Corporate Services Singapore

The One-Stop Solution For All Your Business Needs

Corporate Services | www.luther-services.com Corporate Services Singapore

Business Environment in Singapore

Singapore is constantly rated as one of the Singapore frequently attains the best world’s best places for starting and doing results in areas which are of concern to business. With its investment friendly investors, e. g. efficient bureaucracy, law business climate and far sighted and corruption, the protection of IP rights and progressive economic policy, Singapore an attractive tax regime. easily attracts foreign investment. Thus, not surprisingly, Singapore ranks among the leading countries in terms of economic South East Asia’s finance and business strength, efficiency and attractiveness. hub is still a central place for foreign investors in the Asia-Pacific area. Almost all leading multinational companies have Political stability, policies that foster a presence in Singapore. Increasingly, and emphasise foreign investment, a dynamic medium sized firms have disco good comprehensive education system, vered Singapore as an attractive country efficient government authorities, one of for conducting or supervising their the lowest crime rates in the world, a business in Asia. Today more than superior infrastructure and well-developed 17,000 international companies call transport network and a dependable legal Singapore home. Foreign companies and system are the assets of the island state. entrepreneurs from countries with high tax In comparison to many other countries, rates or restrictive business environments are particularly attracted to Singapore.

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Our Company Our Services

Luther Corporate Services The Luther law firm and Luther Corporate Services have together the competence and experience necessary to advise Luther Corporate Services is a subsidiary of the Luther law and assist clients comprehensively in all stages of a business firm that enables us to offer our clients a “one-stop” solution for lifecycle from the formation of a Singapore business vehicle all their business needs. Our accountants and tax consultants and ongoing legal support services to bookkeeping, accounting, provide all services which our clients expect of such a one-stop payroll, and cash, fund & payment administration up to the concept, from outsourced administration, payroll and accounting dissolution of a company. to tax advice. Additionally, there is a team available to our clients which provides corporate secretarial services under the Establishment of a Singapore Company supervision of an experienced Singapore-qualified lawyer. We provide fast and efficient service for the formation of Luther in Singapore Singapore companies, partnerships, limited liability partnerships, limited partnerships, branches and representative offices, With a staff strength of about 90, Luther is by far the largest including: German law firm in Singapore. More than 18 lawyers cover the whole range of corporate and commercial legal work as well as Advising on the type of entity to be established and the the structuring of investments within South East Asia and the optimal corporate & tax structure wider Asian region. Preparation of Memorandum and Articles of Association, partnership agreements and other constitutional documents Luther in Germany Registration of private/public companies Registration of foreign companies (“Branch Offices“) With 350 attorneys and tax advisors, Luther is one of the major Registration of sole proprietorships and partnerships commercial law firms in Germany. Luther provides legal advice Registration (and renewal) of representative offices in all areas of commercial law. The German offices are located (“Rep Offices”) in Germany’s major business centers. Additionally, Luther law firm has offices in key European and Asian markets: Brussels, Budapest, London, Luxembourg, Shanghai, Singapore and Yangon.

4 Corporate Secretarial Services Preparation of notices, minutes, and other documents pertaining to directors’ and shareholders’ meetings (Annual We provide the complete range of corporate services to both General Meeting and Extraordinary General Meeting) large and small companies in Singapore. Managing changes: Change of name 1. Provision of personnel to assume statutory positions Change in constitutional documents Company secretary Change in capital structure (transfer of shares, Statutory agent new issuance of shares, repurchase of shares) Nominee director Change of shareholders Nominee shareholder Change of directors, managers, auditors and Nominee manager company secretaries Change of registered office address 2. General Services to ensure Statutory Compliance Provision of registered office/correspondence address Advice on best practice and corporate governance and Applications for Employment Passes, Dependant Passes compliance with the Singapore Companies Act and Permanent Residence (PR) in Singapore Setting up statutory books and registers Opening of bank accounts and managing changes to Custody and maintenance of statutory books and registers bank signatories Custody of common seal Corporate restructuring Preparing and lodging all prescribed forms and requisite documents with the Accounting and Corporate Regulatory Authority (ACRA) Preparation of accounts in XBRL format incl. lodging with ACRA

