Which of these services would you like to know about?
ACCOUNTING AND TAXATION
AUDIT AND ASSURANCE
BUSINESS ADVISORY, PLANNING, AND GOVERNMENT GRANTS
BUSINESS LICENSE SERVICES
BUSINESS SUPPORT SERVICES
COMPANY INCORPORATION & BUSINESS FORMATION
CORPORATE SECRETARIAL SERVICES
IMMIGRATION SERVICES – EMPLOYMENT PASS APPLICATION
ACCOUNTING AND TAXATION
Enkindle Corporate Services offers a full spectrum of accounting, bookkeeping and taxation services to SMEs at reasonable and competitive prices. We aim to be professional, efficient and accurate in our work, and be transparent with how we price our services. “Best in Class Services at Competitive Prices”.
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BOOKKEEPING
FINANCIAL REPORT
GST MATTERS
TAX PLANNING & RETURNS
XBRL FINANICIAL REPORT
Book Keeping
All companies registered in Singapore are required to keep proper books of accounts by law. You can outsource to our accountants to compile your accounts information for submission to ACRA (Annual Returns) and IRAS (Tax).
At Enkindle Corporate Services, our accountants strive to deliver a full spectrum of accounting services.
Our book-keeping package provides the following;
- Professional accounting services provided on monthly, quarterly and annual basis determined by you.
- Statement of Financial Position, Statement of Comprehensive Income, Trial Balance and General Ledger.
- Our package can also include compilation of Unaudited Financial Statements as required.
Please contact us with the following details so that we can give you a quotation:
- Company name
- Business nature
- Any schedule is prepared to monitor the sales made by the Company
- Any schedule is prepared to monitor the purchases incurred by the Company
- Any private use of the bank account
- How many pages of the bank statement per month
- Expected monthly revenue and number of sales transactions.
- Expected number of transactions for expenses and purchases incurred during the financial year
- GST registered or not?
- Any other special item like hire purchase, loan is obtained
- Currency involved in sales and purchase (Type of foreign currency)
- Last year financial statement with detail income statement (not applicable for the newly setup company)
- Frequency of preparation of accounts – Monthly basis, Quarterly basis, Half yearly basis, or Annual basis
- Does your Company has any internal accounting software and do you need our accountant to perform on site?
- Does the account need to be audited?
- How many staff is hired during the financial year?
Upon taking up our book keeping services, we will require the following information:
(Your assigned accountant will guide you in detail)
- Bank Statements (12 months)
- Cheque records (issued & received )
- Petty Cash Vouchers
- Sales & Purchase orders/invoices
- Payment Vouchers (including suppliers & expenses)
- Payroll Vouchers (including casual labour, cleaner & part-timer)
- CPF Statement / Foreign Worker Levy (If Applicable)
- Sales / Credit Note / Debit Notes
- Borrowing / Hire Purchase / Tenancy Agreement (If Applicable)
- Unpaid Suppliers’ Invoices
- Asset and inventory, etc.
Financial Report
Compilation of Unaudited Financial Statements
(In accordance to Singapore FRS)
Section 201 of the Companies Act states the requirements for directors of Singapore incorporated companies to prepare financial statements that comply with Accounting Standards (also commonly known as Financial Reporting Standards). The Companies Act defines “Accounting Standards” as “accounting standards made or formulated by the Accounting Standards Council under Part III of the Accounting Standards Act 2007 (Cap 2B)”. Therefore, Financial Reporting Standards (“FRSs”) issued by the Accounting Standards Council (“AS Council”) have the force of law. This includes Interpretations of Financial Reporting Standards (“INT FRSs”).
Companies may state that their financial statements have been prepared in accordance with FRS only if they have complied with all FRSs and INT FRSs issued by the AS Council that are applicable to them.
The statutory financial statements for companies are filed with ACRA when filing the Annual Returns, together with the Directors’ Report and Statement by Directors. It is important to note that the Directors’ Report and Statement by Directors are not part of the financial statements.
Our Compilation of Unaudited Financial Statement package will include:
- Directors’ Report
- Statement by Directors
- Statement of Financial Position (Balance Sheet)
- Statement of Comprehensive Income (Profit & Loss)
- Statement of Changes in Equity
- Statement of Cash Flow
- Noted to the Financial Statements.
GST Registration and Filing
Goods & Services Tax (GST) is a broad-based consumption tax levied on the import of goods (collected by Singapore Customs), as well as nearly all supplies of goods and services in Singapore. The only exemptions are for the sale and lease of residential properties, the importation and local supply of investment precious metals and the provision of most financial services. Export of goods and international services are zero-rated. In some countries, GST is known as the Value Added Tax (VAT).
Contact us, we will explain in detail how Singapore GST works and advise you on the benefits and trade-offs by being GST registered.
Our GST Services includes:
- GST Form 5 Preparation for GST returns to IRAS
- GST Registration
- Conduct GST assisted self-help kit (ASK)*
We can also help you ensure full compliance by:
- Reviewing your GST practices and recommend essential and good practices into your internal processes
- Providing you with a complete checklist for filing of GST return so that you do not make errors.
