Time flies, it is end of 2020!
This year is an ‘Unusual’ year for TASSURE ASIA and all our clients. We experienced not only unprecedented changes in social, economic and world patterns, but also the changes in our daily and social life. On the other side, it gives us some time to slow down, to reflect on our past work and life pattern, as well as communication and relationship among the people in our life.
We also can feel how the importance of technology brings to our work and life. The big improvement of technology development causes us to fulfill our work and tasks in an efficient way, so we can enjoy more time to get in touch with people, family and friends, achieve mutual achievement with clients. The relationship between TASSURE ASIA’s team and clients also getting closer and stronger.
Our team has fully compliance with government direction and made some precautions and changes during this pandemic period in different phases to better serve all our clients and partners, with safe management policies in place, we have the determination to keep all around us safe, meanwhile we can have our business growth in a healthy and long terms way. These includes,
- Improvement of communication both internally and with clients; we try our best to keep improving on work delivery as soonest as possible and keep the high standard of quality as well by conducting more internal online training and use different ways of communication with clients (email, phone, WeChat, WhatsApp)
- Change of our office hours, now our working hours keeps from 10am to 7pm from Monday to Friday; Every client has to scan before entering our office
- Rotation work from home of our two teams, stricter safe management policies in place in office including masks wearing and temperature scanning 2 times a day and so on
And there is always a lot memory for Year 2020. Hopefully all enterprises and all of us take this Special period as an opportunity, to do more to strengthen the existing foundation internally and collaborate with more partners and explore more business sectors to expand the business or transform the company. There is always a Solution.
To better deliver our message to our clients, we have officially opened our WeChat platform and continue doing monthly sharing with you of any updates and important announcement from government department. We aim to support you on your business matters along the way.
Major subsidies of Singapore Government
By taking this opportunity, TASSURE ASIA has summarised major subsidies of the Singapore government in this one article for your reference. Some companies have already been supported and benefited from some schemes and hopefully with some extra government support, all business can pull through and conquer the disaster together!
If you have any queries or clarification needed, you can check through the website link to contact the officer or contact us:
1. JOBS SUPPORT SCHEME (JSS)
The JSS launched on February 2020, provides wage support to employers to help them retain their local employees (Singapore Citizens and Permanent Residents). They wage payout is disbursed on April 2020, May 2020 and July 2020. It was announced by Singapore government the JSS extended to March 2021. The beneficiary employers should have already received the additional government subsidies in Oct 2020, will receive another two additional government subsidies in March 2021 and June 2021. This also includes company directors and shareholders (annual income does not exceed S$100,000 for year 2019), the government will automatically calculate and disburse to the company based on your company’s provident fund payment records. TASSURE ASIA also warmly reminds that the company and directors need to bear the corresponding responsibilities and obligations, keep the salary records and document support well, and to avoid being checked and fines or even more serious consequences from government agencies.
Reference link: https://www.iras.gov.sg/irashome/schemes/businesses/jobs-support-scheme–JSS-/
2. SIRS – Self-employed person income relief scheme (SIRS)
Eligible Self-Employed-Person (SEP) could receive S$3000 cash payout quarterly. It would be closed by 31 December 2020.
Reference link: https://www.mom.gov.sg/newsroom/press-releases/2020/0406-about-100000-expected-to-automatically-benefit-from-enhanced-sirs
3. SGUnited Skills Programme
The SGUnited Skills programme is a full-time training programme ranging from six to 12 months. Trainees will also receive a training allowance of $1,200 per month for the duration of the programme, to cover basic subsistence expenses.
- Singapore citizens and permanent residents of mid-term job seekers who are affected by COVID-19 and have two or more years of work experience.
The plan does not include the following Singapore citizens and permanent residents:
- graduate from information technology colleges, polytechnics, universities and other educational institutions in the 2019/2020 calendar year; or.
- The above colleges and universities graduated earlier and completed national service in 2019 or 2020.
