In today’s complex business landscape, the importance of good corporate governance cannot be overstated. It forms the cornerstone of a company’s operations, ensuring transparency, integrity, and accountability. At Inctro, a leading chartered secretary services firm in Singapore, we understand our professionals’ role in fortifying corporate governance. Chartered Secretaries: Navigators in the Sea of Governance A

Becoming a company director in Singapore is an exciting opportunity, brimming with potential for growth and success. However, it also brings a range of legal responsibilities crucial for maintaining the company’s compliance and standing. Here at Inctro, we’ve prepared a guide to help new company directors understand their legal obligations and ensure they fulfil their

Introduction  The alarming scarcity of certified public accountant (CPA) talent in the United States is raising red flags for leaders in the financial planning industry. With the ever-growing demand for tax services, financial planners must establish reliable partnerships with CPAs. This blog delves into US CPA firms’ need to seek out and collaborate with overseas

Introduction: At Inctro, we understand that Certified Public Accountants (CPAs) in the US face a multitude of challenges, from managing their clients’ financial records to ensuring compliance with ever-evolving tax regulations. Outsourcing can be a viable solution for CPAs who want to streamline their operations and focus on their core competencies. In this blog post,

Introduction In today’s competitive and fast-paced business environment, accountancy firms seek innovative solutions to improve efficiency, reduce costs, and streamline operations. Inctro, a leading CPA outsourcing service provider, has emerged as a game-changer in this space, offering a comprehensive range of services to practitioners in the US. This blog post delves into how Inctro’s CPA

If you’re a freelancer in Singapore, you’re likely already familiar with the benefits of being your boss. However, have you considered taking your business to the next level by opening a private limited (Pte Ltd) company? Here are some reasons why you might want to consider making the switch: Separation of personal and business assets

1. Introduction to CPF Singapore The Central Provident Fund, or CPF Singapore, is a social security savings scheme to support Singaporeans in their retirement, housing, and healthcare needs. Employed citizens and permanent residents make regular CPF contributions throughout their working lives, with employers also contributing. The scheme is essential to Singapore’s financial landscape, and understanding

Introduction As the tax season rolls around, individuals in the United States must navigate the complexities of filing their income tax returns. One key aspect of this process is deciding whether to take the standard deduction or itemize deductions using Schedule A (Form 1040). At Inctro, our team of tax experts can help you make

Introduction: Inctro’s Success in Singapore Inctro’s astounding success since its inception can be primarily credited to the exceptional professionalism and unwavering integrity that have defined its team’s approach to crafting tailored solutions for its esteemed clients. Consequently, the company has consistently ensured timely service delivery through cutting-edge resourcefulness, expertly guiding businesses through the complexities of

Becoming a permanent resident (PR) in Singapore is a significant step for individuals who wish to stay here for an extended period. PR status enables you to enjoy the benefits of living and working in Singapore without the restrictions imposed on foreigners on short-term visas. This blog will discuss the steps to apply for permanent

Introduction On March 1st, the Ministry of Manpower in Singapore announced a new mandate for the Employment Pass (EP) that requires employers to provide independent third-party testament to the diploma and higher qualifications of the expectant with effect from September 2023. This blog explores the reasons behind this new mandate and its potential impact on

On Friday, the Bank of Japan (BOJ) held its last policy meeting with retiring central bank governor Haruhiko Kuroda. It decided to maintain ultra-low interest rates and hold off on changing its controversial bond yield control policy. Most analysts widely expected the decision, but it made the Yen and local bond yields tumble as some

Singapore’s Global Investor Program (GIP) has been a popular route for foreign investors and their families to obtain permanent residency since its inception in 2004. The program aims to attract foreign investors who can make a significant economic impact in Singapore and support the local start-up ecosystem and the broader financial sector. However, the Economic

On January 1st, 2023, Singapore launched the Overseas Network and Enterprises (ONE) pass, a new visa that offers five-year validity to attract top global talent. However, the $30,000 monthly salary required for the ONE Pass presents challenges for businesses in recruiting top talent. ONE Pass Salary Threshold While businesses are willing to pay competitive salaries

A limited liability company (LLC) is a popular business structure for entrepreneurs looking to start a business in Singapore. An LLC offers several benefits to business owners, including the protection of personal assets, ease of management and a straightforward tax system. This article will discuss the basics of LLCs in Singapore, including their formation, management

The provision of EntrePass in Singapore is a significant motivation for future business leaders. It is primarily meant for foreign entrepreneurs who are competent and passionate about actualising new businesses, particularly those fueled by venture support or involving cutting-edge technologies.  Introduction to the EntrePass and its eligibility criteria As outlined by the Ministry of Manpower

We have been discussing why Singapore makes perfect sense for you to penetrate and establish your presence in the South East Asian region. This blog will discuss how Inctro can help you incorporate your business in the city-state.  Inctro is a Singapore company specialising in helping international businesses set up a company in Singapore. It

