Singapore is coming down hard on money laundering and terrorism financing activities. Every Singapore company should have processes in place to deal with such matters. Every company should have an anti-money laundering framework in place. Creating an Anti-Money Laundering (AML) framework for a Singapore company involves a series of steps to ensure compliance with [...]
Companies are free to change their registered address. The company's registered address may be different from its operating address. For example, a company dealing with supplying raw goods may be operating out of a warehouse or an industrial site. They may not want official letters delivered to that operating address. They may have a headquarters [...]
There are many reasons why some companies may choose to use a virtual office. Some people may conflate it with registered office service. A registered office service alone means that a company uses the office address of a service provider, usually the corporate service provider, to fulfil the statutory requirement that every Singapore registered company [...]
A company may alter its share capital. This is provided for in section 71(1) of the Companies Act. Section 71(1) of the Companies Act states: Subject to subsections (1B) and (1C), a company, if so authorised by its constitution, may in general meeting alter its share capital in any one or more of the following ways: [...]
So you are running a Singapore company. You need a summary of what you need to file so that the company is compliant with the local regulations. In short, there are 3 types of filings that you need to remember when you are running a Singapore Company. Annual Returns Estimated Chargeable Income (ECI) Income Tax [...]
A company is perpetual. This means that it is a going concern until there is action taken to cease its existence. A Variable Capital Company (VCC) is a type of company. This particular corporate structure will remain a going concern until the VCC is wound up or struck off. The way a VCC is struck [...]
Singapore is a pivotal hub for global trade, especially for transactions spanning the eastern and western time zones. As per the latest World Trade Organization statistics, Singapore ranks as the 14th largest merchandise exporter globally, boasting a trade-to-GDP ratio of 404.9%. This guide is designed to assist those looking to establish a trading company in [...]
E-signatures are valid in Singapore (unless the exclusion applies) according to section 2 of the Electronic Transactions Act. Increasingly, businesses are using e-signatures in their daily transactions. Here are some reasons e-signatures can improve your business in Singapore. 1. Increased Efficiency Speed: E-signatures enable faster turnaround times for document approvals and contracts, reducing delays associated [...]
As a separate legal entity, a company can purchase and hold a property. This can be either a commercial or residential property. Due to the extremely high additional buyers' stamp duties levied on companies when they purchase residential properties, companies usually purchase commercial properties. Therefore, in this article, we will focus on a Singapore company [...]
Employers are required to respond to requests for flexible work arrangements within two months, providing reasons if the request is denied. Starting in December, when new tripartite guidelines are introduced, all employers must establish a formal process for employees to request flexible work arrangements. These guidelines stipulate that employers must issue their decisions on such [...]