A company is perpetual. This means that it is a going concern until there is action taken to cease its existence. A Variable Capital Company (VCC) is a type of company. This particular corporate structure will remain a going concern until the VCC is wound up or struck off. The way a VCC is struck [...]
Issued Share Capital is the total amount of shares that have been issued to shareholders. In simpler terms, it just means Issued Shares. Paid Up Share Capital or Paid Up Capital is the total amount of Issued Share Capital that has already been paid up. A simple example would be if a company is [...]
The Singapore government supports companies in many ways. One key way is supporting companies in hiring, training and upskilling their employees. This is key because Singapore does not have any natural resources. Instead, the Singapore government looks to upskill the human capital in Singapore companies. This will aid Singapore companies to have an advantage over [...]
The Annual Wage Supplement (AWS), also known as the 13th-month bonus, is a customary year-end payment in Singapore given to employees on top of their 12 months of regular salary. The AWS is typically equivalent to one month’s salary and is intended to reward employees for their yearly contributions. Here are some key points about [...]
Tax arbitrage involves exploiting discrepancies in the taxation of different types of income, capital gains, and transactions to generate profit. The intricacies of various countries' tax codes enable individuals and businesses to identify legal loopholes or restructure transactions to minimize tax liabilities. This in essence is tax planning to minimise the amount of tax an [...]
Singapore is a pivotal hub for global trade, especially for transactions spanning the eastern and western time zones. As per the latest World Trade Organization statistics, Singapore ranks as the 14th largest merchandise exporter globally, boasting a trade-to-GDP ratio of 404.9%. This guide is designed to assist those looking to establish a trading company in [...]
E-signatures are valid in Singapore (unless the exclusion applies) according to section 2 of the Electronic Transactions Act. Increasingly, businesses are using e-signatures in their daily transactions. Here are some reasons e-signatures can improve your business in Singapore. 1. Increased Efficiency Speed: E-signatures enable faster turnaround times for document approvals and contracts, reducing delays associated [...]
The amount of paid-up capital you should put into your Singapore company depends on various factors such as your business needs, industry requirements, and future expansion plans. In Singapore, there is no minimum requirement for paid-up capital to incorporate a company. However, it's essential to consider the following points when determining the appropriate amount of [...]
Non-executive directors (NEDs) play an important role in the governance and oversight of a Singapore company. While they do not have day-to-day management responsibilities, NEDs contribute valuable insights, expertise, and independent oversight to the board of directors. Here are the typical roles and duties of a non-executive director in a Singapore company: Strategic Guidance and [...]
Reducing the amount of corporate taxes your company pays in Singapore can be achieved through various legitimate strategies and tax planning techniques. Here are some effective ways to optimize your tax liabilities: Utilize Tax Incentives and Exemptions: Singapore offers several tax incentives and exemptions to encourage business growth and investment. Take advantage of schemes such [...]