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Foreigners can hold 100% ownership of a Singapore company but cannot self-register, requiring engagement of a registered filing agent to submit incorporation documents through ACRA’s BizFile+ portal on their behalf. Four mandatory requirements govern every successful application. At least one locally resident director must be appointed, with nominee director services available through registered corporate service…
In Singapore, companies have the flexibility to choose their own fiscal year end (FYE), thanks to the provisions under the Accounting and Corporate Regulatory Authority (ACRA) and the Companies Act of 1967. This decision, while seemingly administrative, plays a crucial role in shaping a company’s compliance calendar, tax obligations, and financial strategy. Your selected FYE…
Obtaining a Unique Entity Number, or UEN, is a statutory prerequisite in Singapore for businesses and other entities to obtain lawful accreditation and seamless interaction with government agencies. It enables easy tracking of an entity through the official UEN search databases to map its progress and regulatory alignment with the codified obligations. The UEN issuing…
Singapore has long been recognized as a beacon of fiscal stability and entrepreneurial success, offering a conducive environment for local and international businesses to thrive. The unveiling of the Singapore Budget 2025 further strengthens this reputation, focusing on enhancing existing programs and introducing new strategic initiatives aimed at empowering Singapore businesses of all sizes. These…
Singapore’s well-established regulatory and transparent governance system has set the gold standard for business excellence and compliance underpinned by its agency – The Accounting and Corporate Regulatory Authority (ACRA), which regulates business entities, public accountants, and corporate service providers in the state. Therefore, all the business entities in Singapore shall abide by the laws, rules,…
ACRA serves as Singapore’s national regulator governing business registration, financial reporting, public accountants, and corporate service providers, making it the central authority every entrepreneur must engage when registering a company in Singapore. The incorporation process is completed within one to three business days through the BizFile+ portal. Foreign founders must engage a licensed Registered Filing…
All eyes were filled with hope as PM Lawrence stood in front of the podium to deliver his Budget Speech of 2025. Just like the dual role that Mr. Lawrence successfully plays as the Prime Minister and Finance Minister of the State, the Singaporeans have been expecting future building while at the same time enhancing…
The Singapore government has shown openness to the foreigners living in the State as Dependent Pass (DP) holders by allowing them to study, work, own shares, and even start their own businesses adding to the state’s economic growth. However, they need to fulfil the basic eligibility criteria of being an unmarried child under 21 years…