitions and disposals Act as a channel of communication and information for non-executive directors Ensuring the safe custody and proper use of the company seal if provided for in the company constitution Local Singapore Office Address Every company in Singapore must have a registered local address where all official correspondences are sent. This registered address must be a physical address (cannot be a PO Box) and must be open and accessible to the public during normal office hours. Use of residential address is allowed for certain types of businesses. We can provide you with a Central Business District business address with mail forwarding on a weekly, bi-weekly, or monthly basis. This address can be used on your business cards, letterheads and corporate collaterals. Local Resident Director The company must have at least one director who is “ordinarily” resident in Singapore i.e. Singapore citizen, a Singapore permanent resident or a person who holds an Employment Pass/Entrepreneur Pass/Dependant’s Pass with a residential address in Singapore. While any person above 18 years of age can be appointed as a director, certain individuals such as those who have been declared bankrupt are not eligible. At Least One Shareholder For incorporating a company, at least one corporate or individual shareholding is required. 100% local or foreign shareholding is also allowed. If the company has more than 20 but less than 50 shareholders, it’s called a private company. If the number of shareholders exceeds 50, it becomes a public company. If the number of shareholders is 20 or less, with no corporation holding any beneficial interest in the company’s shares, it is known as an Exempt Private Company. As the director and shareholder of a company can be the same or different person, we can assist you by appointing one of our team members to act as the nominee resident director for your company, on a short-term or annual basis. This same person can also be the nominee shareholder of your company. Many of our clients to engage our nominee shareholder service for the purpose of confidentiality. Our service entails the nominee shareholders holding the shares on trust for the beneficial owners. As only the nominee shareholder’s name will be identified on the Register of Shareholders, this will help in protecting your corporate privacy. We can also assist you in framing your shareholder’s agreement, which is very important to avoid future disputes. This agreement defines the relationship between shareholders and specifies their respective rights and obligations. Registrations We can take care of all the registration requirements if any of these are applicable for your business. GST Registration Goods & Services Tax (GST) is a broad-based consumption tax levied on the import of goods (collected by Singapore Customs), as well as nearly all supplies of goods and services in Singapore. However, some items are specifically exempt from GST include financial services and the sale or lease of residential properties. The current rate for GST is 7 percent. A company must be registered to collect GST if its annual turnover exceeds or is likely to exceed S$1 million from the sale of taxable goods and services. This requirement may be waived if most of the goods or services are exported or supplied internationally (“zero-rated supplies”). A company may also apply to the Comptroller of GST to collect GST voluntarily. Approval for voluntary registration is at the discretion of the Comptroller. Once approval is given, the company must remain registered for at least two years. Trademark Registration An important consideration for a Singapore-based company is its trademark registration . Trademarks are signs used by a business or trade to distinguish their goods or services from those of other players in the market and are important for a company to protect its ideas and develop a brand. The benefits of registering your trademark not only include international legal protection against infringements but also extend to tax rebates. Commonly-used symbols to identify a trademark are ® and TM. While ® refers to a registered and protected trademark pursuant to trademark laws; ™ merely identifies that the mark is being used as a trademark by the owner but is not necessarily registered or protected under trademark laws. To learn more about Singapore trademark registration, click here . Customs Registration If your company

## 5 Common Mistakes to Avoid When Hiring a Freelancer
_Source: https://www.singaporecompanyincorporation.sg/blog/hiring-freelancers-mistakes-avoid/_

