Incorporate Company

2016-10-28
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Registered Address

Registered Address To register a company, you need a registered address in Singapore so that the company can be contacted via mail. However, it is not necessary for the registered office address to be the place where the business operates. Some companies, especially smaller companies or companies with offshore operations, may use the address of their business secretarial company as their registered office for a fee. A company with the above arrangement must confirm the contractual arrangements with its business secretarial company to ensure that the line of communication is not broken.   Under the Singapore Companies Act, if a […]
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2017-04-17
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CorpPass Account

CorpPass Account ACRA, the Accounting and Corporate Regulatory Authority of Singapore, has recently amended its regulations. After 1 January 2018, companies will need to use CorpPass to log into the ACRA website for any transactions, and Singpass can no longer be used.   From 25 March 2017, all Singaporean businesses will be required to use the new corporate digital identity, CorpPass, to conduct relevant online business with the Accounting and Corporate Regulatory Authority of Singapore (ACRA). CorpPass aims to replace Singpass as the platform for business entities to conduct business. By separating the login IDs used for corporate and personal […]
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2018-11-20
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Financial Year

Financial Year The financial year is the year in which the company performs its financial closing. In some countries, the financial year is set to end on December 31st of each year. In other countries, companies are encouraged to close their financial year in either March, June, September or December each year. For companies incorporated in Singapore, the company is free to choose the end of its financial year. So, a company’s financial year can end in any month of the year. Usually, the first financial year does not exceed 18 months. The next financial year is calculated on a […]
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2019-04-04
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Business Activity

Main Business Activity There are 2 main scopes of business that can be registered on the company registration document. The main scope refers to the two businesses that account for the highest percentage of revenue amongst the company’s various businesses. Companies are permitted to partake in businesses that are not listed in the main scope of business. **If you are dealing with restricted industries or products, you need to apply to the relevant government departments and obtain a licence. For example, food, restaurants, medical products, tobacco, alcohol, automobiles, etc.. If there is a change in the main source of income […]
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2019-05-16
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Director’s Duty

Director’s Duty Under Singapore law, any company document requires the signatures of the directors of the company to take effect. Without these signatures, a document which has been stamped with the company seal has no legal effect. In the case of a company resolution, at least two directors’ signatures are required. The board resolution requires the consent of a majority of the directors (more than 50%). If there are a large number of directors, a director can be authorized to sign the documents after the board has passed a resolution. In establishing a company in Singapore, there is no concept […]
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2020-08-17
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Why Register Your Company in Singapore?

Why Register Your Company in Singapore? Legend has it that in the 14th century, a Sumatran prince saw a magical beast, which he later learned was a lion, as soon as he set foot on the island of Singapore. In 1819, Stamford Raffles, an Englishman, shaped Singapore into a trading transit point. Singapore’s free trade policy attracted businessmen from all over Asia, the United States and even the Middle East. The country gained independence on August 9, 1965, became a member of the United Nations in September, and joined the Commonwealth in October of the same year. Singapore Overview Population: […]
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2020-08-17
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Company Types

Singapore Company Types There are many types of business entities in Singapore. Before registering, you should be aware of the kind of business entity that is best for your company. According to the Singapore Business Registration Act, all individuals or institutions conducting business in Singapore are required to register with the Accounting and Corporate Regulatory Authority (ACRA), and any details about changes in the owner, managers or business partners must be made known to ACRA within the specified time period. Singapore corporations include private and public limited companies Private limited companies can be registered with less than 50 shareholders Public companies […]
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2020-08-17
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Incorporation Process

Incorporation Process 1 Fill in the registration application form Including: company name, registered address, main business scope, registered capital, directors, shareholders 3 Company name review The company name can include words like “Singapore, Group”, but not sensitive words. 5 Open a bank account FOZL will make an appointment with the bank-to-public account manager in advance. Go through the account opening procedures immediately after your company registration is successful. During the Covid-19 period,  FOZL will provide free appointments online for customers who may not able to meet our bankers in person. 2 Sign a contract Sign a contract and pay the […]
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