Corporate Compliance Solutions
Our Corporate Compliance Solutions team assists clients with all financial business processes, including incorporation, company secretarial services, accounting and payroll, in order to ensure tax compliance.
We perform the role of a virtual CFO when entering new markets and assessing the competitive or regulatory landscape. Our comprehensive expertise and in-depth knowledge will assist you to make the right strategic decisions.
Structures available to businesses in Singapore
The following structures are available to businesses that set up in Singapore:
- Sole-Proprietorship – an unincorporated business owned by one individual.
- Partnership – a business consisting of two or more owners that share profits and liabilities.
- Limited Partnership (LP) – a partnership between two partners with at least one general partner and one limited partner.
- Limited Liability Partnership (LLP) – a business structure where two or more partners incorporate an entity separate from themselves.
- Private Limited Company – Is a locally incorporated company where the maximum number of shareholders is limited to 50 and is a popular choice.
- Variable Capital Company (VCC) – a fund vehicle that can be established by regulated fund managers in Singapore.
We focus on financial institutions (FIs) market entry (in addition to other businesses) and expansion in Singapore. These financial institutions are regulated by the Monetary Authority of Singapore (MAS) and comprise:
- capital markets entities including broker-dealers, fund managers (fund management company), REIT managers, corporate finance advisers, securities-based crowdfunding operators, credit rating agencies and financial advisers
- the Variable Capital Company (VCC), a new corporate structure that can be used for a wide range of investment funds while providing fund managers with greater operational flexibility and cost savings
- payment service providers and payment systems, both of which are regulated under the Payment Services Act 2019 (“PS Act / PSA”) and include seven payment services
- i) account issuance service
- ii) domestic money transfer service
- iii) cross-border money transfer service
- iv) merchant acquisition service
- v) e-money issuance service
- vi) digital payment token service
- vii) money-changing service
- insurers who may carry our business in Singapore as licensed insurers, authorised reinsurers, approved Marine, Aviation and Transit (MAT) insurers, or foreign insurers – insurance brokers may conduct insurance broking activities in Singapore as registered insurance brokers or approved insurance brokers.
We act on your decision to set up/incorporate the business structure as required, in addition to assisting with the entire licensing process with MAS for FIs.
Ongoing compliance matters
We work with clients to ensure compliance with local corporate regulatory requirements. Our key services include:
|Being appointed as your company secretary||Preparation and maintenance of Company Memorandum and Articles (Company Constitution)||Maintaining statutory books and registers|
|Ongoing resolutions preparation and filing||Company meetings||Annual filings and statutory reporting|
|Nominee services||Registered office address||Other regulatory and statutory reporting|
Accounting and payroll
We work with you to ensure compliance with accounting standards and payroll-related requirements and to develop standard processes and internal controls to ensure that there are no internal threats, and that information is delivered with accuracy and transparency.
We provide a full spectrum of accounting and payroll-related services including:
- accounting and bookkeeping
- XBRL preparation/conversion
- financial consolidation
- financial statutory reporting
- payroll services.
Accounting and HR services function outsourcing
We work proactively as your strategic partner to provide end-to-end finance, accounting and HR services function support. We are well positioned to help maximise an organisation’s business value through best practices and knowledge sharing.
We partner with Xero and QuickBooks to help businesses leverage cloud-based technology for seamless accounting and better financial control.
Key benefits include:
- cost and time savings
- ensuring data security and business continuity
- real-time information on your finances
- enhanced collaboration with your business partners, accountants, managers and other staff based in different locations.
We have the expertise to serve clients with domestic and global multi-tax compliance services including the tax incentives that each jurisdiction offers.
Our services include:
- corporate tax
- personal tax
- international tax advisory
- Goods and Service Tax (GST) services
- transfer pricing
- withholding taxes.
We provide corporate compliance services that are designed to deliver custom-made solutions for our clients. We ensure that our services are bespoke, cutting-edge, and practical for all users and ultimately meet our client’s individual needs.
To learn more about our corporate compliance solutions, get in touch with our APAC Compliance Solutions team today.