PLCO – BEST SOLUTIONS FOR GROWING BUSINESSES
In an ever-changing landscape of technological advancement and rising costs, it is indeed a paradoxical race against time to stay competitive amidst the heightened compliance settings imposed by our regulatory authorities – Monetary Authority of Singapore (MAS) and Accounting and Corporate Regulatory Authority (ACRA).
The implementation of Ethics Pronouncement (EP) 200 to combat Money Laundering (AML) and the Financing of Terrorism activities (CFT) poses new challenges for business owners.
Banks no longer conduct detailed background checks alone but this responsibility is passed on to the Registered Filing Agent (RFA) who has to ensure that a start-up declares any Beneficial Owner(s) who is/are not listed as Shareholder/Director of a specific company. In addition, there is also a need to declare if the Beneficial Owners(s) is/are related to any Politically Exposed Person (PEP).
Small businesses that have an annual turnover of SGD 10 million must undergo compulsory audit, in contrast to SGD 5 million previously set by the government. This measure allows the government to concentrate their resources on larger entities, which are more prone to the effects of AML/CFT and lack of corporate governance.
We understand that business owners are concerned about profit and expansion of their businesses. However, we also recognize that it is vital to comply with the heightened statutory requirements concerning the annual filing declaration of your financial statements and income.
How will PLCO assist me in my businesses?
We will assist you in all aspects of regulatory compliance for your Singapore setup company. This allows you to concentrate on other aspects of your business, with a peace of mind!
Why choose us?
We are seasoned professionals in the field, possessing in-depth fundamentals and technical knowledge of the Singapore Financial Reporting Standards (SFRS). We will be solely responsible for your financial preparation that comes with a competitive pricing, thus giving you an edge over others in compliance costing.
Sign up with us for a free consultation today!