How to authorise a third party to file your company corporate tax

Tax filing season is here and for some companies, that means looking for a third party with the relevant expertise to file the company's corporate taxes with the Inland Revenue Authority of Singapore. Here is a step by step guide on how to authorise a third party entity to file your corporate tax. Note: You [...]

2018-12-03T17:43:59+00:00December 3rd, 2018|

A guide to dividend payments

In Singapore, a company can make dividend payments only if it is making a profit. Dividend payments are recommended by directors of a company and will be voted on and approved by shareholders at the company's Annual General Meeting (AGM). Once these dividend payments receive the required number of votes and are approved, they are [...]

2018-11-04T21:54:34+00:00November 4th, 2018|

How to start an import-export business or a trading company in Singapore?

Many businesses involve the importing and exporting of goods. Here is a general guide for anyone out there who would like to get into the trading business.   Step 1: Register for a company and activate a Customs Account You will need an entity to engage in import and export activities in Singapore. You can [...]

2018-10-28T18:10:02+00:00October 28th, 2018|

Corporate Tax Filing

Singapore is a very attractive place to do business. It is safe, corruption-free, has a highly-skilled workforce and a very attractive corporate tax system. Singapore has a single-tier corporate tax system. There is no double taxation on the monies received by shareholders. Tax paid by a company for its chargeable income is final and all dividends [...]

2018-10-19T12:39:22+00:00October 19th, 2018|

Comparing the various Corporate Bank Accounts for startups

Every business requires a corporate bank account. As a business owner, you will need to open a corporate bank account to facilitate the collection of payments from the sale of your goods and services. You will also require an account to make payments for goods and services rendered to you. In this article, we will [...]

2018-10-18T14:09:41+00:00October 18th, 2018|

How to transfer or sell shares of a Private Company?

There may be times when you may want to sell your shares of your private company to someone. You may also want to purchase the shares of another private company. Here are some steps which should be followed. Documents required An Instrument of Transfer (An agreement between the transferor and transferee for the transfer or [...]

2018-10-18T00:53:20+00:00October 18th, 2018|

Can I use my HDB flat as the registered office of my business?

Some business owners may wish to work from home and thus may want to use their HDB flats as their registered address. HDB does allow this under the Home Office Scheme. To apply for a home office, you would need to make an application on the HDB website. The License for Home Office Scheme is [...]

2018-10-16T19:26:03+00:00October 16th, 2018|

Advantages of filing ECI (Estimated Chargeable Income) early

Estimated Chargeable Filing (ECI) is a compulsory filing requirement for companies unless the company qualifies for a waiver. There are advantages for companies that file their ECI earlier and within the qualifying period as they may opt to pay corporate taxes by instalments. The benefits for filing ECI early are: 1) Instant acknowledgement upon successful [...]

2018-10-16T17:41:42+00:00October 16th, 2018|

Shareholders’ Meetings. Shareholders’ First Meeting, AGM and EGM.

Shareholders' Meeting The meetings of a Singapore incorporated company can be divided into two sections. Shareholders' Meetings and Directors' Meetings. In this article, we will be touching on Shareholders' Meetings. The Shareholders are the owners of the company and thus have the right to decide certain on certain issues. In Singapore, certain meetings are mandatory [...]

2018-10-14T22:11:33+00:00October 15th, 2018|

First Board Resolution of a Private Limited Company in Singapore

The first board meeting should be held within the first month from the date of incorporation. At this meeting, the appointment of the first directors of the company will be confirmed. Other things to be resolved at this meeting will be the common seal (not compulsory), share certificates and statutory books. Any other matters related [...]

2018-10-14T16:38:22+00:00October 14th, 2018|
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