What businesses can foreigners on certain passes in Singapore start?

Singapore generally allows foreigners to start businesses in Singapore. However, foreigners on certain passes may be restricted from starting or managing their business based on restrictions placed on that pass. Most pass holders are not allowed to manage their businesses in Singapore. This means that they are not allowed to register sole proprietorships or partnerships. [...]

By |2024-03-25T18:21:47+08:00March 25th, 2024|Employment and Immigration, Useful Incorporation Articles|

What you need to know about setting up an offshore Singapore company

Establishing a Singapore offshore company involves registering and operating a business from a location separate from its primary stakeholders and operations. In essence, the company is a local Singapore company and its ownership, management and control may be outside of Singapore. The appeal of Singapore for entrepreneurs and investors is rooted in the diverse advantages [...]

By |2024-02-15T11:30:35+08:00February 15th, 2024|Useful Incorporation Articles|

A company’s fiscal year. What you need to know.

A company's fiscal year refers to a company's financial period. Typically, in almost all scenarios, this would be a 12-month period. The most common fiscal year would be the calendar year (i.e. 1st January to 31st December). However, companies are accorded flexibility in selecting their fiscal year. There may be a multitude of considerations. A [...]

By |2024-01-03T19:21:50+08:00January 3rd, 2024|Running a Company, Useful Incorporation Articles|

The concept of a holding company and the requirements for one setting up

A holding company is a legal entity that owns and controls other companies, with the primary operational activities carried out by its subsidiary companies. It is established to mitigate risks for the owners, as their liabilities are limited to the shares or assets associated with the subsidiary held by the holding company. The use of [...]

By |2023-10-06T18:32:54+08:00July 6th, 2023|Running a Company, Useful Incorporation Articles|

What is bootstrapping?

Bootstrapping a business means starting and running a business using one's own resources without external funding or significant debt. In other words, it refers to building a business from scratch by relying on personal savings, revenue generated by the business, and other non-traditional funding sources. The concept of bootstrapping in business has gained popularity in [...]

By |2023-04-03T16:54:45+08:00April 7th, 2023|Useful Incorporation Articles|

Starting an Import / Export Business in Singapore

For a start, you will need to know that there are two types of goods. Controlled goods and non-controlled goods. If you intend to bring goods from abroad to sell in Singapore, you must obtain import permits and licenses for "controlled goods." First, ensure that your business is registered with the Accounting and Corporate Regulatory [...]

By |2023-11-14T14:52:57+08:00March 10th, 2023|Useful Incorporation Articles|

The importance and significance of the paid up capital of a Singapore registered company

Paid-up capital refers to the portion of a company's authorized capital that has been paid for by shareholders in exchange for shares. In Singapore, the minimum paid-up capital required to register a private limited company is SGD $1. The paid-up capital of a Singapore-registered company has several important functions and significances, including: Legal Requirement: A [...]

By |2023-11-14T18:52:09+08:00February 23rd, 2023|Useful Incorporation Articles|

Key features of the Model Constitution for companies in Singapore

Every company in Singapore has a company constitution. This essentially is the "rule book" of the company. It sets out how the company does its business and how it deals with matters especially with regards to the conduct of directors and shareholders. You can retrieve the model constitution from this link: https://sso.agc.gov.sg/SL/CoA1967-S833-2015?DocDate=20200124 The model constitution [...]

By |2023-02-07T10:24:41+08:00February 13th, 2023|Running a Company, Useful Incorporation Articles|

Changes to Aspire’s pricing plan

For the last year, our company has been recommending Aspire to clients who are looking for a digital bank account. We wrote an article about digital banks which can be found here: https://www.singaporesecretaryservices.com/what-is-a-digital-bank/. The main draw for most was that Aspire's corporate account is free. There were no monthly or annual charges. Moreover, there were [...]

By |2022-08-01T12:51:31+08:00August 1st, 2022|Useful Incorporation Articles|
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