The Singapore government has always been supportive of start-up companies and has many schemes to support entrepreneurship. One of the ways which they have been assisting new start-up companies is by providing tax reliefs. Let us focus on Year of Assessment 2019 and 2020. Year of Assessment 2019 (YA 2019) This is for financial years [...]
The Company Constitution is a set of document that sets out the rules and manner in which the company is being regulated and managed. In the past, this was referred to as the Memorandum of Association and Articles of Association. Since 3rd January 2016, these two documents have been merged into the Company Constitution. In [...]
Upon incorporation of a Singapore company, it is mandatory to appoint a company secretary within six months of incorporation. The secretary post should also not be left vacant for more than six months. Companies can choose to hire an in-house secretary or appoint a corporate service provider to fulfil this position. Here is a breakdown [...]
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 [...]