Directors and shareholders serve as crucial participants within the structure of a company, exerting influence and shaping its decisions. They each have distinct responsibilities and fulfil separate functions. However, is it feasible for an individual to assume both the roles of a director and a shareholder? That's an excellent question! Let's delve deeper into this [...]
Opening a trading company in Singapore involves several steps that need to be followed. Here is a general guide on how to open a trading company in Singapore: Decide on the business structure: The first step in opening a trading company is to decide on the business structure. You can choose to set up a [...]
Personal tax filing season is once again upon us! Please note that personal and corporate tax filing deadlines are very different. Personal income taxes are to be filed by April and corporate income taxes are to be filed by November. When filing your personal income taxes in Singapore, here are some key things to keep [...]
If you are a business operating in Singapore, joining the Singapore Peppol e-invoicing scheme can be a beneficial step. Here are some reasons why: Faster and more efficient invoicing: By using e-invoicing, you can send and receive invoices in a matter of seconds, reducing processing times and improving cash flow. Lower administrative costs: E-invoicing eliminates [...]
A tax haven is a country or jurisdiction that offers individuals and businesses little or no tax liability, usually through the implementation of favourable tax policies, such as low or no tax rates, lax financial regulations, and strict secrecy laws. These jurisdictions may also offer other advantages, such as political and economic stability, ease of [...]
The concept of par value is that every share issued by a company must have a par value, which is the minimum price at which the share can be issued. The par value represents the minimum amount of money that shareholders must pay to the company for each share they own. Companies can also issue [...]
A shareholders agreement is a legally binding document that outlines the rights and obligations of the shareholders of a company. The following are some of the key reasons why it is important for a company to have a shareholders agreement in place: Clarifies Ownership and Control: A shareholders agreement can help to clarify the ownership [...]
A trust agreement is a legal document that sets out the terms and conditions of a trust. The following are some of the key provisions that may be included in a trust agreement: Trustee: The name of the trustee or trustees who will be responsible for managing the trust assets and making distributions to the [...]
To hold company shares in trust for someone else means that the registered shareholder of the shares (the legal owner) is holding the shares on behalf of another person (the beneficial owner). In Singapore, the registered shareholder is listed as the legal owner of the shares on the company's register of members, while the beneficial [...]
Yes, it is possible for a non-Singapore resident to open a bank account in Singapore, although the specific requirements and processes may vary among different banks. Generally, non-residents may need to provide additional documentation to prove their identity and address, such as a valid passport, employment pass, or utility bill. They may also need to [...]