Many people see the dream of creating their own company. But, creating a company is much easier than establishing it for a long time. There are some works need to be done, when you create a new company. If you want to incorporate a company in singapore, you can contact https://www.companyregistrationsingapore.com.sg/.
Choose the company name
Check the Business Registrar’s website if your chosen name is available.
Check that if .COM is available for your desired business name andbuy it as soon as possible.
Getting important papers for the company
You need to arrange “Trade License” to legalize your business in the county. When a new business is established, it needs to pay some taxes. And that is why you need to arrange tax papers for your company. Contact companyregistrationsingapore.com.sg today to incorporate a company in singapore easily.
Open a company account at the bank
You need to create at least one bank account for the company. Total transaction of money can be measured through that bank account.
Procedure to pay you
If you are the only employee of your company, you pay your company pay to you (a simple transfer of account).
Keep a copy in an excel file of salary payments made, along with the corporate portion of the payroll deductions. A pay calculator is also important for proper pay management.
Fees which need to be calculated
- Accountant for bookkeeping and / or annual financial statement: around $ 1000 / year
- Disability insurance if you can no longer work due to accident or illness – about $ 75-100 / month
Estimated calculation of income
Estimated calculation of the annual salary:
Hourly rate * 35 hours * 46 weeks (52 weeks – 2 holidays – 4 vacations)
Suggestion, pay yourself in annual salary so that you can pay all business costs, bookkeeping, government withholdings.