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 [...]
Companies are required, in accordance with the Personal Data Protection Act (PDPA), to appoint a data protection officer (DPO) to ensure that the company is compliant with the act. The details of the DPO should be made publicly available. Typically, companies will put this information on their website. In the event of a breach or [...]
In short, disqualified directors cannot hold director positions in local or foreign companies. Bankruptcy Disqualification under Section 148 of the Singapore Companies Act (CAP. 50) An individual who is declared bankrupt by a Singapore or foreign court cannot remain as or be appointed as a director of any company unless a Court Order [...]
There are times where the shareholders may decide to sell off their shares of the company. There may be an acquisition made on a company or the shareholders of the company may decide to cash out of their investment in a company. If the shares of the company are listed on a stock exchange, the [...]
Amending the company constitution in Singapore is a significant event as it is essentially amending the rulebook of the company. There are two types of alterations that are made: Amendments to the constitution that do not alter the objects of the company Amendments to the constitution that alter the objects of the company The word [...]
Amending the company constitution in Singapore is a significant event as it is essentially amending the rulebook of the company. There are two types of alterations that are made: Amendments to the constitution that do not alter the objects of the company Amendments to the constitution that alter the objects of the company The word [...]
The Market Readiness Assistance (MRA) provides a support level of up to 70% up to 31st March 2023. As announced at Budget 2021, the maximum support level of up to 80% will be until 31st March 2022. MRA will be enhanced to include Trace Credit Insurance as a supportable area under the overseas market set-up [...]
With effect from 30th July 2020, Companies and Limited Liability Partnerships (LLPs) are required to lodge the Non-Public Register of Registrable Controllers (RORC) information with ACRA. This is on top of them maintaining their own RORC. The process was initially started in mid-2020 but due to technical errors, the registrar, ACRA, delayed the e-service. On [...]
The Personal Data Protection Act The Personal Data Protection Act (PDPA) requires businesses to obtain clients' consent before obtaining and using their personal data. This article aims to help companies comply with the PDPA requirements when obtaining and using clients' personal data. Personal data refers to information that can identify the client. This data includes [...]