About Post-incorporation Requirements After your company’s incorporation, you must fulfil tasks for a new company before starting operations. Some are setting up the statutory books, purchasing a company seal, and registering for taxes and licenses. Other tasks are related to the details of the business operations, like bank account opening, setting up your office, company…
About Variable Capital Company Incorporation Singapore is Asia’s leading fund management hub, and its growth has reached trillions of dollars. The introduction of a new corporate structure that caters to investment funds is another reason for this recognition. The Variable Capital Company (VCC) complements recent unit trusts and investment companies. These funds are the most…
About Holding Annual Meetings When you hold an annual meeting, you are complying with the Companies Act of Singapore. This compliance requirement is issued by the Accounting and Corporate Regulatory Authority (ACRA). The shareholders and its directors are accountable if their company fails to hold an annual meeting. It is strictly mandatory and there is…
About Annual General Meetings In Singapore, it is mandatory for a newly developed company to conduct their first AGM in the first 18 months of incorporation. This is to comply with the Company’s Act of Singapore. The subsequent AGM meetings must take place once in every economic year. The other meetings should be within 15…
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…