- Conducting GST compliance review
*Note: GST assisted self-help kit (ASK) is compulsory if you are applying for any of the following GST schemes:
a) Import GST Deferment Scheme (IGDS);
b) Approved Marine Customer Scheme (AMCS);
c) Approved Contract Manufacturer and Trader (ACMT) Scheme;
d) Approved Refiner and Consolidator Scheme (ARCS);
e) Major Exporter Scheme (MES); or
f) Approved Import GST Suspension Scheme (AISS).
Or if you are renewing any of the following:
a)Import GST Deferment Scheme (IGDS);
b)Major Exporter Scheme (MES); or
c)Approved Contract Manufacturer and Trader (ACMT) Scheme.
GST on Imported Services
From 01 Jan 2020 onwards, Singapore will impose GST on imported services via the following methods:
- Reverse charge regime for Business-to-Business (“B2B”) supplies of imported services. B2B supplies refer to supplies made to GST-registered entities; and
- Overseas vendor registration regime for Business-to-Consumer (“B2C”) supplies of imported digital services. B2C supplies refer to supplies made to non-GST registered persons, which include individuals and all entities that are not registered for GST.
Tax Planning & Tax Returns
Tax Planning & Tax Returns Services
- Corporate Tax optimization planning and filing service
- Preparation of tax computation, optimized to minimize your tax liabilities.
- Submit Company Tax returns and Appendixes to IRAS. (Form C / Form C-S)
- Annual ECI filing
- Sole Proprietor/ Partnership / LLP Tax optimization planning and filing service (Form P, B1, B)
- Singapore Certificate of Residence Application (COR)
Company Tax Obligations:
The following income tax filing obligations will apply to all companies, except dormant companies for which IRAS has waived the requirement to file the Income Tax Return (Form C/ Form C-S):
- Filing of Estimated Chargeable Income (ECI) within three months from your financial year-end; and
- Filing of Income Tax Return (Form C/ Form C-S) on your actual income by 30 Nov in the year following the financial year.
What is a COR?
A COR is a letter certifying that the company is a tax resident in Singapore for the purpose of claiming benefits under the Avoidance of Double Taxation Agreement (DTA).
XBRL Financial Report
All Singapore incorporated companies (unlimited or limited by shares) unless exempted are required to file their financial statements with ACRA will be required to file a full set of financial statements in XBRL format.
In general, all Insolvent Exempt Private Companies (EPCs) will be required to file XBRL. Please refer to ACRA website for current exemption criteria.
Our Services include:
- Preparation of full set of financial statements in XBRL format
- Preparation of XBRL Financial Highlights (FSH)
- Ensuring that the Bizfile Validation is completed and approved.
Document required for preparation of XBRL reporting:
- FRS Financial Report in MS Word format. Additional fees apply if only PDF format is available.
AUDIT AND ASSURANCE
Our affiliated partners – Edwin Tay & Co. LLP provides audit and assurance services for small and medium-size enterprises operating in Singapore. Edwin Tay & Co. LLP has over 35 years of experience and is known to be reliable and trustworthy. We are proud to be able to work with them.
Statutory Audit Service
Statutory Audit Service
The directors of every Singapore Company must appoint an auditor within 3 months from the date of incorporation unless the company is audit exempted.
Financial years beginning on or after 01 Jul 2015. Small Company Concept for Audit Exemption:
Qualification Criteria
A company qualifies as a small company if:
(a) it is a private company in the financial year in question; and
(b) it meets at least 2 of 3 following criteria for immediate past two consecutive financial years:
(i) total annual revenue ≤ $10m;
(ii) total assets ≤ $10m;
(iii) no. of employees ≤ 50.
For a company which is part of a group:
(a) the company must qualify as a small company; and
(b) entire group must be a “small group”
to qualify to the audit exemption.
For a group to be a small group, it must meet at least 2 of the 3 quantitative criteria on a consolidated basis for the immediate past two consecutive financial years.
Where a company has qualified as a small company, it continues to be a small company for subsequent financial years until it is disqualified. A small company is disqualified if:
(a) it ceases to be a private company at any time during a financial year; or
(b) it does not meet at least 2 of the 3 the quantitative criteria for the immediate past two consecutive financial years.
Where a group has qualified as a small group, it continues to be a small group for subsequent financial years until it does not meet at least 2 of the 3 the quantitative criteria for the immediate past two consecutive financial years.
Edwin Tay & Co. will adopt an audit plan that is designed to provide reasonable assurance that the company’s accounting records and financial statements are presented fairly and not misrepresented. While they are your auditor, they can add value by helping you drive good corporate governance to improve controls, deter and detect material fraud and errors thus providing credibility to your financial report statements. They are also able to give advice on your company structure and operations that might help you become more efficient.
Non-Statutory Audit Service
Non-Statutory Audit Service
Non Statutory audits for non-corporate entities such as partnerships, clubs, associations and charitable bodies and internal audits can drive better management control, proactive risk and compliance management, good corporate governance and continuous process improvements.
BUSINESS ADVISORY, PLANNING, AND GOVERNMENT GRANTS
At Enkindle Corporate Services, we believe in partnering our clients, viewing their successes as our own and grow together with them. “Their Success is our Success!”
We offer Business Plan development services, Management Consulting, assistance in application of Government Grants, Business Brokerage, Company Valuation.