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Accounting & Financial Reporting 3. Statutory Accounting Preparation of financial statements At Luther Corporate Services we carry out the time Preparation of consolidated financial statements consuming administrative tasks of the accounting function which includes the consolidated cash flow statement, a business must undertake allowing clients to concentrate consolidated statement of changes in equity and notes to on growing their businesses. the financial statements in compliance with the Financial Reporting Standards (FRS) 1. Bookkeeping Review and computation of tax and deferred tax provisions Setting up the chart of accounts for inclusion into financial statements Recording of all payments and funds received Re-measuring accounts to functional currency Preparation of monthly bank reconciliation statements Completing consolidation and head office reporting Recording of all sales and trade debtors packages Recording of all purchase and trade creditors Recording of prepayments and accruals 4. Individual and Corporate Tax Compliance Recording of all assets purchased and related depreciation GST registration and quarterly filing Recording of all Goods and Services Tax (GST) Preparation and filing of corporate tax statement with on the taxable purchases/supplies tax authorities Extraction of monthly trial balances and general ledger Preparation and filing of individual tax statement with tax authorities 2. Management Reports Advising on Double Taxation Agreements (DTAS) Compiling of profit and loss account and balance sheet Advising on complex and international tax structures Generating aged financial analysis of debtors and creditors Negotiations with the Internal Revenue Authority of Preparation and submission of quarterly GST returns Singapore (IRAS) regarding individual or corporate tax Business advisory services such as accounting reports issues and preparation of business plans Dealing with stamp duty payments and stamp duty relief Budget preparation and comparison and analysis of key components of financial performance

6 Human Resources & Payroll Administration Dissolution / Deregistration

At Luther Corporate Services we offer full outsourcing services We offer expertise in the dissolution of entities and provide for the management of payroll, personnel data and employee advice on the most suitable mode of deregistration. These benefits. We can assist through tailored solutions to meet services include: specific client requirements, such as: Preparation and filing of all necessary documents for Pay invoices and employee expense claims the voluntary winding-up of an entity Issue payment vouchers and prepare cheques Arranging dormancy of legal entities and cessation Mailing of signed cheques to payees or remittance of of business funds by telegraphic transfer Handling deregistration/striking-off of entities Computation of net salary Computation of Central Provident Fund (CPF) contributions Restructuring Providing payroll reports & financial journals Our legal team together with our Corporate Services department Handling payment of net salary and CPF via our client trust provides advice on all aspects of corporate restructurings. account, including deposit of net pay into employee’s bank accounts and issuance of confidential pay slips Preparing year-end IR8A and IR8S Preparing IR21 and other payroll related forms Ensuring compliance with all reporting requirements of the Inland Revenue Authority of Singapore (IRAS) and CPF in Singapore Applications for Employment Passes, Dependant Passes and Permanent Residence (PR) in Singapore Administration of share option schemes

Cash, Fund & Payment Administration

Luther Corporate Services supports a diverse portfolio of clients ranging from small and medium-sized enterprises to multinational corporations with cash, fund & payment administration services. For smaller businesses where segregation of duties is an issue our service functions as an additional internal control to company funds.

Administration of cash funds deposited with us or in client’s own bank accounts Cash forecasting and processing of accounts receivables Account signatory services to arrange settlement of company obligations to suppliers, payroll, employee expense reimbursements and other fund transfers Opening of bank accounts and managing changes to bank signatories General administration, e. g. post forwarding, call forwarding, etc.

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Luther Corporate Services, the Corporate Services arm of Luther lawfirm enables us to offer our clients a “one-stop” solution for all their business needs. Our accountants, company secretaries and tax consultants provide the whole range services, which our clients expect from such a one-stop concept, from corporate secretarial services, outsourced administration, payroll and accounting to tax compliance. We assist our clients comprehensively in all stages of a business lifecycle, from the formation of a business vehicle, to ongoing support and statutory compliance matters and to the dissolution of a company.

Delhi-Gurgaon, Kuala Lumpur, Shanghai, Singapore, Yangon

Your contact: Birgitta von Dresky, Phone +65 6408 8000, [email protected]

Further contacts can be found on our website www.luther-lawfirm.com and www.luther-services.com.

02/2016 Corporate Services | www.luther-services.com