Important compliance requirements for Singapore companies

If you are thinking of incorporating a company or your company is already incorporated, here is a list of compliance requirements that all company directors should ensure that the company adheres to. Do note that it is the duty of the company directors to ensure that the company is following the regulatory requirements. Appointment of [...]

By |2020-10-11T12:17:55+08:00October 11th, 2020|Running a Company, Useful Incorporation Articles|0 Comments

The differences between an LLC, LLP and Sole Proprietorship

When starting a business entity, entrepreneurs are often faced with the dilemma of whether to start a Limited Liability Company (LLC), More commonly known as Private Limited Company, a Limited Liability Partnership (LLP) or Sole Proprietorship. In this article, we will discuss the differences between the three and spell out the advantages and disadvantages of [...]

By |2020-10-10T11:39:18+08:00October 10th, 2020|Useful Incorporation Articles|0 Comments

How to start a spa in Singapore

Setting up a spa in Singapore can be a rather profitable business given the affluent nature of the population. This article will spell out the required licences as well as the requirements when setting up a spa in Singapore. The Massage Establishment Act states that a Massage Establishment (ME) License is required in order to [...]

By |2020-10-10T11:48:11+08:00October 6th, 2020|Useful Incorporation Articles|0 Comments

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 |2020-10-10T11:48:35+08:00August 30th, 2020|Useful Incorporation Articles|0 Comments

Can a foreign owned Singapore company open a company bank account in Singapore?

Singapore is a very open economy and we do welcome individuals from all over the world to open companies in Singapore to do legitimate business. Foreigners can fully own a Singapore company. A foreigner can also apply for a valid working pass to become the local director of the Singapore company. Being open and pro-business [...]

By |2020-10-10T11:48:48+08:00August 26th, 2020|Questions and Answers, Useful Incorporation Articles|0 Comments

How to convert a sole proprietorship or limited liabilited partnership to a company

There are a whole host of reasons why a company structure is a more effective business structure and from time to time, sole proprietors or limited liability partnerships may decide to convert their business structure to a company. There are some pros and cons to converting to a company and these should be well thought [...]

By |2020-10-10T12:00:51+08:00August 6th, 2019|Useful Incorporation Articles|0 Comments

The Variable Capital Companies Act 2018

On the 1st of October 2018, the Singapore parliament passed the Variable Capital Companies Act. The act was assented to by the President on the 31st of October 2018. The Variable Capital Companies Act provide for the incorporation, operation and regulation of new corporate entities called Variable Capital Companies. A Variable Capital Company (VCC) has [...]

By |2020-10-10T12:01:13+08:00July 23rd, 2019|Useful Incorporation Articles|0 Comments

How to set up a Social Enterprise in Singapore?

A Social Enterprise is a typical company. It is basically a normal, typical company which is profit driven and the incorporation process is basically the same as starting a new company because a starting a Social Enterprise is starting a normal, typical company. There is no special SSIC code which companies must place on their [...]

By |2020-10-10T12:01:23+08:00July 5th, 2019|Useful Incorporation Articles|0 Comments

Why Singapore is a good place to start a business

If you were to start a business, namely in Asia, you would inevitably factor in starting it in Singapore, among others. Here are some reasons which may compel you to eventually start your business, and company, in Singapore. 1) Singapore has one of the lowest corporate taxes in the world The corporate tax rate is [...]

By |2020-10-10T12:01:33+08:00July 2nd, 2019|Useful Incorporation Articles|0 Comments

Converting a Sole Proprietorship into a Private Limited Company

As a business grows, some business owners may want to convert their sole proprietorship into a private limited company. Here are some of the reasons why some business owners may want to make the switch. 1) To limit liabilities As a sole proprietor, your liabilities are unlimited. This means that you are liable for any [...]

By |2020-10-10T12:03:14+08:00June 12th, 2019|Useful Incorporation Articles|0 Comments
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