Post Registration Compliance in Singapore

We understand that successfully incorporating a company in Singapore is only the beginning. Staying compliant with post registration compliance work requirements is crucial to avoid penalties and maintain your company’s good standing. Our comprehensive post company registration compliance services in Singapore, ensures that your business meets all ongoing obligations with ease and efficiency.

Important Post Registration Compliances for Companies in Singapore within 1 Year of Incorporation

If you are searching what are the key post registration compliance issues in Singapore? Then here are some most essential compliance tasks after business registration in Singapore fulfil within 1 year of incorporation:

1. Appointment of a Qualified Company Secretary

According to the Singapore Companies Act, all companies must appoint a qualified company secretary within six months of company incorporation in Singapore. This individual must be a Singapore resident with relevant expertise in corporate governance and regulatory compliance. ASC Group provides access to experienced company secretaries who will manage your statutory obligations and ensure seamless compliance.

2. Maintaining Statutory Records and Registers

Singapore companies are required to maintain accurate statutory registers and records of members, directors, and secretaries. These records must be kept at the registered office and are subject to periodic review by authorities. ASC Group offers services to keep these records updated, organized, and compliant with ACRA regulations.

3. Filing Annual Returns with ACRA

Every company must file annual returns with ACRA within a specific timeframe after the Annual General Meeting (AGM). This filing includes up-to-date information on the company’s financials, shareholders, and officers. ASC Group manages the entire annual return filing process, ensuring that your company meets its reporting deadlines and stays compliant.

4. Holding an Annual General Meeting (AGM)

Singaporean companies must hold an AGM within six months after the end of the financial year. During the AGM, the company presents its financial statements to shareholders for approval. ASC Group can help with planning and conducting your AGM, preparing the financial statements and meeting agendas, and ensuring compliance with AGM requirements.

5. Preparation and Filing of Financial Statements

For companies that meet specific criteria, preparing and filing financial statements in XBRL format with ACRA is mandatory. ASC Group provides accounting and financial statement preparation services, ensuring your financial data is accurately formatted and submitted in compliance with ACRA’s standards.

6. Corporate Tax Filing with IRAS

All companies registered in Singapore must submit annual corporate tax returns to the Inland Revenue Authority of Singapore (IRAS). These filings include the Estimated Chargeable Income (ECI) within three months from the end of the financial year and a Form C or Form C-S filing by November 30 (for paper submission) or December 15 (for e-filing). ASC Group offers complete corporate tax compliance services in Singapore, annual tax return submission.

7. Goods and Services Tax (GST) Registration and Filing

If your company’s annual revenue exceeds S$1 million, you must register for Goods and Services Tax (GST). GST-registered companies must then submit quarterly GST returns and manage GST compliance. ASC Group assists with GST registration, filing, and ongoing tax compliance services to ensure accurate reporting.

8. Maintaining a Registered Office Address

Singapore requires companies to maintain a registered office address that is open and accessible during regular business hours. ASC Group provides registered office address services and can offer virtual office solutions to help you meet this requirement without needing a physical presence in Singapore.

9. Employment Passes and Work Visa Applications

If you plan to hire foreign talent, ASC Group can assist with Employment Pass (EP) and Work Visa applications. We guide you through the Ministry of Manpower’s (MOM) requirements and manage the application process to ensure you secure the necessary permits for your employees.

10. Payroll Compliance and CPF Contributions

For companies hiring local employees, compliance with payroll regulations and Central Provident Fund (CPF) contributions is mandatory. ASC Group offers payroll services that ensure accurate salary disbursements and CPF contributions, helping you meet all employment-related compliance standards.

11. License Renewals and Compliance Reporting

Certain businesses may require specific licenses (e.g., F&B, retail, financial services) that need periodic renewals. ASC Group tracks these license requirements, handles renewals, and ensures you stay compliant with all industry-specific regulations.

12. Data Protection and Privacy Compliance

Singapore’s Personal Data Protection Act (PDPA) mandates that companies protect personal data collected from customers. ASC Group provides guidance on data protection compliance, helping you develop policies and procedures that align with PDPA regulations.

13. Ongoing Compliance Advisory

Regulatory requirements in Singapore can evolve, and staying informed of these changes is crucial. ASC Group provides ongoing compliance advisory services, offering timely updates and solutions to keep your business compliant and informed.

Why Choose ASC Group for Post Incorporation Compliance Service in Singapore?

At ASC Group, our dedicated team ensures that your company not only meets compliance requirements in Singapore but also remains positioned for growth and stability. From statutory filings to corporate governance, we handle every compliance need, allowing you to focus on your business.

Whether you are a small business, a start-up, or an established foreign company, ASC Group is your reliable partner for corporate compliance in Singapore. Contact us today to discuss how we can support your post incorporation compliances in Singapore.