What is KYC
Know your customer (KYC) 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 incorporating a company in Singapore are required to pass the KYC process. This is a necessary measure to ensure that everyone that has a company in Singapore are 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. These are all done in accordance with the Singapore Evidence Act.
The Process to a Successful Private Limited Company Registration
- Propose and reserve your company name in Singapore. However, Accounting & Corporate Regulatory Authority (ACRA) will reject a proposed company name if,
- It is identical to another existing Company Name
- It is undesirable
- It is similar to an established name or trademark
- Prepare your Singapore company incorporation documents
- Register your company with ACRA
- Opening of corporate bank accounts
- Submit an electronic Certificate of Incorporation
- Obtain a company/branch office Business Profile extract from ACRA
- Create minutes of the first board meeting
- Create and keep in safe custody the company seal or company/branch office rubber stamp and pay the relevant government and professional fees.
Typically, the process to have your company up and running takes about 24 – 72 hours. However, that will depend on how fast we are given all the documents required. Company registration might take longer if,
- The company is a corporate entity
- Identity card/ passport / corporate ID failing the required risk assessment test
- Insufficient documents presented
- Expiring of documents in iBizfile after 72 hours
Minimum Requirements for a Singapore Company Registration
Shareholder (individual or corporate)
- At least one local/ permanent resident director
- Company secretary
- Initial paid-up share capital of at least $1
- A physical Singapore registered address (this can be an office or a residential address)
Opening a Corporate Bank Account in Singapore
Once the company has been incorporated, you may open a corporate bank account with any of the local or international banks based in Singapore.
The Added Value We Bring to You
As Singapore’s NO. 1 company incorporation service provider, our dedicated Corporate Specialists are here to guide you through the entire Singapore company incorporation process, to make sure you have your business in Singapore a smooth sailing process.
Paul Hype Page & co have 3 physical offices located in Malaysia, Indonesian and Singapore. We also have a virtual office in Korea.
That means, coming in with Paul Hype Page & Co, do not only open you to the Singaporean client base, but open a possibility of conquering the Association of Southeast Asian Nations (ASEAN) region.
With 3 other offices in the Association of Southeast Asian Nations (ASEAN) region, we can guide you to venture your business into that region.
In ASEAN, it all about personal relationship. Hence, our dedicated and friendly staffs at Paul Hype Page & Co will provide you with personalize and private consultation if you need help with matter such as,
- Banking within your jurisdiction
- Business liaising with the government department
- Business license applications
- Emailed documentation of your addresses matters on your residency, financial background from your country of origin
How our Physical Presence Will Help You to Save Tax and Consider Tax Evasion
A key consideration for setting up an offshore company in Singapore is the corporate tax rates but Paul Hype Page & Co has a distinct advantage because with our physical office and staffs. We offer the following services to ensure that you are TAX Compliance:
- Domiciliation Services
- Services Office with REAL staffs running your operation
- Registered Agent Services
Satisfied with the explanation. Incorporate now with us.