Osome Blog Singapore

Osome Blog is a resource for entrepreneurs and everyone who wants to become one. We help to avoid mistakes that can be avoided: save money, hire the right people, prevent fines, and make sense of the rules and legal requirements you will face on the way.

How Singapore Will Support Your Business During the Pandemic

The Resilience Budget measures will help local companies survive: up to 25% of the salaries'll get co-funded, tax payments are called off and loans are secured. Read on for details

4 min read

Renting Your First Office Space in Singapore: a Step-by-step Guide

No matter what you want to lease, be it a coworking or traditional office space, there are some universal tips for both. We will help you draw up a plan and avoid some pitfalls. A calculator is included!

6 min read

How Does Transfer Pricing Work in Singapore?

Affiliated businesses often trade on preferential conditions and thus pay less tax. To prevent that, countries developed a system to control the “family business” — the transfer pricing rules. Let’s see how they influence the prices you set, how to play by these rules and what documents to prepare.

5 min read

Understanding Business Insurance

Business is fraught with dangers, and all dangers, from fires to lawsuits, can lead to a financial disaster. You can’t guarantee bad things won’t happen to you, but you can minimize the damage — with the right insurance policy.

5 min read

Osome achieves Xero Platinum status in 3 months

Xero, the global small business platform, awarded Osome with a platinum partner status. This is the highest level of recognition that Xero offers to their counterparts, with only 3 other companies in Singapore holding the title.

2 min read

One-Stop for E-govt Services in Singapore: Why Register for CorpPass

CorpPass is a one-stop authentification platform that helps your business interact with the authorities. We explain what the use of it is, who must sign up for CorpPass, and how to register.

3 min read

3 Сases When It Makes Sense to Register for GST Voluntarily and 1 Case When It Doesn’t

You don't have to register for GST until your revenue is above S$1M. However, you can choose to register earlier as sometimes it can hep you save money. Let's see how it works!

4 min read

The Wage Credit Scheme (WCS)

Singapore encourages employers to pay more in wages by co-funding the pay raises. Learn how you and your team can benefit from it and how the financial aid works. Calculations included!

8 min read

Singapore Companies Now Have to Report on Who Owns Their Business

In April 2020, Singapore businesses will have to submit the Register for Registrable Controllers to ACRA. Before, your company was only obliged to maintain it internally. Now you will have to file the Register with ACRA electronically and maintain it updated at all times.

5 min read

New GST Rules to Kick off in January 2020

Beginning January 1, 2020, all Singapore companies will be charged 7% GST on the services they buy online from foreign-based providers. We explain what to do about it and how to pay the tax. Spoiler: if you are GST-registered, you will have some paperwork to do.

2 min read

How to Register a Trade Mark in Singapore and Beyond

Registering a trade mark can be tricky. Here’s a step-by-step guide with some insights for you to make sense of the process. Bonus track: we explain how to register in Singapore and get international trade mark protection right away

8 min read

Industry-specific Corporate Tax Incentives

Trading, banking or just innovative idea — all of this might be granted a corporate tax incentive in Singapore. Osome outlines what tax reliefs and reductions for business Singapore has to offer.

7 min read

How Singapore Working Mothers Pay Less Tax Thanks to Child Relief

If you’re a working mother earning a taxable income in Singapore, it’s likely you qualify for Working Mother’s Child Relief (WMCR). Read on to find out a bit more about this personal tax relief programme and its benefits.

3 min read

Withholding Tax in Singapore

Transferring money to a non-resident of Singapore will, in most cases, make you pay withholding tax on it. Osome covers who is seen as a non-resident, how to reduce the tax and what the due date is.

8 min read

How Charity Can Help Your Tax Bill: Charitable Deductions in Singapore

In Singapore, the “giving is receiving” principle is brought to the level of national policy: one can make a donation to a charity and claim a tax deduction — for every dollar spent you’ll be deducted 2.5 dollars off your taxable income. How cool is that?

5 min read

Silicon Valley, Meet Singapore

Osome forms a strategic partnership with venture firm and seed accelerator, 500 Startups, by joining their Global Launch initiative. The programme, supported by Enterprise Singapore, will see exceptional startups from around the world plan and execute expansion into Singapore in 2020.

2 min read

Singapore Corporate Income Tax: Rates, System, Reliefs

You make a profit — you pay a corporate income tax. We tell what the current tax rate is, how to reduce the sum you pay and do the counting.