You are here: Home / Blog / Hiring Freelancers: 5 Common Mistakes to Avoid Hiring a freelancer is a great way to fill in the gaps if you lack resources in your company or if you need a one-off piece of work to be done. Freelancers tend to be more versatile as they would have worked on different tasks, making it easier for you to find someone who can deliver what you need. They can help you save costs as you only need to hire them when needed, making them excellent solutions for new businesses with a limited marketing budget. But while there are many benefits to hiring freelancers like the ones we just mentioned, there are a few things you need to look out for before getting them on the job. Table of contents Not knowing where to find freelancers Not going through their portfolio Lack of a proper agreement with them Setting unrealistic deadlines Setting wrong budgets Preventing these mistakes can facilitate a smooth and successful hiring experience On that note, these are some common mistakes companies make when hiring freelancers: Not knowing where to find freelancers Where do you start finding freelancers in Singapore? While you can always source for freelancers on social media, freelancer platforms , or even through a referral, not all of these may work for you. For example, if you’re looking for something specific like a brand logo design, you’ll need to narrow your search to platforms with graphic designers who specialize in this. Doing so helps save time by avoiding having to sift through tons of designer profiles. Besides that, you also want someone who is credible, experienced and communicates well – someone who comes from a trustworthy source. Take note that there can be scammers even on reputable sites and apps, so you need to do your homework. Remember; if something is too good to be true, it probably is. Watch out for freelancers who promise to deliver what you want but can’t support those claims with previous work. Not going through their portfolio You’re scrolling through some freelancer profiles, and you stumble across someone who seems to be the one you’re looking for: great reviews everywhere with people vouching for their work. However, while good reviews are key, they don’t always reflect someone’s ability to do the job. Ask to see the freelancer’s portfolio or previous work samples to ensure that you can truly get what you’re looking for. If they’ve worked on similar tasks before, that’s good news for you! But even if they haven’t, their work will help you gauge whether they’ll be able to accomplish what you need. Recommended Read: Why Singapore’s Immigration Policies Stimulate Startups » Lack of a proper agreement with them When hiring permanent staff, you need to sign an employment contract with them. Similarly, even for part-time or freelance employees, you should have a proper legal agreement. This is to ensure that both your and the freelancer’s rights are protected if there’s a dispute later. The agreement should outline the exact work to be done by the freelancer so that they know what to deliver and you know what to expect. Other clauses that you should have in the agreement are: The terms of payment Legal obligations of both the parties Penalties if a breach of the agreement happens Even if you are hiring a freelancer for a minor, one-off piece of work, it’s still good to pen down your expectations on paper. Another helpful tip is to ensure that you have copies of all your transactions and payments with the other party. Again, if a dispute arises, you’ll have evidence to show that you’ve done your part. Setting unrealistic deadlines You’re in need of work to be done urgently, so you hastily look for someone who can complete the task for you. In the best-case scenario, the freelancer can work following your timeline. But, bear in mind that you risk getting poor quality work that was hurriedly done by giving them a short timeframe. Worse, they might even ruin the entire project. Asking a freelancer to complete a piece of work within a fixed amount of time is fine, but ensure that the duration is reasonable. Be in touch with them well ahead of your deadline so that they can prepare in advance. You also have the right to ask for updates on your work from time to time, but avoid asking for too many changes at the last minute as that would be unfair to the freelancer. Setting wrong budgets Besides not allocating enough time for a task, failing to set the correct budget is another mistake when hiring a freelancer. Again, if you’re looking for quality work, you’ll need to be willing to fork out a good amount of cash. That doesn’t mean that you need to pay more than you should. Find out what the market value is before you approach a freelancer to avoid overpaying. You’ll also need to bear in mind that pricing will vary depending on how experienced the person is. If you’re unsure of where to find out the best rate, speak to at least 3 to 4 freelancers to get a rough idea of the average price. Once you’ve engaged someone to complete the task for you, the next thing is to pay them on time . Firstly, agree on how the payment should be done – whether that’s full payment upfront, 50% upfront, and 50% upon completion, or other payment arrangements. Then, when it’s time to pay, ensure that you do so on time. Just as it’s fair for you to expect the work to be delivered as promised, the freelancer also has the right to be paid on without any delays. Preventing these mistakes can facilitate a smooth and successful hiring experience Of course, there may be other mistakes apart from the points mentioned above, but stay calm. If this is new to you and you don’t know where to start, our corporate