For any company in Singapore, establishing a corporate bank account is a fundamental step. It’s the bedrock of your financial operations, essential for managing payments, receiving revenue, and maintaining a clear separation between business and personal finances. While the process might seem as simple as filling out a few forms, it involves strict compliance and [...]
Every company incorporated in Singapore is legally required to have a registered office address within the country. This address serves as the official point of contact for all formal communications and notices. Understanding the requirements and options for your registered office is a crucial step in ensuring your company's compliance with Singaporean law. This guide [...]
In the complex landscape of mergers and acquisitions (M&A) in Singapore, various parties play crucial roles to ensure a smooth and legally compliant transaction. While lawyers, financial advisors, and accountants are often at the forefront, the corporate secretary holds a vital, albeit sometimes less visible, position throughout the M&A process. Their expertise in corporate governance [...]
Financial statements are more than just a collection of numbers; they are the narrative of your company's financial health and performance. For business owners, managers, investors, and other stakeholders in Singapore, understanding how to read and interpret these statements is fundamental to making informed decisions, assessing performance, and ensuring compliance with regulatory requirements. In Singapore, [...]
The role of a corporate secretary has traditionally been associated with meticulous record-keeping, navigating complex legal documents, and ensuring strict adherence to statutory deadlines. While these core responsibilities remain vital, technology is rapidly transforming how corporate secretarial services are delivered and the value they bring to businesses in Singapore. The era of physical registers, stacks [...]
Maintaining a successful business in Singapore involves navigating a range of administrative, compliance, and financial responsibilities. From the initial stages of incorporation to ongoing accounting, tax, and corporate secretarial duties, the sheer volume of tasks can be overwhelming, particularly for busy entrepreneurs and growing Small and Medium Enterprises (SMEs). This is where the concept and [...]
Singapore, a thriving business hub, presents numerous opportunities for growth. However, managing the administrative aspects of running a business, such as payroll processing, can be complex and time-consuming. For many companies, particularly Small and Medium Enterprises (SMEs), outsourcing payroll has become a strategic decision that offers significant benefits. Payroll involves more than just calculating salaries; [...]
Owning and operating a Small and Medium Enterprise (SME) in Singapore requires careful financial management. A crucial aspect of this is securing adequate financing to fund operations, support growth, and navigate challenges. Fortunately, SMEs in Singapore have access to a diverse range of financing options, each with its own characteristics and suitability depending on the [...]
Singapore, a bustling hub of commerce and innovation, thrives on a competitive marketplace. To ensure fair play and prevent anti-competitive practices that could harm consumers and businesses, the nation has a robust legal framework in place: the Competition Act 2004 (Cap. 50B). Understanding the fundamental principles of this law is not just good practice for [...]
Understanding which business expenses are tax deductible is crucial for accurate tax reporting and minimising your company's tax liability in Singapore. While many costs incurred in the course of running a business are deductible, the Inland Revenue Authority of Singapore (IRAS) has specific rules outlining expenses that cannot be claimed against your income. Knowing these [...]