7 min read

Osome Shines Bright in IMDA SG:D Spark Programme

SG:D Spark Programme by Infocomm Media Development Authority of Singapore (IMDA) will simplify access to various grants and allow Osome to pitch to reference customers, leveraging government demand.

2 min read

What Is a Trade Mark in Singapore?

Having a nice design is not enough to make a company legally distinctive among competitors. Let’s clarify what a trade mark can be, when a company needs it, how to transform a trade mark into a valuable asset and how to use it.

7 min read

How to Verify a Company in Singapore

When you find a new partner or a new client, you may want to check the counterparty's reliability. Luckily, there’s a tool to verify companies that small and medium-sized businesses can use for free. Let’s take a closer look at it.

2 min read

XBRL and Tax Filing in Singapore: An Introduction

XBRL is a language used to standardise the way that companies in Singapore file their tax statements online. Take a read to get to know a bit more about XBRL tax filing requirements.

4 min read

Opening a company and bank account on the same day? Easy!

OCBC Bank has partnered up with Osome to co-design a revolutionary service for the Singapore market: same-day incorporation and instant business account opening.

2 min read

Big Ben, Victoria Peak, and $3 Million

Osome announced a $3 million financing led by Target Global. The new investment will help expand its technology platform to the UK and Hong Kong, and already started testing these markets.

2 min read

DIN It: IRAS Document Identification Number Explained

A Document Identification Number (DIN) is what you come across when you file your income tax to IRAS. We cover what it is and how to get one.

3 min read

IR8A: Income Info on Your Employees

In Singapore, employers gather information about their employees’ earnings and submit it to IRAS. That is what IR8A and some other forms are about. Let’s have a closer look

4 min read

Singapore Personal Income Tax Rates YA 2019/2020 & How They Work

We break down Singapore income tax rates and how they apply to foreigners and locals. We will do some counting, so grab your calculators and let’s go!

4 min read

When Do Companies Pay Capital Gains Tax in Singapore?

Capital Gains Tax (CGT) is the money you are to pay to the state when selling something valuable with profit. Singapore does not tax capital gains — in most cases. If you suspect that your situation might be an exception, read on.

4 min read

What You Need to Know About Singapore Accounting Standards

We explain what the international framework for financial reporting is all about and help you understand which of the standards apply to your particular company.

5 min read

Why Become a Singapore Citizen?

For those who have obtained a Permanent Resident (PR) status in Singapore, the next natural step would be to convert their PR into a Singaporean Citizenship (SC). A PR provides a person with clear advantages over a foreign citizen, but having citizenship takes these benefits a step further.

5 min read

How to Get a Government Grant: Guide for Startups & SMEs

Planning to incorporate your business in Singapore? Already running a business? Grants can be of a great help. Learn what grants you can get, and how to improve your chances.

8 min read

Angels and Ventures in Singapore: Who to Pitch Your Startup Right Now

If you’re an early-stage startup looking for venture capital, Singapore is the place to go. Here is a list of top venture capital firms and angel investors in Singapore to look for early-stage startup fundraising and memo on how to choose the right investors.

8 min read

All You Need to Know About IRAS (Inland Revenue Authority of Singapore)

Top Singaporean tax body — Inland Revenue Authority (or IRAS) deals with collecting taxes and helping out the government with any tax matters. Osome guides you through its functions and structure.

3 min read

How Electronic Signatures Work in Singapore

Many businessmen live with reams of papers all over the office — although they don’t have to. In Singapore, most documents can be signed on the computer, which is just as legal.

10 min read

What Investors Want to Hear At Your Pitch

Talking someone into giving you money is hard, especially if we are talking millions. Osome Blog asked 3 founders who succeeded, 1 startup scout and 1 product lead to share their experience. Here’s what they told us.

9 min read

Osome Becomes Xero’s Gold Partner

Osome has received the gold partner status from Xero, a cloud-based accounting software platform. With only 30 Singapore companies holding this title, Xero recognizes Osome expertise in bookkeeping, accounting, and taxation.

2 min read

2,000 Osome Clients

It took us 15 months to grow the first 1,000 clients. Now, only six months later, another 1,000 business owners joined us. Thank you for trusting Osome!

1 min read

How to Set up Alipay & WeChat Pay for Your Business in Singapore?

