Expanding into Singapore at the height of COVID-19

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About the client

Arctex Holding is a subsidiary of a global group of companies which deals with used and vintage clothing, as well as recycling of textiles. In 2020, the group operated in Japan, the United States and Europe. For CEO Mr Takayuki Wakisaka, the natural next step was to expand into Southeast Asia by setting up an office in Singapore due to the business-friendly environment and low tax rates.

Mr Takayuki Wakisaka, CEO Arctex Group

Struggling to expand to Singapore during the pandemic

However, COVID-19 struck that year. At the height of the global pandemic in 2020, it was impossible to travel to Singapore. In addition, Takayuki could not keep up with the rules and regulations, which were constantly changing and confusing for foreigners. Under such circumstances, he reached out to several local firms for help in February 2020. However, they were all unable to provide clear answers.

We were not sure whether to move forward, and almost gave up until an employee referred us to Jaslin san in June 2020, four months later,” says Takayuki. “Unlike the other vendors we spoke to, she gave a clear picture of the steps and the entire process was easy. We completed the incorporation quickly within a month.”

Focusing on business with a peace of mind

Besides incorporation, Takayuki also engaged Advenz for accounting services, which would allow him to focus on growing the business. “They clear many obstacles for us, are very efficient, and always give good reminders. Working with Advenz is almost like having an in-house accountant who cares!”

Going above and beyond

Jaslin san and her team also care for the clients. I remember the time when I flew to Singapore on a flight that arrived at midnight. Even though it was very late at night, they were waiting for my message to confirm that I have entered Singapore safely and without difficulties,” says Takayuki. “While I was under the 14-day Stay Home Notice (SHN), they also took care of the little things and even sent food to my hotel!”

In addition, as he and his wife were both vaccinated in the United States, they needed help to obtain digital vaccine certificates to enter Singapore. Despite this being out of the work scope, Advenz was able to support with the paperwork and smooth over difficulties along the way. “The big and little things matter. Jaslin san and her team takes care of us and the business. You can’t ask for anything better.”

If you’re a foreign company looking to setup in Singapore, free yourself from having to keep updated on local rules and regulations. Advenz can provide expert advice on the most suitable corporate structure for your business, and guide you along the incorporation process with ease.