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GOVERNMENT FUNDING ADVISORY & ASSISTANCE SCHEMES
MANAGEMENT CONSULTING & BUSINESS PLAN DEVELOPMENT
VALUATION AND BUSINESS BROKERING SERVICES
Advisory on Government Funding & Assistance Schemes.
Enkindle Corporate Services can assist startups explore and take advantage of available government grants and pro-business assistance schemes.
Interested to find out more? Call us, we hope to serve you by adding value to your organisation.
Equity Financing Schemes
- SPRING Startup Enterprise Development Scheme (SPRING SEEDS): SPRING SEEDS is an equity investment scheme where SPRING SEEDS Capital, a subsidiary of government agency SPRING Singapore, co-invests in commercially viable Singapore-based start-ups along with independent third-party investor(s), matching dollar-for-dollar up to a maximum of S$1 million; the first round of investment is usually limited to S$300,000. SPRING SEEDS Capital and the third-party investor(s) will take equity stakes in the company in proportion to their investments.
- Business Angels Fund (BAF) Scheme: The Business Angels Fund (BAF) Scheme is an equity investment scheme where SPRING SEEDS Capital, a subsidiary of government agency SPRING Singapore, co-invests in growth-oriented, innovative Singapore-based start-ups along with pre-approved business angels matching dollar-for-dollar up to a maximum of S$1.5 million. SPRING SEEDS Capital and the business angel group will take equity stakes in the company in proportion to their investments.
- Early-Stage Venture Funding Scheme (EVFS): The Early-Stage Venture Funding Scheme (EVFS), that is administered by the National Research Foundation (NRF), is a co-funding scheme where selected venture capital firms who raise at least S$10 million from third-party investors will receive dollar-for-dollar matching from the NRF up-to a maximum of S$10 million in order to invest in early-stage technology start-ups. Certain qualifying technology start-ups can approach the venture capital firms directly in order to seek funding of up-to S$3 million.
Cash Grants – “Putting money back into your pockets”.
- Productivity Solutions Grant (PSG): PSG encourages enterprises to continue their digitalisation and productivity upgrading efforts. The maximum funding support level will be raised to 80% from 1 April 2020 to 31 December 2020.
- Enterprise Development Grant (EDG): EDG helps Singapore companies grow and transform. This grant supports projects that help you upgrade your business, innovate or venture. The maximum funding support level will be raised to 80% from 1 April 2020 to 31 December 2020.
- Market Readiness Assistance (MRA) Grant: MRA grants up to 70% of eligible cost for Bussiness to expand overseas. Capped at $100,000.
- SkillsFuture Enterprise Credit (SFEC): Eligible employers will receive a one-off S$10,000 credit to cover up to 90% of out-of-pocket expenses on qualifying costs for supportable initiatives, over and above the support levels of existing schemes. i.e. Job redesign initiatives, and curated training programmes by SkillsFuture Singapore and Workforce Singapore, such as training courses aligned to the Skills Framework, Professional Conversion Programmes and sector-specific programmes.
- ACE Start-ups Scheme: ACE Start-ups Scheme is a financial assistance scheme where ACE (Action Community for Entrepreneurship) will match S$7 to every S$3 raised by an entrepreneur for up to S$50,000. For selected ventures, the total grant is S$100,000. ACE does not take equity in exchange for the financial grant.
- Startup SG Founder: Startup SG Founder provides mentorship and startup capital grant of S$30,000 to first-time entrepreneurs with innovative business ideas. Startups are required to raise and commit S$10,000 as co-matching fund to the grant.
- Startup SG Tech: The Startup SG Tech grant fast-tracks the development of proprietary technology solutions, and catalyses the growth of startups based on proprietary technology and a scalable business model. Through Startup SG Tech, companies may receive early-stage funding for the commercialisation of proprietary technology. Startup SG Tech supports Proof-of-Concept (POC) and Proof-of-Value (POV) for commercialisation of innovative technologies. Companies may apply for POC or POV grants depending on the stage of development of the technology/concept. Startup SG Tech is a competitive grant.
- Technology Enterprise Commercialization Scheme (TECS): The TECS that is jointly administered by the Infocomm Development Authority (IDA) and SPRING Singapore spurs the formation of new technology start-ups in Singapore by addressing their early-stage funding needs towards the commercialization of proprietary technology ideas. The following grants are offered under the TECS:
- For applicants who wish to develop proprietary ideas at conceptualization stage: Up-to 100% of qualifying costs for each project up to maximum of S$250,000.
- For applicants who wish to carry out further research and development on a technology project, including the development of a working prototype: Up to 85% of qualifying costs for each project up to maximum of S$500,000. The applicant must demonstrate proof of interest from a potential customer or third-party investor.
- iSTART: ACE Scheme: The iSTART:ACE (Accelerate & Catalyse Entrepreneurship) grant scheme that is administered by the Infocomm Development Authority (IDA) aims to encourage and assist Singapore-based start-ups to accelerate technology commercialization and catalyze go-to-market activities by leveraging internationally proven technologies. Under the iStart: ACE scheme, the IDA will offer funding support to qualifying start-ups by way of a grant that covers up-to 50% of salaries of five technical staff for one year up-to a maximum cap of S$250,000
- iSPRINT: Another project by the IDA, iSPRINT (Increase SME Productivity with Infocomm Adoption & Transformation) covers improvements through packaged solutions, such as for accounting and payroll, to more complex customized solutions for areas such as customer relationship management and supply chain management. Any customized solutions require that the development must be for the first-time automation of business functions. In addition, it should be carried out in Singapore, and must not have started before the grant is approved. iSPRINT is open to all locally registered or incorporated SMEs.
