Hi, I want to register my company in Singapore. I found some remote services that could help me do that.

I wanted to know if someone else used these services? I have the following questions:

  1. How reliable are these services in helping you staying compliant with Singaporean authorities?

  2. They say that won’t give me a bank account but can help me get on through wise or other such services. Do these services work reliably?

  3. If you could recommend any of these services which would it be?

  4. Any trouble with these guys not doing the work as promised?

Thank you very much, would also appreciate if I can talk further with you.

:)

  • isit2amalready@alien.topBEnglish
    1·
    1 year ago
    1. They just do what you tell them. They are not actively giving your advice. Doing the bare minimum for compliance as they have thousands of companies.
    2. Ideally you fly in to SG and open up a corp account using your ID.
    3. Spire and other solutions are ok.
    4. No, Osome, Sleek, and others are real companies. This isn’t some 1,200 person island in the Carribean.

    Biggest factor for you is having a Director. This is an actual Singaporean on the ground here in Singapore. Literally anyone with a pulse can do it but they are also on the hook if you do something illegal. Sleek will set one up for you for about $800/6 months or something.

    Second biggest factor is SG bank account. If you are constantly keeping it close to zero you will most likely get it shut down.

    I use Sleek for 3+ years and am neutral with them. Don’t hate them, don’t love them.

  • oolitkasmoolitka@alien.topBEnglish
    1·
    1 year ago

    Osome is great - I use them as a start up and they deal with all documentation relating to the company and accounting.

    • phicreative1997@alien.top
      OPBEnglish
      1·
      1 year ago

      Hello thanks for commenting, can I ask how long have you used them for. Plus have you found any mistakes in the accounting?

      • oolitkasmoolitka@alien.topBEnglish
        1·
        1 year ago

        I used them since December 2021. No problems since. I’ve not found mistakes but note that I generally rely on them so I haven’t extensive scrutinised their work.

  • JimDabell@alien.topBEnglish
    1·
    1 year ago

    Yes, I’ve registered two businesses in Singapore using this type of service, although I am resident in Singapore.

    1. Fine. They will supply a corporate secretary and office address. If you aren’t resident in Singapore you’ll have to pay them extra for a resident director. You’ll pay extra for accounting. These are legal services a lot of people use, not scams.

    2. I signed up for a Wise business account without a problem, but I am resident in Singapore so I don’t know how you will get on. The big three banks in Singapore are old fashioned and typically require you to open the account in person. OCBC made us provide a print out of our website to prove we were a legitimate business! You will probably have more luck with a neobank like Wise (which actually uses DBS accounts behind the scenes anyway).

    3. I’ve used Osome and BlueMeg. BlueMeg made every mistake possible, avoid at all costs. Osome’s website is basically a front-end to email, you can’t do much with it except send them messages. They generally do an okay job. I’ve heard Sleek recommended a lot but have no personal experience.

    4. BlueMeg got our share split between founders wrong; they handed out our postal mail containing debit cards without checking ID; they left placeholder text in our constitution instead of putting our names in; and a bunch of other mistakes. They made similar mistakes with half a dozen other startups I know of too. Fortunately we caught them all because we checked everything, but I regard them as actively hazardous to your business. I don’t think there was a single thing they did for us that didn’t have a big, important, obvious mistake made. As far as I am aware, this isn’t the norm. Osome hasn’t done anything like that and I haven’t heard Sleek doing things like that either.

    • phicreative1997@alien.top
      OPBEnglish
      1·
      1 year ago

      Hi extremely grateful for the detailed comment. Cheers. Also thank you for warning against a bad player in the market.

      Just one more thing I am hoping you could tell me:

      1. How long have you used Osome

      2. Also in your opinion which is better Osome or Sleek?

      Thanks 😊

      • JimDabell@alien.topBEnglish
        1·
        1 year ago

        I’ve used Osome for three years. I can’t recommend Sleek because I haven’t used them, but if I were to set up a new company then I would probably give them a shot.

  • anthonywhitetan@alien.top
    BEnglish
    1·
    1 year ago

    Never use/ heard about Osome. But am a Singaporean, and has open a business before.

    In Singapore, it’s very easy to open a business. Just need to register an entity with the governing ACRA.

    I’m assuming you will have some legal entity/ business operations in Singapore?