Incorporate Company

The company needs to prepare relevant annual review documents in advance when conducting the annual review, including but not limited to: financial report: Director’s Report and Director’s Statement Independent auditor’s report (if applicable) Statement of comprehensive income (income statement) Statement of financial position (balance sheet) Cash flow statement Statement of shareholders’ equity Corresponding explanation of financial statements Directors’ statement. Exempt company statement (if applicable). Solvency statement. Adopt the financial resolution. Exempt audit resolution (if applicable). Consent form of company members. Other related documents.   All the documents mentioned above require the signatures of relevant directors and members.

According to the Singapore Companies Act, every Singapore company must submit an annual review report to the relevant government agency every year. These annual compliance requirements are mandatory and include the following: Financial accounting, according to Singapore accounting standards to complete the company’s accounts for the previous financial year. Prepare the company’s financial report in accordance with the Singapore Financial Reporting Standard (SFRS). Held the company’s annual shareholder meeting. If the company meets the requirements, it can also apply to not hold the annual general meeting and complete it by signing and confirming the financial report. The directors of the […]

The Singapore Companies Act requires a company to hold an annual general meeting (AGM) unless the company elects not to hold an annual general meeting through a shareholder resolution. If the company chooses not to hold the annual general meeting, all matters to be handled at the annual general meeting can be resolved by written resolution. What is an annual general meeting?   The annual general meeting of shareholders is a general meeting of shareholders held at specified intervals in each calendar year. The meeting gave company shareholders the right to participate in certain decisions that require the company’s approval. […]

XBRL (eXtensible Business Reporting Language) is an XML-based markup language used for the definition and exchange of business and financial information. After the company completes its accounts, it needs to convert the existing financial report into the XBLR format according to the XBRL format and classification requirements. During the conversion process, XBRL software will also compare and verify the company’s financial report data. Since 2014, the Singapore government has required companies to submit financial statements in Extensible Business Reporting Language (XBRL). XBRL is an XML-based format for financial documents used for business document exchange financial information. The format is open […]

A dormant company is a company registered with the Singapore ACRA (Accounting and Corporate Regulatory Authority), but the company has not had any business activities in the past financial year, and has no business income or business expenses (except the basic cost of maintaining the company’s existence) ). Such a company can be considered a dormant company.   ACRA and Inland Revenue Authority of Singapore also have corresponding policies on dormant companies.   ACRA: Dormant company can waive preparation of company’s financial report Dormant companies may be exempt from annual shareholders’ meetings The dormant company still has to submit an […]