To answer this question, we will need to know the tax rates and we will also need to set a few assumptions. Here is the Singapore Resident Tax Rate: Singapore has a flat rate of 17% for Corporate Taxes. Here are some Common Tax Reliefs for companies. You should be familiar [...]
The term dormant company has a different meaning for both the Inland Revenue Authority of Singapore (IRAS) and the Accounting and Corporate Regulatory Authority of Singapore (ACRA). IRAS defines a dormant company as a company having no revenue during the financial period. The company may still be dormant even though it has incurred expenses. ACRA [...]
Certain companies may decide to close down for a variety of reasons. These companies may have ceased business and the shareholders and directors may decide that they would like to close down the company. Some other reasons might include unprofitability of business, the retirement of key personnel and disagreements among key members in the company. [...]
Here are the steps to incorporating a Singapore Company. It will take approximately 1 to 2 days to incorporate a Singapore Company. If you are a Singaporean or Singapore Permanent Resident who is living in Singapore and will be the sole director and shareholder of the proposed Singapore Company, the timeframe to incorporate can be [...]
The answer is yes. Since 10th June 2003, the Home Office Scheme allows businesses, be it sole proprietors, partnerships or companies, to use their residential address as the registered business address. If you are living in a Housing and Development Board (HDB) flat, you will need to obtain prior approval from the HDB and if [...]
Dividends are the distribution of a company's profits to its shareholders. The shareholders are the owners of the company and they subscribed to the shares of the company. Dividends can only be paid if the company has profits. Paying dividends when a company has no profits is illegal. If a director of a company approves the [...]
From our understanding of the question posed, the question is about purchasing shares in a Singapore company. We have broken down the answer into two sections. We will discuss purchasing all the shares of a Singapore company as well as purchasing part of the total shares of a Singapore company. Purchasing all the shares [...]
In Singapore, every company has to have at least one director. In some cases, a company can have more than one director and this is very common. Every company requires at least one of the director to be a resident director. A resident director is a director whose normal place of residence is in Singapore. [...]
Singapore is one of the most convenient places in the world to set up a company. If all the documentation is complete, a company can be set up in less than a day. Once a company is set up, the responsibility is placed on the directors to adhere to the constitution of the company and [...]
A charge is a form of a security interest that a company puts to a lender or creditor to secure repayment of a loan. There are fixed and floating charges. A fixed charge is a charge on secured assets. These may be charges on things like property, machinery, shares. A floating charge is a charge [...]