Corporate and Regulatory Compliance

Frequently Asked Questions Your questions answered

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Covering All Elements Of Company Formation And Much More

ContactOne offers various types of services for business owners and aspiring entrepreneurs in the Singaporean market. If you wish to set up a company in Singapore and looking for a corporate service provider for assistance, we are delighted to hear from you.

On this page, we have answered several frequently asked questions about our business so you can start working with us.

Corporate and Regulatory Compliance
What is the role of a company secretary?

A company secretary is in charge of ensuring that the company is in compliance with the compliance requirements stated in the Companies Act as well as the Constitution of the company. As the tasks may be quite extensive, we will highlight the common tasks usually performed by the company secretary:

  • Maintaining of Statutory Registers and Minute Books
  • Preparation of Minutes and Resolutions for Annual General Meeting
  • Preparation and Filing of Annual Returns
Who are the regulators I might deal with when doing business in Singapore?
The 3 regulatory bodies all business entities deal with are the:
  • Accounting and Corporate Regulatory Authority of Singapore (ACRA) for business and company compliance matters
  • Inland Revenue Authority of Singapore (IRAS) for tax matters.
  • Central Provident Fund Board (CPFB) for submission of CPF contributions for yourself and/or your staff members.
There are various regulatory bodies which you may need to contact for application of licenses, permits or other approvals which are dependent on the nature of your business. You may wish to contact us to find out more about your regulatory requirements for your business.
Do I need to engage an auditor to audit the accounting records of my business?

A company is required to appoint an auditor within 3 months from its date of incorporation unless the company is an exempt private limited company. For other business entities like sole-proprietorship and partnerships, there is no requirement for you to appoint an auditor.

Are there any restrictions on the company

Your choice of company name has to be approved by ACRA before the actual incorporation of a company. Your choice of name will only be approved if it is not identical to the name of an existing company. Undesirable name choices will also not be approved.

When and where do I need to hold an Annual General Meeting (AGM)?

For private limited companies, you will need to hold your first AGM within 18 months from the date of incorporation. Subsequently, the company is required to hold an AGM in every calendar year and not more than 15 months after the last AGM. The AGM date must also not be more than 6 months from the financial year end of your company.

You may hold the AGM anywhere you wish.

For partnerships and sole proprietorship, there is no requirement for you to hold any AGMs.

What is a Registered Address?

A registered address is the official or legal address of your business. All official documents will be sent to this address. The registered address of the company need not be the business address of the company.