Starting a charity in Singapore is a noble endeavor that requires careful planning, compliance with regulations, and a clear mission to address a societal need. Whether you want to support underprivileged communities, promote education, or aid in environmental conservation, setting up a charity involves a structured process. This guide will take you through the detailed [...]
The Singapore Budget 2024 has been unveiled for almost a year, and it brought a host of measures designed to support businesses in navigating a challenging global economic landscape. With a focus on sustainability, innovation, and resilience, the budget introduces several initiatives that could significantly impact businesses across various sectors. Whether you’re a small business [...]
Singapore has emerged as a global hub for asset and wealth management, thanks to its robust regulatory framework, tax incentives, and strategic location. One of the most innovative structures introduced in recent years is the Variable Capital Company (VCC). Designed specifically for investment funds, the VCC has gained popularity among fund managers and investors alike. [...]
In today’s globalized economy, entrepreneurs and businesses are constantly seeking the best jurisdictions to establish their companies. Among the top contenders, Singapore has emerged as a leading destination for incorporation, offering a unique blend of advantages that make it stand out from other global hubs. From its business-friendly policies to its strategic location, Singapore provides [...]
According to section 2 of the Central Provident Fund Act (CPF Act), wages means the remuneration in money, including any bonus, due or granted to a person in respect of his employment but does not include such payments as the Minister may, by notification in the Gazette, specify. All items that fall under the definition [...]
In Singapore, whether a company needs to pay Central Provident Fund (CPF) contributions on allowances depends on the type of allowance and how it is classified under CPF rules. Below is a general guideline: Allowances Attracting CPF Contributions CPF contributions are generally payable on allowances that are considered part of an employee's wages. Examples include: [...]
The Annual Return Filing (AR Filing) is done when the company has completed its Annual General Meeting (AGM). Here at Raffles Corporate Services, we will remind our corporate clients that the AGM needs to be held. There are generally three ways to hold the AGM. Physically, virtually or in writing. A physically held AGM would [...]
New year, new resolution, new company? It is the best time to incorporate a new company. Here are some reasons why. This is the ideal time to set the company's financial year to match the calendar year When a company is incorporated, you can select the company's financial period. Typically, the first financial year [...]
Yes, the cost of living for expatriates in Singapore is generally considered high compared to many other cities. However, it can vary significantly based on lifestyle choices, housing arrangements, and spending habits. Here's a breakdown of the key factors influencing the cost of living: 1. Housing Cost: Housing is one of the largest expenses for [...]
For a myriad of reasons, a company may have been previously struck off and now the shareholders and or directors wish to have it restored. By restoration, we refer to having the name of the company restored to the register of companies. There are two methods to have the company restored: Court-ordered restoration; and Administrative [...]