Judicial Management in Singapore When a company cannot pay its debts when it is due, they may opt for judicial management as a mechanism to enter a temporary moratorium against creditors claim. The judicial manager may then make a decision to propose to achieve one or more of these purposes, such as: (a) the existence …
Despite the general rule that the company is a separate legal entity from its members, there are circumstances when the courts are sometimes asked to “lift the corporate veil” and allow claims to be made against certain corporate participants as individuals such as decision-makers for the debts or obligations of the company. Lord Denning aptly …
Running a small business requires wearing many hats: Problem solver. Communicator. Financial whiz. Marketing genius. You name it! Why not take some of the load off with business apps? Apps are changing the face of business. They’re becoming more prevalent and more powerful, as they help businesses manage a number of tasks, including viewing documents …
Normally, first-time entrepreneurs in Singapore start a business by registering a sole proprietorship. This business structure is the most preferred among new entrepreneurs because when compared to others: It has less strenuous registration procedures It has much lesser administrative expenses, It has no burdensome compliance requirements to fulfil. However, a sole proprietorship setup also has …
Converting Sole Proprietor to a Private Limited Company Read More »
It’s a big decision to recruit a third party to manage any part of your business, and you shouldn’t take it lightly. If you choose the right outsourced specialists, your business has the potential to improve significantly. On the other hand, if you select the wrong outsourced service provider, you risk causing irreversible damage to …
The Ultimate Guide to Outsourcing Accounting & Bookkeeping Processes Read More »
Globally, Singapore is one of the most favourable countries to set up a profitable business. Establishing your company in this location comes with many key benefits, such as a stable political system, tax incentives, futuristic banking technology, open-minded foreign policy, etc. Furthermore, the company registration process in Singapore is perfectly automated and business owners can …
The Ultimate Guide to Hiring a Nominee Director in Singapore Read More »
Singapore is a very attractive place for entrepreneurs to set up a business. Business-incubating infrastructure, tax incentives, cash grants, or financing schemes; everything that a new company desires, Singapore has it. The city-state’s business-friendly regime is mainly because of the abundance of grants and incentives available to various businesses. Historically, grants and incentives are usually …
The Ultimate Guide to Government Grants in Singapore Read More »
If you have been thinking about moving to Singapore for work, among the various questions that you need to answer before making the move revolves around having an Employment Pass. The Singapore Employment Pass (EP) acts as a work visa that allows foreign professionals to work in the city-state in certain specialized, managerial or executive …
Globally, Singapore is recognised as an economic powerhouse. The city-state boasts of an enterprise-friendly environment that continues to attract entrepreneurs, investors, and corporations. With the vision of building a Great Workforce and a Great Workplace for Singapore, the Ministry of Manpower (MOM) has excelled in formulating and implementing effective labour law policies for the city-state. …
Singapore has a vast number of expats moving in for a number of reasons. This is because of its booming economy, cosmopolitan setting, and vibrant culture that generates a wide-ranging opportunities. Several expats choose to come to the city-state to either find a good job or start a business. This explains the reason for having …
Ever questioned yourself about what a dormant company is? What are the transactions allowed by ACRA for a dormant company? Are you still required to file with Accounting and Corporate Regulatory Authority (ACRA) and the Inland Revenue Authority (IRAS) despite your company’s dormant status? In Singapore, dormant companies are defined according to the regulations imposed …
Dormant Company Filing Requirements in Singapore Read More »
How do you ensure you have enough Singaporean employees to hire the foreign staff you need? Once you incorporate a Singapore company, hiring employees is one of the most important milestones that require well-calculated decisions. While many employees nowadays are aware of their rights and related stipulations in the Singapore Employment Act, employers should be …