Every company in Singapore has a company constitution. This essentially is the "rule book" of the company. It sets out how the company does its business and how it deals with matters especially with regards to the conduct of directors and shareholders. You can retrieve the model constitution from this link: https://sso.agc.gov.sg/SL/CoA1967-S833-2015?DocDate=20200124 The model constitution [...]
For the last year, our company has been recommending Aspire to clients who are looking for a digital bank account. We wrote an article about digital banks which can be found here: https://www.singaporesecretaryservices.com/what-is-a-digital-bank/. The main draw for most was that Aspire's corporate account is free. There were no monthly or annual charges. Moreover, there were [...]
A Shareholders Agreement is a legal document binding the shareholders. It spells out the legal rights and obligations of the shareholders and their relationship with each other. A Shareholders Agreement is to complement the company's constitution. It should add additional rules and regulations that are not covered by the constitution. The Shareholders Agreement binds the [...]
Here is a guide to setting up a Singapore company with Little Big Secretary Services Pte Ltd. We are an ACRA Registered Filing Agent and we provide corporate secretarial and accounting services. Setting up a company in Singapore is relatively straightforward and quick. Here is a breakdown of the cost and timeline for incorporation as [...]
If you are thinking of incorporating a company or your company is already incorporated, here is a list of compliance requirements that all company directors should ensure that the company adheres to. Do note that it is the duty of the company directors to ensure that the company is following the regulatory requirements. Appointment of [...]
When starting a business entity, entrepreneurs are often faced with the dilemma of whether to start a Limited Liability Company (LLC), More commonly known as Private Limited Company, a Limited Liability Partnership (LLP) or Sole Proprietorship. In this article, we will discuss the differences between the three and spell out the advantages and disadvantages of [...]
Setting up a spa in Singapore can be a rather profitable business given the affluent nature of the population. This article will spell out the required licences as well as the requirements when setting up a spa in Singapore. The Massage Establishment Act states that a Massage Establishment (ME) License is required in order to [...]
Paid-up capital is the amount of money a company has received from shareholders in exchange for shares. In Singapore, companies can have as low a paid-up capital as SGD$1. In this instance, the company has received SGD$1 for perhaps 1 share of the company, assuming that the company is denominating one share at SGD$1. Let [...]
Singapore is a very open economy and we do welcome individuals from all over the world to open companies in Singapore to do legitimate business. Foreigners can fully own a Singapore company. A foreigner can also apply for a valid working pass to become the local director of the Singapore company. Being open and pro-business [...]
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 [...]