Business Incubation Schemes
- NRF Technology Incubation Scheme: The National Research Foundation has selected fifteen technology incubators to nurture high-tech Singapore start-ups by way of mentorship as well as funding. The NRF will offer up-to 85% co-funding in each start-up company in the incubator, up to a maximum of S$500,000. The incubator will be required to invest the remaining amount of at least 15%. NRF and the incubator will take equity stakes in the company in proportion to their investments.
- Incubator Development Program: The Incubator Development Program that is administered by SPRING Singapore provides up-to 70% grant support to incubators and venture accelerators who actively introduce programs that help nurture start-ups including cost of hiring mentors, expenses incurred to market services/events, hire incubator managers, train staff, provide shared services/equipment for start-ups, etc. Innovative startups can benefit from the programmes offered by the various incubators and venture accelerators supported under the Incubator Development Program.
- Incubator for Disruptive Enterprises and Start-ups (IDEAS) Fund: Start-ups with disruptive innovation potential will be identified and offered guidance during their early-stages including funding investment to the tune of up-to S$500,000-S$600,000. The NRF supports the incubator with 85% co-funding.
- Fast-Track Environmental and Water Technologies Incubator Scheme (Fast-Tech): The Fast-Tech scheme that is administered by the Economic Development Board offers start-ups in the environmental and water technology sector funding assistance of up-to S$300,000 or up to 85% support level, whichever is lower, over two years. In addition, the start-ups will be housed in water-technology incubators who will offer mentorship and guidance. The designated incubator will take an equity stake in the company. The grant will be disbursed to the start-up on a reimbursement basis.
Debt Financing Schemes
- Micro-Loan Program: Under the Micro-Loan Program, participating banks and financial institutions will lend eligible Singapore companies loans of up-to S$100,000 for their daily operations or for automating and upgrading factory and equipment. Interest rate is estimated to be between 5-9%.
- Loan Insurance Scheme (LIS): The Loan Insurance Scheme insures loans against default risks. The government will co-share the insurance premium with the start-up enterprise. The LIS supports both domestic trade and overseas trade facilities. There is no maximum loan quantum for the LIS. The premium rate, interest rate, and loan tenure will be determined by the insurer based on the risk profile of borrower. The government provides premium support of 80% until 31 March 2021. The repayment structures and collateral requirements will be determined by the participating financial institutions.
- Enterprise Finance Scheme (EFS): Under the EFS, participating banks and financial institutions will lend eligible Singapore companies loans. There are SME working capital loans, SME fixed assets loan, Venture debt loans, Trade loan, Project loan, Merger & Acquisitions loan.
Tax Incentive Schemes
Listed below are the various tax incentives that are made available to start-ups and SMEs in Singapore.
- Tax Exemption for Start-ups: From YA2020 onward, a newly incorporated Singapore company that satisfies the qualifying conditions (i.e. incorporated in Singapore, tax resident of Singapore and has no more than 20 shareholders of which at least one is an individual shareholder holding at least 10% of shares) will be taxed as follows:
- For each of its first three consecutive tax years – corporate tax rate of 4.25% on the first S$100,000 of taxable income and 8.5% tax rate on the next S$100,000 of taxable income. The taxable income above S$200,000 will be charged at the normal headline corporate tax rate of 17%. Effectively, the amount of income exempted from tax will be S$125,000
- From the fourth tax year onward – corporate tax rate of 4.25% on the first S$10,000 and 8.5% tax rate on the next S$190,000. The taxable income above S$200,000 will be charged at the normal headline corporate tax rate of 17%.
- Development and Expansion Incentive (DEI): The DEI encourages Singapore-based companies to move into high value-addition business activities, expand their operations in the country, and procure advanced machinery and equipment by offering a reduced tax in the range of 5%-10% on incremental income derived from qualifying activities.
- Investment Allowance Scheme: Companies may claim capital allowance on plant and equipment used in connection with their trade or business, subject to meeting certain conditions. Expenditure incurred by Singapore-registered companies on new productive construction equipment will be eligible for investment allowance of 50%.
- Pioneer Certificate Incentive: Companies from the manufacturing or services sector that engage in activities that raise overall industry standards may be eligible for full corporate tax exemption on qualifying profits for up to 15 years.
- Industry-specific tax incentives: In addition to the above-mentioned tax incentives, there are various industry-specific tax incentives for Singapore-based SMEs, including start-ups. Contact us and we will tell you more.
Management Consulting & Business Plan Development
Backed by more than 30 years of experience, Enkindle Corporate Services is trustworthy, reliable and will put clients’ interests first. We specialize in enabling Small to Medium sized Companies (SMEs) to greater heights and it is our passion to be able to assist our clients to be successful and grow together with them. We will work with our clients to understand their strategic challenges and tailor solutions to enable them to be highly efficient and out-execute their competition.
Our Management Consulting Team’s mission statement: We enable our customers to create new value by delivering diligent and quality work at competitive prices. We achieve this with strong and proven methodologies and increased productivity.