In Singapore, all companies are required to appoint a company secretary within six months of their incorporation. The company secretary is responsible for ensuring that the company complies with various legal and regulatory requirements. This blog will provide an overview of what company secretary services entail and how Inctro can assist businesses in Singapore. What

Introduction: Supporting Innovative Research in Singapore The newly introduced Enterprise Innovation Scheme (EIS) by Finance Minister Lawrence Wong, while unravelling the Singaporean budget for 2023, chiefly preoccupies itself with the central goal of fostering Research and Development (R&D) Activities in Singapore, implying optimised tax deductions for staff expenses and consumables. The enhanced tax incentives immensely

In Singapore, one of the most popular forms of business entity is the Limited Liability Company (LLC), also known as a Private Limited Company. An LLC is a company incorporated under the Companies Act and offers limited liability protection to its shareholders, meaning their assets are protected from business liabilities. Advantages There are several advantages

Onboarding new employees is a critical process for any company to ensure that they integrate well into the organisation and become productive quickly. This is especially true in Singapore, where there are specific rules and regulations that employers need to follow. In this blog, we will discuss the steps that companies can take to onboard

Singapore is a hub for international businesses, making it an attractive location for foreign talent to work in. To support this, the country offers several types of work visas, including the Personalized Employment Pass (PEP). The Personalised Employment Pass is a type of work visa specifically designed for high-skilled professionals and executives. Not linked to

If you are a resident or an employee in Singapore, you might be familiar with the IR8A form. IR8A, also known as the Employer’s Return of Remuneration Paid, is one of Singapore’s most important tax forms that employers must file annually. This form reports all the remuneration paid to employees during a financial year and

The disparities between Employment Pass (E Pass) and S Pass have been formulated primarily based on the gaping gulf between varying professional skills and expertise levels. While both these documents function as work permits, the two diverge in terms of various factors, including applicability, eligibility, validity, registration processes and minimum salary requirements.  The employment pass

Individual tax rates are important for international businesses because they can impact the company’s bottom line and competitiveness. Higher individual tax rates can increase the cost of operating in a country, making it less attractive to foreigners incorporating new businesses there. On the other hand, lower tax rates can make a country more appealing to

The administrative and regulatory recognition of private commercial firms in Singapore is most significantly realised through the Unique Entity Number (UEN), an exclusive identification code provided to a business Organisation following successful registration with the Accounting and Corporate Regulatory Authority (ACRA), thus allowing it to operate legally in the Singaporean domain.   Previously known as the

Are you planning to expand your business overseas?  Check out why Singapore is where you should incorporate your overseas entity. Singapore is a popular destination for business incorporation due to its favourable tax regime, well-developed infrastructure, and highly skilled workforce.  Why Incorporate in Singapore? Singapore is desirable for company incorporation due to its favourable business

Although, it can be a hassle to keep and maintain all the company documents safe. The documents serve as tangible proof of the overall company’s development and the state government approval. The official documents and certificates play a crucial role in helping you get licensed to form a company. After forming a company, you can

Once a company is incorporated and you receive all the required business licences and permits from the Singapore government. The next challenging task is to attract more clients. To achieve your goal, you need to create a concrete plan that will help you improve your business support and eventually increase your customer base.  Great Keys

Establishing a company in Singapore, business owners need to obtain a specific business license. A business license is mainly a permit issued by the government of Singapore allowing the organization or company to conduct a particular type of business.  However, to apply for a business license in Singapore, the company must first get incorporated and

International expansion has become the need of the hour today. Keeping in mind the competition and the operational costs involved in running a business, it is extremely important for businesses today to cross seas and establish themselves outside their native places.  There are various strategies and levels applied to keep different businesses expanded globally.  Reasons

The world is getting more advancements in technology with each passing day. Regardless of its size, every business lays more emphasis on faster returns by doing multiple projects. The need for more hands or support is what every business requires, be it a small or large one. It is just not a job of making

Following are the key steps for incorporating a business in Singapore.

This structure is ideal for very small businesses. A sole proprietorship is a business entity where an individual person owns and carries on a business without the use of a separate and distinct business form.

A Limited Liability Partnership (“LLP”) combines the features of partnerships and companies.  LLP is more similar to a private limited company. In an LLP, each individual partner’s liability is limited.

A private limited company in Singapore is a separate legal entity and shareholders are not liable for the company’s debts beyond the amount of share capital they have contributed.

A foreign company can set up a Representative Office in Singapore if it fulfills the following qualifying conditions:

A branch office is registered in Singapore is considered as an extension of its parent company and not as a separate legal business entity. Its liability extends to its parent company.

If you wish to expand to Singapore by incorporating an entity of which the majority of shares are held by the other (including foreign) company, then this package is suitable for you.

The Singapore Entrepreneur Pass, which is also known as the Entre pass, is a work visa granted to foreign Entrepreneur, high-grade innovator or a seasoned investor looking to set up a company in Singapore that is venture-backed or possess innovative technologies.

As per Singapore’s Companies Act, all Singapore incorporated companies must have at least one resident director on their company’s board at all times, including at the date of incorporation.