Category: Company Secretarial Services

New requirements under the Corporate Registers On 4 October 2022, Singapore Accounting and Corporate Regulatory Authority (ACRA) implemented new requirements for strengthening its corporate governance regime supporting Singapore’s commitment to combating money laundering, terrorism financing, and other threats to financial system integrity. These updates were made following the passage of the Corporate Registers (Miscellaneous Amendments)…
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Guidance to carry out Financial Reporting Duties for Singapore Companies Strong and vibrant markets are dependent on high-quality financial information. Financial statements are becoming increasingly important as investors, suppliers, financial institutions, customers, company directors, and corporate executives seek to better understand the business. In recent years, the business environment has also become more complex and…
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Singapore Companies must file Annual Returns All companies, including public corporations, not-for-profit companies, and private companies, by Singapore law, must file annual returns (ARs) once every year. Remember that an Annual Returns is not a financial document. Instead, it’s an electronic record of publicly accessible information about your company at ACRA. That information, includes your…
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Singapore Government uses BizFile+, a business filing electronic portal of ACRA. This is made available so that businesses can interact with other government agencies. The key purpose of BizFile+ is to provide an easy way of submitting statutory filings online to ACRA. For most Singapore entities, the company secretary has access to this e-portal to…
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What is AGM? Annual General Meeting (AGM) refers to how a company presents the SFRS financial statements to the members or shareholders. During this point, the shareholders have the right to ask questions about the business’s health. Therefore, an AGM is important as it is an effective opportunity to address the company’s concerns right on…
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A company secretary in Singapore has the following duties and responsibilities: 1. ACRA Compliance Alert and Reminders A company secretary informs you of the filing deadlines as well as ACRA’s annual compliance matters in a very timely fashion. 2. Company Seal A company secretary makes sure the safe custody and appropriate use of the company…
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Compulsory to file Registers Of Registrable Controllers information With effect from 30 July 2020, the Accounting and Corporate Regulatory Authority (ACRA) requires all companies, foreign companies and limited liability partnerships (LLPs) to lodge the Registers Of Registrable Controllers (RORC) information. This is part of ACRA’s ongoing efforts to uphold Singapore’s reputation as a trusted financial…
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Singapore Companies Must Report Business’ Ownership All Company secretaries must submit the Register for Registrable Controllers to the ACRA. For the past years, ACRA requires all companies operating in Singapore to maintain this register and update it on a regular basis. For those business owners who are not aware of the requisites of the Register…
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Ultimate Guide to Registering Your Company in Singapore Singapore has a stable political and economic standing. These are the primary reasons why a considerable number of Singaporeans and foreigners prefer to set up their businesses in Singapore. These entrepreneurs benefit from the multi-pronged stability of Singapore to start a venture and enjoy its pro-business setting.…
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Dear Clients, This is to remind you that Singapore companies are required to lodge statutory filings as required by the Singapore Companies Act with ACRA. Singapore companies are due to hold its Annual General Meeting (AGM) within six (6) months from the preceding financial year and to file AR (within one month after the date of…
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Registering your company in Singapore is not enough to start doing business in it. There is a long process that needs to be done before a company is ready to start doing business in Singapore such as applying for work passes, hiring, looking for a place to set up your office and tasks related to…
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From the tax scheme and legal liability perspective, business owners should consider converting the sole proprietorship business into a Private Limited company in Singapore. Below are the factors to consider: 1. Tax Exemptions and Tax Rebates for the Company Private Limited companies enjoy the headline tax rate of 17%, tax exemption schemes, tax incentives and corporate tax…
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There are many reasons to set up a foreign business in Singapore. You’ll feel like golden doors are open to making life easy for your corporation or business coming from anywhere in the world. Highly rated among many individuals and businesses, Singapore is an all-around business-friendly city. Modern high-rises and plenty of opportunities, Singapore is a…
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Small and medium enterprises (SMEs) are the modern equivalent of industries during the colonial period in Europe, leading the world in innovation, products, marketing strategies and prices. The world, however, isn’t especially kind to newly started SMEs, with bigwigs in each industry putting their best efforts in stopping new competitors in their tracks. We offer…
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