Some of our capabilities include:
- Due diligence
- Market strategy
- Pricing strategy
- Brand Strategy
- Business unit strategy & Strategic planning
- Lean Six Sigma
- Kepner Tregeo Methodology for Problem Solving and Decision Making
What we do for Business Plan development:
We help companies with their business ideas by conducting due diligence for their ideas or proposal – what “pain” are they solving and how. We are able to assist them to develop the value proposition, identify the demographics of their potential customers, marketing and pricing strategies, industry and competition Analysis, risk assessment and contingencies planning, investor valuation, free cash flow projections and more.
We develop business plans that are professional and persuasive and can include SWOT and STEEP analysis; 4Ps market analysis, Michael Porter’s 5 forces analysis, cash flow analysis, Kepner Tregoe decision making analysis, and use modified McKinsey 7S framework, modified Boston Consulting group matrix, and relevant Financial Ratios.
Many of our clients commonly use business plans for:
- Government grant application
- Seeking Angel and Venture Capital investment
- Decision making prior to investment in plant and equipment
- Singapore Entrepreneur Pass application.
Why is a Business Plan important?
A good business plan is important when it comes to persuading investors. Angel and Venture capitalists read and accept/reject numerous business plans on a daily basis, so it is vital to understand what these investors are looking for and what appeals to them.
Generally, investors are interested in unique value propositions that can disrupt and serve large scalable markets with potentially good return of investment (usually > 10x upon exit). Your business plan should accurately demonstrate that you know the market well and why you think that you have a unique opportunity to capture the unrealised value in the market.
A good Business Plan should include:
- An Executive Summary
- The Value proposition
- Current and future products / services / technology
- Market & Industry Analysis – Trends, rivalry, scalability
- How Operations / Manufacturing are implemented
- Detailed marketing & pricing strategy, sales and distribution channel
- Details about management team – why they are able to execute the plan well
- Risk Assessment and Contingency plans
- Realistic financial information such as cost drivers and cash-flow projections
Valuation and Business Brokering Service
Valuation & Business Brokering – Buying or selling your business can be a complex endeavor, so it is often very valuable to have a professional guide you through the process. If you are searching to buy a business, we can assist you in finding a business or franchise that best fits your needs, personality, and experience. If you are looking to sell your business, we can also play an important role by helping you prepare your business for sale and valuate it correctly. Valuations are most commonly based on Income, Market and Cost.
BUSINESS LICENSE SERVICES
We can assist you with obtaining the necessary licenses and permits for your business.
- Employment agency license
- AVA license
- NEA license
- Travel agency license
- Tobacco license
- Liquor license
- Singapore Customs account activation for Trading Companies.
BUSINESS SUPPORT SERVICES
Enkindle Corporate Services can assist in accelerating your startup by supporting you from infrastructure to marketing. We can also provide you with a turn-key project proposal.
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ACCOUNTING SOFTWARE
IT ADVISORY
LOGO/WEBSITE
DESIGN & DEVELOPMENT
RETAIL/COMMERCIAL SPACE DESIGN
TRADEMARK REGISTRATION
MULTI-CURRENCY BUSINESS ACCOUNT
Accounting Software
Accounting Software enables you to easily do invoicing, accept payments, track expenses, manage payroll and manage bookkeeping functions. Certain version of the software is able to custom to the industry that you are in (i.e. Construction, manufacturing, trading, retail, professional services and etc.), thus saving time in your management of items such as cost to completion, estimated cost, cost of goods and time & expenses.
Enkindle Corporate Services can advise you on the suitable software and assist in the setup. Please contact us for our latest prices and promotions.
QuickBooks
- QuickBooks online (Singapore Version)
- QuickBooks Desktop Pro (Canada Version)
- QuickBooks Desktop Premier (Canada Version)
MYOB
- MYOB Business Basics
- MYOB Premier
IT Advisory
At Enkindle Corporate Services, we will use our experience to identify the right IT infrastructure for your business. (i.e. Telecommunication, Call centre, Servers, POS, NAS, Network, Software, Service providers, Security)
We will also be able to assist you in executing your IT plan.
Logo & Website Design and Development Services
Our Logo, Website Design and Development Services are offered thorough our affiliated full time designers, photographers and web developers. We can help you establish a powerful web presence which will improve your outreach to your target market.
For Logo Design:
Our Designers will be able to custom create beautiful artwork for your logo or brand using Photoshop CS 6 in high resolution. We will work with you through the creation process, using your inputs and aspirations to create an original artwork that you can call your own.
For Website Design and Development:
We recommend our clients to use Joomla to build their websites. Joomla is an award-winning content management system (CMS), which enables you to build Web sites and powerful online applications. A content management system is software that keeps track of every piece of content on your Website; much like your local public library keeps track of books and stores them. Content can be simple text, photos, music, video, documents, or just about anything you can think of. A major advantage of using a CMS is that it requires almost no technical skill or knowledge to manage.
A typical website can consist of 5-8 Menu Headers with 15-30 pages of content managed in a professional template, where all you need to do is to put in the content into each website page. You can easily learn how to manage the website yourself, or let us do it for you.
