Is having a high Paid-Up Capital important?

Paid-up capital is the amount of money a company has received from shareholders in exchange for shares. In Singapore, companies can have as low a paid-up capital as SGD$1. In this instance, the company has received SGD$1 for perhaps 1 share of the company, assuming that the company is denominating one share at SGD$1. Let [...]

By |2020-08-30T17:55:39+08:00August 30th, 2020|Useful Articles|0 Comments

Tax obligations before striking off a company in Singapore

Part of the striking off process of a Singapore company involves clearing all outstanding taxes and tax obligations to the Inland Revenue Authority of Singapore (IRAS). If these are not cleared, IRAS may object to the application for striking off. The company in question should ensure the following: All outstanding tax returns (Form C-S/C) are [...]

By |2020-08-21T17:17:44+08:00August 21st, 2020|Useful Articles|0 Comments

Business and IPC Partnership Scheme (BIPS)

The Business and IPC Partnership Scheme (BIPS) is a scheme that allows 250% corporate tax deduction on qualifying expenses when a business' or company's employees volunteer, provide professional services to recognised Institutions of Public Character (IPCs) The employee of a business or company in Singapore can qualify for the BIPS scheme provided: he or she [...]

By |2020-07-16T10:08:11+08:00July 16th, 2020|Useful Articles|0 Comments

Guide for Notice of Extraordinary General Meeting

If a company wants to hold an Extraordinary General Meeting (EGM), it has to send out a written notice to all its shareholders to inform them of the meeting. The notice period may differ between private and public companies. If a private company would like to hold an EGM to pass an ordinary or special [...]

By |2020-06-30T11:14:22+08:00June 30th, 2020|Useful Articles|0 Comments

New licence conditions for employment agencies to strengthen fair hiring to kick in on the 1st of October

To strengthen fair employment practices, the Ministry of Manpower is putting in place new licence conditions for all new and existing employment agencies when they engage in recruitment work. These new licence conditions are No discrimination practices are allowed Workplace discrimination based on age, race, nationality, gender and disability is not allowed. Where discriminatory practices [...]

By |2020-06-23T11:57:07+08:00June 23rd, 2020|Latest News and Announcements, Useful Articles|0 Comments

Lodging of information on the Registers of Registrable Controllers with ACRA

The need to maintain a Register of Registrable Controller (RORC) came into effect on the 31st of March 2017 through the amendment of The Companies Act. Newly incorporated companies will be required to have and maintain the registers of registrable controllers within 30 days from the date of incorporation and existing companies will be given [...]

By |2020-06-06T12:12:39+08:00June 6th, 2020|Useful Articles|0 Comments

What is a shelf company and how to buy a Singapore shelf company

A shelf company is a registered legal entity that is operational but is dormant. Being dormant, it has no income and does not carry out any activities. It does have all the basic structure of a legal entity. It has a registered local address, local director, shareholder and company secretary. Typically, shelf companies have a [...]

By |2020-05-13T12:12:27+08:00May 13th, 2020|Useful Articles|0 Comments

I need to return to my workplace during the circuit breaker. How can I do so?

During this circuit breaker period, non-essential workplaces are expected to be closed. However, there may be instances where certain employees may be required to return to the workplace for a short period of time. They can do so by applying for Time-Limited Exemption through this website: The application is to be done by the [...]

By |2020-05-11T11:46:46+08:00May 11th, 2020|Useful Articles|0 Comments

Company seals and company rubber stamps

Company seal A company seal, or common seal, is an official seal by the company to endorse documents like deeds and share certificates. It bears the company's name and registration number and is a metal contraption used to emboss documents. The company seal is used for contracts that are required by law to be executed [...]

By |2020-05-11T11:21:05+08:00May 11th, 2020|Useful Articles|0 Comments

What you need to know about Anti-Money Laundering Regulations and how it affects your business

Changes were made to the Companies Act on 31st March 2017 and the key changes were with regards to making company ownership more transparent so as to limit the use of Singapore companies for illegal uses such as money laundering and financing of terrorism. There were also changes to the Accountants Act but for this [...]

By |2020-04-19T16:53:13+08:00April 19th, 2020|Useful Articles|0 Comments
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