Non-profit organizations in Singapore have the option to operate as a Public Company Limited by Guarantee (CLG). If you're considering registering your organization as a CLG, this guide will help you understand the necessary steps and determine if it's the right choice for you. Choosing the Optimal Structure for Your Company A critical, yet [...]
Introduction In Singapore, filing annual returns is not optional. Under the Companies Act, every locally incorporated company must keep its particulars up to date on ACRA’s register by submitting an annual return. The annual return confirms details such as the company’s officers, shareholders, share capital, and financial statements, and indicates the date of the company’s [...]
Running a business in Singapore comes with stringent compliance requirements, primarily governed by the Companies Act 1967. One of the most critical annual obligations is the preparation and filing of financial statements. However, business cycles fluctuate. Sometimes, a company may be inactive, effectively "sleeping" or dormant. In such cases, the law provides relief from certain [...]
When founders and investors discuss “ownership” in a Singapore company, they’re often talking about different things without realising it. With ordinary shares, the conversation is usually straightforward. But once preference shares enter the picture, the question becomes: Do preference shares count as part of the company’s total share capital? Are preference shares included when calculating [...]
Introduction The Companies Act 1967 requires every Singapore company to appoint a corporate secretary within six months of incorporation. Beyond being a statutory requirement, the company secretary plays a pivotal role in keeping your business compliant, organised and accountable to stakeholders. Their responsibilities go far beyond administrative tasks; they support the board, protect shareholder interests [...]
In Singapore’s competitive business environment, ensuring statutory compliance and corporate governance is critical. Many companies outsource their corporate secretarial function, but choosing the right corporate secretarial service provider is essential to ensure accuracy, reliability and support for your business needs. Why outsourcing your company secretarial role matters The role of a corporate secretary goes well [...]
Singapore's dynamic business landscape is governed by strict statutory and governance requirements. Among the key appointments mandated under the Companies Act 1967 is the company or corporate secretary. Many entrepreneurs overlook the significance of this role until compliance deadlines loom. In this article, we explain what a corporate secretary in Singapore does, the legal obligations around [...]
Goods and Services Tax (GST) is a fundamental component of Singapore's tax system. For business owners, the question is not if they will have to deal with GST, but when and how. The decision to register for GST is a significant milestone, with two distinct paths available: compulsory registration, which is a legal requirement, and [...]
In today's digital-first economy, your company's accounting data is one of its most valuable and vulnerable assets. From payroll details and revenue figures to client information and supplier contracts, these digital records are a goldmine for cybercriminals. With the increasing adoption of cloud accounting platforms, the convenience of access must be balanced with robust security [...]
Proper record-keeping is a cornerstone of good corporate governance and financial hygiene. For businesses in Singapore, it’s not just a best practice—it's a legal obligation with specific timelines dictated by the authorities. But with piles of invoices, receipts, and bank statements, many business owners are left wondering: exactly how long do these documents need to [...]