Among the other professional services, Rikvin through its professional team of accountants provides accounting services within the range of bookkeeping, GST registration and filing, Payroll preparation, and Personal Income Tax filing.

Equity Plaza, Singapore -- (SBWIRE) -- 11/24/2010 -- As globalization continues to become the global market trend and soon characterize local economies, the need for accuracy in accounting widens and deepens. Under the Accounting Standards Act, the Accounting Standards Council is empowered to impose accounting standards to companies, co-operative societies, and charities.

The intention of such policy is to adopt the International Financial Reporting Standards prescribed by the International Accounting Standards Boards with goals of attaining greater transparency and comparability of financial information among the companies, mitigating compliance costs for companies that invest in Singapore and local companies expanding offshore.

Accounting has been described as the language of business. It has become an essential part of acquiring knowledge especially in matters relating to corporations.

Among the other professional services, Rikvin through its professional team of accountants provides accounting services within the range of bookkeeping, GST registration and filing, Payroll preparation, and Personal Income Tax filing.

"Based on the financial documents submitted to us," a representative of Rikvin explains how its bookkeeping service works, "a personal account manager assigned to work with a company-client will review and organize the information from those documents to create and maintain the accounts ledger."

Also, complying with the guidelines issued by the Financial Reporting Standards, "our account manager can help draft the financial statements for statutory submissions," Rikvin's representative added.

Included in the bookkeeping services of Rikvin are maintenance of information from different aspects such as general ledger, accounts payable ledger, accounts receivable, fixed assets ledger; cash flow, financial analysis, management reporting, and books cleanup.

For companies existing in the nature of providing goods and services and which earns more than S$1 million, the government of Singapore requires that such company register with the comptroller of GST, a value added tax that levies against goods and services. However, should the company's revenues do not exceed the S$1 million limit, the company may still voluntarily register if such registration benefits the company.

GST registration and filing are among the specialization of Rikvin, a private limited company based in Singapore, providing professional services such as company registration, compliance with statutory requirements, and accounting services. Through its competent accountants, the corporate solution provider can register for GST with IRAS in behalf of the client-company.

In addition, Rikvin offers an assessment to determine the impact of GST registration on the company and its clients. Based on that assessment, Rikvin may advise the company on the optimum GST filing cycle.

Part of an accounting function is to prepare the payroll of the company's employees. For convenience, Rikvin can help create and maintain the payroll ledger.

"Based on the information submitted to us, the personal account manager assigned to that company will review and organize the information for whatever purpose it may benefit the company, like making payments and submitting all necessary payroll taxes."

Tax filing and payment, obligations of tax residents and non-tax residents, are still a specialization of Rikvin.

"For a tax resident, the income tax rates follow a progressive pattern while a non-tax resident maintains a flat rate," the representative explains.

For matters relating to company registration, taxation, programs to ease the burden of GST, Rikvin can offer a wise advisory.

About Rikvin
Rikvin has been assisting clients from all over the globe in their Singapore immigration and company registration services. Rikvin operates to offer assistance both to local and foreign business professionals to register a Singapore company. The firm provides a complete corporate solution under one roof for which includes incorporation, Singapore accounting services, opening of corporate accounts, business registration, tax, immigration related to work passes visa such as Personalised Employment Pass and compliance services in Singapore.

Our office is located at Raffles Place, in the heart of the Singapore business district. ("CBD") If you are in our neighborhood and want to discuss any aspect of our service then feel free to come in to our offices during business hours.

http://www.rikvin.com
20 Cecil Street, #14-01, Equity Plaza, Singapore 049705
Main Lines : (65) 6438 8887
Fax : (65) 6438 2436
Email : info@rikvin.com

For more information on this press release visit: http://www.releasewire.com/press-releases/release-3.htm

Singapore maintains high scores in ranges such as investment potential, investment incentives, and workforce productivity.

Equity Plaza, Singapore -- (SBWIRE) -- 11/18/2010 -- The history of Singapore tells of a story beginning in the 1819 when it was discovered by Sir Stamford Raffles, a British who was also instrumental in the success of Great Britain's Far Eastern empire. Raffles' knack in politics and economy was evident in Singapore's participation in commerce with countries like Celebes, Philippines, Malay Peninsula, Bali and other neighboring islands since his discovery of the island. Raffles was a great influence into what Singapore is known today—a financial center in Asia Pacific.

