Starting a PTE LTD

Subject: Starting a PTE LTD Wed Apr 22, 2009 2:04 pm

I want to start a company in my own name. A exempted private company. Means that its a PTE LTD, but doesn't have to have the accounts audited or submitted to the government.

I believe i meet all the requirements for starting a company.

However, had anyone started an exempted company before? Because during registration how exactly do you indicate that you are starting and EXEMPTed company? And do Exempted company still have to submit anything to the government? Like the taxes or something?

plus. The biz address. You must have an address to start a company is it? I don't have an office though. I heard something about paying $20 to use a hdb address as an office address, can anyone confirm that?

Thanks a lot for your help!

Cheers.

Subject: Re: Starting a PTE LTD Mon Apr 27, 2009 11:38 pm

Well I think so you can use your home address.
Hey, what kind of business you interested in doing?
I hope to start my own business too!

Subject: Re: Starting a PTE LTD Fri May 01, 2009 4:13 pm

Well, i intend to do web based businesses due to their low start up capital. What business you intend of doing?

Posts : 12 Reputation : 0 Join date : 2009-04-20

Hi, Ali here.

I've started a company just Feb 09.

The process of starting a company is almost as easy as registering an email,
if you know the procedures.

I would suggest that the easiest way is to go to Tanjong Pagar MRT,
the exit just outside International Plaze (the one near Jackie Chan Cafe),
go there get 1 flyer by A1 pte ltd, and let them do everything for you.

You'll save much time this way.

u pay them ard $15 to put their address as company address.
This is what we call a virtual office.

there's also phone, mail and fax answering service provided.
and of course accounts and secreterial service.

Exempt company is an automatic status as long as ur revernue not above $5m.
Check ACRA for more details.

Cheers Smile

Posts : 12 Reputation : 0 Join date : 2009-04-20

can check out this article too

http://www.asiaone.com/Business/SME%2BCentral/Dollars%2B%2526%2BSense/Story/A1Story20090504-139163.html

the article put it well, dont stress over the registration process,
as it it only the beginning of a business.

Harder things to come.

Subject: Re: Starting a PTE LTD Wed May 06, 2009 4:52 pm

Thanks Ali for the help.

A1 pte ltd eh? That means its $15 for virual address, and phone answering service all in one?

Posts : 12 Reputation : 0 Join date : 2009-04-20

haha, just go there and get a flyer, it's all there.

I wasted much time in setup of company,
so just ask them help should save much time. Smile

Subject: Re: Starting a PTE LTD Wed May 06, 2009 9:47 pm

It's A.1 Business pte ltd.

I managed to find their website: http://www.a1-online.net/index.html

Seems like a good company secretary to outsource things to.

Subject: Re: Starting a PTE LTD Mon Jun 01, 2009 4:07 pm

Good Luck in your new business!

Subject: Re: Starting a PTE LTD Mon Jun 01, 2009 8:32 pm

Thanks diz

Subject: Re: Starting a PTE LTD Thu Jun 11, 2009 1:38 am

In case you guys want to register as GST trader, there is a grant by Spring which will end soon. This grant allows you to purchase accounting software and computer hardware with Spring subsidies. For more details, do PM me...

Good luck to your startup...

Subject: Re: Starting a PTE LTD Wed Jun 17, 2009 6:18 pm

amcpl1 wrote:: In case you guys want to register as GST trader, there is a grant by Spring which will end soon. This grant allows you to purchase accounting software and computer hardware with Spring subsidies. For more details, do PM me...

Good luck to your startup...

What is a "GST trader"? I would like to hear bout these grants from you.

Subject: Re: Starting a PTE LTD Wed Jun 17, 2009 10:06 pm

Simple term is to sell your goods and services with GST tax. Many people may think that you need your sales to reach S$1M in order to be registered with GST. The fact is, you can volunteer to register with IRAS as GST trader. Meaning, you can invoice your goods and services with 7% tax and can claim back 7% incurred on your purchases. Those who are not registered with GST cannot claim back their 7% tax during purchases and therefore cost of your goods is higher than others who are GST register.

This GST assistance scheme is to encourage company to be registered as GST trader as it increases from 5% to 7%. This grant covers 100% of your accounting software purchase to help you with the reporting of GST and at the same time 50% on your computer hardwares for such purpose. Total claimable grant is $5,000. However, this grant will only be applicable to those who register with GST before 30th June 2009 as closing date which is only few days away. New scheme is coming out soon.

Read more: http://www.spring.gov.sg/Content/WebPageLeft.aspx?id=6ba5dc08-28e8-459a-9ba7-bcd42a3f58c5

Posts : 2 Reputation : 0 Join date : 2009-06-22

[size=12]Hi

If you need an advice on setting new company in Singapore including exempted PTE LTD. We can help you on this matter. Our office is at central location, Tanjong Pagar. You can also use our office as your register office and it sound better when you include in your business card.

In addition, we also assist our clients in helping them with their accounts, applying for GST and submission ,year end accounts submission to ACRA and corporate taxation.

Should you need our help, we can assist you and do free to contact me at 81135989 or via my email at : contactus_svc@ymail.com

Hope I can assist and solve your problems. Very Happy

Cheers

Abell Business Services

Subject: Re: Starting a PTE LTD Mon Jul 20, 2009 9:12 pm

http://www.hdb.gov.sg/fi10/fi10206p.nsf/WPDis/Setting%20Up%20A%20Home%20OfficePolicies?OpenDocument

A lot of restrictions on a home office, looks to me like they only allow quiet and clean businesses.

Posts : 6 Reputation : 1 Join date : 2009-08-13

For all of you interested in starting a Pte Ltd compnay in Singapore, here is a quick overview.

Minimum Statutory Requirements
A local registered address(commercial or residential but no PO Box); at least 1 local resident director (a Singapore Citizen, a Singapore PR, or a foreigner holding an Employment Pass, Entrepreneur Pass or Dependent Pass); a local resident and qualified company secretary (must be a natural person); a minimum of 1 and maximum of 50 shareholders (natural persons or corporates); and a minimum paid up capital of SGD 1.00.

Incorporation procedure
Company registration in Singapore is fully-computerized and can be completed within 1 day via electronic means. There are only two major steps involved in company formation - name approval (by filing an online application with ACRA) and filing incorporation documents with Companies Registrar (ACRA).

Generally the name approval/rejection notification comes through in less than an hour. Filing incorporation documents and obtaining approval from the Registrar of Companies can be completed in a few hours (assuming incorporation documents are in order).

Documents and Information Required
Company Name
Brief Description of Business Activities
Shareholders Particulars
Directors Particulars
Registered Address
Company Secretary Particulars
Memorandum and Articles of Association (MAA). Singapore Company Registrar provides a standard MAA document that is suitable for most instances.

The Company Registrar will send an official email notification (which is treated as the official incorporation certificate) confirming the incorporation of the company.

You can proceed to obtain the Company Particulars Extract from ACRA, open a corporate bank account, obtain business licenses (if required) and register for GST.

For more info, look up Singapore Company Registration Guide

Although you can opt for self-incorporation it is always advisable to hire a firm who will take care of all the formalities for a nominal fee. You can contact the firm that runs the website http://www.guidemesingapore.com/ They are known to provide credible services at very affordable costs.