Hi, starting my first business. Definitely a roller coaster of emotions. Phew.
I am looking for advice on how to properly deal with accounting and other legal compliance requirements in the most efficient manner as a startup.
Bonus points if you have experience dealing with Singapore ACRA.
Thank you, very much.
What I did is I paid a local guy to consult and then mainly just asked questions and did most of the actual work myself. I did this mainly for Thai law and I don’t speak Thai so that has been challenging. i also recently opened a company in Singapore so let’s see how that goes. I HIGHLY recommend you learn this because I have managed to reduce my taxes substantially by doing this (I often end with nearly zero tax to pay). I’ve now trained my wife also how to do it (who does speak Thai), so I’m now doing very little for it besides occasionally asking some updates.
So your telling me to do the accounting myself but hire an accountant as an advisor?
My man’s doing taxes in Thailand and doesn’t speak a lick of Thai, but he knows a guy. I bet his tax return forms are just crayon pictures in between official Thai government documents.