6 Things you have to do once your company is registered in Singapore

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6 Things you have to do once your company is
registered in Singapore
Bestar Services Pte. Ltd
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6 Things you have to do once your company is
registered in Singapore

• Isnt it amazing that you have registered your
  own company in Singapore successfully? You
  already have taken one step towards a bright
  future. But there are so many other things to do
  after the companys incorporation in Singapore.
• Before one year after the company registration,
  you have to complete the following procedures.
  This ensures that the company functions smoothly
  while you dont violate any norms or regulations
  of the Singapore government. Let us take a look
  at things that you should do once the company
  registration is successful.

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1. Define the financial year end for your company
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2. Hire an audit professional
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3. Recruit a company secretary

• A CS or Corporate Secretary is someone who
  fulfills administrative responsibilities. This
  includes the development of draft and
  acknowledging the authority changes, name of the
  company or the structure.
• They are the ones who file all the documents to
  the Singapore government according to the
  compliances. A CS will also inform the
  shareholders and directors about the annual
  filing and Annual General Meeting (AGM) details.
  The CS will submit all the details within 6
  months of company registration in Singapore.

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4. Send out the share certificates to the
shareholders

• A share certificate legally binds the document
  that acknowledges the shareholders share in the
  companys shares. It is generally issued with the
  company seal.
• The company owner has to keep track of the number
  of shares thus issued. Also, you should know how
  many shares does the company have. These shares
  are helpful in the future for financing purposes.
• If you issue the share without the common seal,
  then they should be signed by
• Two company directors, OR
• 1 director and a company secretary, OR
• 1 director with a witness present at the time of
  signing the shares.

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5. Establish the statutory books for your company

• Statutory books are used to maintain the
  companys legal details and records.
• This book is stored in the registered company
  building in Singapore.
• Since it is a public document, the authorities
  are free to go through them anytime they want to.
  
• But, they have to be updated regularly so that
  the right and the latest information is available
  for reference.

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5. Establish the statutory books for your company

• Following things should be included in these
  books

• Latest information about company officers. This
  includes directors, auditors, and secretaries. It
  should also include their appointment dates and
  resignation dates.
• Details of the shareholders that include the
  number of shares in their possession and details
  of the share transfers if any.
• Information that shows fixed or floating charges
  and debentures used to acquire loans by the
  company.
• Time details and resolutions from Annual General
  Meeting (AGM).

• The CS is responsible for maintaining the
  Statutory books.

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6. Define an accounting system within the company

• A company may incur various expenses and costs
  from day one. Therefore, it is important to
  acknowledge and record all the expenses. These
  records offer a detailed view of the companys
  financial position. This includes the profits and
  losses made by the end of the financial year.
• You may run into tax evasion policies if you fail
  to maintain and update the records. Therefore, it
  is a strong suggestion to maintain the accounting
  records in good health.

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Conclusion

• Your work does not end when you are done with the
  company registration. There are so many
  procedures and compliances to follow. Failure to
  fulfill the above given necessities may result in
  troubles from authorities.
• We are the providers of the best Singapore
  Company registration services. Incorporate a
  company in Singapore today. Allow us a chance to
  help you setup a company in Singapore. We await
  your presence!

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