Incorporate Company

2019-06-19
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Tax for Non-Resident Director

Tax for Non-Resident Director Whether withholding tax is applicable depends on the residency status of the board director.   Board Director For tax purposes, a board director is a member of the board of directors of a company.   Residency Status of Board Director Physical presence in Singapore in the year preceding the Year of Assessment (YA) Residency status Withholding Tax required Less than 183 days  Non-Resident Yes, for remuneration paid to non-resident director. For details, refer to Tax Obligations for Non-Resident Directors  183 days or more Resident No. If tax has been withheld, see also Tax Refunds for Resident Directors   Executive Director […]
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2019-11-09
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Liquor Licence

Liquor Licence According to Singapore law, all companies or individuals who wish to import, wholesale or retail liquor are required to obtain the relevant licence or permit. As liquor is a strictly regulated product, a liquor licence needs to be filed with the Singapore Police Force. Each licence has its own restrictions, such as the method of sale (wholesale, retail), the place of sale, the hours during which the sale is permitted, and so on. If you violate the relevant regulations, the following penalties may apply: Fines not exceeding $ 20,000; Imprisonment not exceeding 3 months; In cases of repeated […]
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2019-11-20
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Food Import Licence

Food Import Licence All companies wishing to import, export, or trans-ship food products must be registered and licensed by the Singapore Food Authority in accordance with the relevant laws of Singapore. Permits are required for the following. Import, export, or transit of meat and fish products. Import or transit of fresh fruit and vegetables. Imported fresh edible eggs   Also, registration is required in the following cases. Import of processed food and food utensils (e.g., pots, blenders, rice cookers, etc.). For more information, see the Food and Food Products Category Guide: https://www.sfa.gov.sg/food-import-export/general-classification-of-food-food-products   Companies that need to apply for registration […]
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2020-03-19
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Financial Year(FA)

The financial year is the executive year of the company’s financial settlement. In some countries, the financial year is stipulated to end on December 31 of each year. In some countries, the company is encouraged to end the financial year in March, June, September, or December each year. Companies incorporated in Singapore are free to choose the end of the financial year. Therefore, the financial year of the company can end in any month of the year. Normally, the first financial year does not exceed 18 months. The following financial year is calculated in 12 months. If the company has […]
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2020-03-19
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Registration address

Singapore company registration requires a Singapore registered address. This is so that letters and documents can reach your company address and make it easier for others to contact the company. However, the company’s registered address does not have to be where your business actually operates .   Some companies, especially smaller ones or offshore companies whose shareholders are not in Singapore, use the address of their business secretarial service company as their registered address after payment. This arrangement is perfectly fine as long as there is an actual registration Address as a way to contact the company. When a company uses the address of its […]
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2020-03-19
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Corppass

ACRA, Singapore’s Accounting and Corporate Regulatory Authority, recently issued an updated requirement! After January 1, 2018, Singapore companies need to use CorpPass to log in to the Singapore Accounting and Corporate Regulatory Authority website for any transactions, and Singpass will no longer be allowed to use as a corporate identity. Editor Fu Zhilin specially shared this dry goods with everyone ~ let’s take a look together!   From March 25, 2017, all Singapore companies will need to use the new corporate digital identity CorpPass to conduct related online business with ACRA , the Singapore Accounting and Corporate Regulatory Authority . The launch of CorpPass is intended to […]
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2020-03-19
【新加坡公司注册小知识】新加坡公司的法定秘书到底干什么活儿呢？

Nominee Secretary

When registering a company in Singapore, you need a Nominee Secretary. The Nominee Secretary is not an ordinary office secretary! All companies registered in Singapore need to have at least one resident staff in Singapore as the company’s Nominee Secretary when registering. It is the responsibility of the company’s board of directors to appoint a company secretary and determine the salary package for that secretary. Company directors need to ensure that qualified people are selected as the company’s Nominee Secretary.       Finding a qualified Singapore resident as the company’s Nominee Secretary is to ensure that this person understands […]
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