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.…
What is a Nominee Director?
Many clients have asked us, 'What is a Nominee Director and what does he or she do exactly? Do they have any legal rights over the company?'. In this article, we will answer this question in detail. Why do I need a Nominee Director (ND)? To answer this, we need to look at the…
What is Cloud-Based Accounting Software?
As a business owner, accounting is a very time-consuming yet critical activity that you have to do. You will be able to analyse your business performance with the necessary data at your fingertips if you start off with proper bookkeeping from day 0. In today’s market, the use of…
Consequences Of Failure To File Annual Returns
What does the Act say? In accordance with Section 197 of the Companies Act, all companies need to file their annual returns on time. Failure to file annual returns will result in a Singapore Dollar SGD $300 late lodgement fee. This $300 late lodgement fee will be payable when…
How does a company pay dividends in Singapore
We hear so much of this term dividends but we seldom discuss the rules and implications associated with it. As most will know, it is basically profit (or part of it) that a company distributes to its owner(s) at the end of or during a company’s financial year. What are the types…
Singapore Companies Filing Requirements
Every year, companies in Singapore need to file with two main governing bodies, namely the Accounting and Corporate Regulatory Authority (ACRA) and the Inland Revenue Authority of Singapore (IRAS). The Singapore companies filing requirements consist of three components.…
Can Directors And Shareholders Obtain A Loan From The Company?
A director or shareholder may obtain a loan from the company, but not without certain restrictions. In general, a director cannot do so. But there are circumstances that a director or shareholder may do so if there is compliance with certain rules, to ensure corporate governance…
Are You Liable For Company Debts As Director In Singapore?
Are there any circumstances where you will be personally liable for your company’s debts as a director? The general answer will be no. That is the sole purpose of why you should incorporate an exempt private company limited by shares. The Singapore courts are not willing to…
Holding Annual General Meetings (AGMs) For Your Company
What is an Annual General Meeting (AGM)? Annual General Meetings (AGMs) are compulsory annual meetings that all Singapore companies need to hold. The primary purpose is to update the shareholders of the company on the business or financial health. Financial statements are…
A Complete Compliance Guide For Singapore Companies
Are you thinking of starting a new company in Singapore? Do you have plans to make Singapore your company's base? There are many tax benefits as well as other advantages incorporating a Singapore company, however, you also face an increment in compliance requirements. The…