Incorporate Company

2019-03-08
blank

13R & 13X

13R & 13X For investments in Asia and the Pacific, Singapore is an important base for family offices, private equity, real estate, and hedge fund managers. Singapore is also the preferred domicile for a growing number of investment institutions. This is due to the excellent growth of the fund management industry in Singapore, which can be attributed to several factors, including the ease of doing business in Singapore and the attractive tax incentives for funds and fund managers. Outside of traditional offshore fund jurisdictions such as the Cayman Islands, Singapore’s regulatory and tax regime for funds is considered to be […]
Do you like it?
Read more
2019-04-04
blank

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 […]
Do you like it?
Read more
2019-04-16
blank

Employment Contract

Employment Contract After establishing their company in Singapore, many businesses need to hire local Singaporean employees. So, how should an employment contract be formulated? FOZL will now take you through the formulation of the employment contract. Singapore Basic Employment Terms and Conditions To avoid misunderstandings, it is recommended that both parties formulate and clearly state the terms and conditions of employment in employment contracts (written employment contracts or employment letters). The employment contract should include the following: • Job position • Scope of work, that is, the responsibilities that must be performed • Employment start date/ date of work • […]
Do you like it?
Read more
2019-04-17
blank

Director Resolution

Director Resolution As the director of a Singaporean company, you must hold a board meeting if you need to discuss and pass resolutions on matters relating to the current and future state of the company. FOZL Singapore has summarised tips on how to conduct a board meeting below for your reference. The objective of the Board A board meeting is a meeting of a company’s board of directors at which the directors discuss company business and pass resolutions to make decisions about the company. Such business may include. Business expansion plans Property acquisition Review of financial reports Recruitment of talents […]
Do you like it?
Read more
2019-05-03
blank

Second Directorship

Second Directorship Qualified companies can appoint EP employment pass holders of other related companies to the board of directors. Who applies: Employers who intend to appoint EP holders as members of the board of directors. Application time: within 5 weeks Documents Required: Letter of Appointment for Person Holding EP Employment Pass as Director Appointed directors need to perform the corresponding responsibilities of directors per Singapore’s Company Law. For employers: 1. You must ensure that the employer does not object to the person holding the EP pass as a director. 2. You must obtain approval from the Ministry of Manpower by […]
Do you like it?
Read more
2019-05-03
blank

Duty of Statutory Secretary

Duty of Statutory Secretary Like any other director in the company, the statutory secretary is the officer in the company and under the Companies Act, the secretary is required to do the following: Maximize the company’s profits Avoid conflicts of interest Be responsible and conscientious in their work Not obtain illegal benefits for the company through private transactions. In smaller companies, the company secretary is usually responsible for administrative duties such as recording and registering company documents and financial filings. In larger companies, the company secretary is responsible for a wider range of administrative tasks, such as ensuring that the […]
Do you like it?
Read more
2019-05-16
blank

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 […]
Do you like it?
Read more
2019-06-13

IPOS

IPOS Intellectual Property Office of Singapore (IPOS) The Intellectual Property Office of Singapore is a government agency under the Ministry of Law. The Intellectual Property Office of Singapore provides advice and management on intellectual property laws, raises awareness of intellectual property rights, and provides infrastructure to promote the development of intellectual property in Singapore. Since October 9, 2015, IPOS has been appointed as the International Searching Authority and International Preliminary Examining Authority for patent applications filed under the Patent Cooperation Treaty. International surveys agreed that Singapore’s intellectual property system is one of the best in the world. In the “2019 […]
Do you like it?
Read more
Load more