Corporate Services Singapore

Corporate Services. Luther.

Luther Corporate Services Pte Ltd

2

Singapore is constantly rated as one of the world’s best places for starting and doing business. With its investment friendly business climate and far sighted and progressive economic policy, Singapore easily attracts foreign investment. Thus, not surprisingly, Singapore ranks among the leading countries in terms of economic strength, efficiency and attractiveness.

Political stability, policies that foster and emphasise foreign investment, a good comprehensive education system, efficient government authorities, one of the lowest crime rates in the world, a superior infrastructure and well-developed transport network and a dependable legal system are the assets of the island state. In comparison to many other countries,

Singapore frequently attains the best results in areas which are of concern to investors, e. g. efficient bureaucracy, law corruption, the protection of IP rights and an attractive tax regime.

South East Asia’s finance and business hub is still a central place for foreign investors in the Asia-Pacific area. Almost all leading multinational companies have a presence in Singapore. Increasingly, dynamic medium sized firms have disco-vered Singapore as an attractive coun-try for conducting or supervising their business in Asia. Today more than 17,000 international companies call Singapore home. Foreign companies and entre- preneurs from countries with high tax rates or restrictive business environments are particularly attracted to Singapore.

Business Environment in Singapore

3

Luther Corporate Services Pte Ltd

4

Our Services

The Luther law firm and Luther Corporate Services have together the competence and experience necessary to advise and assist clients comprehensively in all stages of a business lifecycle from the formation of a Singapore business vehicle and ongoing legal support services to bookkeeping, accounting, payroll, and cash, fund & payment administration up to the dis-solution of a company.

Establishment of a Singapore Company

We provide fast and efficient service for the formation of Sin-gapore companies, partnerships, limited liability partnerships, limited partnerships, branches and representative offices, including:

�� Advising on the type of entity to be established and the optimal corporate & tax structure�� Preparation of Memorandum and Articles of Association,

partnership agreements and other constitutional documents�� Registration of private/public companies�� Registration of foreign companies (“Branch Offices“)�� Registration of sole proprietorships and partnerships�� Registration (and renewal) of representative offices

(“Rep Offices”)

Our Company

Luther Corporate Services

Luther Corporate Services is a subsidiary of the Luther law firm that enables us to offer our clients a “one-stop” solution for all their business needs. Our accountants and tax consultants provide all services which our clients expect of such a one-stop concept, from outsourced administration, payroll and account-ing to tax advice. Additionally, there is a team available to our clients which provides corporate secretarial services under the supervision of an experienced Singapore-qualified lawyer.

Luther in Singapore

With a staff strength of about 70, Luther is by far the largest German law firm in Singapore. More than 16 lawyers cover the whole range of corporate and commercial legal work as well as the structuring of investments within South East Asia and the wider Asian region.

Luther in Germany

With 350 attorneys and tax advisors, Luther is one of the major commercial law firms in Germany. Luther provides legal advice in all areas of commercial law. The German offices are located in Germany’s major business centers. Additionally, Luther has offices in key European and Asian markets: Brussels, Budapest, London, Luxembourg, Shanghai and Singapore.

Taxand

Luther Germany is a member of Taxand, a worldwide organi-sation of independent tax advisory firms. More than 2,000 specialists from approximately 50 countries are part of Taxand. The focus of their work is the support of clients’ strategic goals through excellent tax advice. Taxand limits its membership to one tax advisory firm per country.

5

�� Preparation of notices, minutes, and other documents pertaining to directors’ and shareholders’ meetings (Annual General Meeting and Extraordinary General Meeting)�� Managing changes:

�� Change of name�� Change in constitutional documents�� Change in capital structure (transfer of shares,

new issuance of shares, repurchase of shares)�� Change of shareholders�� Change of directors, managers, auditors and

company secretaries�� Change of registered office address

�� Provision of registered office/correspondence address�� Applications for Employment Passes, Dependant Passes

and Permanent Residence (PR) in Singapore�� Opening of bank accounts and managing changes to

bank signatories�� Corporate restructuring

Corporate Secretarial Services

We provide the complete range of corporate services to both large and small companies in Singapore.

1. Provision of personnel to assume statutory positions�� Company secretary�� Statutory agent�� Nominee director�� Nominee shareholder�� Nominee manager

2. General Services to ensure Statutory Compliance�� Advice on best practice and corporate governance and

compliance with the Singapore Companies Act�� Setting up statutory books and registers�� Custody and maintenance of statutory books and registers�� Custody of common seal�� 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

Luther Corporate Services Pte Ltd

6

3. Statutory Accounting�� Preparation of financial statements�� Preparation of consolidated financial statements which

includes the consolidated cash flow statement, consoli-dated statement of changes in equity and notes to the financial statements in compliance with the Financial Reporting Standards (FRS)

�� Review and computation of tax and deferred tax provisions for inclusion into financial statements

�� Re-measuring accounts to functional currency�� Completing consolidation and head office reporting

packages

4. Individual and Corporate Tax Compliance�� GST registration and quarterly filing�� Preparation and filing of corporate tax statement with

tax authorities�� Preparation and filing of individual tax statement with

tax authorities�� Advising on Double Taxation Agreements (DTAS)�� Advising on complex and international tax structures�� Negotiations with the Internal Revenue Authority of Singa-

pore (IRAS) regarding individual or corporate tax issues�� Dealing with stamp duty payments and stamp duty relief

Accounting & Financial Reporting

At Luther Corporate Services we carry out the time con-suming administrative tasks of the accounting function a business must undertake allowing clients to concentrate on growing their businesses.

1. Bookkeeping�� Setting up the chart of accounts�� Recording of all payments and funds received�� Preparation of monthly bank reconciliation statements�� Recording of all sales and trade debtors�� Recording of all purchase and trade creditors�� Recording of prepayments and accruals�� Recording of all assets purchased and related depreciation�� Recording of all Goods and Services Tax (GST)

on the taxable purchases/supplies�� Extraction of monthly trial balances and general ledger

2. Management Reports�� Compiling of profit and loss account and balance sheet�� Generating aged financial analysis of debtors and creditors�� Preparation and submission of quarterly GST returns�� Business advisory services such as accounting reports

and preparation of business plans�� Budget preparation and comparison and analysis of key

components of financial performance

7

Dissolution / Deregistration

We offer expertise in the dissolution of entities and provide advice on the most suitable mode of deregistration. These services include:

�� Preparation and filing of all necessary documents for the voluntary winding-up of an entity

�� Arranging dormancy of legal entities and cessation of business

�� Handling deregistration/striking-off of entities

RestructuringOur legal team together with our Corporate Services depart-ment provides advice on all aspects of corporate restructurings.

Human Resources & Payroll Administration

At Luther Corporate Services we offer full outsourcing services for the management of payroll, personnel data and employee benefits. We can assist through tailored solutions to meet spe-cific client requirements, such as:

�� Pay invoices and employee expense claims�� Issue payment vouchers and prepare cheques�� Mailing of signed cheques to payees or remittance of

funds by telegraphic transfer�� Computation of net salary�� Computation of Central Provident Fund (CPF) contributions�� Providing payroll reports & financial journals�� Handling payment of net salary and CPF via our client trust

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 adminis-tration 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 com-

pany 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.

Luther Corporate Services Pte Ltd

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.

Your contact: Birgitta von Dresky, Phone +65 6408 8000, birgitta.von.dresky@luther-services.com

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

www.luther-services.com www.luther-lawfirm.com