What are Financial Statements?
Financial statements are documents that provide information about the financial position, performance, and cash flows of a company. These statements are prepared at the end of an accounting period (usually annually or quarterly) and provide insights into a company's financial…
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…
The Importance of HR Policies in Maintaining a Successful Business
As a business owner, you know that it is important to have a team of qualified employees in order to be successful. But did you know that having effective HR policies is just as important? In this blog post, we will discuss the importance of HR policies in maintaining a…
How To Write A Fair Employment Contract in Singapore
The employment contract is one of the most important documents in an employment relationship. It lays out your obligations, as well as those of your employees. An employment contract that you fail to draft properly can lead to a legal battle that you will not want to be involved…
What is Singapore Payment Services Act?
The Singapore Payment Services Act (PSA) was enacted to regulate the payment services industry in Singapore. The act is enforced by the Monetary Authority of Singapore (MAS). The MAS issues licences to payment service providers (PSPs) who wish to provide payment services in…
Directors’ Duties in Singapore
The board of directors, which include the Chief Executive Officer (CEO), usually manages a company's operations. This is in accordance with the Companies Act (CA) section 157A. In this article, we will discuss what the directors' duties in Singapore are. When it comes to the…
How To Appoint Company Directors?
In Singapore, all companies are required to have a minimum of 1 director who is a Singapore resident. Hence, it is crucial for you to know the requirements on how to appoint company directors in your Singapore company. Who is qualified to be a director In order to qualify as a…
How To: Remove A Director For Singapore Companies
Company directors have an important role in the company's business operations. There are a few ways an individual can stop being a director either through resignation, termination or disqualification. In this article, we will discuss the necessary steps and procedures to remove…
An Overview of The Personal Data Protection Act (PDPA) In Singapore
Globally, data protection laws are coming into force. This includes the EU’s General Data Protection Regulation (GDPR), Brazil’s Lei Geral de Pretecāo de Dados Pessoais (LGPD), Thailand’s Personal Data Protection Act (PDPA), India’s and Indonesia’s proposed bills, California’s…
How to hold AGMs online during COVID-19
This article aims to give you an idea of how to hold Annual General Meeting(s) (AGMs) online or virtually during COVID-19. All private companies, unless exempted, must hold their AGMs after the end of the companies' Financial Year End (FYE) within a timeframe of six months.…