No. S Pass and Work Permit holders need to adhere to very strict employment guidelines with the Ministry of Manpower (MOM) and they are not allowed to manage any business in Singapore. They are not allowed to be sole-proprietors, partners or directors of any Singapore-registered company. If they are caught doing so, they will have [...]
Tax filing season is here and for some companies, that means looking for a third party with the relevant expertise to file the company's corporate taxes with the Inland Revenue Authority of Singapore. Here is a step by step guide on how to authorise a third party entity to file your corporate tax. Note: You [...]
From time to time, a Singapore company may want to change its company address. The company may move to another location for a variety of reasons. If your company would like to effect a change of address, here is what you need to do. The board will first decide on the change in address The [...]
A common query which we get is from clients looking to change company name. Even after incorporation, the name of a company can be changed. There can be a variety of reasons why a company would want to change its name. The new name could be a better representation of the business or it could [...]
There are times when a company may want to increase its share capital. Increasing share capital is essentially selling newly issued shares to existing or new shareholders in exchange for investment capital. A company may also issue new shares to reward its employees or to give them a stake in the company so that they [...]
The Register of Controllers is a mandatory register for all companies. It lists all registrable controllers of the company. This requirement was made mandatory from 31st March 2017 onwards. These registers are to be kept at the company's registered office or at the office of the corporate secretary. They can be in hard or soft [...]
In Singapore, a company can make dividend payments only if it is making a profit. Dividend payments are recommended by directors of a company and will be voted on and approved by shareholders at the company's Annual General Meeting (AGM). Once these dividend payments receive the required number of votes and are approved, they are [...]
Many businesses involve the importing and exporting of goods. Here is a general guide for anyone out there who would like to get into the trading business. Step 1: Register for a company and activate a Customs Account You will need an entity to engage in import and export activities in Singapore. You can register [...]
Excise Duty or Excise Tax is a type of tax charged on goods produced within the country. It is a tax levied on the production or sale of a good. Not to be confused with Customs Duty which is tax paid when importing a certain good, Excise Duty is paid when producing a good. So for [...]
Customs Duty is the tax imposed on imports and exports of goods. Some businesses in Singapore may be involved with the import and export of certain goods. All goods imported into Singapore are regulated under the following acts: The Customs Act The Goods and Services Tax (GST) Act The Regulation of Imports and Exports Act [...]