First financial statement of newly company

Every Pte Ltd company is required to submit their financial statement to IRAS and ACRA annually (except certain company which able to meet exemption creteria) WHAT IS FINANCIAL STATEMENT Presentation of Financial report is governed by Singapore Financial Reporting Standards (SFRS) According to the SFRS, a complete compilation of financial statements should comprise the following
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Foreigner to register sole proprietor

What is Sole Proprietor Sole Proprietor and Partnership is sample type of business . Key different between Business and Company is Concept Separate Legal Entity DOES NOT exist in Business . Separate Legal Entity means the Company’s liability will be separate from personal asset . Why people register Sole Proprietor instead of Company ? Ease
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Compliance requirement for new Company

All Singapore registered company is required to comply with a list of statutory filing requirement . BASIC FILING REQUIREMENT WITH ACRA Annual General Meeting And Annual Return Filing 1 year after company registration, you will need to conduct Annual General Meeting (AGM) Company is required to file Annual Return (AR) within 1 month after the
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How to check is the Company name available ?

You need to ensure that desire company name is available before proceed to company name reservation . Avoid selecting names which are: identical to an existing business. undesirable i.e. names which are vulgar, obscene or offensive. prohibited by order of the Minister for Finance. How to check is my favorite company name is available WITHOUT
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Can Employment Pass holder become shareholder

Employment Pass holder is allowed to be appointed Company Director for the Employer company stated on their working visa. How about Employment Pass holder to become shareholder ? Can Employment Pass holder become shareholder of the company ? Yes Can Employment Pass holder receive director fees from the company ? Received Director fees will be
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HOW TO RECOMMENCING DORMANT COMPANY

Company can recommencing dormant company at anytime . ANY COMPLIANCE ACTION NEEDED ? YES. IRAS COMPLIANCE MATTERS Company is required to notify IRAS within 1 month from the date of commencement of business. HOW TO NOTIFY ? Please email to ctmail@iras.gov.sg together with the following : Subject title : ” Recommencement of business and request
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WHAT YOU NEED TO DO TO KEEP COMPANY DORMANT

What is Dormant Company ? ACRA definition : ” Company is consider DORMANT if NO accounting transaction occur “ IRAS definition : ” Dormant company means company does not conduct any business activities that generate income during financial year end “ Transaction does NOT have impact on dormancy of company : Interest from fixed deposit
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Representative Office for Foreigner

BACKGROUND :  MR A plan to move his business footprint into Singapore . Please advise . POINT TO TAKE NOTE Mr A is foreigner who not holding any valid pass in Singapore what is his intention ( to study market ? to setup company ?) SOLUTION To setup Singapore Representative Office (SRO) Singapore Representative Office
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