You can differentiate from your competitors with any of our two affordable website packages:
1. Standard website package at only S$980 (PIC claim applicable) includes:
- Choose website template design from over 30 selections
- Fully Content Management System with unlimited Pages capability
- Banner Slider, News, Promotion, Google Map and Products Modules
- 1 Online Form (Consultation/Enquiry/Contact)
- Free Search Engine Submission & tracking
- One Time Payment only (Full Source Code provided)
2. E-commerce website package at S$3500 (PIC claim applicable) includes:
- Choose website template design from over 30 selections
- Standard package capabilities
- Shopping Cart Function
- Unlimited products
- Product discount and voucher features
- Stock control
- Accepts credit card payment
- Member’s Login module
- One Time Payment only (Full Source Code provided)
Retail/Commercial Space Design
Our retail and commercial design Service is offered thorough our affiliated award winning professional partners. They specialize in creative concepts for restaurants, fashion retail and artistic spaces.
Check price or enquire now below!
Trademark Registration
Trademark Registration Services include:
- Conduct Trademark Search and application.
- Manage relevant regulatory authorities during the trademark application process. Usually, the trademark registration process will take a minimum of 4 to 6 months. (1 to 3 months to be processed by the Intellectual Property Office of Singapore (IPOS), and another 3 months for potential opposition proceedings).
What is a Trademark?
A trade mark is a sign that you can use to distinguish your business’ goods or services from those of other traders.
A trade mark can be represented graphically in the form of your company’s logo or a signature.
Through a registered trade mark, you can protect your brand (or “mark”) by restricting other people from using its name or logo.
Once acquired, a trade mark can last indefinitely as long as you renew it every 10 years. Because a registered trade mark is a form of IP, you can license or assign it to others.
Letters, words, names, signatures, labels, devices, tickets, shapes, colors or any combinations of these elements can be registered as a trade mark but a mark must be distinctive and capable of distinguishing your goods or services from similar ones of other traders.
The following are some common examples of marks that cannot be registered as a trade mark:
- Marks that are descriptive (e.g. super, best, cheap, one dozen)
- Marks that are common to your trade (ones that have become well accepted in relation to your trade and do not distinguish the goods or service you are offering)
- Marks that could offend or promote immoral behaviour
- Deceptive marks (ones that could misrepresent the nature, quality or geographical origin of the goods or services)
- Marks that are identical to earlier marks
- Marks that could cause confusion (similar or identical to an earlier mark and in relation to similar or identical goods or services provided by the owners of the earlier mark)
- Marks that are identical or similar to Well Known Marks
(Source:IPOS)
Multi-Currency Business Account
Through our affiliate’s package, we offer the following business solutions:
- Open multi-currency local accounts, without visiting a bank branch
- Collect and make international payments, with zero transaction fees*
- Empower your team with corporate cards, without the admin overhead
*Terms & Conditions Apply.
Sign up here: https://airwallex.grsm.io/enkindle Or register for a free consultation below to learn more!
COMPANY INCORPORATION & BUSINESS FORMATION
Singapore is known for integrity, quality, reliability, productivity, rule of law, and enforcement of intellectual property rights. The multi-cultural Singaporean workforce is highly educated, highly motivated and highly productive. We are also proficient in English
The government has always adopted a pro-business policy, regardless of world economic situations or crisis. It has taken tough measures including reducing corporate tax rates, lowering employers’ Central Provident Fund (CPF) contribution rates and capping office rental rates. For the quality of its government policies, Singapore has been rated “The world’s easiest place to do business” (Doing Business Report, World Bank) and Ranks Second since 2019.
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COMPANY INCORPORATION
FOREIGN OWNED SINGAPORE COMPANY
LIMITED LIABILITIES PARTNERSHIP (LLP)
NOMINEE LOCAL DIRECTOR / SHAREHOLDER
REGISTERED ADDRESS
SOLE-PROPRIETOR & PARTNERSHIP
MULTI-CURRENCY BUSINESS ACCOUNT
Company Incorporation – $780
Incorporation of Private Limited Company (PTE. LTD.) Package includes:
- Professional fees for incorporating company
- ACRA Incorporation fees ($315)
- ACRA Business profile in PDF format
- Company Constitution in PDF format
- Free first year basic secretarial services
- Free first year Registered Address
Information Required for Incorporation of Private Limited Company:
- Proposed Company Name
- Business Activities Description
- Location of Registered Office
- Copy of NRIC information of all Local Directors/Shareholder/Company Secretary
- Copy of Passport and Proof of foreign address of all Foreign Directors/Shareholder
- Shareholding percentage breakdown
- Amount of ACRA Paid-up capital (Minimum S$1)
Advantages of a Private Limited Company:
- It is a separate legal entity, with unlimited lifespan
- Liabilities are limited to the assets of the Company
- Qualify for Tax incentives, Government grants & assistance
- Companies that qualify for Exempt Private Company (EPC) status does not need to be audited.
- An Exempt Private Company (EPC) is a private company which has at most 20 shareholders. No corporation holds (directly or indirectly) any beneficial interest in the EPC’s shares. It can also be a company the Minister has gazetted as an EPC (see section 4(1) of the Companies Act.
Important Statutory Requirements of a Private Limited Company:
- Number of Shareholders is limited to 50
- Must have at least one local resident Director
- Annual General Meeting
- A company is required to hold its first AGM within 18 months after its incorporation
- Subsequent AGMs must be held every calendar year and the interval between AGMs should not be more than 15 months
- Annual Return – The Annual Return must be filed to ACRA within one month after AGM
- Insolvent EPCs and Private Company will need to file Annual Return in XBRL format.
