Corporate Article

On the 1st of October 2018, the Singapore parliament passed the Variable Capital Companies Act. The act was assented to by the President on the 31st of October 2018. The Variable Capital Companies Act provide for the incorporation, operation and regulation of new corporate entities called Variable Capital Companies. A Variable Capital Company (VCC) has […]

There are a whole host of reasons why a company structure is a more effective business structure and from time to time, sole proprietors or limited liability partnerships may decide to convert their business structure to a company. There are some pros and cons to converting to a company and these should be well thought

Individuals who have been working in Singapore can apply for Singapore Permanent Residency (PR) under the Scheme for Professional/ Technical Personnel/ Skilled Workers. Under this scheme, the applicant has to be working in Singapore on an Employment Pass, Entrepreneur Pass (EntrePass) or S Pass. The individual can apply to obtain Singapore PR for his or

As a business grows, some business owners may want to convert their sole proprietorship into a private limited company. Here are some of the reasons why some business owners may want to make the switch.   1) To limit liabilities As a sole proprietor, your liabilities are unlimited. This means that you are liable for

Minority shareholders are shareholders with a non-controlling stake in the company. It refers to the shareholders with voting rights but the number of shares that they hold are insufficient to have a say in the company’s affairs. In most cases, this refers to 50 per cent of the company’s voting shares. Shareholders with voting rights are invited

For various reasons, you may wish to close your company. To close a company you can either wind up or strike off the local company. Striking off a company is the more straightforward option so long as the requirements are adhered to. The striking off can be done via the Bizfile+, the Business Filing Portal

If you were to start a business, namely in Asia, you would inevitably factor in starting it in Singapore, among others. Here are some reasons which may compel you to eventually start your business, and company, in Singapore.   1) Singapore has one of the lowest corporate taxes in the world The corporate tax rate

The winding up or liquidation of a company is a process whereby the assets of a company are sold and the monies collected are used to pay off its debts. After all its creditors are paid off, any remaining monies can then be distributed to the shareholders of the company. When this process is completed,

The definition of a dormant company varies between the Inland Revenue Authority of Singapore (IRAS) and the Accounting and Corporate Regulatory Authority of Singapore (ACRA). The definitions are spelt out in this article: What is a Dormant Company We will break up the obligations and exemptions for dormant companies into two categories, those under IRAS