Update as of 24 July 2020 The new requirements for companies and limited liability partnerships (LLPs) to lodge their Register of Registrable Controllers (RORC) information with ACRA will take effect from 30 July 2020. Under the law, all companies, foreign companies and LLPs, unless exempted, are required to file the information in their existing RORC with ACRA’s [...]
Very often people do get confused by social enterprises and charities. Even though they may seem similar in nature, there are clear and obvious distinctions. For a non-profit organisation to be called a charity, it has to apply for charity status. For the sake of this article, we will use charity and non-profit organisations to [...]
A social enterprise is a business that has specific social objectives that serve its purpose. Social enterprises are still firms that aim to maximise profits while maximising benefits to society and the environment. The profits of social enterprises are primarily used to fund social programs. Social enterprises are somewhat middle ground between a traditional profit [...]
The Business and IPC Partnership Scheme (BIPS) is a scheme that allows 250% corporate tax deduction on qualifying expenses when a business' or company's employees volunteer, provide professional services to recognised Institutions of Public Character (IPCs) The employee of a business or company in Singapore can qualify for the BIPS scheme provided: he or she [...]
According to the Intellectual Property Office of Singapore (IPOS), A trademark is a sign that you can use to distinguish your business’ goods or services from those of other traders. It can be represented graphically in the form of your company’s name or logo. A trademark can add value to your business. Using a trademark [...]
Under the Personal Data Protection Act (PDPA), organisations are required to appoint at least one person as the Data Protection Officer (DPO). The broad role of the DPO is to ensure that the organisation complies with the PDPA. The DPO can either be a person from within the organisation or the organisation can appoint a [...]
The term Chief Executive Officer, or CEO, refers to the most senior executive decision-maker in the company. In many instances, the term CEO and Managing Director (MD) is used interchangeably. The Companies Act defines the CEO as a person who is principally responsible for the management and conduct of the company and its business. So [...]
The term managing director is often used to refer to a senior executive member of a company. The job scope of the managing director is not spelt out in the Companies Act. However, there is an option to list an individual as a managing director of a company in Bizfile+, the business filing portal of [...]
If a company wants to hold an Extraordinary General Meeting (EGM), it has to send out a written notice to all its shareholders to inform them of the meeting. The notice period may differ between private and public companies. If a private company would like to hold an EGM to pass an ordinary or special [...]
To strengthen fair employment practices, the Ministry of Manpower is putting in place new licence conditions for all new and existing employment agencies when they engage in recruitment work. These new licence conditions are No discrimination practices are allowed Workplace discrimination based on age, race, nationality, gender and disability is not allowed. Where discriminatory practices [...]