Yes, Long-Term Visit Pass (LTVP) holders can work in Singapore, but there are stricter conditions compared to LTVP+ holders. Key Points for LTVP Holders: Work Eligibility: LTVP holders are not automatically allowed to work in Singapore. They require a Letter of Consent (LOC) to take up employment. Letter of Consent (LOC): Employers must apply for [...]
Yes, a Long-Term Visit Pass-Plus (LTVP+) holder can work in Singapore, but there are specific requirements and conditions. Key Points: 1) Eligibility to Work: LTVP+ holders are eligible to work in Singapore without needing a separate Work Pass (e.g., Employment Pass or S Pass). They only need a Letter of Consent (LOC) from the Ministry [...]
An In-depth Look at Key Legislative Changes and Their Implications Introduction The Corporate Service Providers Act 2024 and the Companies and Limited Liability Partnerships (Miscellaneous Amendments) Act 2024 represent significant legislative milestones in corporate regulation. These new laws introduce several key changes aimed at enhancing transparency, accountability, and efficiency within the corporate sector. This blog [...]
There are seven types of tax-deductible donations. Please note that not all apply to corporate donors. 1) Cash Donations for Local Causes Cash donations to approved Institutions of a Public Character (IPCs) or the Singapore Government, intended to support local community causes, are tax-deductible for corporate and individual donors. Donations to registered charities without [...]
In Singapore, donating to charities, namely Institutions of a Public Character (IPCs), provides substantial tax benefits designed to encourage philanthropy. Donations to the Community Chest will also attract the same tax benefits. Here are the main tax benefits of charitable donations in Singapore: Please note that this applies to both personal as well as corporate [...]
No. All S Pass or Work Permit holders are not allowed to be registered as company directors or secretaries. In addition, they are also not allowed to be shareholders of a Singapore company. Therefore, they cannot be registered with ACRA as company directors, secretaries and/or shareholders. If any S Pass or Work Permit holder does [...]
In BizFile+, which is the business filing system operated by the Accounting and Corporate Regulatory Authority (ACRA) in Singapore, an "Alternate Address" is an optional address that directors, secretaries, and other company officers can use instead of their residential address in public records. The alternate address must be in the same country as the residential [...]
New Contact Address Regime With the enactment of the ACRA (Registry and Regulatory Enhancements) Bill 2024 on 2 July 2024 by Parliament, ACRA will introduce the use of a Contact Address to enhance the protection of residential addresses filed with the Registrar. Currently, the law mandates that residential addresses of company officers be disclosed to [...]
A company limited by guarantee (CLG) is a type of non-profit organization, commonly found in sectors such as education, charity, and social enterprises. Since CLGs do not have share capital and thus no shareholders, they rely on alternative methods for raising funds. Here are the primary ways a CLG can raise money: 1. Grants Government [...]
Treasury Shares in Singapore refer to shares that a company has repurchased from its existing shareholders and holds in its own name. These shares do not have voting rights, do not receive dividends, and are not counted when calculating earnings per share (EPS). The concept of treasury shares is governed under the Singapore Companies Act, [...]