If your company has never applied for a Work Permit or S Pass before, you must declare your business activity before submitting any Work Permit or S Pass application.
Based on your declaration, the regulatory authority assigns your business to the most relevant sector. Your sector will determine the number of Work Permit and S Pass holders you can hire.
Once the sector is assigned, you can proceed to submit the Work Permit and S Pass applications.
The Singapore Standard Industrial Classification (SSIC) is the national standard for classifying economic activities undertaken by economic units and the source for business activities.
In Singapore, Standard Industrial Classification (SSIC) codes indicate what your company does and in what field. ACRA demands that businesses submit at least a primary SSIC code and may submit up to 2 with a single sentence customized description of your business activity.
Company secretarial services in Singapore can advise you on the best SSIC code that suits your business and especially at a time when you are not sure about the scope of your business and a change of business activity in Singapore. It is common to spend hours and days deciding on the SSIC.
The Singapore Companies Act, Chapter 50 does not specify the exact details of actions the directors of the company needs to undertake for board resolution and depends on the constitution of companies.
The Board Resolutions of private companies need not be submitted to any legal body in Singapore and only show if directors are fulfilling their corporate governance responsibilities to the company. The reason for the change of business activity in Singapore must be specified in the company resolution bearing approval from the directors.
Board Resolution serves as a permanent record of confirmation for the decision for a change of business activity in Singapore and helps auditors verify certain transactions and internal controls.
Book a consultation appointment with our professionals now.
Book a consultation appointment with our professionals now.
Best Consultant to set up company in Singapore. Excellent team of People. Perfectly oriented and guided by team. Best in the country as well as business.
We have been taking IMC service more more than a year now. They have been completely professional in their approach and they give us an overall perspective for each query we have.
We approached IMC for our trademark applications and have been working closely with Mayuri from the IMC team in Singapore. We had an absolutely stress-free experience.
IMC Singapore is one of the best Consultant to set up company in Singapore, they have an excellent team of People who guide you right from the begining to start up new company in Singapore .
143 Cecil Street,
25-04B GB Building,
Singapore 069542
Tel: +65-91269927