Hong Kong's Top Talent Pass Scheme aims to attract the world's finest professionals, boasting an impressive uptake since its launch in late 2022. Despite significant enrollment figures, these numbers don't capture the complete efficacy of the program. Amidst the Asian competition for global talent, Hong Kong is rolling out the red carpet to mitigate the [...]
Employers are required to respond to requests for flexible work arrangements within two months, providing reasons if the request is denied. Starting in December, when new tripartite guidelines are introduced, all employers must establish a formal process for employees to request flexible work arrangements. These guidelines stipulate that employers must issue their decisions on such [...]
All companies (and entities) need to appoint a Data Protection Officer (DPO). The DPO is the person who is in charge of setting the data protection policies as well as liaising with the Personal Data Protection Commission (PDPC) among other responsibilities. If you have not appointed a DPO for your company, the CorpPass Administrators for [...]
This question stems from queries that clients posed to our accounting team. As you may already be aware, Raffles Corporate Services does provide bookkeeping services. This means that clients send us their bills, invoices, receipts and other accounting-related documents to have their financial statements prepared. The financial statements are important as they are used for [...]
Different legal documents should be prepared based on the type of business structure you decide on for your business. If you decide on incorporating a company, these are the legal documents you should have. Company Constitution Shareholders' Agreement Company Constitution This document is a legal document between the company and all of its shareholders. [...]
In accordance with the Tripartite Advisory on Managing Excess Manpower and Responsible Retrenchment (TAMEMRR), it is imperative that the criteria for selecting employees for redundancy are objective and the process is executed equitably. While adherence to the TAMEMRR is not mandated by law for employers, it delineates recommended practices for progressive workforce management, emphasizing the [...]
Do note that this is about tax obligations. Namely, what needs to be filed to the Inland Revenue Authority of Singapore (IRAS). This is not the same as the filings that need to be made to the Accounting and Corporate Regulatory Authority (ACRA). There is still a requirement according to the Limited Liability Partnerships Act to [...]
A Multi-Currency Account offers the flexibility to manage and engage in transactions across different currencies within a unified account framework. Such accounts streamline the process of exchanging foreign currencies, proving advantageous for international dealings and benefiting individuals who travel frequently. Prominent banking institutions in Singapore provide access to Multi-Currency Accounts, each characterized by distinct features [...]
In the realm of business, the titles of CEO (Chief Executive Officer) and Founder carry significant weight and implications, both internally within the organization and externally in the broader business community. This analysis aims to delineate the roles and responsibilities associated with each title, their impact on company operations, and how they are perceived in [...]
Singapore generally allows foreigners to start businesses in Singapore. However, foreigners on certain passes may be restricted from starting or managing their business based on restrictions placed on that pass. Most pass holders are not allowed to manage their businesses in Singapore. This means that they are not allowed to register sole proprietorships or partnerships. [...]