"In almost every benchmark set by regional and international business ranking," says a business consultant of Rikvin, a company based in Singapore and which has been designed to extend professional services to entrepreneurs and foreign companies to incorporate a Singapore company or register a new company, "Singapore maintains high scores in ranges such as investment potential, investment incentives, and workforce productivity."

One reason to Singapore's impressive ranking is its free enterprise policy posing reasonable restrictions on foreign ownership of business, repatriation of capital, and employment of foreign talents.

"There are also tax and financial incentives awarded to certain business enterprises," beams the business consultant.

In taxation, Singapore has among the lowest corporate and personal income taxes in Asia Pacific. For Singapore private limited companies earning a profit of up to S$300,000, the corporate tax rate is set at 8.5%. Effective 2010 year of assessment, the corporate income tax rate for companies accruing profits more than S$300,000 is set at 17%, a point lower than the previous.

When it comes to personal income tax rate, Rikvin divulges a single tier system beginning at 3.5% to 20%.

"In Singapore and with the cooperation of the private sector, the government devised programs to assist companies improve their efficiency," explains Rikvin on the city-state's financial assistance, "and strengthen their capabilities as well as explore new opportunities."

Depending on the type of business an entrepreneur has, the businesses may be entitled to business start up assistance or to establish a regional headquarters in Singapore for certain offshore corporations. Business entities can avail of grants, loans, equity financing, and tax incentives.

Companies such as Rikvin acquire extensive knowledge on the Singapore Company Act and the rules governing taxation, accounting, and payroll preparation. Before their establishment, Rikvin confessed, "they had to undergo trainings and seminars regarding the procedure on company registration, incorporation, and compliance with other requirements."

About the Publisher
Rikvin has been assisting clients from all over the globe in their Singapore immigration and company registration services. Rikvin operates to offer assistance both to local and foreign business professionals to register a Singapore company. The firm provides a complete corporate solution under one roof for which includes incorporation, opening of corporate accounts, business registration, tax, immigration related to work passes visa such as Personalised Employment Pass and compliance services in Singapore.

Our office is located at Raffles Place, in the heart of the Singapore business district. ("CBD") If you are in our neighborhood and want to discuss any aspect of our service then feel free to come in to our offices during business hours.

http://www.rikvin.com
20 Cecil Street, #14-01, Equity Plaza, Singapore 049705
Main Lines : (65) 6438 8887
Fax : (65) 6438 2436
Email : info@rikvin.com

For more information on this press release visit: http://www.releasewire.com/press-releases/release-3.htm

In Singapore, the path for obtaining a financial assistance for businessmen is not unconquerable. To help improve a company’s efficiency and strengthen its capabilities, local authorities established several programs such as equity financing, grants, tax incentives, and loans.

Equity Plaza, Singapore -- (SBWIRE) -- 11/18/2010 -- As globalization continues to characterize the way an economy should be nurtured, Singapore perpetuates its reputation being the world's best financial hub since its independence from British's colonial power.

Such is of particular truth as many of the financially-endowed businessmen in Europe are now making a business exodus, heading towards Asia, specifically to the island-state, where concepts of skyscrapers are not limited to constructing a large boat on top of three skyscrapers to express an affiliation and where a nation's proud emblem constitutes the mighty lion for a head and a wading fish tail.

Even in the neighboring Asia, many tried their knack on a business in this powerful region; and they were never disappointed. To gain understanding on why Singapore's flyers and temples such as Sri Mariamman are an attraction to people of diverse career and cultural background, Rikvin has been invited to indulge media and those who were present.

"Singapore does not waver in its anchor in the international market," says a business consultant of Rikvin in its opening statement, "its location is strategic to make east meets west and vice-versa, making it a perfect haven for business-inclined minds."

"The Port of Singapore, with its huge size and high market volume has earned a slot in the world's largest ports, paving the way for business-minded individuals to trade across borders, and thereby classifying the port as a premier international maritime center."

Even its aviation technology and capacity, Rikvin proclaimed the city-state's impressive 7-hour flight radius, enabling more than 2.8 billion people to interact, "the daily international flights from 80 airlines carry more than 15 million people to 50 countries and 180 cities a year."