Reference link: https://www.myskillsfuture.sg/content/portal/en/career-resources/career-resources/education-career-personal-development/sgunited-skills.html
4. SGUnited Traineeships Programme
Singapore Citizen or Permanent Resident; and Graduated or graduating in calendar year 2019 or 2020 from ITEs, polytechnics, universities, or other educational institutions (e.g. private universities and overseas institutions); or Graduated earlier from above institutions and completed National Service 2019 or 2020 can obtain training opportunities to increase their employment opportunities.
Download handbook: https://www.wsg.gov.sg/content/dam/ssg-wsg/wsg/sg-united/Workforce%20SG_A4%20flyer%20(Chinese)-r6.pdf
Reference link: https://www.supportgowhere.gov.sg/
5. SME Go Digital Business Grant
If the company is registered and established in Singapore with at least 30% of the local shareholding, the company or group’s annual sales in the most recent year does not exceed S$100 million, or the total number of employees in the group does not exceed 200, you are eligible to apply about the various subsidies launched by IMDA to help your company gradually digitize, you can refer to the official website to find suitable subsidies and find suitable suppliers.
Reference link: https://www.imda.gov.sg/SMEsGoDigital
Introduction of Business Development Support Service
In this special year, the government and other organizations have also assisted self-employed people and enterprises to tide over difficulties, including various loans and rent subsidies at low interest rates, in a variety of ways. In order to better assist more small and medium-sized enterprises, TASSURE ASIA also strengthened the process of strategic cooperation with various banks, financial institutions and lawyer teams this year. We hope we could provide better support to enterprises that in needs and in business development.
1. Bank account opening
Starting from the end of 2020, the requirements and due diligence for opening a bank account will be more stringent especially for foreigner owned company. Our team members will only arrange bank opening after carrying out preliminary review based on company’s specific situation and to match with appropriate bank managers in different banks.
2. Loan and financing support
Regarding corporate loans, whether it is real estate or corporate financing, our team could recommend relevant bank manager of your favourite bank.
we also proud to announce that we are launching our new SME Financing service in partnership with BLUECELL (https://bluecell.sg), an online centralised lending platform to connect SMEs to multiple Lending Institutions
Related Article: https://bluecell.sg/sme-financing-made-easy-a-guide-for-businesses-in-singapore/
These are facilities meant to serve your short term and long term cashflow needs such as:
- Term loans – for your working capital needs
- Invoice/receivables financing – to cash out an invoice without having to wait to be paid
- Trade/Payables financing – to purchase goods to fulfil an order and negotiate for a better term
- Mortgage financing – Refinance your mortgage or cash out your existing property for additional working capital
With BLUECELL and broad reach of lenders, not only will be able to source for financing that better suits your needs, BLUECELL will also be able to secure a wider, superior range of packages for you to choose from.
BLUECELL’s management and team for assisting our clients to solve their financing needs and establish more value-added services and special offers to us. If you are interested in BLUECELL services, you may contact the relevant person in charge directly (Shawn +65 9488 0420; Vince +65 9326 0091) by provide TASSURE’s exclusive discount code. Thanks to BLUECELL provide our clients with special offers on loans and related services:
3. Wealth management and lawyer services
Any other business development and needs related to your business or personnel, such as family office, trust setup, 13R, 13X, wealth management (including employee benefits, etc.), self-employed immigration, asset allocation and will services, etc. We and our strategic lawyers are very willing to discuss and create your new business sector with you! You are always welcomed to make appointment with us for a free assessment and understanding more for all our Private Clients services.
Never think of the past and never be afraid of the future
TASSURE ASIA believes that all our directors and employees always to use our experience, knowledge, ability, resources and actions to continuously provide our business and services, and work with everyone to maintain your company’s legal compliance requirements and business development. While we continue to grow, we would not forget our original intention, maintain consistent service standards and improvement.
Last but not least, TASSURE ASIA always conveys ” Never think of the past and never be afraid of the future “, our team upholds the creed of reliability, honesty, precision, and strictness and our values. We look forward to working with you in the existing and new cooperation. TASSURE ASIA will continue to provide you with one-stop corporate services and be your trusted business partner. Another fresh new year is here, another year to live and let’s welcome to 2021 together! This is a new year, a new beginning! A very Happy New Year!!