First company insurance records should identify the insured company, policy period and person responsible for notices and renewal review. Keep the issued policy and insurer correspondence, not only a quotation or payment receipt. The administrative pack should make it possible to ask the right questions when cover or business activity changes. Illustrative photograph by Pavel [...]
First company premises records should identify the intended tenant and the approved agreement before the business starts using the space. Keep the company's particulars, landlord correspondence and handover evidence together. Incorporation alone does not establish that a particular location is suitable or approved for every proposed activity. Illustrative photograph by Pavel Danilyuk. Confirm the entity [...]
Company compliance owners should be assigned even when a newly incorporated business has no employees. The absence of payroll does not remove the need to manage company records, official correspondence and financial information. Agree who does each task and who checks completion before activity becomes busy. Illustrative photograph by Pavel Danilyuk. Separate ownership from assistance [...]
A first supplier account for a new company should identify the company as the intended customer, rather than automatically continue the founder's personal customer number. Check the application particulars, purchase authority and invoice details before the first order. A familiar relationship with the supplier does not, by itself, establish which entity is buying. Illustrative photograph [...]
A first customer transaction pack gives a new company's bookkeeper a clear starting point when trading begins before the bookkeeping routine is ready. Capture what the company agreed to supply, what it invoiced, what it delivered and what it received. Avoid relying on the founder's memory once several orders and bank receipts accumulate. Illustrative photograph [...]
Founder-paid startup costs should be recorded in a clear schedule while the company bank account is being opened. Keep the supplier documents, identify who paid each item and record the intended treatment. Moving cash to the founder later does not prove every payment was a company expense, a loan repayment or a deductible cost. The [...]
Buying a company that someone else has already incorporated, sometimes called a "shelf company" or "aged company", can look like a shortcut past the paperwork of setting up in Singapore. In practice, the picture is more nuanced. Singapore law does not prohibit shelf companies, but the practical risks of taking over an existing entity, and [...]
Singapore bank account opening: DBS, OCBC, UOB, Wise, Aspire: Frequently asked questions. For foreign founders setting up shop in Singapore. Practical...
Singapore registered address and BizFile+ filings explained: costs, deadlines and common mistakes for foreign founders setting up a company.
Nominee director services explained: fees, duties, risks and the appointment process for foreign founders needing a Singapore-resident director.