advisors can offer you the guidance you need. If you’ve worked with freelancers before, what are some hiring mistakes you’ve avoided? Share your thoughts with us! FAQs Where can I find freelancers in Singapore? In today’s day and age, you can find freelancers in Singapore easily on online job boards or social media. How can we make hiring freelancers as easy as possible? Hiring freelancers can be a simple process with the right amount of help. Consulting expert HR advisors like Rikvin help you attain a clear understanding of employment laws and practices to facilitate a smooth hiring process. Are there any rules or regulations that freelancers in Singapore follow? Freelancers and Companies that hire them can set up a mutual agreement that details a fair set of rules and regulations. Let us advise you Our HR professionals can offer you advice on the hiring process to help you meet your business needs. Speak to Us Suggested Readings Common Mistakes to Avoid while Incorporating a Start-up in Singapore A Guide on Payment Options for E-commerce in Singapore Businesses You Can Start With $250 Or Less A Rundown of How IRAS Will Treat Taxes for Digital Tokens in Singapore

## 46 Criteria Needed to Build a Successful Business | Business Blog
_Source: https://www.singaporecompanyincorporation.sg/blog/46-criteria-needed-to-build-a-successful-business/_

You are here: Home / Blog / 46 Criteria Needed to Build a Successful Business Be inspired Have a passion Educate yourself Generate an idea Preliminarily research the idea Talk to others Develop the idea Research and start a business plan Determine your target market Come up with a financial model Come up with an operations model Come up with a staffing plan Come up with a sales and marketing plan Come up with a growth plan Decide on a legal structure for your business Determine what you need to start Objectively analyze the risk If you’re ready, quit your current job Secure capital Seek resources and aid Scout for potential clients Register your business name Get a tax ID File your local taxes with ACRA Obtain any necessary permits or licenses Recruit one or more mentors Find your key locations Establish a unique brand Start building a personal brand Create a test product or service Establish key vendors and partners Learn and apply your employer responsibilities Hire your first employees Create a human resource plan and company culture Start selling Launch a website Outline and begin a digital marketing campaign Network everywhere you go Find at least one dependable, long-term client Use promotions and discounts to attract new customers Learn from customer feedback Hire more employees if necessary Tweak your operations to become more efficient Ensure your cash flow remains positive, with proper safety measures Scale your sales strategy Scale your marketing strategy What are the factors or criteria that make a business successful? Building a business is no easy task. It is a process that requires a lot of hard work and patience. Many people do not last during the process of building a business. For one reason or another, they do not have all of the qualifying criteria needed for a person to become a successful entrepreneur. If you are pursuing entrepreneurship and want to build a successful business, you need to create a checklist to be sure you meet the requirements. The following criteria below are the necessary attributes you need to build a successful business. Read further to learn more about these characteristics! 1. Be inspired It takes inspiration to be an entrepreneur. You will have some days when things are going great and others when you just feel like throwing in the towel. During these days, you need to look back to why you became an entrepreneur in the first place. Let that desire for a better life, better pay, or the need to create be the inspiration that drives you to succeed. 2. Have a passion Build a business you are passionate about. Establishing a business is a process, and you need to love what you do to build it from the ground up. There will be times when money is slow, you can barely find customers, and a job is looking like the better option to make money. If you find passion and purpose in what you do, you can overcome these challenges and build your business despite the setbacks you experience. 3. Educate yourself Immerse yourself in the world of entrepreneurship. Learn what it takes to build a business and become successful. Gain real experience instead of solely depending on blogs and articles for all of your entrepreneurship education. Also, remember that education is a never-ending process. Entrepreneurship is a rapidly changing world, so you do not want to be left behind trying to catch up. 4. Generate an idea People have business ideas every day, but only a few pursue them by investing time and money. Determine if you have a business idea that will prove to be successful. You do not want to build a business while constantly questioning if you made the right decision. 