If you are planning to start a business in Singapore, incorporation is the first process you need to undergo before you can formally open your company. Incorporation has a lot of benefits for you as a business owner.
It separates you legally from your business, which means that your company is a different legal entity once it has been incorporated. On top of that, you are also allowing the law to recognize your business as existing.
You can file your taxes and claim tax credits if your business is registered with the right authority. Now that incorporation has been mentioned, there actually different ways to go through such process and one way is by getting a corporate service provider.
A corporate service provider is a company that can provide support solutions for businesses including business incorporation, registration, secretarial services, accounting, payroll, taxation, work permit processing, and so on.
This entity is professional in Singapore company incorporation services and that means that you can rely on it when it comes to incorporating your company in Singapore.
Why corporate service provider for company incorporation?
1) It saves you time.
One of the few reasons why you will benefit from the services of a corporate service provider is that it saves you time. Business incorporation is not an easy task.
It’s actually a hectic process especially if it’s your first time establishing a business in Singapore.
You have to prepare everything and it takes a lot of time. What you need in your business is time to establish a strong foundation, not waste time in going through incorporation.
2) It saves you money.
Apart from the time you have to spend when incorporating, you will likely spend money on it as well. There are fees that you have to pay to incorporate your company.
While you won’t be able to avoid these fees when you hire a corporate service provider, what you can save is the money you will pay for your gas when you go to government offices to submit documents and anything that comes with the incorporation process.
If you will combine your expenses overall, it’s still more affordable to get someone who will do the work for you than do it by yourself.
3) You are assured that your business is in compliance with the rules and regulations.
One of the purposes of incorporation is to ensure that you are in compliance with the rules and regulations of the Singaporean government.
For new business owners, this is really a challenge. The list of requirements will make you lost. What more if you have to comply with the due dates?
With a corporate service provider, you are assured that your business is following all the legal requirements imposed by the government.
Since a corporate service provider is known as a professional in business solutions, it can use its experience to deliver high-quality deliverables to you.
4) You can focus on other important aspects of your business.
Hiring a corporate service provider is beneficial because it allows you to focus on other important aspects of your business. The provider will do everything for your business.
All you have to do is to focus on what makes it earn. Incorporation is a basic business solution you can outsource if you need more time for your operation and management.
You can leave the job with the provider while you brainstorm the ideas and strategies that your business needs to make sales. Your time is best spent on business matters that will truly help you yield.
5) Less paperwork
What most business owners avoid these days is paperwork. Although there are already computers and almost everything can be done and submitted online, the government still prefers hard copies of the requirements for easier verification.
With someone who is going to do the process of incorporation for you, you will deal with less to no paperwork at all.
All you have to do is to give to the provider what it needs and it will do the rest until the very last stage of the process. Less paperwork means more time dealing with the core of your business!
6) It’s a good strategy if you are a foreign national.
Foreign nationals build their businesses here in Singapore because it is a good country to build wealth.
If you are trying to expand your business abroad and this is your first time entering the Singaporean market, you need to have a good grasp of how to do business here.
Instead of spending time learning how to incorporate a company in the country, it’s a good strategy to hire a corporate service provider from Singapore that has been serving foreign clients. With its help, you will have more time to study the market as a new entrant.
7) It’s a one-stop solution.
A corporate service provider usually offers every business solution that you need–incorporation, registration, payroll, bookkeeping, accounting, taxation, and so on.
It’s a one-stop solution for you. In case you are not planning to create an in-house team to do these kinds of work, outsourcing is a good alternative then. You will definitely find it more cost-effective if you will get a combination of these services.
Most corporate service providers in Singapore offer discounts to clients who will hire them for several jobs or in the long run.
Incorporation is a mandatory step in every startup. It works by determining where you want to incorporate your company, what type of business fits your goals, and which licenses and permits are needed for you to operate legally.
Along the way, you will face big challenges that will make you doubt. Having someone to assist you while you build your dream of becoming a business owner in Singapore really helps.
In case you have zero knowledge of the incorporation process in the country, there is no need for you to waste time in mastering its steps. You can hire a corporate service provider to give you the business solution you currently need.