1. Businesses may need to raise money for a variety of reasons in the course of its operations. This include to grow and expand into new markets, invest in new products or services to generate additional revenue streams or simply to meet unexpected expenses. 2. There are various ways that a business can… Continue reading Registering a Charge for Companies
1. As one of the world’s easiest places to do business, Singapore is favorable by many entrepreneurs to incorporate a company. It has business-friendly policies that include easy incorporation procedures, intellectual property protection, and a low corporate tax rate. The country also ranks high on the ease of doing business, with its strategic location offering… Continue reading Choosing a Company Name
1. As per Singapore Companies Act, a Singapore company must appoint at least one director. Every company also must have at least one director who is a local resident of Singapore. A company director must be at least 18 years old, of full legal capacity and not disqualified from acting as a director of a… Continue reading Resignation and Disqualification of Directors
1. All companies in Singapore are required to hold annual general meetings (AGMs). An AGM is a mandatory annual meeting of shareholders of a company. At the AGM, the board of directors will present the company’s financial statements (also known as “accounts”) before the shareholders (also known as “members”) so that they can raise any… Continue reading Annual General Meetings
1. All companies, foreign companies and limited liability partnerships registered in Singapore are required to keep a Register of Registrable Controllers (RORC) either in their registered office address or at the office of their authorised filing agent. 2. It is part of ACRA’s on-going efforts to uphold Singapore’s reputation as a trusted financial hub,… Continue reading ACRA Register of Registrable Controllers
1. If you want to operate a business in Singapore, you need to register the business with ACRA. On the other hand, when the business subsequently is not doing well, not profitable or there are disputes among the shareholders, then you may consider to close the company. In Singapore, you need to apply to ACRA… Continue reading Striking Off a Local Company
1. Under the Companies Act, all Singapore-incorporated companies are required to file Annual Returns with ACRA. This requirement is to ensure that the company’s information on ACRA’s register is accurate and up to date. 2. The Annual Return is an electronic form lodged with ACRA and contains important particulars of the company such as… Continue reading Filing Annual Returns With ACRA
1. The new Corporate Service Providers (CSP) Bill and the Companies and Limited Liability Partnerships (Miscellaneous Amendments) (CLLPMA) Bill were passed by Parliament on 2 July. 2. This new was introduced to better guard against the misuse of business entities and uphold Singapore’s reputation as a trusted place for business. 3. The key changes to… Continue reading New Corporate Service Providers (CSP) Bill Passed in July
1. The State Court has fined Li Baozhu, the sole director of Corp Nergy Pte Ltd, for failing to exercise reasonable diligence in the discharge of her duties under the Companies Act. Earlier on 11 October 2023, ACRA had cancelled Li’s registration as a Registered Qualified Individual and Corp Nergy’s registration as a Registered Filing… Continue reading Director of Corporate Service Provider Firm Fined for Misuse of Identity in the Appointment of Company Director
1. ACRA has the power to impose sanctions against Registered Filing Agents and Registered Qualified Individuals who are found to be in breach of the Terms and Conditions of registration laid out in the ACRA (Filing Agents and Qualified Individuals) Regulations 2015. 2. The sanctions include cancellation, suspension, restriction on the RFA’s use of BizFile+,… Continue reading Suspension and Cancellation of Registration of ACRA Filing Agents or Qualified Individuals
