There are many steps to set up a company in Singapore. One of the company types is a sole proprietor. You will need to register the company with the ACRA, the government agency that oversees businesses that are incorporated in Singapore. To make sure that your company is incorporated properly, you will need to check … Read more
A company secretary is a key member of the management team, and their job is to ensure that the company follows all legal requirements. In addition to being a knowledgeable resource for company law, a company secretary must prepare all director reports and accounts. They also correspond with shareholders, deal with transfers of shares, and … Read more
Whether you are looking to set up a new business or move your existing company over to Singapore, there are many reasons to choose this location. This article will give you reasons why Singapore is the best place for your company formation. What is a company formation? A company formation is a process of establishing … Read more
What Is Sole Proprietorship Registration? A Sole Proprietorship in Singapore is the simplest form of business entity that is owned by only one owner. The company owner has absolute authority and responsibility for all assets and liabilities belonging to the business. There is no legal difference between the owner and the business entity, for example, … Read more
What is a Partnership? In Singapore, a partnership is similar to sole-proprietor. It is the simplest form of business entity owned by at least 2 to a maximum of 20 partners who have shared authority and responsibility for all assets and liabilities belonging to the business. There is no legal difference between the partners and the … Read more
What is a Singapore Limited Liability Partnership? A Singapore Limited Liability Partnership (LLP) provides entrepreneurs a fuss-free setup as of a partnership with features when going through the process to register a private limited company in Singapore. Partners in the Singapore Limited Liability Partnership can operate their Singapore business as a partnership while having the advantage of … Read more
Why Do Companies Need To Comply With ACRA? Private Limited Companies in Singapore need to stringently follow all of Accounting and Corporate Regulatory Authority (ACRA) regulations, in order to avoid being penalized. ACRA is the main governing body for business entities and corporate activities in Singapore, and will periodically make slight changes to the regulations … Read more
What Is A Company Secretary? Under Section 171 of the Companies Act, all companies in Singapore are required to appoint a corporate secretary within 6 months of incorporation. This includes foreigners who have just set up a company in Singapore. The Secretary appointed by the Company is responsible for ensuring that the Company is in … Read more
How To Determine FYE For The Company The Financial Year End (FYE) of a company refers to the end of the company’s accounting period, normally recurring every 12 months. A company’s FYE does not necessarily need to fall on 31 December, and can actually fall on any day within the year. The First FYE for … Read more