About Web Admin

This author has not yet filled in any details.
So far Web Admin has created 86 blog entries.

Responsibilities and duties of a director

In Singapore, every company has to have at least one director. In some cases, a company can have more than one director and this is very common. Every company requires at least one of the director to be a resident director. A resident director is a director whose normal place of residence is in Singapore. [...]

2019-01-31T12:27:02+00:00January 31st, 2019|

The importance of complying with the Constitution and the Companies Act

Singapore is one of the most convenient places in the world to set up a company. If all the documentation is complete, a company can be set up in less than a day. Once a company is set up, the responsibility is placed on the directors to adhere to the constitution of the company and [...]

2019-01-31T11:42:54+00:00January 31st, 2019|

Does my company need to appoint an auditor?

If your company qualifies as a small company, then it does not need to appoint an auditor. The company qualifies as a small company if: 1) For a particular financial year, it is a private company; and 2) If it meets 2 of the 3 following criteria for the immediate past two consecutive financial years [...]

2019-01-28T00:19:42+00:00January 27th, 2019|

The benefits of setting up an Investment Holding Company in Singapore

An Investment Holding Company is a company that derives its revenue from the management of assets such as real estate or shares of companies. In Singapore, there are many such companies and the owners of these companies come from all over the world. Here are some reasons why people from all over the world would [...]

2019-01-25T03:28:13+00:00January 25th, 2019|

Investment Holding Company

An Investment Holding Company is a company which generates its income through ownership of real estate or shares of other companies. The income could be through the sale and purchase of these assets, the rental income or the dividends received. The Accounting and Corporate Regulatory Authority (ACRA) defines this type of income as non-trade income. [...]

2019-01-25T01:00:09+00:00January 25th, 2019|

Must I maintain the paid-up capital in the company’s bank account?

Paid-Up Capital is essentially the monies which the company has received in exchange for its shares. This money must be deposited into the company's bank account and can only be used for the running of the company. For example, if a company sells 100,000 ordinary shares for SGD$100,000 to a shareholder, this SGD$100,000 must be [...]

2019-01-21T11:56:14+00:00January 21st, 2019|

How much do I have to pay in taxes as a start up company in Singapore?

If you set up a Singapore company, your company will be liable for corporate taxes and the individuals who are employed in the company will have to pay personal income taxes on the salaries that are paid to them.   In Singapore, corporate tax rates are a flat 17%. However, there are common tax reliefs [...]

2019-01-19T13:27:38+00:00January 19th, 2019|

Singapore PR scheme for individuals working in Singapore

Individuals who have been working in Singapore can apply for Singapore Permanent Residency (PR) under the Scheme for Professional/ Technical Personnel/ Skilled Workers. Under this scheme, the applicant has to be working in Singapore on an Employment Pass, Entrepreneur Pass (EntrePass) or S Pass. The individual can apply to obtain Singapore PR for his or [...]

2019-01-19T11:21:05+00:00January 19th, 2019|

XBRL (eXtensible Business Reporting Language)

XBRL stands for eXtensible Business Reporting Language and is a global framework for exchanging business information. Having a common framework to analyse data makes it easier to exchange and analyse business information of companies. XBRL allows for the generation of data which may be used by a large group of stakeholders for decision-making and analysis, [...]

2019-02-15T20:22:52+00:00January 18th, 2019|
WhatsApp chat