Exempt Private Company (EPC) mechanics: Frequently asked questions
Exempt private company mechanics explained: eligibility, audit exemption, fees and common pitfalls for foreign founders setting up in Singapore.
Foreign Director vs Local Resident Director Requirements for a Singapore Pte Ltd
Foreign director vs local director requirements for a Singapore Pte Ltd: who qualifies, nominee options, and appointing your resident director.
Subsidiary of Foreign Parent: Director and Capital Pitfalls: Common Mistakes and Rejection Reasons
Subsidiary of foreign parent? Avoid director residency and paid-up capital mistakes that delay ACRA incorporation for your Singapore entity.
Sector compliance: F&B, healthcare, education, fintech: Common mistakes and rejection reasons
ACRA registration is not the same as sector licensing. The recurring gaps SFA, MOH, CPE and MAS applications get rejected for, and how to avoid them.
Singapore PDPA compliance for SMEs: Common mistakes and rejection reasons
SMEs often trip up on PDPA compliance through weak DPO appointments, stale consent or slow breach notification. Here is what PDPC enforcement decisions actually flag.
Standard Chartered introduces a 10% deposit rate in Hong Kong to attract funds from China.
Standard Chartered is enticing Chinese customers with short-term deposit rates reaching up to 10 per cent to attract deposits from mainland China and bolster Hong Kong's status as a wealth hub. As part of the Wealth Management Connect program, eligible customers can exchange renminbi for US dollars with funds equivalent to HK$100,000 (S$17,390) or more [...]
What is the Auto-Inclusion Scheme (AIS)?
The Auto-Inclusion Scheme (AIS) is a system where employers electronically submit their employees’ employment income details to the Inland Revenue Authority of Singapore (IRAS). Subsequently, IRAS automatically incorporates this information into the employees’ online tax returns and assessments. Here's how it works: Employers are required to compile all employment income information and submit it via [...]
Preparing for the Change in GST Rate
It is highly recommended to initiate early preparations to seamlessly transition to the new GST rate of 9% effective from January 1, 2024. This involves potential adjustments to your point-of-sale, invoicing, accounting systems, and other operational aspects, including updating price displays to reflect the revised rate. The Budget In the Budget announcement of 2022, [...]
MAS prohibits retail customers from utilising local credit cards for purchasing cryptocurrencies
The Monetary Authority of Singapore recently announced that individuals dealing with digital payment token (DPT) services from Singapore-regulated providers will be prohibited from using local credit cards to purchase cryptocurrencies. Additionally, they will be required to undergo assessments regarding the risks associated with trading in DPTs. DPTs are known for their volatile prices. These conditions [...]
Closing down your Singapore Company. Winding up and striking off a company.
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. [...]