The environment in Singapore is pro-business with its stable political system, strong national defense ability, and unfaltering economy foothold. Being in the industry since 1998, Rikvin, a firm that devotes its existence to serving investors as they explore business opportunities in Asia's prolific melting pot is quoted saying, "our state's first ranking on 2011 Ease of Doing Business for possessing the easiest place to do business for 5 consecutive years is evident that anybody can turn one's idea into a profitable undertaking."

In Singapore, the path for obtaining a financial assistance for businessmen is not unconquerable. To help improve a company's efficiency and strengthen its capabilities, local authorities established several programs such as equity financing, grants, tax incentives, and loans.

"There are programs that focus on business aspirants that want to start a company or local enterprise," remarked the representative of the corporate solution provider based in Singapore, aware that he had the undivided attention of everyone.

"Large global multi-national corporations seeking to have their Asian region based in Singapore can also avail a specialized financial assistance," exclaimed Rikvin in continuation.

In conclusion, Rikvin phrased its final statement with an objective of cultivating a lasting good impression on its audience, saying, "Singapore protects Intellectual Property with much conviction, gaining a high ranking on surveys conducted by the World Economic Forum, Institute for Management Development, and the Political Economic Risk Consultancy."

Finally, because it is a signatory to several major IP conventions and treaties like Paris Convention, Berne Convention, Patent Cooperation Treaty, Budapest Treaty, Madrid Protocol, World Intellectual Property Organization, and Agreement on Trade-related aspects of IP rights, Singapore, boasting the title of the world's cleanest city can file for a global trademark registration direct from its premise.

Since 1998, Rikvin, the leading Singapore Company Solutions Specialist has been providing highly professional company incorporation services, both in attractive standard packages as well as customized services. Online incorporation being a hallmark service, other services of Rikvin include Singapore Offshore Incorporation, Singapore Sole Proprietor setup, EntrePass, Singapore Employment Pass, Personalized work Pass application, GST Registration, Accounting Services, Tax Planning & Consulting, and Business Plan Drafting.

For more information on this press release visit: http://www.releasewire.com/press-releases/release-3.htm

Singapore is popular for the ease of doing business in Asia and for being the least bureaucratic place for business in Asia.

Equity Plaza, Singapore -- (SBWIRE) -- 11/18/2010 -- Singapore Incorporation firm, Rikvin unveils the ease in the part of foreign individuals and companies in terms of complying with Singapore business registration requirements. The firm also sets new standards of service delivery that reduces the usual time taken to setup and incorporate a Singapore company. Rikvin continues to work towards being an "end-to-end" solutions provider in the industry.

"By constantly delivering complete, efficient and quality pre- and post-incorporation solutions to our customers, we hope to reinforce our position as a one-stop business services and solutions provider in Singapore," Rikvin said.

Singapore is popular for the ease of doing business in Asia and for being the least bureaucratic place for business in Asia. These are Singapore's reputation that makes it an ideal location for almost any business. For this reason, Rikvin helped Singapore maintained that kind of reputation by providing ease in Singapore business registration requirements.

Rikvin even assured an efficient service in less than an hour, including incorporation, completing bank account and securing a business address. This way Rikvin is able to help the company save time in the registration process thus enabling them to focus more on critical economic activities which will sharpen their competitiveness and preparedness in engaging to its clients.

Rikvin said, "With its excellent infrastructure, regulatory transparency and strong commitment to efficiency, Singapore provides a highly conducive environment for local and international businesses to operate in. To meet the growing demands for efficiency and diverse needs of our customers, we at Rikvin Consultancy have expanded our range of services to now enable our customers to start a company in Singapore with greater convenience and in a fraction of the time."

The fast and efficient Singapore company incorporation service provided by Rikvin is in strict compliance with Accounting & Corporate Regulatory & Authority (ACRA) regulations. This kind of service is important especially in companies who are in need of urgent incorporation to have an operation-ready business, with all registration procedures completed and necessary certificates on hand, the ease in Singapore business registration will definitely be achieved. This is made possible with a direct on-line access to ACRA's business registration process. Upon request, Rikvin also goes the extra mile to assist in the opening of corporate bank accounts by arranging a meeting with a banker at their office.

