How to convert a sole proprietorship or limited liabilited partnership to a company

There are a whole host of reasons why a company structure is a more effective business structure and from time to time, sole proprietors or limited liability partnerships may decide to convert their business structure to a company. There are some pros and cons to converting to a company and these should be well thought [...]

2019-08-06T22:38:21+08:00August 6th, 2019|Useful Articles|

The Variable Capital Companies Act 2018

On the 1st of October 2018, the Singapore parliament passed the Variable Capital Companies Act. The act was assented to by the President on the 31st of October 2018. The Variable Capital Companies Act provide for the incorporation, operation and regulation of new corporate entities called Variable Capital Companies. A Variable Capital Company (VCC) has [...]

2019-07-23T15:54:19+08:00July 23rd, 2019|Useful Articles|

How to set up a Social Enterprise in Singapore?

A Social Enterprise is a typical company. It is basically a normal, typical company which is profit driven and the incorporation process is basically the same as starting a new company because a starting a Social Enterprise is starting a normal, typical company. There is no special SSIC code which companies must place on their [...]

2019-07-05T13:57:04+08:00July 5th, 2019|Useful Articles|

Why Singapore is a good place to start a business

If you were to start a business, namely in Asia, you would inevitably factor in starting it in Singapore, among others. Here are some reasons which may compel you to eventually start your business, and company, in Singapore.   1) Singapore has one of the lowest corporate taxes in the world The corporate tax rate [...]

2019-07-02T10:27:43+08:00July 2nd, 2019|Useful Articles|

What constitutes as oppression of minority shareholders and what are the remedies?

Minority shareholders are shareholders with a non-controlling stake in the company. It refers to the shareholders with voting rights but the number of shares that they hold are insufficient to have a say in the company's affairs. In most cases, this refers to 50 per cent of the company's voting shares. Shareholders with voting rights [...]

2019-06-20T11:27:45+08:00June 20th, 2019|Useful Articles|

Converting a Sole Proprietorship into a Private Limited Company

As a business grows, some business owners may want to convert their sole proprietorship into a private limited company. Here are some of the reasons why some business owners may want to make the switch.   1) To limit liabilities As a sole proprietor, your liabilities are unlimited. This means that you are liable for [...]

2019-06-12T09:49:15+08:00June 12th, 2019|Useful Articles|

Singapore Company Director’s Remuneration

Generally, a director can be remunerated in two ways, director's fees and salary.   Director's fees Director's fees are paid to the director for directorial services rendered to the company. It is not required for a company to pay its directors any director's fees but if it does, this payment has to be approved in [...]

2019-05-22T11:18:45+08:00May 22nd, 2019|Useful Articles|

Singapore Company Shares and Share Classes

The shares of a company represent ownership in a company. When a company is incorporated, the shareholders are the ones who own the company. The shareholders must also determine who owns how many shares. There are also different classes of shares with different rights. Shareholders are the ones who invest in the company and in [...]

2019-05-21T14:46:02+08:00May 21st, 2019|Uncategorized, Useful Articles|

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 [...]