Tell us a little bit about your company Nimbus Design is a branding and design company, both online and offline. We also provide marketing. Our team has experience working in Singapore and USA. Since our founding in 1999, we have established ourselves in F&B, retail, and heavy industry. Tell us a little bit [...]
Key Legislative Amendments Taking Effect for companies with FYEs ending on and after 31 August 2018 In March 2017, Parliament passed the Companies (Amendment) Bill 2017. Some of these amendments which aim to reduce the regulatory burden for companies will be taking effect from 31 August 2018. We are writing to you as the new [...]
A company director Lawrence Fong Kok Liang has been fined a record SGD$57,000 for 38 charges. Fong had failed to hold the annual general meeting and failed to file the annual returns of 19 companies. Fong had been convicted in 2014 for similar offences and compounded 60 similar offences. In April and May of 2018, [...]
Every year, companies in Singapore are required to file with two main government bodies, namely The Accounting and Corporate Regulatory Authority (ACRA) and IRAS (The Inland Revenue Authority of Singapore). The following entails the three filing requirements for a company to stay compliant. Estimated Chargeable Income (ECI) Companies are required to file the ECI, or [...]
The role of a director cannot be taken lightly. As a director, one should carry out his or her duties carefully and honestly. If found to be in breach of statutory duties, a director may face criminal prosecution. This year for instance, there were separate reports of a company director convicted for lodging false information [...]
It is mandated that every company in Singapore will have to file their annual returns with the Accounting and Corporate Regulatory Authority (ACRA). Failure to do so will result in penalties. Here are some things you should know as a company owner about annual filing. Firstly, you have to determine which category your company falls [...]
In Singapore, it is mandatory for every company to have a company secretary. This individual must be a resident of Singapore. Namely, he must be either a Singapore Citizen, Singapore Permanent Resident or hold a valid pass, namely either an EntrePass, Employment Pass or an S Pass to work in that particular company. A company [...]
[UPDATE 9th June 2025. Corporate Service Providers Act 2024 (CSP Act) comes into force. Some pricing changes due to higher compliance requirements and cost.] Singapore is one of the best places to set up a company to do business. Singapore is a free and open economy, one of the safest and corrupt-free cities and has [...]
The Stamp Duties Act in Singapore defines stamp duty as a tax levied on immovable properties, stocks and shares in private companies in Singapore. When are Stamp Duties applicable? Transfer of share document. This refers to the documents signed when shares are bought or acquired. If there are no executed document for the transfer of [...]
Section 121 of the Companies (Amendment) Act 2014 which introduces new sections 202A and 202B of the Companies Act (the "Act") took effect on 20 April 2018. Concurrently, the Companies (Revision of Defective Financial Statements, or Consolidated Financial Statements or Balance-Sheet) Regulations 2018 (the “Regulations”) has been issued to operationalise sections 202A and 202B. The [...]