The steps for setting up a company
Once your company fulfills all the requirements of company incorporation, you can proceed to the incorporation process. Here are the steps to set up a company in Singapore:
- Fill up the Singapore Company registration form
- Review your documents and make sure that all the relevant documents are available
- Register the company name
- Ensure all the necessary documents are ready
- Sign the incorporation documents
- Incorporate the company with the Accounting and Corporate Regulatory Authority (ACRA)
Of course, it can be complicated if you have no experience in setting up a company in Singapore. Paul Hype Page Specialist can help if you prefer to start your business in a more efficient manner. Contact us today!
Know your customer (KYC) check
You must also pass the Know your customer (KYC) check to set up a company in Singapore. KYC check refers to due diligence activities that all regulated companies must perform to ascertain relevant information from their clients for doing business with them. Everyone who is setting up a company in Singapore is required to pass the KYC process. This is a necessary measure to ensure that everyone that has a company in Singapore is legitimate entities.
With our ibizfile system, together with the assistance of Dow Jones, the process of conducting a KYC search is easy, effective, and legitimate in accordance with the Singapore legal system.
Why KYC is Important
We need to understand who you are. Paul Hype Page & Co has a long-standing history with many reputable clients. With that in mind, we do not want to engage in any businesses with individuals and/or companies that will tarnish the image of this company, the image of Singapore, and the country that our potential clients hail from.
In Paul Hype Page & Co, we believe in having the ‘RIGHT CUSTOMERS’, and we strive for the continuity of this.
When is client due diligence required?
Client due diligence is required when an institution covered by AML and Countering the Financing of Terrorism (CFT) regulations enters a business relationship with a client.
This process applies not only to Paul Hype Page and Co’s new clients but also to existing clients to ensure that records remain up-to-date and relevant.