What is the date you need to remember or is important for compliance purpose ? DATE OF INCORPORATION (DOI) Is important because based on date of incorporation you can decide financial year end . Example : DOI is 23 June 2022 12 months later will be 30 May 2023 which will be your 1st financial
. Every Pte ltd have list of appointed officer ( director, company secretary , auditor ) and each of them holding different responsible role towards company . List of officer is engaged under Company name and in return company paying salary/ services fees for their services . Question : Is director consider self employed ?
Who is consider as Non resident director ? Non resident director refer to someone who do NOT have legal visa to stay long in Singapore . or who stay in Singapore LESS THAN 183 days Is Employment Pass holder consider as Non resident director ? No, because they have valid working visa in Singapore .
WHAT IS DEBARMENT OF DIRECTOR ? ACRA will debar the director to take any NEW appointment from the debarment date REASON OF DEBARMENT FAILED to file the relevant documents at least 3 months after the prescribed deadline DEBARMENT PROCESS ACRA will send notice to the relevant director and director is given chance to defence himself
If you are engaged as company director services , you must wondering ” Will i liable for the company liabilities / debt ?” You may argue that Pte Ltd is carry separate legal entity concept, so i free from all the company’s liabilities. But there is always exemption scenario : When the director acting as
Popularity of Pte Ltd is always ahead of sole proprietor . Why ? TAX RATE ON COMPANY VS PERSONAL Company will be tax at a flat rate of 17% of its chargeable income. Click here for basic guide in Corporate tax Whereas all profit from sole proprietor will be tax on personal level. The higher
How to manage compliance requirement if you are NOT in Singapore ? What is the solution ? With the help of Corppass Every singapore registered company is required to register with Corppass right after incorporated with ACRA Information needed before apply for Corppass ? Company UEN number Singpass Who authorised to apply for Corppass ?
How many shares should a newly registered company issue? Is common question for all business owner . Number of share represent total fund you willing to invest into Company . With effect from 2006, Companies Act had abolished par value of the share , which means that value of shares is varied and is decided
If you intend to register Company with your owned name as your NRIC , then you are EXEMPTED from register with ACRA Scenario will be different if you include wording as follow : ” Love from Tan Ah Moi “ OR ” handmade from Tan Ah Moi” All the above is required company registration with
SCENARIO Company A have 2 director but 1 of the director lose contact . How to apply report to be sign by 1 director ? Companies Act Requirement Company with 2 appointed director, report must be signed by BOTH director unless is single director company So , how to comply ? Application for relief from