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Virtual CFO Services in Singapore

Virtual CFO Services in Singapore

Updated on Saturday 29th October 2016

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Virtual-CFO-services-in-SingaporeOpening a company is quite simple in Singapore, which is why many foreign investors come here. However, once this part is over, the owner will have new challenges, such as hiring employees who will run the business in a competent manner. When referring to running a business, one will automatically think about the management of the Singapore company. An important part of this management is conducted by the accounting department which is headed by the Chief Financial Officer (CFO). As new solutions are sought all the time in order to streamline the accounting department’s work, in Singapore a business owner can now benefit from virtual CFO services.

Our attorneys in Singapore can assist you in registering a company in the city-state.

Hiring an accountant or a virtual CFO in Singapore?

The role of a virtual CFO can be carried by a chartered accountant or a company providing accounting services in Singapore. Most shareholders must think of the best option when nominating the person in charge with the accounting of the company, as this one of the most important parts of a business.

While having its own CFO can ensure total commitment from the person occupying this position, hiring a company offering virtual CFO services in Singapore could seem a more expensive option. However, one must think how many other individuals they must hire in order to help the CFO and the costs associated with these employees (salaries and social security). Another advantage of hiring a Singapore virtual CFO is having dedicated professionals handling one company’s financial matters.

Our lawyers in Singapore can offer more information on the advantages of requesting virtual CFO services.

Virtual CFO services available in Singapore

Foreign investors opening companies in Singapore will be provided with the following virtual CFO services:

  • -          bookkeeping;
  • -          maintenance of all financial records, in accordance with the legal requirements;
  • -          preparing financial statements, as prescribed by the law;
  • -          drafting financial reports as requested by the management.

Foreign investors should also know that they can also rely on a Singapore virtual CFO for financial risk assessments and tailored business planning solutions.

For complete information on the virtual CFO services available in the city-state, please contact our law firm in Singapore.

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