If you have clients from mainland China, offering them the preferred payment options like WeChat Pay and Alipay is a way to boost your business. The Chinese visiting your website or your offline shop in Singapore will have fewer problems paying and are likely to buy more.

4 min read

How to Become a Singapore Citizen?

Technically, there are very few requirements to apply for citizenship: you must be a Permanent Resident for at least 2 years, you must be employed and be at least 21 years old. Sounds easy, yet there are nuances.

4 min read

How to apply and become Permanent Resident in Singapore

Permanent residency gets you as close to being a Singapore citizen as possible: you get all the same rights and benefits except being able to vote and hold public office. We look at the requirements, the documents you need to prepare, the timeline and chances for approval or rejection.

5 min read

How to Emigrate to Singapore and Get Citizenship?

We explain how to move to Singapore, get a work visa, apply for Permanent Resident status and receive citizenship, looking at the requirements, eligibility and timelines.

5 min read

How to Open a Corporate Bank Account in Singapore

With so many options, choosing a bank and a tariff in Singapore seems challenging. We compared the most startup friendly tariffs in the popular banks in Singapore and found out what you need to open a corporate bank account for a local company.

6 min read

Dream Team: OCBC Bank & Osome Celebrate Their Partnership

We are happy and humbled to be named a valued partner by OCBC Bank. We have been closely collaborating in our mission to bring you the most enjoyable client service. We operate on different scales but we share the same values, so working together has always been pleasant.

1 min read

Will the New Laws Scare the Business Away from the British Virgin Islands?

The British Virgin Islands seem to lose the offshore edge: the EU pressure forced the country to introduce new requirements for businesses. The rulebook compels paper-presence companies to show more substance in the tax haven. We examine if this new legislation is a game changer and why.

4 min read

How Does ACRA's Bizfile Work in Singapore?

As a Singapore entrepreneur, you, or more likely, your Corporate secretary, are going to interact with Bizfile regularly. Residents can access the directory themselves while foreigners need to hire an agent to do that for them. Here are some of the major activities your business might need

2 min read

What Is up with GST in Singapore

Once your company has generated over S$1 million in revenue within a year, you need to register for GST. We look into the process and the requirements.

7 min read

How to Report About your Business Activity Type

As a rule, people starting companies already know what they’ll be doing. The authorities want to know, too, so they ask every entrepreneur about it. Let’s figure out how to decide on the answer and what rules to follow.

2 min read

How to Start a Business in Singapore from New Zealand?

Singapore taxes are low, company formation for foreigners is easy, and a foreigner can own 100% of a Singapore business. If you decide to move, the quality of life is high.

5 min read

Osome Now Has 1,000 Clients

Today we celebrate our first 1,000 clients. Thank you for choosing us to be your guide in Singapore Business Administration.

1 min read

How do I choose between Sole Proprietorship and Private Limited company in Singapore?

Business structure should help your purpose. Choosing Sole Proprietorship or Pte Ltd will define the taxes you pay, the liability, and your obligations to the government bodies.

3 min read

What Taxes Do Australian Entrepreneurs Pay in Singapore?

Singapore corporate tax rate is 17% flat for foreigners and locals. The government supports startups with exemptions. And Singapore and Australia have a Double Taxation Agreement to avoid being taxed twice on the same income.

4 min read

How to Start a Business in Singapore from Australia?

Singapore taxes are low, company formation for foreigners is easy, and a foreigner can own 100% of a Singapore business. If you decide to move, the quality of life is high.

5 min read

What Taxes Do Indonesian Entrepreneurs Pay in Singapore?

Singapore corporate tax rate is 17% flat for foreigners and locals. The government supports startups with exemptions. And Singapore and Indonesia have a Double Taxation Agreement to avoid being taxed twice on the same income.

4 min read

How to Start a Business in Singapore from Indonesia?

Singapore taxes are low, company formation for foreigners is easy, and a foreigner can own 100% of a Singapore business. If you decide to move, the quality of life is high.

5 min read

70% of Entrepreneurs Prefer to Check in via MyInfo for Incorporation and Secretarial Services

Osome has integrated MyInfo to provide SingPass holders with a one-step business formation process, and two-thirds of their clientele use the new feature

2 min read

How not to Hold Annual General Meetings

Annual General Meetings are important. Firstly, they are compulsory. Secondly, vital subjects are discussed there: during AGMs, shareholders approve financial statements. Without the shareholders’ approval, your business can’t meet the filing requirements.

