What is Important Clause inside Company Constitution

Company constitution or formerly known as Company Memorandum and Article of Association (MA) is the compulsory legal documents for all Singapore registered company . Company Constitution form binding agreement between Company and shareholder and among the shareholder themselves. You may draft your own copy or used ACRA model constitution . The following is the mandatory

TYPE OF BUSINESS VEHICLE

Keen to join Singapore Entrepreneurship ? here is the list of business vehicle option . OPTION 1 : PTE LTD According to the ACRA records, Pte Ltd is the top choice for public among others option . carry separate legal entity concept which means that it can stand alone and separate from its director and

What is SSIC code

WHAT IS SSIC CODE ? Singapore Standard Industrial Classification ( SSIC) code refer to type of principal activities for the company . And you are required to key in upto 2 major SSIC code for your company . WHY SSIC CODE IS IMPORTANT ? As a reference key for all agent to run their role

What is par value of shares ?

WHAT IS PAR VALUE ? Par value also knows as Nominal Value APPLICABLE IN SINGAPORE ? NO, it been abolished since 2006 WHAT HAPPEN TO SINGAPORE REGISTERED COMPANY ? You are only required to declare 3 important figure as follow : Example : Number of issued share shown the ownership level in the Company Amount

What is the Effect of Company Incorporation

After successfully incorporation with ACRA , Company become legal business vehicle to join business landscape. What is the effect for being Company? SEPARATE LEGAL ENTITY CONCEPT Company carry concept of SEPARATE LEGAL ENTITY between company and its shareholder . Which means that Company is able to stand alone in the eyes of law . ABILITY

ACRA court order

All Singapore registered company is required to comply with list of statutory filing requirement .Other than composition fine , ACRA will issue court order . WHO WILL RECEIVE Company and Company Appointed Director WHY ISSUE COURT ORDER Because Company fail to comply Statutory Filing requirement AFTER numerous reminder and composition fine is offered WHERE COURT

CHANGE IN EMPLOYMENT PASS SALARY

Singapore workplace is consist of worldwide foreign talent . With effect from 1 September 2020 , the minimum wages for eligible EP was raise to S$4500 per month. SALARY CHANGES REQUIREMENT IN EMPLOYMENT PASS WHY HIGHER SALARIES REQUIREMENT IN FINANCIAL SERVICES SECTOR This is the 1st time authority target increase requirement in specific sector .

How to Verify a Company Status in Singapore

There always a risk regardless where you business transaction conducting. And the most common is phantom company. So, is good that company take further step to check before enter into contract . Check Pte ltd company for FREE visit www.bizfile.gov.sg and type company name as follow : RESULT : Live company means that the company
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