Frequently Asked Questions
About JJ & E
What are your company operating hours?
Where is your office located?
How can I get in touch with you if I have questions?
Order & Payment
How do I place an order?
2. Click on the desired item to view more details.
3. To purchase the item, select your options from the dropdown menu at the bottom of the page (where applicable) and click on the “Add to cart” button to add the product to your shopping cart.
4. If you wish to continue browsing, click on the “Continue Shopping” button to go back to the main Shop page.
5. When you are ready to checkout, verify your orders (update the order quantity if necessary) and click on the “Proceed to Checkout” button.
6. Enter your details on the next page (or login if you already have an existing account) and click on the “Proceed to PayPal” button to proceed with payment.
7. Login to your PayPal account if you are using your PayPal funds to make payment. If you are making payment by credit/debit card, simply click on the “Check Out as a Guest” button and enter your card details on the next page.
8. If you have purchased a company incorporation package/business-to-company conversion package/secretarial and tax package, you will be directed to an online form for you to provide us with your company details after you have made payment. Fill up the form to the best of your ability and click the “Submit” button at the end when you are done.
9. Upon completing your order, you will receive two emails (an order confirmation email and an email from PayPal) to inform you that your payment and order is successful.
How can I make payment?
How do I know whether my payment is successful?
Company Incorporation
What are the basic requirements for incorporation in Singapore?
- Proposed company name
- Registered address
- Nature of business (maximum 2)
- Paid up capital
- Director and Shareholder
- Identity Card (IC) copy (for local) and passport copy (for foreigner) of directors and shareholder
Residential address (proof of address is required, e.g. Phone bill, utility bill. etc)
How long does the incorporation process take?
What are the requirements for a foreigner to set up a company in Singapore?
Who is eligible to act as the Director of a Singapore company?
How many directors are required for opening a company in Singapore?
Is it mandatory to have Company Registered Address?
Is it mandatory to appoint a Company Secretary?
When do I need to appoint a Company Secretary?
What is paid up capital?
What is the minimum paid up capital?
Corporate Services
Account
What is Singapore company tax rate?
In Singapore, a company is taxed at a flat rate of 17% on its chargeable income. For all qualifying new companies, they are able to enjoy 75% of tax exemption on the first S$100,000 of chargeable income, and a further 50% of tax exemption on the next S$100,000 of chargeable income for the first three consecutive Year Assessments (YAs).
How do I determine my financial year end?
All newly incorporated companies must decide on the first financial year end (FYE). As per ACRA, the company may choose their first FYE fall within 18 months from the incorporation date. However, it is best that the company to keep their first 3 years of financial period within 12 months, so that the company can fully utilize the tax exemption benefits from Inland Revenue Authority of Singapore (IRAS).
What is a financial report?
It is a formal record of a company’s financial information, such as profit & loss, cash flow statement, balance sheet, etc. Also, director’s report & shareholding for the relevant accounting period.
What is profit & loss?
A financial statement summarizes the revenues, costs and expenses of the company incurred during the financial period. It provides the information whether a company has made a profit or a loss for the financial period.
What is balance sheet?
A balance sheet is a report of a company’s assets, liabilities, and shareholders’ s equity or retained earnings as of the financial year end.
Corporate Secretary
How do we go about to appoint JJ & E as my company secretary?
An appointment will be fixed and all the directors in the company will have to visit JJ & E office to sign all necessary company resolution documents. Kindly bring along your NRIC/Passport copy.
When do I need to provide my Balance Sheet, Profit & Loss to JJ & E?
We encourage our clients to provide us the P&L and Balance Sheet at least 1-2 months before the AGM (Annual General Meeting) due date.
When is my company AGM (Annual General Meeting) due?
It will be 6 months after your financial year end. After its due date, you will incur penalty from ACRA (Accounting and Corporate Regulatory Authority) at $300 per section.
Why do we have to do e-stamping or stamp duty?
This is the requirement from IRAS. You are required to pay stamp duty fee as long as there is a share transfer.
Bookkeeping
Does JJ & E company secretary package fee include book-keeping service?
No. However, we do provide Accounting and Bookkeeping Packages from minimum fees of $500/- yearly depending on the work volume. You may email to enquiry@jje.sg or call us at +65 6225 1028 for more details.
Should I do my book-keeping yearly / quarterly / monthly?
If you have medium to large number of financial transactions each month, we highly recommend that you perform monthly or quarterly bookkeeping to keep your ledgers in order. However, if your number of monthly financial transactions is relatively low in volume, you can perform bookkeeping on a quarterly or annual basis.
GST
Do I have to register for GST?
A company MUST register for GST within 30 days IF the taxable turnover of the company for the past 12 months is more than S$1 million, or you are certain that your taxable turnover for the next 12 months will exceed S$1 million. However, company may choose to register for voluntarily GST after careful considerations.
What will happen if I do not file my GST on time or pay my GST tax?
A late submission penalty will be imposed after its due date. IRAS may issue an estimated Notice of Assessment (NOA) and impose a 5% penalty on the estimated/overdue taxes, IRAS may take legal actions to against you if you do not pay amount due after the 5% penalty.
What can I do if I have difficulty paying GST tax?
You may make a request to IRAS to pay your tax by instalments, which is subject to IRAS approval. IRAS will review your business’ financial situation and advise accordingly.
For non-GST registered company, can I claim or charge GST?
No, you are not allowed to charge GST or claim GST if you are not a GST registered company.
Still Have Questions? We're Here To Help.
About JJ & E
JJ & E is an established professional firm that provides a one stop corporate solution with more than a decade of experience. Our services include Singapore Company Registration & Incorporation, Company Secretary, Accounting & Bookkeeping, Virtual Office, and Corporate Identity / Printing solution.
- Tel : (+65) 6225 2028
- WhatsApp / WeChat : +65 9834 6998
- Email : enquiry@jje.sg
- Address : 10 Anson Road #10-11 International Plaza, Singapore 079903
- Business Hours : Monday - Friday, 9am - 6pm