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How to compile a company’s financial statements

At the end of every financial year, the directors of a company will need to compile their financial statements. The financial statements can be audited and unaudited. For exempt private companies limited by shares or small companies, they may present their financial statements unaudited as they qualify for audit exemption. For exempt private companies limited [...]

2019-03-13T21:40:17+08:00March 14th, 2019|

How to reduce the share capital of a company

Share capital represents the amount that the shareholders invest in a company. Share capital may be increased or reduced. If the shares are paid for then the shares are considered paid up. If shares are partially paid or have yet to be paid up then we classify this as unpaid share capital. The shareholders holding [...]

2019-03-12T13:18:58+08:00March 13th, 2019|

How long does it take to incorporate a Singapore company?

Before incorporating a Singapore company, you will need to fill in the incorporation documents and provide our firm with the relevant identification documents. The company registration documents can be found here: https://singaporesecretaryservices.com/company-registration-documents/ Click here for the steps to incorporate a Singapore Company. Once all the documents and payments are made, our firm can incorporate the [...]

2019-03-02T00:10:58+08:00March 5th, 2019|

Can I be a director of a Singapore company if I am a dependant pass holder?

There are two parts to the answer. If you are looking to be the local resident director of a Singapore company then the answer is no as dependant pass holders are not allowed to work in Singapore. Being a local director is a form of employment. To be allowed to work in Singapore, you will [...]

2019-03-01T10:52:01+08:00March 4th, 2019|

What is a Share Certificate

A share certificate is proof of ownership of a company's shares. The persons holding the share certificates are the shareholders of the company. Shareholders are commonly referred to as owners. The preparation and issuance of a share certificate are usually done by the company secretary. The share certificate must be issued in accordance with the [...]

2019-03-01T09:40:39+08:00March 1st, 2019|

Do I need to have a common seal?

Before 31st March 2017, a Singapore company executing a document as a deed was required to affix the company's common seal on the deed in accordance with the company's constitution. The typical model constitution of a Singapore company incorporated before 31st March 2017 would state that the common seal of the company would have to [...]

2019-02-26T01:05:45+08:00February 27th, 2019|

What is a Special Resolution

There are two types of shareholders resolutions. Ordinary Resolution Special Resolution A Special Resolution is a resolution whereby the votes cast in favour of the resolution is at least three times higher than the votes cast against it. Therefore, 75 per cent of the votes is required to be cast to pass a special resolution. If [...]

2019-02-27T15:33:39+08:00February 26th, 2019|

Company director hit with record SGD$113,400 fine

A company director was hit with a record SGD$113,400 fine for multiple breaches of the Companies Act. They include failing to hold annual general meetings (AGMs) and failing to file annual returns (ARs). According to the Accounting and Corporate Regulatory Authority (ACRA), Tan Hang Song was fined SGD$113,400. The fine was nearly double the previous [...]

2019-02-26T01:58:05+08:00February 26th, 2019|

What is an Ordinary Resolution

There are two types of shareholders resolutions. Ordinary Resolution Special Resolution An ordinary resolution is a resolution whereby the votes that are cast in support of the resolution exceeds the votes that are cast against it. In short, the resolution needs more than 50 per cent of the votes to be passed. If there are [...]

2019-02-27T15:35:24+08:00February 25th, 2019|
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