Myths that you should never believe
You do not need to file anything because your Company is Dormant A Dormant Company still needs to lodged the Annual Return to ACRA annually. There are no exemptions for this. If you do not file for your Annual Return, you will risk paying unnecessary penalties for late or non-filing. This is especially not worthwhile, […]
Choosing a Company Name
The awesome company name that you have decided on will be one of the key brandings attached to your business. You will need to be aware of what names cannot be used, and what names may be used, but only if approved by a referral authority. If a name is submitted for approval by a […]
Opening Your Company Bank Account
INTRODUCTION A Company will need a bank account of its own for its business fund deposits and withdrawals. The opening of a corporate bank account is a relatively simple process for most companies, and there are many local banks offering corporate banking solutions for small to medium businesses. Please note that different banks will offer […]
Start-Up Guide for First Time Entrepreneurs
SELECT A TYPE OF BUSINESS VEHICLE A Private Limited Company is the most popular form of business vehicle for most businesses. Find out more about the other types of business vehicles available to you HERE. THINK OF A NAME FOR YOUR BUSINESS The name of your business must be suitable and not undesirous in nature. This […]
Closing Down A Company – The Strike Off Option
Managing the End Stage of your Business Cycle There are essentially two categories of company closure: Winding Up and Striking Off. In general, you may close down a company via Striking Off if there are, or there will be arrangements to ensure that there will be no assets and no liabilities within the Company at […]
How Do I Know If My Company is Exempt From Audit
With the new amendments to the Companies Act effective 1 July 2015, the rules on how to assess if a company is exempt from audit has changed significantly. Previously, a company is exempt from audit if the company has less than 20 shareholders, does not have any corporate shareholder, and has annual turnover below S$5M. […]
The Private Limited Company
THE PRIVATE LIMITED COMPANY – PART II: INTRODUCTION TO COMPANY ANNUAL COMPLIANCE, TAX BENEFITS AND GENERAL REGULATORY RULINGS In this section, you will learn about what are the key components and people of a Private Limited Company. You will appreciate and understand: The Annual Obligations for a Private Limited Company Tax Benefits applicable to Private […]
Small Company Am I Exempt From Audit
How Do I Know If My Company is Exempt From Audit With the new amendments to the Companies Act effective 1 July 2015, the rules on how to assess if a company is exempt from audit has changed significantly. Previously, a company is exempt from audit if the company has less than 20 shareholders, does […]
Business Entities in Singapore
DECIDING ON THE IDEAL BUSINESS VEHICLE One of the key decisions you need to make when starting up a business is to consider the type of business vehicle to conduct your new business. Your decision will influence the ease of business formation and exit, business ownership transfer, how much taxes you need to pay, the […]