- Exempt Private Company and Dormant Company need not audit accounts.
Foreign Owned Singapore Company
For Foreign Companies that wish to expand their operations in Singapore, there are basically three common options:
- Subsidiary Company *Most Popular* – Incorporate a Private Limited Company in Singapore under any entity name that can conduct all available business activities and enjoy the most tax benefits and government grants.
- Branch Office – Register an office under the same name and business activities as the parent company and must by 100% owned by the head office. Taxed as non local entity and does not enjoy local tax benefits and most goverment grants.
- Representative office – Register an office under the same name as the parent company and can only conduct research and liaison activities.
Foreign owned – Singapore Company Incorporation Package includes:
(You do not need to be in Singapore)
- Professional fees for incorporation of Foreign owned Singapore Company.
- ACRA fees
- Business profile
- E-certificates of registration
- Resolution to open bank account
- Free first year basic secretarial services (Usual price $380)
- Free first year Registered Address (Usual price $120)
Please enquire for a list of the information required for Foreign owned – Singapore Company incorporation (Shareholders are foreigners or foreign company). You can either make an appointment with us or complete the setup via email.
Incorporate Singapore Private Limited $780
Appointment of Local Secretary $220
Nominee Local Director at $2400 per year $2400
Total = $3400
Important Statutory Requirements:
For Foreign owned Singapore Company – You will need a local resident director. Let us know if you need to appoint a nominee local director.
For Branch Office – The Companies Act requires a foreign company to appoint at least two local agents from Singapore to act on behalf of the company. The agents must be “ordinarily resident” (the usual place of stay of a person) in Singapore. Enkindle Corporate Services can provide you with nominee local agents or directors for a fee until you are able to arrange your own staff to be relocated in Singapore.
For ACRA’s purposes, if a person can provide a local residential address and prove that he is staying in Singapore on a long-term arrangement (i.e. legally remain in Singapore for a long period), ACRA may accept that he is ordinarily resident here. (Source: ACRA)
Limited Liabilities Partnership (LLP)
Limited Liability Partnership (LLP) Registration Package
- Includes Professional fees to form business firm
- Includes ACRA fees
- Includes 3 sets of Business profile
- Free One year Website domain Name (.com.sg or .sg by SGNIC)
Information Required For Registration of LLP:
- 2 Proposed Business Names.
- Business Activities Description.
- Location of Registered Office
- Copy of NRIC information of all local Managers
- Copy of Passport and Proof of foreign address of all Foreign Owners
What is a Limited Liability Partnership (LLP)?
A Limited Liability Partnership (LLP) is a vehicle for doing business in Singapore. An LLP gives owners the flexibility of operating as a partnership while having a separate legal identity like a private limited company.
This means that the LLP is seen as a body corporate and has a legal personality separate from its partners. The LLP has perpetual succession, which means any change in the partners of an LLP will not affect its existence, rights or liabilities.
An LLP is capable of:
- Suing and being sued in its name;
- Acquiring and holding property in its name;
- Having a common seal in its name and
- Doing such other acts and things in its name, as bodies corporate may lawfully do and suffer.
The partners of the LLP will not be held personally liable for any business debts incurred by the LLP. A partner may, however, be held personally liable for claims from losses resulting from his own wrongful act or omission, but will not be held personally liable for such wrongful acts or omissions of any other partner of the LLP.
An LLP is required to keep accounting records, profit and loss accounts and balance sheets that will sufficiently explain the transactions and financial position of the LLP. In the event the LLP does not do this, the LLP and every partner shall be prosecuted and the penalty may be a fine or imprisonment, or both. In addition, the LLP shall submit to the Registrar an annual declaration of solvency or insolvency (i.e. being able or unable to pay its debts respectively) which will be made available to the public.
(Source: ACRA)
Nominee Local Director
Nominee Local Director Service
- To incorporate a Singapore company, you must have at least one local director. We can appoint a member of our team as the nominee local director and you can appoint one or more individuals as the foreign director(s).
- This service is offered to satisfy statutory compliance and the nominee director will not be involved in management and operation of the company. You can ask our nominee director to resign at any time by identifying another person who can satisfy the statutory compliance.
- We will also collect a refundable security deposit of $2000 which will be refunded upon termination of our nominee director service.
Nominee Shareholder
Nominee Shareholder Service
- The nominee shareholder will sign a Declaration of Trust in which the nominee shareholder will hold the shares on behalf of the beneficial owner, and is not the legal owner of the shares.
- The shares will be returned to the beneficial owner upon request.
- All income and capital gains on the shares held will belong to the beneficial owner.
- Identity of the beneficial owner(s) will be private and confidential, with no public records at the Company’s Registry.
Registered Address
Registered Address Package
- Registered address service can be activated within the day and you can immediately start to use the address as an officially ACRA-registered address for the purpose of mailing address, emails, name cards, company letterheads and etc.
- Free change of registered address to our appointed address if necessary.
- Self collection of mail and parcels during office hours (no handling fee). Handling fees and storage fees applies for bulky items above 2 kg.
- Mail forwarding / courier services are available on any frequency you determine.
