Core Business Services for a Foreign Start Up Company
Many firms are starting to operate their businesses from overseas as a growing number of entrepreneurs attempt to expand into new markets, and while they may just have a shared office, sometimes with just a single employee to serve as the ‘face’ of your brand, they will nevertheless require a wide range of office services. There are usually local firms that specialize in freelance office services, and they ensure that international businesses keep things like their business structure in order, that their tax reports are done on time, and that they are following all necessary regulations.
If you need assistance with setting up a business in Singapore then, all it really takes is a Google search to find a local expert, and everything can be done remotely, which is more than useful considering that you won’t need to travel. In the current climate, using a remote specialist for your Company formation in Singapore is worth its weight in gold, no need to pay for flights or to ‘quarantine’ at either end. You should find that byoutsourcing your business formation activities you are already saving money before you’ve set off.
Most people also come to learn that it is a cost-effective way of keeping things like your books in order, ensuring that your tax submissions are done properly and on time.Additionally, if you currently reside in Europe, you’ll find the employment costs are generally lower in South East Asia (SEA).
Bespoke level of service
You might prefer to be, ‘pay as you go’, pay a retainer and have a monthly invoice sent out, or perhaps even quarterly would be preferable, either way, your local accounting partner will be ready and waiting to carry out your bookkeeping and accounts. Using a secure cloud network, all files can be accessed by the accounting firm and the finished work sent to you electronically.
If you have some form of office in Singapore, you might not have enough administrative work to warrant hiring a full-time employee, therefore hiring a local secretary on an ‘as needed basis’ is the ideal option. Simply submit an email with your instructions, and the job will be performed and returned to you on time, with all deadlines fulfilled. Typical office services such as typing, printing, and photocopying are also available at reasonable rates.
Notifications when you need them
Because things like business formation and accounting entail legally required processes, you will need to know as soon as possible, this means that your local accountant may give you reminders to make sure that you’re always compliant and don’t miss anything essential. Just submit instructions and you should never need to worry about missing any accounting deadlines again.
What to expect?
The company you choose should be able to offer you the following services;
- Income statements
- Book balance sheets showing all incomings and outgoings
- Monthly reports
As well as monthly, quarterly, semi-annual or yearly reports, there is also a requirement for year-end financial reports, of which your accountants should deal with. With the aid of a local accountant, you can ensure that your international firm is completely compliant with the local business rules.