STRO Singapore: Safeguarding Financial Integrity - Importance, Impact & Compliance
Singapore's reputation as a global financial hub relies heavily on its robust regulatory framework. A cornerstone of this framework is the Suspicious Transaction Reporting Office (STRO), which plays a pivotal role in combating money laundering, terrorism financing, and other…
How Does a Quorum Work in Singapore Companies?
So, you’re thinking of incorporating a company in Singapore? That’s awesome! But before you dive into the exciting world of entrepreneurship, there’s one term you’ll need to get familiar with: quorum. Sounds fancy, right? Don’t worry—it’s not as complicated as it seems. In this…
The Enterprise Innovation Scheme (EIS)
As outlined in the 2023 Budget announcement, with the aim of fostering the participation of businesses in research and development (R&D), innovation, and capability enhancement initiatives, the Deputy Prime Minister and Minister for Finance have unveiled plans to introduce…
Dormant company: What you need to do
When your Singapore company is dormant, meaning it has no significant accounting transactions during the financial year, there are several things you should do to comply with the regulations set by the Accounting and Corporate Regulatory Authority (ACRA): Submit annual returns…
Setting up a Family Office in Singapore
What is a Family Office? A family office is a private wealth management advisory firm that serves wealthy families and individuals. Its primary objective is to manage the financial and personal affairs of high-net-worth individuals (HNWIs) and their families. A family office…
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Changes To Employment Pass and S Pass Requirements in Singapore [2022]
The Singapore Government has recently announced a slew of changes to the pass requirements for foreigners applying to work in Singapore under Employment Pass and S Pass. These impending tightening measures will force Singapore businesses to review their foreign hiring…
Is a Neobank the Right Option for Your Corporate Bank Account?
A Neobank is a new type of bank that doesn’t have branches, ATMs, or physical locations. They are primarily online-based and many Neobanks offer mobile banking apps as well. So should you open your corporate bank account with one? That all depends on what your needs are for your…
Why Move Your Company to Singapore?
Moving your company and its business operations to Singapore can be beneficial for a number of reasons. Singapore is one of the top destinations for business, ranking 2nd amongst 190 economies on the World Bank's Ease of Doing Business Index. This index measures reforms in 10…
7 Tips for Personal Data Protection
Personal data protection is a hot topic right now. With the recent Facebook scandal, many people are starting to ask themselves how they can protect their personal information from being sold without their knowledge. Here, we will discuss 7 tips for businesses that want to…
When The Company Goes Insolvent, What Can You Do As A Creditor?
As a creditor of a company that cannot pay its debt on time, or it probably has already become insolvent, the biggest question is 'what can I do to recover my money? This article helps to answer the question of when the company goes insolvent, what can you do as a creditor? The…