Incorporating a company in Singapore offers several benefits over registering a sole proprietorship: Limited Liability: One of the primary advantages of incorporating a company is limited liability protection. Shareholders of a company are typically not personally liable for the company's debts and liabilities beyond their investment in the company. This means that personal assets are [...]
Determining the "best" place in Southeast Asia to do business depends on various factors including the nature of the business, industry specifics, target markets, and the preferences of the business owners. However, several Southeast Asian countries stand out as particularly attractive destinations for business: Singapore: Singapore is often considered one of the best places to [...]
Determining whether Singapore or Dubai is a better place to do business depends on various factors, including the nature of the business, industry specifics, target markets, and the preferences of the business owners. Both Singapore and Dubai have their unique advantages and considerations: Singapore: Strategic Location: Singapore is situated in the heart of Southeast Asia, [...]
Setting up a Special Purpose Vehicle (SPV) in Singapore can offer several benefits: Tax Efficiency: Singapore has a favourable tax regime for businesses. Income generated by an SPV may be subject to lower tax rates or may even be exempt from certain taxes, especially if the SPV is used for specific purposes like holding investments [...]
In Singapore, companies are afforded the flexibility to designate their fiscal year-end according to their specific business requirements. This can involve aligning it with various factors such as the calendar year, financial quarter-end dates, the anniversary of incorporation, seasonal patterns, or specific business cycles. Understanding the Fiscal Year The fiscal year, also referred to as [...]
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 [...]
This is a question that was posed to us by a potential client. This individual is a shareholder of a Singapore registered company. We are assuming that he has never received any dividends from the company. With reference to section 403 of the Companies Act, dividends can only be paid out from the company's net [...]
We received this question from a prospective client. He is a foreigner and is considering shifting his business to Singapore. He is looking to incorporate a Singapore company and would be looking to apply for a valid work pass for him to live and work in Singapore. This article will be answering his question in [...]
This is in response to a question posed to us in an email. We are sharing the answer in a blog post as this may be a common question for foreigners looking to incorporate a Singapore company. The requirement as stated in section 145(1) of the Companies Act is that there needs to be at [...]
A director owes fiduciary duties to his principal, i.e., his company. What this means is that the director has a duty of loyalty and fidelity to the company. This can be summarised by two rules, namely the no conflict and no profit rule. Therefore, when a director diverts business away from his company and the [...]