For more information visit:
Rikvin PTE LTD
Address: 120 Telok Ayer Street Singapore 068589
Phone: +6564388887
Email: info@rikvin.com
Website: http://www.rikvin.com

For more information on this press release visit: http://www.releasewire.com/press-releases/release-3.htm

“Only a very few states allow 100% company shareholding among foreigners, and Singapore is among them, thereby, making the city-state as the easiest place to do business.”

Equity Plaza, Singapore -- (SBWIRE) -- 11/12/2010 -- In general, a sole proprietorship business is characterized by having one owner who holds all powers and authority over all business operations. It is also the basic of business structures.

"Though there are exceptions, anybody or any business enterprise can register a sole proprietorship in Singapore," commences Rikvin on the discussion of its nature, "and that can be said of those who hold foreign citizenship."

Individuals who are classified as un-discharged bankrupt constitute the exception clause. On the other hand, for foreign citizens aiming for a sole proprietorship, they must appoint a local manager as part of the conditions in Singapore.

"To qualify for a local manager appointment, one must either be a Singaporean citizen, a Permanent Resident of Singapore or possessing an Employment Pass, Approval-in-Principal Employment Pass or Dependent Pass," continues Rikvin, a business firm based in Singapore for the purpose of providing corporate solutions to foreign entrepreneurs and business aspirants.

Because having a working visa such as the E-Pass accords eligibility for foreign individuals and entitles them to work privileges, they, too can be appointed as a local manager.

The benefits of registering a Singapore sole proprietorship business are many.

First is the ownership.

"Only a very few states allow 100% company shareholding among foreigners," Rikvin continued its elaboration, "and Singapore is among them, thereby, making the city-state as the easiest place to do business."

Second, since the sole ownership is awarded to one person, the discretion of making decisions is reserved solely by the proprietor. Hence, at anytime he deems necessary, he can implement decisions made even hastily. Unlike in other business structures, in sole proprietorship, the direction and operation of the enterprise emanates from the owner, and this does not require approval from any other.

The same can be said of its profits. No one else will exercise authority over how the profits must be spent. In Singapore, foreigners are allowed to repatriate their earnings, which is also of benefit.

Another advantage of a sole proprietorship is the low set up costs.

"Apart from the cost, the sole proprietorship has the least risk. In Singapore, many small enterprises such as copywriters, pet groomers, small retailers, and designers started off as a single proprietorship."

Rikvin's statement about Singapore being the most business-conducive avenue is also evident even in the humblest part of the city-state, the Chinatown, wherein merchants and craftsmen from Myanmar, Philippines, China, Hong Kong, South Korea, Thailand, Vietnam, Cambodia, and Thailand proliferate in business.

Fourth, a sole proprietorship business is neither subjected to account audit nor is it obliged to file annual returns. The only thing that the business owner is required is to pay his personal income tax. However, even in taxation, a sole proprietorship is of huge advantage.

"Unlike in corporate business structures, double taxation is not imposed upon a sole proprietorship," Rikvin acknowledged, "rather, it is taxed on a personal level."

The income accrued by the owner is regarded as the same with that of his business because neither is recognized as a legal entity, but both are treated as one. In addition, depending on the earnings of a sole proprietor, the personal income tax rate in Singapore is progressive—from anywhere between 3.5% and maximum of 20%.

Nonetheless, although the sole proprietorship is the basic structure, thereby, making its registration process the easiest, a foreign investor cannot register his business on his own.

"It is in providing service for foreign entrepreneurs to facilitate in engaging business in Singapore that a company like Rikvin was created," stated Rikvin in a closure of the discussion.

Since 1998, Rikvin, the leading Singapore Company Solutions Specialist has been providing highly professional company incorporation services, both in attractive standard packages as well as customised services. Online incorporation being a hallmark service, other services of Rikvin include Singapore Offshore Incorporation, Singapore Sole Proprietor Formation, EntrePass, Singapore Employment Pass, Personalised work Pass application, GST Registration, Accounting Services, Tax Planning & Consulting, and Business Plan Drafting.

