FREQUENTLY ASKED QUESTIONS

Generic Services FAQs

In addition to facilitating company registration, we also offer comprehensive company secretarial services, as well as accounting, tax assistance, virtual office address, human resource, and consultancy for our clients. Our services encompass aiding in the establishment of your business, payroll management, tax filing, and upkeep of your company’s registers, among other tasks.

Know Your Customer (KYC) documents are required for identity verification purposes. They help ensure compliance with regulations and prevent fraudulent activities.

A shareholder exercises ownership over a company through the shares he possesses, whereas a director oversees the daily operations of the business and holds authority over company matters, adhering to the guidelines outlined in the Singapore Companies Act and the company’s Constitution.

It is possible for a shareholder to also serve as a director, however, it is not obligatory for a director to hold shares in the company.

You must inform us immediately of any business changes by providing updated contact details for mail handling and ensuring compliance with KYC requirements.

In addition to facilitating company registration, we also offer comprehensive company secretarial services, as well as accounting, tax assistance, virtual office address, human resource, and consultancy for our clients. Our services encompass aiding in the establishment of your business, payroll management, tax filing, and upkeep of your company’s registers, among other tasks.

Know Your Customer (KYC) documents are required for identity verification purposes. They help ensure compliance with regulations and prevent fraudulent activities.

A shareholder exercises ownership over a company through the shares he possesses, whereas a director oversees the daily operations of the business and holds authority over company matters, adhering to the guidelines outlined in the Singapore Companies Act and the company’s Constitution.

It is possible for a shareholder to also serve as a director, however, it is not obligatory for a director to hold shares in the company.

You must inform us immediately of any business changes by providing updated contact details for mail handling and ensuring compliance with KYC requirements.

Any person, irrespective of his or her nationality can open a company in Singapore as long as they are above the age of 18 and have not been declared bankrupt.

Based on the type of business you intend to operate, you may need to obtain a business license from the appropriate regulatory body. For instance, both a restaurant and a financial services company must obtain a license from their respective regulatory authorities.

Thankfully, Singapore has streamlined its bureaucratic processes, and many businesses do not need a license to operate. In the event that a license is necessary, you can expect a prompt, efficient, and uncomplicated approval process for your application.

To establish a company in Singapore, you will need to meet the following prerequisites:

  • Company Name: should choose a unique name that complies with the regulations established by the Accounting and Corporate Regulatory Authority (ACRA).
  • Shareholders: must include at least one individual or corporate entity, without regard to nationality.
  • Directors: required to designate at least one individual to serve as a resident director for the company. This individual must be a resident of Singapore, aged 18 or older, and must not have any legal disqualifications. The designated resident director may be either a Singapore citizen or Singapore permanent resident, Additionally, foreign individuals are permitted to serve as additional directors alongside the aforementioned local director.  
  • Company Secretary: It is required to appoint a company secretary within six months of incorporating the company, who must be a resident of Singapore.
  • Capital Contribution: Please ascertain the paid-up capital (with a minimum of SGD 1) at the time of establishment.            
  • Registered Address: provide a physical address located in Singapore for the purpose of registering your company.
  • Adherence: It is imperative to comply with all applicable laws in Singapore, including tax regulations and accounting principles.

You may reach us via email at team@ursidaemgt.com for any questions or issues you have.

Any person, irrespective of his or her nationality can open a company in Singapore as long as they are above the age of 18 and have not been declared bankrupt.

Based on the type of business you intend to operate, you may need to obtain a business license from the appropriate regulatory body. For instance, both a restaurant and a financial services company must obtain a license from their respective regulatory authorities.

Thankfully, Singapore has streamlined its bureaucratic processes, and many businesses do not need a license to operate. In the event that a license is necessary, you can expect a prompt, efficient, and uncomplicated approval process for your application.

To establish a company in Singapore, you will need to meet the following prerequisites:

  • Company Name: should choose a unique name that complies with the regulations established by the Accounting and Corporate Regulatory Authority (ACRA).
  • Shareholders: must include at least one individual or corporate entity, without regard to nationality.
  • Directors: required to designate at least one individual to serve as a resident director for the company. This individual must be a resident of Singapore, aged 18 or older, and must not have any legal disqualifications. The designated resident director may be either a Singapore citizen or Singapore permanent resident, Additionally, foreign individuals are permitted to serve as additional directors alongside the aforementioned local director.  
  • Company Secretary: It is required to appoint a company secretary within six months of incorporating the company, who must be a resident of Singapore.
  • Capital Contribution: Please ascertain the paid-up capital (with a minimum of SGD 1) at the time of establishment.            
  • Registered Address: provide a physical address located in Singapore for the purpose of registering your company.
  • Adherence: It is imperative to comply with all applicable laws in Singapore, including tax regulations and accounting principles.

You may reach us via email at team@ursidaemgt.com for any questions or issues you have.

Virtual Office FAQs

A virtual office is a non-physical office that allows business owners and employees to work from any location by using technology such as laptop computers, cell phones and internet access. It is a different format of a traditional work environment. All business operations take place without a physical office area and are online. A virtual office can provide significant savings and flexibility compared to renting a traditional office space for digital businesses, businesses with offshore teams and those who only require the business address on paper.

