The A-Z of Singapore startup grants and schemes. Be your own boss now.

SPRING Start-up Enterprise Development Scheme (SPRING SEEDS)

SPRING SEEDS is another dollar-to-dollar co-funding scheme. It will match third-party investors up to S$1 million (US$770,000). The first round of contribution by SPRING SEEDS is usually capped at S$300,000 (US$232,000).

Technology Enterprise Commercialisation Scheme (TECS)

TECS is an initiative that funds R&D projects for early-stage startups, with the aim of developing technology that can be commercialized. The program is further split into two grants, depending on the maturity level of the technology. In total, a startup could get up to S$750,000 (US$579,000).

Technology Incubation Scheme (TIS)

TIS is another initiative by the NRF, this time targeting early stage startups. Together with partner venture capital firms, it matches up to 85 percent of the VC’s investment, with a cap of S$500,000 (US$385,000) per company. The investor can have the option to buy back NRF’s stake in the company in three years.

source by : https://www.techinasia.com/az-singapore-startup-grants-schemes/

Visit us at www.task.com.sg

Company Mission and Vision

Mission : TASK is a business consultancy firm offering a rang of professional services to meet the clients' need and known for delivering timely and quality professional accounting services through a meticulous approach.

Vision : To be the largest service provider and recognized professional service organization in worldwide with excellence client service which lead to their financial success of the firm.

Visit us at www.task.com.sg

List of Grants for SME

There are grants for SME that can help your company to improve the productivity and capability. Furthermore, we can help turn your investments into tax saving, or receive a cash payouts of up to $60,000. With more than 100 grants given by the various government agencies such as Infocomm Development Authority (IDA), Spring Singapore , Inland Revenue Authority of Singapore (IRAS) . We can help you to determine which ones you qualify for.

Receive up to $60000 of cash payout (PIC)

The IRAS PIC Bonus encourages more companies to take advantage of the PIC scheme to invest in productivity. Businesses that spend a minimum of $5,000 in PIC activities in a year will receive a dollar-for-dollar matching cash bonus. The cash bonus will be up to $15,000 over three Years of Assessment (YA 2013 to YA 2015). It will be paid over and above the existing PIC benefits, and is expected to cost over $450 million over three years.

For more Information please

Visit us at www.task.com.sg

Starting a biz in Singapore (Incorporation)

For Local

A minimum of one shareholder. 100 per cent foreign ownership of shares by individuals or legal entities is allowed

At least one director must be singaporean resident, i. e. a Singaporean citizen, a Singaporean permanent resident (PR) or a foreigner holding a valid Employment Pass (EP).

At least one corporate secretary must be Singaporean resident and qualified to hold the position. Specifically, the corporate secretary must have experience in the custody, maintenance and control of documents according to Singaporean law.

There are no requirements for minimum paid-up capital when incorporating a private limited company in Singapore. It is possible to register a company with paid-up capital of one Singapore dollar. Note that the share capital can be held in any currency.

A local registered address in Singapore is required for a private limited company. Post Office Box addresses are not allowed.

Thus, the formula for the requirements to incorporate private limited company in Singapore is as follows:

Once the decision is made to register a company in Singapore, the standard procedure is divided into three steps. The preparation phase consists of the approval of the company name, preparation and signing of all necessary documents. The incorporation phase (step 2) entails the submission of the actual application to the authorities. The follow-up phase (step 3) consists of opening the necessary bank accounts and, if necessary, obtaining licences and/or permits.

After the company name has been approved, the following incorporation documents must be prepared and filed:

• Memorandum & Articles of Association setting out the objects and bye-laws of the proposed company.
• Statutory Declaration of Compliance (Form 6)
• Certificate of Identity (Form 7)
• Notice of Situation of Registered Office and of Office Hours at time of Incorporation (Form 44)
• Consent to Act as Director & Statement of Non Disqualification to Act as Director (Form 45).

For Foreigners

Singapore law does not allow foreigners individuals or foreign corporate entities to self-register a Singapore company. You must engage a professional secretarial firm to register your Singapore Company.

We have various package to help you to open a company in Singapore. Contact us now and we will give you the quote once we know your requirements of your business set up. We have professional to help you and assist you on this to make your incorporation path as smooth as possible.

Visit us at www.task.com.sg

About Us

We are a business consultancy firm which provides a range of professional services to small and medium business.

By outsourcing your company’s accounting tasks, you get the peace of mind that comes from working with accountants who have the skills and expertise needed to support your business goals.

Outsourcing also helps reduce your business operating costs, which can result in better profit margins. You can eliminate the cost of hiring an accountant, providing a workspace for that individual (desk, computer, etc.), training, payroll tax, and workers ’ compensation and health insurance benefits.

You’ll quite likely save valuable time. If, as a cost-conscious business owner, you are trying to handle many accounting tasks on your own, you may appreciate freeing up that time to focus on your core business.

Visit us at www.task.com.sg