5. Preliminarily research the idea Never step into business ownership without understanding what you are getting yourself into. Find out how many other businesses similar to yours are already in operation. Determine the potential for success that exist. You will need to know if your business is one that has demand. Related Reading » How to start a business in 10 days 6. Talk to others Family and friends are okay to seek feedback from, but it is best to gather feedback from strangers and other entrepreneurs. Instead of holding back their thoughts, these people will provide you with genuine advice. You need honest feedback so you can determine if changes will need to be made before going all-in on your business idea. 7. Develop the idea Put your idea into motion by beginning to put some solid planning behind it to bring it to fruition. You will need to work out all possible weaknesses and start to figure out what needs to be included in your strategy to build your initial idea into a successful business. 8. Research and start a business plan This is your strategy that will be used to guide all of your actions while developing your business and when your business is operating. You will need to cover all aspects of your business in detail. Determine these aspects of your business: How you will market your business Who your ideal customer is What your sales goals are How much money you need to make yearly Remember, everything needs to be covered in detail to build a strong business. 9. Determine your target market Do not go into your business believing that everyone is your customer. If you do so, your business will fail because you are unfocused on a specific demographic who needs and will pay for your product or service. You will find that many businesses fail because their target market has not been defined; therefore their real customers do not know they exist. 10. Come up with a financial model If you have determined your target market, you should have also decided on the price they can pay for your product or service. You need to develop a price model that makes money for your business. Too many business owners place their business in a bad position because they try to be too price-friendly instead of operating a business. Determine how much needs to be made for you to breakeven when considering your initial investment and expenses. Next, find out how much money needs to be made to make a profit. Understand the difference between revenue and profit. Related Reading » The 6 benefits of outsourcing your bookkeeping 11. Come up with an operations model You need to determine what is needed to maintain an operational business. These will not only be the actions that are needed from you, but also the resources you need in place to handle these actions successfully. Determine who you will need for support to build beyond your initial starting point continuously. 12. Come up with a staffing plan You may find it difficult to pay people when you are just starting your business. As your business grows, you will need to hire people so that you can step away from doing everything by yourself and become an actual business owner. Your main staffing focus should be on a salesperson and a marketing expert. These two key people will help you build your business quickly. 13. Come up with a sales and marketing plan Marketing in sales is what produces business growth. Marketing is how you attract people to your business, and sales are how you turn interested marketing leads into customers. You will need a well-defined plan that addresses how you will communicate with your target market and how you convert them into paying customers. 14. Come up with a growth plan A successful business is one that continually grows over time. You may see little to no growth in the first year, but as the years continue to fly past, you need to experience growth for your business to have a chance of succeeding. If your business stays in the same position after three years, it is likely that it does not have a good growth plan in place. 15. Decide on a legal structure for your business You need to think carefully about your business’ legal structure. Your legal structure plays a big role in determining the taxes you pay and the protection you have as the business owner. Research the available

## What You Need to Know Before Hiring Employees in SG | Registration Guide
_Source: https://www.singaporecompanyincorporation.sg/how-to/incorporate/what-you-need-to-know-before-hiring-employees-in-singapore-a-guide-for-singapore-companies/_