4 min read

What is a Dormant Company and How to Apply for It?

A company becomes Dormant if it has no business activity. The annual filings with ACRA and IRAS become easier and the maintanance is cheaper.

4 min read

What Taxes Do Malaysian Entrepreneurs Pay in Singapore?

Singapore corporate tax rate is 17% flat for foreigners and locals. The government supports startups with exemptions. And Singapore and Malaysia have a Double Taxation Agreement to avoid being taxed twice on the same income.

4 min read

What Taxes Do UK Entrepreneurs Pay in Singapore?

Singapore corporate tax rate is 17% flat for foreigners and locals. The government supports startups with exemptions for the first three years. And Singapore and the UK have a Double Taxation Agreement to avoid being taxed twice on the same income.

4 min read

How to Start a Business in Singapore from the United Kingdom?

Singapore taxes are low, company formation for foreigners is easy, and a foreigner can own 100% of a Singapore business. If you decide to move, the quality of life is high.

5 min read

What Structure Should I Choose for my Company?

There are 3 types of business organization you can choose from. They vary in terms of liability, the number of owners, and relationships between them.

4 min read

Roles and Responsibilities of Company Secretary in Singapore

The Company Secretary is responsible for your Singapore business compliance. You must appoint one within 6 months after incorporation.

3 min read

How to Change Corporate Secretary?

There are several red flags that tell you your current Corporate Secretary is not doing a good job: you have to wait for an answer for days, and follow up with reminders. You do not receive advice on regulation, and when you do it’s often unclear. You're unhappy with the price you pay.

2 min read

3 Minute Guide to Singapore Tax

Singapore is famous for its attractive corporate tax rates. We explain how it works in a snapshot.

2 min read

Osome Raises US$2 Million To Develop And Expand

The funding will support new product development and reaching new markets, including Hong Kong and Australia

2 min read

How Tax Exemptions Work in Singapore?

Singapore tax system is one of the best in the world for entrepreneurs. Learn how to benefit from opening your company and paying its taxes in Singapore.

3 min read

Bonanza: A Deal to End All Deals

The Nominee is cheaper, the Secretary is unlimited, and the deposit is gone

1 min read

Osome to Pioneer Cloud Community Network

Infocomm Media Development Authority (IMDA) names Osome a pioneer company to join the Cloud Community Network.

1 min read

What Taxes Do Indian Entrepreneurs Pay in Singapore?

A guide to Singapore corporate taxes and exemptions for foreign business owners

4 min read

Can I open a company in Singapore under Dependant Pass?

You’re in Singapore under Dependant Pass and time has come to open your own business. Congratulations! Here’s what you need to do.

3 min read

How to start a business in Singapore from Malaysia?

Every year nearly 4,000 Malaysians register their company in Singapore. We put together the main questions they have into a simple guide that will help you grab business opportunities and become one of them.

4 min read

How do dividends work in Singapore?

You’ve made a profit and thinking about paying it out to shareholders. Here’s all you need to know about dividends in Singapore

2 min read

Who is a Nominee Director?

If you don’t have a resident director for your Singapore company, you’ll need a Nominee. We explain how it works and what his role is.

2 min read

What are company secretary job responsibilities?

Once you’ve set up a company, you have 6 months to find a Corporate Secretary. But what are company secretary's duties and functions? What are the Corporate Secretary's responsibilities? Do I need

3 min read

How to start a business in Singapore from India?

Every year over 3,000 Indians register their company in Singapore. We put together the main questions they have into a simple guide that will help you grab business opportunities and become one of them.

4 min read

How can expat open a company in Singapore?

You’re in Singapore under Employment Pass and time has come to open your own business. Congratulations! Here’s what you need to do

3 min read

How to open a company and move to Singapore under Employment Pass?

You plan to open a business in Singapore (or already have) and want to move there. The most common relocation option is Employment Pass — a visa that your company applies for and invites you to work. Find out what it takes and why it’s the easiest way in our simple guide.

3 min read

How and Why can I convert Sole Proprietorship into Pte Ltd in Singapore?

When does it make sense to convert? When you see your business works. Sole Proprietorship is a great way to test ideas. Once you know you’re going to stick with it, consider

2 min read

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