Singapore company transfer-in in 2023
Since 2003, multi-national Clients’ ask Healy Consultants Group PLC to manage their existing Singapore company including i) company secretary services and legal registered office address and ii) virtual office services iii) professional passive nominee resident director iv) assistance to complete all monthly, quarterly and annual accounting, tax and payroll filing obligations of their business.
Singapore transfer-in steps
- Before Healy Consultants Group PLC proceeds with the Singapore company transfer-in, our Firm request our Clients to kindly i) sign and email return our engagement letter and ii) supply us Know Your Customer due diligence and iii) settle our engagement fees;
- Simultaneously, we supply our Clients with complete due diligence of our professional passive nominee resident director and company secretary;
- Healy Consultants Group PLC emails to our Client via hello-sign all forms necessary for our appointment including i) the Singapore company secretary and nominee resident director appointment forms ii) the change of legal registered address forms. There is no need to courier any document to our Singapore office;
- Within two days thereafter, our Staff will update the Accounting and Corporate Regulatory Authority of Singapore (ACRA) system. The company transfer-in process is complete, and we provide our Client an updated bizfile reflecting all statutory changes;
- Thereafter, our team will conduct a detailed review of all outstanding obligations of our Client’s company. Following completion of this step, Healy Consultants will provide our Client with a simple report of all outstanding filing obligations and penalties (if any).
- When the company filing obligations fall due, our accounting team will contact our Client to i) secure a trial balance for the financial year or ii) (if required) supply bookkeeping services then iii) supply our Client with draft financial statements and corporate income tax return for review and signature before iv) filing all documents with the Singaporean authorities;
- After completion of all accounting and tax filing obligations, we supply our Client with a “summary of obligations” document; as written evidence of timely accurate completion of all statutory obligations;
- For a detailed overview of how our team completes all annual, quarterly and monthly accounting and tax filing obligations, refer to this webpage.
What are the accounting and tax considerations of Singapore company transfer-in for a company with Financial Year End 31 Dec?To meet our multi-national Clients’ expectations, the table below outlines typical annual statutory obligations.
Future Singaporean government filings Due date Comments Estimated Chargeable Income (ECI) 3 months after FYE Our firm can secure an exemption from these statutory obligations. Annual General Meeting (AGM) 6 months after FYE Our firm can secure an exemption from these statutory obligations. Annual return (AR) 7 months after FYE Healy Consultants Group PLC’s in-house Accounting and Tax Department (ATD) will timely and accurately complete these statutory obligations. Corporate Income Tax (CIT) return 30 Nov (applicable for all companies regardless FYE) Healy Consultants Group PLC’s in-house Accounting and Tax Department (ATD) will timely and accurately complete these statutory obligations. Goods and Service Tax return (GST) filing 1 month following end of quarter (30 Apr, 31 Jul, 31 Oct, 31 Jan) In case required, our team of experts can provide you assistance with GST quarterly filing.
Our Singapore transfer-in feesOur standard one off transfer in fee is US$1,940. For details of other renewal fees applicable during first and second year, please refer to attached embedded pdf file.
Why transfer the administration of your Singapore company to Healy Consultants Group PLC?
- Total engagement fees and timelines are agreed and paid-up front. Consequently and during the engagement, there are no unwanted surprises;
- Healy Consultants Group PLC’s diverse and multi-cultural team can communicate in many different languages, including i) English ii) Mandarin iii) French iv) Bahasa v) Russian vi) Cantonese and other global languages. See this page for the profiles of our key staff members;
- We are a one stop shop providing Singapore business set up, administration, legal, accounting, banking, immigration, recruitment and marketing services, enabling you to spend more time running your business, and less time managing its obligations. More information on the range of services we provide is available here.
- We have two decades’ experience in company registration, corporate administration, corporate bank account opening, accounting and tax services and legal compliance in Singapore. Our Asia headquarters are located in Singapore (view location here).
- We strive to be the best in the world at what we do. See this page for more information on what distinguishes us from our competitors.
- Unlike most other Singapore corporate service providers, we can also assist our Clients to administer their companies all over the world. Multiple multinational corporations (MNCs) and high net worth entrepreneurs having a global footprint often choose us for this reason.
What is required from our Client?
During transfer in engagement, the following information will be required from our Client i) contact details of former company secretary and nominee resident director ii) latest bizfile of the company iii) e-signature on transfer in specific resolutions prepared by our team iv) corpass access v) latest financial statements of the company vi) due diligence documents(click link) including signed engagement letter.
ConclusionContact Healy Consultants Group PLC if you need help with your Singapore company transfer-in.