You are here: Home / Learning Centre / Company Incorporation / What You Need to Know Before Hiring Employees in Singapore After you have incorporated a Singapore company , you will need to hire employees, both local and foreign, to work for your company. While hiring local residents (Singapore citizens and permanent residents) is easy, you will need to apply for work visas – Employment Pass (EP), S Pass , or Work Permit, if you intend to hire foreigners in Singapore. This guide will provide you with an overview of the considerations that must be kept in mind before hiring employees in Singapore. What You Need to Know Before Hiring Employees in Singapore Employment Act – Applicable to both Singapore and Foreign Employees as defined by the Act In Singapore, the relationship between the employer and employee is regulated almost exclusively by contract, and the primary legislation governing the hiring, employing, and dismissing of employees is the Singapore Employment Act (Chapter 91). While both parties, employee and employer, are free to put in clauses as they please, the employment contract, in general, is subject to certain statutory requirements provided for by the Employment Act (EA) and the common law. EA’s definition of “employee” does not include: Seafarer Domestic workers Class of persons declared by the Minister not to be part of the EA An employment contract can also be known as an employment agreement, appointment letter, or offer letter in Singapore. Employment of Foreign Manpower Act – Applicable to All Foreigners Employed in Singapore The employment of all foreigners in Singapore is regulated by the Employment of Foreign Manpower Act (EFMA). Moreover, some Singapore employment laws also apply to foreigners regardless of the contract clauses. This includes compensation for work-related injuries, maternity benefits, and childcare leaves for parents. All foreigners require work visas granted by Singapore’s Ministry of Manpower (MOM) before they start working for an employer in Singapore. These work visas may be either a work permit, S Pass, or an Employment Pass (EP). Work Permits (WP) are issued to basic-skilled workers from an approved source country/territory, which depends on the sector the worker is going to be employed in. S Pass is a notch above WP and is issued to mid-level skilled foreigners (e.g. technicians). Meanwhile, the Singapore Employment Pass is the most preferred work visa applicable for experienced professionals, managerial personnel, and executives. Employment Pass eligibility criteria include: Managerial or executive roles, or specialised jobs A fixed monthly salary of at least S$5,000 for young graduates and higher for older experienced applicants Acceptable professional and educational qualifications Singapore Employment Contract In general, an employment contract in Singapore must include the following: Date of commencement – may include probation details if applicable Salary details – includes basic pay as well as all types of allowances. Singapore doesn’t have a statutory minimum wage or bonus payment but EA mandates that the employee’s salary is paid at least once a month within seven days after the end of the salary period. Normally, at least one month’s salary is paid as a yearly bonus to employees in Singapore. Duties and job profile Working hours – may include overtime provisions if applicable. EA provisions of employees not working more than 44 hours per week are applicable to only those employees who earn less than S$2,600 per month. Annual leave –Minimum statutory annual leave of up to 14 working days is applicable to EA employees, based on the duration of employment. The provisions of applying for leaves may also be included. The Ministry of Manpower stipulates that its list of annual public holidays is stringently followed by all Singapore employers. Sick leave – minimum statutory sick leave and hospitalisation leave is applicable to EA employees. Sick leave without pay may also be included. The EA doesn’t have the statutory requirement of providing health insurance to employees. Parental and childcare leave provisions – the maternity provisions are different for foreign (12 weeks) and Singapore resident employees (16 weeks). Termination clauses and notice period – the termination notice or resignation must be given in writing Confidentiality clauses Governing law – contracts should be governed by Singapore Law. Statutory Filings per Employee Every Singapore employer must comply with the relevant mandatory statutory contributions for each employee, subject to certain qualifying conditions. This includes the CPF and SDL. Central Provident Fund (CPF) CPF contributions are payable to each Singapore citizen and permanent resident. The employer is required to pay the employer’s and employee’s share of CPF monthly contributions, which are determined according to the CPF rates and the employee’s actual salary. The employer may deduct the employee’s share from his salary. Skills Development Levy (SDL) The Skills Development Levy (SDL) is used to fund the Skills Development Fund which supports workforce upgrading programmes and provides training grants to employers. Employers are required to make SDL contributions for all employees — i.e. all local and foreign employees, including casual, part-time and temporary employees. This must be paid by the employer and cannot be deducted from the employee’s salary. SDL fund is used in supporting workforce upgrading programmes and training. Its rate is 0.25% of an employee’s gross monthly remuneration up to the first $4,500, or a minimum of $2 for total wages not exceeding $800 , whichever is higher. Where the employee’s gross monthly remuneration is more than $4,500, the SDL is fixed at $11.25. Foreign Workers Levy Singapore companies are required to pay foreign worker