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About the Risks and Benefits of Nominal Director Service All companies that are registered in Singapore should have at least 1 director who is a resident. This regulation is according to the Companies Act. If the person is a foreigner and incorporates a Singapore company but does not have a local person who acts as…
About Penalties of Directors Global businesses are starting to centralize their functions in the financing department, wanting to improve their efficiency. They will do this by putting their finance and reporting functions in a shared service centre rather than replicating the whole functionality structure in each country. The change is because of the necessity to…
About the Companies Act for Directors and CEOs The Companies Amendment Act was passed in October 2014, causing the Companies Act to have sweeping amendments. In fact, it contains the most changes since its introduction in 1967. The changes are to lessen the burden companies experience with regulations, provide better business flexibility, and improve Singapore’s…
About the Financial Reporting Duties It is important to have quality financial information to create strong and successful markets. The different sectors want reliable and timely financial reports to picture the business accurately. The reports they ask for could be for generating value or understanding what the risks are. Over the years, businesses have begun…
About Removal of Directors According to what it says in the Companies Act, the removal of directors depends on the ordinary resolution of shareholders. The term “directors” in this context refers to the directors of the company. This happens when the company constitution does not have other provisions. The shareholders must give a 14-day written…
Innovative Approach to Medical Cost & Technology – 3E Accounting Covid-19 has given new meaning to the axiom of “Health is Wealth”. One of the key pillars of the Singapore healthcare system would be Medishield Life. Medishield Life is a key clog in the machinery which made Singapore work and where serious illness doesn’t bankrupt…
What to Know About the Singapore Budget for HR Department The Singapore budget for HR department was announced to the public in February 2019. It is considering the elections that happened in early 2020. Most of the initiatives are in favour of enabling a business continuity despite the epidemic and recession. Singapore has enhanced its…
Things You Should Know When Creating a Job Ad in Singapore Once you are finished setting up a company in Singapore, it is an important milestone to hire employees and make sure they are the right ones. That is deciding on who to welcome in your company involves serious decision making. When you are looking…