Upon incorporation, companies must appoint a company secretary within six months. This is in accordance with section 171(4A) of the Companies Act which states: The office of secretary must not be left vacant for more than 6 months at any one time. In most cases, the company secretary is filled by the corporate service provider [...]
Brief introduction: To better understand the advantages and disadvantages, we will need to first understand what convertible notes really are and then we can better appreciate their usage. We have a previous article posted here: What is a convertible note?. This article spells out the usual steps a company may take to issue a convertible [...]
Do note that the information in this article is accurate as of the date of publishing. As a general guide, CPF contributions are required for full-time, part-time, casual and temporary employees who are: Singapore citizens or permanent residents Engaged under a contract of service (i.e. an employment contract as opposed to a contract for service) [...]
On January 10th 2022, Parliament passed the Corporate Registers (Miscellaneous Amendments) Act. This amends the Companies Act and Limited Partnerships (LLP) Act. What are the changes? Both local and foreign Singapore registered companies will be required to keep a non-public register of nominee shareholders and their nominators. The register will need to be updated [...]
In our previous article, What are Routine Secretarial Services?, we discussed the typical services which a corporate service provider will cover. In this article, we will touch on what are non-routine Secretarial Services. Non-routine secretarial services are typically items that do not happen on a regular basis. They are generally not the usual statutory requirements. [...]
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 [...]
On the 10th of January 2022, the Singapore parliament passed the Corporate Registers (Miscellaneous Amendments) Act. This act amends the Companies Act and the Limited Liability Partnerships Act. This act adds the requirement for Companies registered in Singapore to keep registers of nominee shareholders and their nominees. This requirement will plug the gap regarding the [...]
After the incorporation of a company, the first board meeting should be convened. This is a meeting of the directors of the company. The meeting is usually done about one month after the date of incorporation. This meeting should set out the basic structure of the company. The resolution can be in one singular document [...]
A Company and a Limited Liability Partnership (LLP) are both incorporated entities which mean that they have a separate legal personality from their ownership. We encounter a lot of queries about which business structure is best recommended for people looking to set up business structures and more often than not, we usually gravitate and recommend [...]
We have seen cases whereby clients have confused the roles of shareholders and directors. In this article, we will be explaining the roles and powers of the shareholders and the directors. The shareholders are the owners of the company. The directors, on the other hand, are the management of the company. Thus the management powers [...]