You must have a Registered company with ACRA in Singapore. We currently serve only local companies in Singapore.

Unfortunately, as we need to carry out KYC checks, you will not be able to use our address until you have obtained our KYC clearance.

Yes, you can, subject to our KYC checks. Upon KYC clearance and once payment is made, you can start using our address for business purposes only.

We reserve the right to return or dispose of all uncollected mail after the specified timeframe.

We would only open your mail if we are unable to identify the addressee.

You will need to provide your latest company’s business profile and all requested KYC (Know Your Customer) documents.

A virtual office is a non-physical office that allows business owners and employees to work from any location by using technology such as laptop computers, cell phones and internet access. It is a different format of a traditional work environment. All business operations take place without a physical office area and are online. A virtual office can provide significant savings and flexibility compared to renting a traditional office space for digital businesses, businesses with offshore teams and those who only require the business address on paper.

You must have a Registered company with ACRA in Singapore. We currently serve only local companies in Singapore.

Unfortunately, as we need to carry out KYC checks, you will not be able to use our address until you have obtained our KYC clearance.

Yes, you can, subject to our KYC checks. Upon KYC clearance and once payment is made, you can start using our address for business purposes only.

We reserve the right to return or dispose of all uncollected mail after the specified timeframe.

We would only open your mail if we are unable to identify the addressee.

You will need to provide your latest company’s business profile and all requested KYC (Know Your Customer) documents.

You will be notified via the email address provided in the application form.  Mail collection is only on weekdays (1pm-5pm) except public holidays. Please inform us at least 1 day in advance.

We take measures such as secure handling and confidentiality protocols to safeguard your mail.

Prior approval is required for sending bulky items or parcels, and they must be collected promptly.

Yes, you can. You must inform us in advance the name of the person collecting the mails.

One service fee applies to only one company. Should you have multiple companies, please kindly submit an application form for each company. We will carry out KYC checks on every company accordingly.

Yes, you will receive an email notification from us, at least one month before the service expires. We encourage our clients to renew early.

In the email notification from us, we will provide our payment details for payment of the renewed period of service. We will also request for the latest company’s business profile as part of our KYC review. If there have been no changes since the last KYC done, the service will be automatically renewed upon receipt of payment. If we do not receive payment by the close of business of the service expiry date and/or the necessary KYC documents requested, we will assume that you do not intend to renew and will proceed to let the service lapse. Upon receipt of payment, we will issue you our invoice & receipt thereafter.

You will need to change the registered office address in ACRA within 7 days and provide us with the updated business profile as proof of removal. Mail notifications will lapse immediately after expiry date.  Thereafter, we reserve the right to discard all mails received. Any uncollected mails will also be disposed of after 7 days.

You will be notified via the email address provided in the application form.  Mail collection is only on weekdays (1pm-5pm) except public holidays. Please inform us at least 1 day in advance.

We take measures such as secure handling and confidentiality protocols to safeguard your mail.

Prior approval is required for sending bulky items or parcels, and they must be collected promptly.

Yes, you can. You must inform us in advance the name of the person collecting the mails.

One service fee applies to only one company. Should you have multiple companies, please kindly submit an application form for each company. We will carry out KYC checks on every company accordingly.

Yes, you will receive an email notification from us, at least one month before the service expires. We encourage our clients to renew early.

In the email notification from us, we will provide our payment details for payment of the renewed period of service. We will also request for the latest company’s business profile as part of our KYC review. If there have been no changes since the last KYC done, the service will be automatically renewed upon receipt of payment. If we do not receive payment by the close of business of the service expiry date and/or the necessary KYC documents requested, we will assume that you do not intend to renew and will proceed to let the service lapse. Upon receipt of payment, we will issue you our invoice & receipt thereafter.

You will need to change the registered office address in ACRA within 7 days and provide us with the updated business profile as proof of removal. Mail notifications will lapse immediately after expiry date.  Thereafter, we reserve the right to discard all mails received. Any uncollected mails will also be disposed of after 7 days.

Corporate Secretarial FAQs

A company secretary is responsible for the administration of the company. He is also required to ensure that all the directors and shareholders are informed of their statutory obligations such as the filing of annual returns.

Unfortunately, the general answer is no.

A company secretary must be:

  • A natural person.
  • Locally residing in Singapore.

The sole director of a company and the company secretary cannot be the same person.

Yes. Companies must appoint a company secretary within 6 months from the date of incorporation. This position cannot be left vacant for more than 6 months or the directors may face a penalty of up to $1,000.

The responsibilities of a secretary can be varied depending of a company’s needs. Below are some examples:

  • Maintain and update the company’s registers and minutes books.
  • Administer, attend and prepare minutes of meetings of directors and shareholders.
  • Keep company directors aware of the deadlines for annual returns and any other filings required by ACRA.
  • Update directors and shareholders on relevant changes in corporate regulations.

