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Important date for Pte Ltd Company

Posted on July 22, 2022
Posted in Company Registration Guide, Company's Compliance matters

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

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Debarment of Director

Posted on April 21, 2022
Posted in Company Director and shareholder, Company's Compliance matters

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

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What if Director not able to sign report

Posted on June 23, 2021
Posted in Company's Compliance matters

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

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Significance of a Company’s Financial Year End (FYE)

Posted on August 4, 2020
Posted in Company Registration Guide, Company's Compliance matters

Financial statements provide a snapshot of company financial insight at the particular period and it prepared based on the financial year end . Financial year end play important role in the following area : Company Tax Exemption Planing Company Decision Making Company structure reporting level Company statutory reporting compliance FINANCIAL YEAR END IN COMPANY TAX

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Filing Method for Dormant Company

Posted on July 14, 2020
Posted in Company's Compliance matters

WHAT IS DORMANT COMPANY ? ACRA exempts Dormant companies from preparing financial statements and holding physical AGMs. Company is consider Dormant if it had NO accounting transactions within a given accounting period excluding the following Appoint a company secretary Maintain a registered office, registers, and books Pay fines, penalties, or fees to ACRA FILING METHOD

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AGM : Must i attach report to ACRA ?

Posted on July 3, 2020
Posted in Company's Compliance matters

The following is 2 basic guideline you need to refer in comply filing annual return with ACRA . So is important to ascertain where your company belong to : Type of Company Financial Status What is the different between Insolvent and Solvent Company Company is INSOLVENT refer to the company unable to meet its debts

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What If I Do Not Want to Conduct AGM ?

Posted on January 7, 2020
Posted in Company's Compliance matters

To minimise the operating cost, Pte Ltd company is allowed exempted from conducting of AGM. To comply with the exempted of AGM, you need to : conduct Physical Meeting to approve dispenses off AGM All shareholder must agreed and approved ” Dispense off AGM” Company must send their financial statement to member within 5 months

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Enforcement Action for Breaches of Annual Return Filing

Posted on December 25, 2019
Posted in Company's Compliance matters

ACRA is taking serious enforcement against company who fail to file their Annual return and conduct Annual General Meeting (AGM). Other than penalty or composition fine , company may face the following enforcement : COURT PROSECUTION Attendance to Court after composition fine offered ACRA will send notice to the company registered address and offer composition

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What If i late for annual return and annual general meeting ?

Posted on October 10, 2019
Posted in Company's Compliance matters

If you are fail to comply with ACRA requirement such as failure in annual return filing, Composition fine and late lodgement fees will be imposed. So, what is the different between composition fine and late lodgement fees ? COMPOSITION FINE is imposed on Company or Company Director who committed a breach. ACRA will offer composition

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What You Need to Declare in Annual Return with ACRA

Posted on July 26, 2019
Posted in Company's Compliance matters

WHAT NEED TO BE DECLARE DURING ANNUAL RETURN ? confirmation of officer’s particular confirmation of company shareholding confirmation company principal activities confirmation company charges confirmation company registered address confirmation nature of control (where register registrable controller kept ) AGM date Solvency of Company : Solvent / Insolvent Audit status : Audited report ? Unaudited report