How to apply for an Extension of Time to hold an Annual General Meeting

Holding an Annual General Meeting (AGM) is a statutory requirement. However, in certain situations, a company may not be able to hold the AGM within the stipulated timeframe. If so, the company may submit an application to the Accounting and Corporate Regulatory Authority (ACRA) for an Extension of Time (EOT). The maximum extension is sixty [...]

2019-09-28T00:04:23+08:00September 30th, 2019|Useful Articles|

Filing obligations of dormant companies

The definition of a dormant company varies between the Inland Revenue Authority of Singapore (IRAS) and the Accounting and Corporate Regulatory Authority of Singapore (ACRA). The definitions are spelt out in this article: What is a Dormant Company We will break up the obligations and exemptions for dormant companies into two categories, those under IRAS [...]

2019-09-27T23:38:19+08:00September 27th, 2019|Useful Articles|

A guide to Minutes of Company Meetings

When conducting a company meeting, the minutes of the meeting are usually taken. When preparing company meeting minutes, details such as the type of meeting, date, time, meeting attendees and transacted businesses are usually recorded. The minutes of a meeting should provide a snapshot of what transpired at the meeting and the actions to take [...]

2019-09-05T10:39:24+08:00September 5th, 2019|Useful Articles|

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|