For more information, visit:

Rikvin Pte Ltd
http://www.rikvin.com/
20 Cecil Street, #14-01, Equity Plaza, Singapore 049705
Main Lines : 6564388887
Fax : 6564382436
Email: info@rikvin.com

For more information on this press release visit: http://www.releasewire.com/press-releases/release-3.htm

“It makes doing business more precise, organized, and convenient knowing that they can stay offshore while everything, from registration of a business to its setup and processing of necessary work visas and business permits are accomplished by someone else in Singapore.”

Singapore -- (SBWIRE) -- 11/11/2010 -- For foreigners, the best way to understand why Singapore is considered the the best investment hub to grow their business is to experience it first hand.

"First, they decide which type of establishment foreigners may want to set up," beams Rikvin, a firm that provides professional business services to foreigners in starting a company in Singapore and which has been the guest of honor in today's discussion.

"Among the choices are a representative office, a subsidiary, or a branch, depending on their needs."

A representative is temporary. Its main function is to conduct a market research to help a business investor decide the best niche for his business.

"The longest that a representative office can stay is 3 years," adds Rikvins, "and within that span of time, the staff must have assessed the business opportunities for them."

After that, an investor must move forward to developing the office into a full-blown company or close it and go back to their native land.

"Nonetheless, it is a rare case for a representative office to dissolve in Singapore as it is Asia's best environment for doing business," Rikvin continues, "on the other hand, they are prohibited from engaging in profit-yielding activities."

Nor can a representative office enter into any contract, lease a warehouse or open a Letter of Credit.

For best results, most foreigners engage the services of business firms such as Rikvin in processing the Employment Pass and registering the office with the Company Registrar without the need to be physically present at the city-state until when everything is ready for its operation.

A branch office is suggestive of its title.

Rikvin, saying it must bear the name of its parent company, says that there should also be 2 staff members who can either be a resident of Singapore or foreign individuals who shall act as agents and support the branch's administration.

In Singapore, a branch office is considered an extension of the parent company. Thus, it is not entitled to have a separate legal identity. In addition, its Memorandum and Articles of Association, which are mandatory, should contain the specific activities of the company and which must be directed by the parent company.

And just like in establishing a representative office, it is best to hire a company that shall carry out the necessary procedure as this saves time and financial resources. Included in employing the services of that company is the process for obtaining a working visa in case a foreign investor or its appointee wishes to relocate to Singapore.

Rikvin has something important to say of this.

"It makes doing business more precise, organized, and convenient knowing that they can stay offshore while everything, from registration of a business to its setup and processing of necessary work visas and business permits are accomplished by someone else in Singapore."

It also hastens the approval of registration as business firms such as Rikvin are adept on the procedure.

Moving forward, a subsidiary company is an auxiliary unit of the parent company, but has a legal status separate from its parent. Here, the foreign individuals can own 100% of the company's shareholding, while the subsidiary's liability is limited to its value of shares ascribed to it.

Rikvin declares that in each distinct process of incorporating a company in Singapore, certain conditions must be met. For one thing, a sole proprietorship business must appoint a local manager. Both the subsidiary and the branch office should also appoint a local resident director, for another.

To elaborate, Rikvin further says, "The local manager and resident director must either be a Singaporean citizen, Permanent Resident or a Pass holder of an Employment, Entrepreneur, or Dependent."

Nevertheless, for the sake of complying with such requirement, foreign individuals can employ the Nominee Director Service of a separate company like Rikvin.

"Rikvin can satisfy that requirement and it is legal," says a representative of the company in conclusion, "in fact, it is found to be convenient among foreigners as it makes doing business in Singapore less complicated and more fruitful."

Since 1998, Rikvin, the leading Singapore Company Solutions Specialist has been providing highly professional company incorporation services, both in attractive standard packages as well as customised services. Online incorporation being a hallmark service, other services of Rikvin include Singapore Offshore Incorporation, Singapore Sole Proprietor setup, EntrePass, Singapore Employment Pass, Personalised work Pass application, GST Registration, Accounting Services, Tax Planning & Consulting, and Business Plan Drafting.

Rikvin Pte Ltd
http://www.rikvin.com/
20 Cecil Street, #14-01, Equity Plaza, Singapore 049705
Main Lines : (65) 6438 8887
Fax : (65) 6438 2436
Email: info@rikvin.com

For more information on this press release visit: http://www.releasewire.com/press-releases/release-3.htm