Before creating an account in Talenox, a company/business must go through the Singapore company incorporation process first to set up a company and start doing business in Singapore.
Here are some important steps that you can refer to:
1. Setting a business in Singapore
2. Signing up for a CorpPass account
3. Setting up CPF submission number (CSN)
How to set up a business in Singapore?
The most common type of business entity to set up in Singapore is a Private Limited company (Pte Ltd). A private limited company is limited by shares and has a separate legal entity from its shareholders. It is recognised as a taxable entity in its own right.
All companies in Singapore must be registered with the Accounting & Corporate Regulatory Authority (ACRA) and abide by the Companies Act. You can begin setting a business in Singapore via https://www.acra.gov.sg/.
Once set up, you will be given a Company UEN (it's the same number for company Income Tax account too).
Here is the minimum set up requirements to register a company in Singapore:
- One (1) Shareholder (individual or corporate entity)
- One (1) Resident Director
- One (1) Company Secretary
- Initial paid-up share capital of at least S$1
- A physical Singapore registered office address
How to sign up for a CorpPass account?
CorpPass is a corporate digital identity for businesses and other entities (such as non-profit organisations and associations) to transact with Government agencies online. CorpPass also enhances cyber hygiene by allowing employees to use CorpPass, instead of SingPass, to transact on their company's behalf.
It allows companies greater convenience and visibility, by providing a single platform to grant and manage the authorisations given to their employees across all government digital services i.e. tax, CPF etc.
To register, simply head over to CorpPass website and click on the "Register as a CorpPass Admin" button.
How to set up CPF Submission Number (CSN)?
Companies are strongly encouraged to use CPF e-Submit@web to e-submit CPF contribution details and make payment via Direct Debit.
To do this, you will need to register online for CPF e-Submit@web.
You can refer to this article to guide you on how to obtain CPF Submission Number for your new company.