Frequently Asked Questions
About JJ & E
What are your company operating hours?
Our operating hours are from Monday to Friday, 9am – 6pm, excluding public holidays.
Where is your office located?
Our office is located at 10 Anson Road #10-11 International Plaza Singapore 079903. Please click here for directions to our office.
How can I get in touch with you if I have questions?
Order & Payment
How do I place an order?
1. Browse our Shop page for the list of services that we provide.
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?
You can make payment online using your PayPal account or debit/credit card.
How do I know whether my payment is successful?
A notification email with receipt will be emailed to you upon successful payment.
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?
Company incorporation can be done within few hours for non-complicated case and is subject to Accounting Corporate Regulatory Authority (ACRA) approval.
What are the requirements for a foreigner to set up a company in Singapore?
For foreigner who want to set up a company in Singapore, you need to appoint a local director who must be either a Singapore Citizen or Singapore Permanent Residence (SPR).
Who is eligible to act as the Director of a Singapore company?
A natural person who has attained the age of 18 years and is not disqualified from acting as a director as specified under the Companies Act Chapter 50 is eligible to act as a Director of a Singapore company.
How many directors are required for opening a company in Singapore?
Singapore Company can be incorporated with a single director. However please note that at least one of the director must be a Singapore local resident (Singapore Citizen or Singapore Permanent Resident).
Is it mandatory to have Company Registered Address?
Yes, it is mandatory to have a Singapore address for your Singapore Registered Company. You may subscribe to our registered address service here.
Is it mandatory to appoint a Company Secretary?
Yes, under section 171 of the Companies Act requires a company to appoint a company secretary.
When do I need to appoint a Company Secretary?
All companies in Singapore must appoint a Company Secretary within six (6) months after its incorporation. Our company incorporation packages are already inclusive of secretarial services for one (1) year to ensure that our clients stays compliant with this mandatory requirement. Clients can choose to renew our Company Secretary services from the 2nd year onwards with a moderate retainer fee of $360/- per year or take up our Company Secretary & Tax reporting package which is inclusive of 1 fresh year of Company Secretary Service and all mandatory reporting at modest fees.
What is paid up capital?
Paid-up capital is the total amount of capital that invest by shareholders.
What is the minimum paid up capital?
The minimum paid up capital requirement for setting up a company in Singapore is S$1.00.
What is the company tax rate?
For the first 3 years, you are liable to pay tax for net profit more than S$100,000 at 17% company tax rate. After 3 years, it will be 17% of the net profit.
How do I determine my financial year end?
All newly incorporated companies must fix a financial year end (FYE). In Singapore you have the option of choosing your FYE within 18 months of your company’s incorporation date. However, it is best that you keep your account within 12 months so that you can fully utilize the 3 years tax exemption benefit from IRAS (Inland Revenue Authority Of Singapore).
What is a financial report?
It is a formal record of a company financial information, such as profit & loss, cash flow statement, balance sheet etc, and also director’s report & shareholding for the relevant accounting period.
What is profit & loss?
Profit & loss consists of company sales/revenue/income. Expenses can be purchase of goods, transportation, salaries, utilities, etc.
What is balance sheet?
Balance sheet (company’s assets & liabilities) consists of trade debtors, trade creditors, cash & bank balances, fixed assets, such as office equipment, renovation, etc.
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 on 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?
Your company AGM will be due 6 months after your financial year end. After which you will incur penalties from ACRA (Accounting and Corporate Regulatory Authority) at $300 per section.
Is my company required to file XBRL (eXtensible Business Reporting Language)?
XBRL is only compulsory for limited private company (company with corporate shareholder) or insolvent company. Otherwise, on top of our Annual package fee, you can file XBRL voluntarily with additional fee.
Why do we have to do e-stamping or stamp duty?
This is the requirement from IRAS. You are required to pay stamp duty fees as long as there is a share transfer.
Does JJ & E company secretary package fee include book-keeping service?
No. However, you may wish to take up our Bookkeeping service from minimum fees of $50/-monthly depend on the work volume.
Should I do my book-keeping yearly / quarterly / monthly?
If you have medium to large number of accounting transactions each month, we highly recommend that you perform monthly bookkeeping to keep your ledgers in order. If however your number of monthly financial transactions is relatively low in volume, you can perform bookkeeping on a quarterly or annual basis.
Do I have to register for GST?
GST is compulsory to register within 30 days when the turnover of your business is more than $1 million for the past 12 months OR you are currently making sales and you can reasonably expect the turnover of your business to be more than $1 million for the next 12 months.
What will happen if I do not file my GST on time or pay my GST tax?
IRAS will send a penalty letter to the company for 5% of late filing fee. If penalty is not paid within 60 days, additional of 2% of late filing fee + enforcement action (such as frozen your bank account until you pay, restrict you from leaving Singapore, etc.) will be imposed.
What can I do if I have difficulty paying GST tax?
You may request to pay the tax by instalments from IRAS. IRAS will review your business’ financial situation and advise accordingly and is subject to approval.
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.
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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
- WeChat : +65 98346998
- Email : firstname.lastname@example.org
- Address : 10 Anson Road #10-11 International Plaza, Singapore 079903
- Business Hours : Monday - Friday, 9am - 6pm