There are two methods for a previously struck-off company to be restored to the register of companies. They are: a) By way of an application to the Court under s 344(5) of the Companies Act 1967 (CA); or b)By way of an application for administrative restoration under s 344D CA a) By way of [...]
Singapore is coming down hard on money laundering and terrorism financing activities. Every Singapore company should have processes in place to deal with such matters. Every company should have an anti-money laundering framework in place. Creating an Anti-Money Laundering (AML) framework for a Singapore company involves a series of steps to ensure compliance with [...]
This is a question that is posed to us rather often. In typical limited companies, there will be shareholders. The liability of the shareholders is the amount of paid up capital that they have put into the company. For example, if a person buys 1000 shares of a company for $1000, then the company's paid [...]
Companies are free to change their registered address. The company's registered address may be different from its operating address. For example, a company dealing with supplying raw goods may be operating out of a warehouse or an industrial site. They may not want official letters delivered to that operating address. They may have a headquarters [...]
Recently we have had a few clients coming to us to tell us that since their company receives income from overseas and their goods do not come into Singapore, the income that the company earns does not attract income tax in Singapore. When I ask them for where they get this information, they bring me [...]
Foreign income refers to earnings generated from outside Singapore. Typically, this income is subject to taxation in Singapore when it is remitted and received in the country. If the foreign income is generated from a trade or business conducted in Singapore, it is taxable upon accrual, regardless of whether it is physically received in Singapore. [...]
There are many reasons why some companies may choose to use a virtual office. Some people may conflate it with registered office service. A registered office service alone means that a company uses the office address of a service provider, usually the corporate service provider, to fulfil the statutory requirement that every Singapore registered company [...]
The Startup SG Founder (SSGF) Programme is a grant for first time entrepreneurs. It helps them to start their business by providing mentorship and financial support. The SSGF will provide two forms of support. 1) A start up grant 2) Mentorship from Accredited Mentor Partners (AMPs) The mentorship includes pitch training, network opportunities with investors [...]
A company may alter its share capital. This is provided for in section 71(1) of the Companies Act. Section 71(1) of the Companies Act states: Subject to subsections (1B) and (1C), a company, if so authorised by its constitution, may in general meeting alter its share capital in any one or more of the following ways: [...]
So you are running a Singapore company. You need a summary of what you need to file so that the company is compliant with the local regulations. In short, there are 3 types of filings that you need to remember when you are running a Singapore Company. Annual Returns Estimated Chargeable Income (ECI) Income Tax [...]