Singapore Expats

I want to incorporate my ecommerce business in Singapore as a Canadian.

Do you have any recommendations for a company formation and/or tax planning firm that you've been satisfied with?

Thanks

Or maybe recommendations on a reliable CPA with international or ecommerce experience?

I heard they're cheaper than hiring a firm specializing in business formation.

There are many companies that can help you set up a company. No point in me naming any as I don't want to direct attention to any of them.

It's not exactly rocket science to do all this, one thing I would look at is bookkeeping/accounting though. I would imagine it's better to go with a company that is strong in this area as the rest (setting up, address, etc.) is the simple side.

Yes, you're right. Business formation is considered to be a walk in the park in Singapore, but what I'm asking for are recommendations.

Any recommendation from someone who's had experience in this is better than no recommendation.

Still, find a good company in terms of running bookkeeping/accountancy and have them do the rest... rather than the other way around.

If you look for companies that are popular in terms of just starting a company for you then you might end up with completely clueless people when it comes to the important bits like doing the numbers for you.

aster wrote:Still, find a good company in terms of running bookkeeping/accountancy and have them do the rest... rather than the other way around.

If you look for companies that are popular in terms of just starting a company for you then you might end up with completely clueless people when it comes to the important bits like doing the numbers for you.

Agreed

Do you have any recommendations then?

quicksilver1024 wrote:

aster wrote:Still, find a good company in terms of running bookkeeping/accountancy and have them do the rest... rather than the other way around.

If you look for companies that are popular in terms of just starting a company for you then you might end up with completely clueless people when it comes to the important bits like doing the numbers for you.

Agreed

Do you have any recommendations then?

My CPA accountant that I've used for 7 years. Won't know much about international issues, knows local stuff very well.

Can also set you up with nominee director which you will need unless you are already a PR. On EP, situation is cloudier... you can register a company but if you are active director, you are violating terms of EP. Outside director, maybe OK. Saw Bin can tell you.

Tan Saw Bin<SawBin>
S B Tan and Company
+65 6844 8626
118 Aljunied Avenue 2 #06-104
Singapore 380118

Strong Eagle wrote:
My CPA accountant that I've used for 7 years. Won't know much about international issues, knows local stuff very well.

Can also set you up with nominee director which you will need unless you are already a PR. On EP, situation is cloudier... you can register a company but if you are active director, you are violating terms of EP. Outside director, maybe OK. Saw Bin can tell you.

Tan Saw Bin<SawBin>
S B Tan and Company
+65 6844 8626
118 Aljunied Avenue 2 #06-104
Singapore 380118

How does a foreign director work on his business in Singapore then? Is the Entrepass the only way? It's quite annoying to have to apply every year or two.

They don't. Yep. It's their ball park and their ball. You play by their rules or you don't play. Simple really.

sundaymorningstaple wrote:They don't. Yep. It's their ball park and their ball. You play by their rules or you don't play. Simple really.

Boo-urns

People have had success in forming a company, then applying for EP from that company IF certain conditions are met. They would include a solid track record of prior performance, contracts ready to go for the future, and a 'professional' business such a project management, forex, etc.

Entrepass rules were tightened up because of abuse... people with poor plans, no business knowledge, and insufficient capital used the Entrepass as a way to back door themselves into Singapore.

It makes it harder for everyone, and if it looks like you have a high chance of success (aka - paying taxes), there are alternatives to the Entrepass for non manufacturing, non retail types of businesses.

Strong Eagle wrote:...there are alternatives to the Entrepass for non manufacturing, non retail types of businesses.

What are the alternatives? What about for businesses that sell products online? Is the Entrepass and EP the only way to go or are there alternatives for those sort of businesses as well?

quicksilver1024 wrote:

Strong Eagle wrote:...there are alternatives to the Entrepass for non manufacturing, non retail types of businesses.

What are the alternatives? What about for businesses that sell products online? Is the Entrepass and EP the only way to go or are there alternatives for those sort of businesses as well?

I don't really know how to answer this. The original Entrepass rules allowed someone to set up a 'one man' business, such as web designer, etc. The new rules are clearly oriented towards manufacturing, retailing, and other commercial activities where slathers of locals get hired.

I do know that people working as project/program managers, people with an active online business that was formerly conducted elsewhere have been able to start a pte ltd with a nominee director and then get an EP for the principal player.

I don't know the rules for shifting from one employer to another with a PEP. Can you elaborate? There might be a way to do it in your situation.

My company has been in business just a bit over one year now. Do you think that's enough time for the government to recognize my business and issue an EP?

Hi strong eagle,

You mentioned your CPA
Does he have a email address ?
I'd contact him and get a quote for my incorpation in Singapore next month.

http://forum.singaporeexpats.com/ftopic84647.html

Tan Saw Bin<SawBin>
S B Tan and Company
+65 6844 8626
118 Aljunied Avenue 2 #06-104

Singapore 380118