Typical Pre-emptive Rights

Pre-emptive rights are rights that give the existing shareholders of the company the first right to purchase any shares that an existing shareholder may be selling. Such pre-emptive rights are important for a variety of reasons. The existing shareholders may not want the shares of the company to be transferred to someone who is not [...]

By |2023-05-24T11:52:07+08:00May 24th, 2023|Running a Company|

AGM exemption

An annual general meeting (AGM) is a mandatory yearly gathering of a company's stakeholders to discuss important matters concerning the business. At this event, the company's board of directors delivers an annual report containing information about the company's performance and strategies to shareholders. Shareholders with voting rights participate in the meeting to vote on various [...]

By |2023-05-10T17:15:29+08:00May 10th, 2023|Running a Company|

Applying for a Major Payment Institution Licence with the MAS

There are two types of Payment Institution licences issued by the Monetary Authority of Singapore (MAS) under the Payment Services Act. They are the Standard Payment Institution Licence and the Major Payment Institution Licence.   The Payment Institution Licences will allow licence holders to provide any of the seven payment services that are regulated by [...]

By |2023-04-03T16:36:26+08:00April 3rd, 2023|Running a Company|

How to determine the tax residency of a company

According to tax law in Singapore, a company's tax residency is determined by where its business is managed and controlled. This status can change on a yearly basis. Typically, a company is considered a Singapore tax resident for a specific Year of Assessment (YA) if its business was controlled and managed in Singapore during the [...]

By |2023-03-02T13:06:26+08:00March 13th, 2023|Accounting Bookkeeping Tax and XBRL, Running a Company|

Why it is important for a company to have regular management reports

Management reports are important to a company because they provide decision-makers with valuable insights into the performance and financial health of the organization. These reports allow managers to: Monitor performance: Management reports provide real-time information about key performance indicators such as sales, expenses, and profitability. This enables managers to identify trends and track progress towards [...]

By |2023-02-07T12:20:16+08:00February 17th, 2023|Accounting Bookkeeping Tax and XBRL, Running a Company|

Selling a business in Singapore

Selling a business in Singapore involves several steps and requires careful planning and preparation. Here are some general steps you can take: Prepare your business for sale: Before selling your business, you need to ensure that your financial statements are up-to-date and that your business is in good shape. This can include making any necessary [...]

By |2023-02-15T14:18:30+08:00February 15th, 2023|Running a Company|

Key features of the Model Constitution for companies in Singapore

Every company in Singapore has a company constitution. This essentially is the "rule book" of the company. It sets out how the company does its business and how it deals with matters especially with regards to the conduct of directors and shareholders. You can retrieve the model constitution from this link: https://sso.agc.gov.sg/SL/CoA1967-S833-2015?DocDate=20200124 The model constitution [...]

By |2023-02-07T10:24:41+08:00February 13th, 2023|Running a Company, Useful Incorporation Articles|
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