Why do you need a security deposit for the Nominee Director service? How and when can we get this back?

As every company requires a local resident director, if there are foreigners who are looking to incorporate a company in Singapore, they will need a local resident to fill the position of the local resident director. A local resident director is someone who is ordinarily residing in Singapore. This DOES NOT mean that this person [...]

By |2023-01-31T16:38:09+08:00February 1st, 2023|Questions and Answers|

Can my company not appoint a company secretary?

The relevant section in the Companies Act pertaining to the position of company secretary is section 171. With regards to a company not wanting to appoint a company secretary, section 171(4A) of the Companies Act provides us with some guidance. The section states: The office of secretary must not be left vacant for more than [...]

By |2023-01-18T11:37:51+08:00January 18th, 2023|Questions and Answers|

I am the sole director and shareholder of the company, will I be taxed if I pay myself a director’s fee or salary?

This question was emailed to us at [email protected] A director is considered an employee of the company. Therefore, like every employee who receives payment, this is an expense to the company. If you consider the simple equation of: Profit = Revenue - Expenses You will see that if expenses increase, profit will decrease. Therefore, the [...]

By |2022-08-10T13:58:25+08:00August 10th, 2022|Questions and Answers|

How do I execute a share buyback?

A company can return excess capital it might have to its shareholders through dividends, share capital reduction or share buybacks. In this article, we will be focusing on share buybacks, namely for private companies in Singapore. A share buyback is exactly what it says. A company is buying back its own shares. Instead of the [...]

By |2022-07-15T16:28:18+08:00July 15th, 2022|Questions and Answers, Uncategorized|

When are gains from the sale of property, shares and financial instruments taxable?

As a starting point, in Singapore, investment gains are not taxable. Hence, if an individual or a business entity like a company sells a property, shares or other financial instruments, the possible profits that are received are not subject to tax.   According to IRAS, the following gains are generally not taxable: Gains that are [...]

By |2022-04-11T13:11:07+08:00April 11th, 2022|Questions and Answers|

What are Routine Secretarial Services?

In accordance with the Companies Act, every Singapore registered company is required to appoint a company secretary. In many instances, companies may outsource this position, as well as the duty to maintain corporate compliance, to a corporate service provider like Singapore Secretary Services. The role of the Company Secretary is to assist in the administration [...]

By |2022-02-07T09:35:49+08:00February 3rd, 2022|Questions and Answers, Running a Company|

Can I set up a company in Singapore and apply for a valid work pass?

This article was previously featured on Singapore Employment Agency and syndicated on our website.   The short answer to this question would be yes. However, there are a few qualifiers and you should read further into this article to better understand what they are.   There are many who would like to come to Singapore [...]

By |2022-01-25T12:20:29+08:00January 25th, 2022|Employment and Immigration, Questions and Answers|
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