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So far Daryl has created 445 blog entries.

Starting an Import / Export Business in Singapore

For a start, you will need to know that there are two types of goods. Controlled goods and non-controlled goods. If you intend to bring goods from abroad to sell in Singapore, you must obtain import permits and licenses for "controlled goods." First, ensure that your business is registered with the Accounting and Corporate Regulatory [...]

By |2023-11-14T14:52:57+08:00March 10th, 2023|Useful Incorporation Articles|

What is a Scheme of Arrangement?

A Scheme of Arrangement is a legal procedure under which a company can make an agreement with its shareholders or creditors to restructure its operations or financial affairs. It is a mechanism provided by law to facilitate a compromise between a company and its members or creditors. A scheme of arrangement is not the end [...]

By |2023-02-22T16:17:38+08:00March 3rd, 2023|What Is...|

What should be included in a trust agreement?

A trust agreement is a legal document that sets out the terms and conditions of a trust. The following are some of the key provisions that may be included in a trust agreement: Trustee: The name of the trustee or trustees who will be responsible for managing the trust assets and making distributions to the [...]

By |2023-11-14T16:31:44+08:00February 27th, 2023|Questions and Answers|

In Singapore, what does it mean to hold company shares in trust for someone else?

To hold company shares in trust for someone else means that the registered shareholder of the shares (the legal owner) is holding the shares on behalf of another person (the beneficial owner). In Singapore, the registered shareholder is listed as the legal owner of the shares on the company's register of members, while the beneficial [...]

By |2023-11-14T16:58:14+08:00February 24th, 2023|Questions and Answers, Uncategorized|

The importance and significance of the paid up capital of a Singapore registered company

Paid-up capital refers to the portion of a company's authorized capital that has been paid for by shareholders in exchange for shares. In Singapore, the minimum paid-up capital required to register a private limited company is SGD $1. The paid-up capital of a Singapore-registered company has several important functions and significances, including: Legal Requirement: A [...]

By |2023-11-14T18:52:09+08:00February 23rd, 2023|Useful Incorporation Articles|

What is Goodwill?

In accounting, goodwill is an intangible asset that represents the excess of the purchase price paid for a company over the fair market value of its net identifiable assets (such as tangible assets, liabilities, and intangible assets like patents or trademarks). Goodwill can arise from various factors, including a company's reputation, brand name, customer relationships, [...]

By |2023-02-17T12:19:09+08:00February 21st, 2023|Accounting Bookkeeping Tax and XBRL|

Can a non-Singapore resident open a Singapore bank account?

Yes, it is possible for a non-Singapore resident to open a bank account in Singapore, although the specific requirements and processes may vary among different banks. Generally, non-residents may need to provide additional documentation to prove their identity and address, such as a valid passport, employment pass, or utility bill. They may also need to [...]

By |2023-02-17T12:04:57+08:00February 17th, 2023|Questions and Answers|
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