- Additional service fee of $5 for each delivery, and local postage/courier charges ($2-10) will be borne by the client
- General Fax and Letter scanning services are available and can be requested separately. Faxes and letters are scanned in PDF format and sent to your designated email address.
Sole Proprietor & Partnership
Sole Proprietor & Partnership Registration Package
- Includes Professional fees to form business firm
- Includes ACRA fees
- Includes Business profile
- Free One year Domain Name (.com.sg or .sg by SGNIC)
Information Required For Registration of Sole Proprietor/Partnership:
- 2 Proposed Business Names.
- Business Activities Description.
- Location of Registered Office
- Sole Proprietor – Copy of Owner’s NRIC
- Partnership
- Copy of NRIC information of all local Managers
- Copy of Passport and Proof of foreign address of all Foreign Owners
What is a Sole Proprietor?
A sole-proprietorship is a business owned by one person or one company. There are no partners. The sole-proprietor has absolute say in the running of the business.
Under the Business Registration Act, Cap. 32, “business” includes every form of trade, commerce, craftsmanship, calling, profession and any activity carried on for the purposes of gain but does not include any office, employment or occupation, or any of the businesses specified below:
Exempted Entities/Individuals
List of exempted entities/individuals:
- Individuals carrying on any of the businesses specified in the First Schedule.
- Statutory authority or other body established under any written law.
- Institution, society or person specified in the First Schedule to the Income Tax Act.
- Registered Society.
- Registered co-operative society.
- Registered mutual benefit organisation.
- Person carrying on any business consisting solely of the exercise of any profession which under the law can be exercised only by those who posses certain prescribed qualifications and whose names are registered in the manner prescribed by the law (e.g. doctors, lawyers).
- Charitable institutions which is exempt from tax under the Income Tax Act.
- The Public Trustee or the Official Assignee of the property of a bankrupt.
- A foreign company carrying on business in Singapore which is registered under the Companies Act and carries on the business under its corporate name.
- Any other person or class of persons for the time being exempted by the Minister, by notification of the Gazette, from all provisions of this Act.
- Any company registered under the Companies Act or any previous legislation carrying on business under a business name that consists of its corporate name.
Multi-Currency Business Account
Through our affiliate’s package, we offer the following business solutions:
- Open multi-currency local accounts, without visiting a bank branch
- Collect and make international payments, with zero transaction fees*
- Empower your team with corporate cards, without the admin overhead
*Terms & Conditions Apply.
Sign up here: https://airwallex.grsm.io/enkindle Or register for a free consultation below to learn more!
COMPANY SECRETARIAL SERVICES
Company Secretarial Services Package – $380 per annum
- Consultation on secretarial/statutory/compliance matters
- Preparation of standard minutes for Board of Directors’ meeting and Annual General Meeting, submit Annual Return to ACRA when due.
- Preparation of standard resolution for Company Changes in Directorships, Shareholders, Registered Address, Bank Signatories and Lodgement of Changes in accordance to Resolutions Passed.
- Monitoring of Accounting and Corporate Regulatory Authority (ACRA) and IRAS filing Datelines, ensuring your Company is Compliant with the ACRA Rules & Regulations
- Documenting and E-stamping of Share Transfers
- Maintaining Company Registers
- Maintain and file Register of Registrable Controllers and Register of Nominee Shareholders
- Appoint our staff as your Secretary (add $220)
*Government imposed fees not included. i.e. ACRA Annual Return fee = $60
**Additional surcharges will be applied for Companies with more than 5 Directors/ shareholders
We offer a complete range of Secretarial Services.
IMMIGRATION SERVICES – EMPLOYMENT PASS APPLICATION
Employment & Entrepreneur Pass application service includes:
(Provided by affiliated partners)
- Pre-application information and consultation advice on suitability.
- Manage the whole Application with the Ministry of Manpower.
- One free appeal.
Employment Pass
The employment pass is a work pass for foreign professional working in managerial, executive or specialize jobs.
Eligibility Criteria:
- Bachelor’s Degree and above
- Minimum salary of $10,000 for Applicants of non-traditional source Countries (As of Mar 2023)
Entrepreneur Pass
You may apply for an EntrePass if you are ready to start and operate a new business in Singapore. All applicants must fulfill these requirements:
- Must be a Private Limited Company registered with Accounting and Corporate Regulatory Authority. Applicants need not register the company first. If registered, it must not be more than six months from date of application.
- The business must not be illegal.
- Applicants must hold at least 30% of shares in the company.
- Business plan (4-10 pages)
Letter of Consent for Dependent Pass holders
To be eligible to apply for an LOC, you need to be one of the following types of business owner:
- The sole proprietor of an ACRA registered business.
- A partner of an ACRA registered business.
- A company director with at least 30% shareholding in an ACRA-registered business.
- Recommended Salary to be ≥ $1600 monthly.
Tech Pass
To be eligible for Tech pass, applicants must satisfy any two of the following conditions:
- Have a last drawn fixed monthly salary (in the last 1 year) of at least S$20,000.
- Have at least five cumulative years of experience in a leading role in a tech company with a valuation/market cap of at least US$500mil or at least US$30mil funding raised.
- Have at least five cumulative years of experience in a leading role in the development of a tech product that has at least 100,000 monthly active users or at least US$100mil annual revenue.