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How do I amend my Company’s Constitution?

According to Section 26(1) of the Companies Act, "Unless otherwise provided in this Act, the constitution of a company may be altered or added to by special resolution." Usually, companies will adopt the model constitution as provided in the Companies Act upon incorporation. As a company progresses, it may decide to make changes to the [...]

2019-02-19T15:22:15+08:00February 21st, 2019|

What is the Register of Nominee Directors

From 31st March 2017, it is compulsory for all companies, unless exempted, to have a Register of Controllers and a Register of Nominee Directors. The Accounting and Corporate Regulatory Authority (ACRA) or relevant government bodies like the police can compel a company to hand over these registers for inspection. If these registers are found not to [...]

2019-02-27T15:45:58+08:00February 20th, 2019|

How much paid up capital should I put when incorporating my company?

The common question we get when clients look for us to incorporate a Singapore company is regarding paid-up capital. In a nutshell, paid-up capital is the amount of money that the company has received in exchange for its shares. Shares can be paid-up or not paid-up. A company is a separate entity from the shareholders. [...]

2019-02-19T17:12:06+08:00February 19th, 2019|

When can a director be disqualified?

A director of a Singapore company can be disqualified when: The director becomes bankrupt. The director is convicted of an offence involving fraud or dishonesty that is punishable with an imprisonment term of 3 months or more. The director has been convicted for 3 or more filing offences under the Companies Act within a period [...]

2019-02-18T03:01:24+08:00February 19th, 2019|

How to remove a director from a Singapore company

For certain reasons, a company may wish to remove a director. Some of the reasons may be: Poor performance Breach of duties to the company Negative limelight on the individual   In a private company According to the Companies Act, the removal of a company director is through an ordinary shareholder's resolution. This is provided [...]

2019-02-18T02:32:42+08:00February 18th, 2019|

Can I pay myself dividends instead of salary and save on taxes?

To answer this question, we will need to know the tax rates and we will also need to set a few assumptions.   Here is the Singapore Resident Tax Rate:   Singapore has a flat rate of 17% for Corporate Taxes. Here are some Common Tax Reliefs for companies. You should be familiar [...]

2019-02-15T20:19:22+08:00February 11th, 2019|

What is a Dormant Company

The term dormant company has a different meaning for both the Inland Revenue Authority of Singapore (IRAS) and the Accounting and Corporate Regulatory Authority of Singapore (ACRA). IRAS defines a dormant company as a company having no revenue during the financial period. The company may still be dormant even though it has incurred expenses. ACRA [...]

2019-02-27T15:51:20+08:00February 11th, 2019|

Closing down your Singapore Company. Winding up and striking off a company.

Certain companies may decide to close down for a variety of reasons. These companies may have ceased business and the shareholders and directors may decide that they would like to close down the company. Some other reasons might include unprofitability of business, the retirement of key personnel and disagreements among key members in the company. [...]

2019-02-11T03:07:34+08:00February 11th, 2019|

Steps to incorporate a Singapore Company

Here are the steps to incorporating a Singapore Company. It will take approximately 1 to 2 days to incorporate a Singapore Company. If you are a Singaporean or Singapore Permanent Resident who is living in Singapore and will be the sole director and shareholder of the proposed Singapore Company, the timeframe to incorporate can be [...]

2019-02-09T02:24:06+08:00February 9th, 2019|
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