A company secretary is responsible for the administration of the company. He is also required to ensure that all the directors and shareholders are informed of their statutory obligations such as the filing of annual returns.

Unfortunately, the general answer is no.

A company secretary must be:

  • A natural person.
  • Locally residing in Singapore.

The sole director of a company and the company secretary cannot be the same person.

Yes. Companies must appoint a company secretary within 6 months from the date of incorporation. This position cannot be left vacant for more than 6 months or the directors may face a penalty of up to $1,000.

The responsibilities of a secretary can be varied depending of a company’s needs. Below are some examples:

  • Maintain and update the company’s registers and minutes books.
  • Administer, attend and prepare minutes of meetings of directors and shareholders.
  • Keep company directors aware of the deadlines for annual returns and any other filings required by ACRA.
  • Update directors and shareholders on relevant changes in corporate regulations.

If a private limited company fails to stay compliant with company law, the Singapore government may require the company to appoint a new company secretary who meets the requirements of a company secretary for a public company.

Per the Companies Act, a Singapore company secretary must meet the following requirements:

  • A Singapore company secretary is expected to be knowledgeable and experienced with company regulations and compliance and is expected to have a deep understanding of Singapore company law. In addition, the company secretary is expected to be familiar with all required company annual filings.
  • The corporate secretary’s primary residence must be in Singapore.
  • A Singapore corporate secretary must be an ordinary resident of Singapore.

A public company secretary in Singapore must meet at least one of the following additional requirements:

  • Served as a company secretary for at least 3 of the 5 years immediately before his appointment as secretary of the public company.
  • Being a qualified person under the Legal Profession Act.
  • Being a public accountant registered under the Accountants Act.
  • Being a member of the Institute of Certified Public Accountants of Singapore.
  • Being Member of the Singapore Association of the Institute of Chartered Secretaries and Administrators.
  • Being a member of the Association of International Accountants.
  • Being a member of the Institute of Company Accountants, Singapore.

A corporate service provide (CSP) is a business entity that provides compliance services such as bookkeeping, unaudited financial statements and tax services. CSP also assists with the formation of new business entities, generating payroll calculation and payslips for the client’s employees, and even handling the administrative functions of the client’s business.

The value of a CSP lies in the professional assistance they provide to the companies that hire them as not every entrepreneur is familiar with the ins and outs of running a corporate enterprise. This is where a CSP can step in and help their clients, by providing preventive measures to avoid being penalised for non-compliance acts.

The primary benefit of outsourcing various company tasks to a CSP lies in obtaining professional and personalised approaches to managing administrative tasks and overall functioning of the company. Instead of having to manage the various administrative tasks internally, the CSP whom these small and medium-sized enterprises engage will manage these tasks instead.

  • Provision of a company secretary
  • Provision of nominee services
  • Provision of local office address
  • Incorporation of new companies
  • Assist to prepare Annual General Meeting documents
  • Assist with Annual Return Filings
  • Advise the board of directors on corporate governance best practices

If a private limited company fails to stay compliant with company law, the Singapore government may require the company to appoint a new company secretary who meets the requirements of a company secretary for a public company.

Per the Companies Act, a Singapore company secretary must meet the following requirements:

  • A Singapore company secretary is expected to be knowledgeable and experienced with company regulations and compliance and is expected to have a deep understanding of Singapore company law. In addition, the company secretary is expected to be familiar with all required company annual filings.
  • The corporate secretary’s primary residence must be in Singapore.
  • A Singapore corporate secretary must be an ordinary resident of Singapore.

A public company secretary in Singapore must meet at least one of the following additional requirements:

  • Served as a company secretary for at least 3 of the 5 years immediately before his appointment as secretary of the public company.
  • Being a qualified person under the Legal Profession Act.
  • Being a public accountant registered under the Accountants Act.
  • Being a member of the Institute of Certified Public Accountants of Singapore.
  • Being Member of the Singapore Association of the Institute of Chartered Secretaries and Administrators.
  • Being a member of the Association of International Accountants.
  • Being a member of the Institute of Company Accountants, Singapore.

A corporate service provide (CSP) is a business entity that provides compliance services such as bookkeeping, unaudited financial statements and tax services. CSP also assists with the formation of new business entities, generating payroll calculation and payslips for the client’s employees, and even handling the administrative functions of the client’s business.

The value of a CSP lies in the professional assistance they provide to the companies that hire them as not every entrepreneur is familiar with the ins and outs of running a corporate enterprise. This is where a CSP can step in and help their clients, by providing preventive measures to avoid being penalised for non-compliance acts.

The primary benefit of outsourcing various company tasks to a CSP lies in obtaining professional and personalised approaches to managing administrative tasks and overall functioning of the company. Instead of having to manage the various administrative tasks internally, the CSP whom these small and medium-sized enterprises engage will manage these tasks instead.

  • Provision of a company secretary
  • Provision of nominee services
  • Provision of local office address
  • Incorporation of new companies
  • Assist to prepare Annual General Meeting documents
  • Assist with Annual Return Filings
  • Advise the board of directors on corporate governance best practices