Situations we solve
Common situations for Singapore companies, and how we handle them
13 situations of the kind we are built for, grouped by where they arise, and how we work through each one. Illustrative, not client case studies.
Business set-up · Banking · Tax, compliance and reporting
04
Business set-up
Structuring
A founder choosing where and how to set up
- Situation
- An overseas founder planned a regional company and was weighing Singapore against other hubs, with no one resident in Singapore.
- How we approach it
- Map customers, investors and where decision-makers will live; compare locations on substance, tax and banking; choose the year end and directors before filing.
- What you get
- A structure that fits the business, incorporated once, with a bank-ready file and a first-year calendar.
Market entry
Subsidiary, branch or representative office?
- Situation
- A manufacturer in India wanted a presence in Singapore to test South-East Asian demand before committing capital.
- How we approach it
- Compare what each vehicle may do, how it is taxed, what the parent is liable for, and how to move from one to the next.
- What you get
- The right vehicle for the stage the business is at, with an upgrade path agreed up front.
Fundraising
A start-up that expects to raise within 18 months
- Situation
- Founders wanted to incorporate quickly, but investors were likely to arrive within a year and a half.
- How we approach it
- Set up a clean share structure and registers from day one, align the year end with likely investors, plan the option pool, keep founder loans documented, and bring in lawyers for the shareholders' agreement.
- What you get
- A company that passes investor due diligence without a clean-up exercise.
Licensed activity
A company that assumed it could trade on day one
- Situation
- A payments business planned to launch the week after incorporation.
- How we approach it
- Separate the incorporation timeline from licensing: check whether the activity needs a licence under the Payment Services Act and what can be done while the application is pending.
- What you get
- A realistic launch date and no unlicensed activity.
04
Banking
Bank onboarding
A bank application stuck in review
- Situation
- A new company's account application stalled because the business description, ownership chain and expected flows did not line up.
- How we approach it
- Rebuild the onboarding pack: ownership chart to individuals, source of funds, a one-page business description matching the ACRA activity codes, expected volumes.
- What you get
- A consistent story across ACRA, the bank and the company's own documents, which is what reviewers look for.
Remote founders
Directors who cannot travel for bank checks
- Situation
- All directors lived in India and could not travel to Singapore for the bank's identity checks.
- How we approach it
- Shortlist banks that onboard remotely, open a digital account for day-one payments, and prepare a certified document pack for the main bank.
- What you get
- An operating account within weeks while the main bank relationship is set up.
Account review
Outgoing payments held after large group transfers
- Situation
- The bank paused payments after several large transfers to the parent that did not match the profile given at onboarding.
- How we approach it
- Explain the flows with intercompany agreements and invoices, update the bank's profile, and put pricing on an arm's length footing.
- What you get
- Payments released, and group flows that are documented for the bank and for transfer pricing.
Thin team
Paying bills and taxes without a finance office
- Situation
- A two-person team was paying suppliers and taxes by hand from personal cards.
- How we approach it
- Set up GIRO for tax, corporate cards with limits, approval rules in the bank, and a monthly close the team can run.
- What you get
- Fewer manual payments, clean records, and interest-free instalments on tax.
05
Tax, compliance and reporting
Regularisation
A company with missed filings
- Situation
- Annual returns and tax filings had lapsed for two years after a change of management.
- How we approach it
- Reconstruct the books, prepare overdue statements, file in the right order, and agree a clean calendar going forward.
- What you get
- Good standing restored and a calendar that keeps it that way.
Group reporting
A subsidiary told it needs an audit and group accounts
- Situation
- A small Singapore subsidiary of a large overseas group assumed it was audit-exempt and that it had to consolidate its own subsidiary.
- How we approach it
- Run the small company test at group level; review the reporting framework so the intermediate holding exemption could apply.
- What you get
- An audit planned on time, and consolidation avoided where the standards allow it.
Tax residence
A holding company refused a certificate of residence
- Situation
- A foreign-owned holding company relied on a nominee director and board resolutions signed abroad.
- How we approach it
- Redesign governance: a Singapore-based executive director, meetings held in Singapore, an authority matrix and an annual evidence file.
- What you get
- A position that meets the IRAS test and stands up to the parent country's own residence rules.
Departing staff
A seconded manager recalled at short notice
- Situation
- A group recalled its seconded finance head from Singapore with three weeks' notice.
- How we approach it
- File tax clearance with IRAS, withhold what is due, settle the final tax, and line up the paperwork the home country needs to give credit.
- What you get
- Clearance on time, no penalties, and no tax paid twice.
Valuation
An acquisition with a year end six weeks away
- Situation
- A group completed an acquisition late in the year and needed a purchase price allocation before audit fieldwork.
- How we approach it
- Scope in two days; value customer relationships, brand and technology; deliver a live model the audit team can re-perform.
- What you get
- Intangibles and goodwill recognised on time, with auditor questions answered directly.