levy (FWL) for their Work Permit and S Pass holders. This levy was introduced by the Singapore Government to regulate the foreign manpower numbers in the country. The amount of FWL to be paid for each worker is determined by the sector the employer/company belongs to, and the educational qualifications and skills of the workers. Concessions may be available to Employers who employ skilled workers with relevant qualifications. With regard to S Pass holders, the monthly levy per worker ranges between S$550 and S$650 . Other Important Considerations Changing Employment Terms If not specifically mentioned in the employment contract, the employer cannot change the terms and conditions of employment during the course of employment. Confirmation of Employment The EA makes no such provisions. Thus, whether and when, if ever, an employee gets confirmed depends on his or her specific contract terms. Payments in Kind According to Singapore’s EA, this is not permitted. All wages must be paid in legal tender. However, an employee may get food, housing, and other privileges in addition to wages if the employer deems fit. Refusal to Accept Resignation According to Singapore EA, Section 108, an employee has the right to resign at any time by serving the required notice period or compensating the employer monetarily in lieu of notice. Failure by the employer to allow the employee to leave the employment is a punishable offense by a fine not exceeding S$5,000 or imprisonment for up to six months or both. Tax Clearance for Foreign Employees It is the employer’s responsibility to ensure that every non-citizen foreign employee pays all his or her due taxes on cessation of employment with the employer in Singapore or he/she plans to leave Singapore for more than three months. The employer must notify the Inland Revenue Authority of Singapore at least one month prior to the non-citizen employee leaving their employment and seek tax clearance from the Authority. Eliminate the stress from work visa applications Engage us for immigration, recruitment, and work visa services and liaise with a dedicated specialist who will attend to

## Singapore Company Secretary | Compliance Services
_Source: https://www.singaporecompanyincorporation.sg/services/singapore-company-secretary/_

Translate: Japanese ( 日本語 ) You are here: Home / Services / Singapore Company Secretary All Singapore incorporated companies are required to appoint a company secretary who is suitably qualified to discharge the functions of secretary of the Company. Singapore Company Incorporation can provide you with highly qualified and experienced corporate secretarial professionals, who will ensure that your company remains in compliance with all its statutory obligations with our Company Secretary services. Our Corporate Secretarial services include: Compliance Reminders Notifying you on filing deadlines, ACRA annual compliance alerts and reminders Management of Shares Share and capital issues Transfers and restructuring Share allotments Share reduction Implementing structure changes of company’s share and loan capital Implementation and administration of share participation schemes related to directors and employees Share registration and maintaining company’s members register Updating ACRA any changes in the director(s) of a company or particulars relating to director(s) changes to a director’s name or residential address removal from office in accordance with the Act or constitution disqualification from holding office appointments/resignations/deaths annual returns change of company name adoption, alteration and revocation of constitution issue of shares any other changes that requires updating with ACRA Maintenance of books, reports, accounts, and statutory registers Maintenance of minutes book and statutory registers book Distributing company’s annual reports, interim statements, and accounts Preparing director’s report Take up our company secretarial services We are constantly kept abreast of Singapore’s regulatory compliance requirements. Engage our specialists today to fulfil your compliance requirements. Appoint Us

## How To Convene an Annual General Meeting (AGM) | Business Blog
_Source: https://www.singaporecompanyincorporation.sg/infographics/how-to-convene-an-annual-general-meeting-agm/_

You are here: Home / Infographics / How To Convene an Annual General Meeting (AGM) Unsure about how to convene an Annual General Meeting (AGM)? Look through this infographic to find out the steps you need to take, the different ways you can conduct your AGM, as well as the matters to be addressed during your AGM. Related Readings: Frequently Asked Questions on Company Compliance and Post-Incorporation Requirements Company Statutory Compliance Requirements Frequently Asked Questions on Annual Filing Requirements How to Make Your Singapore Company Compliant Suggested Readings Dormant Companies – Filing Requirements 42 Tips that Will Help You Boost Your Blog Traffic For Singapore Company Incorporation, Appointing the Right Company Secretary and Resident Director is Most Important Guide to Filing Your Singapore Company Tax Returns