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If you are a foreigner looking to start a company in Singapore, it is essential to know that a key requirement is appointing a Nominee Director to comply with local laws. This article will explain what a Nominee Director is, their responsibilities, who qualifies for the role, how to appoint one, and the potential risks involved. What is a Nominee Director Under Singapore’s Company Act, every company incorporated in Singapore must have at least “one local resident director on its company’s board at all times” for compliance purposes. These directors are responsible for overseeing and ensuring that companies established by...

It is crucial that changing the company name in Singapore should resonate with your business objectives and offerings.

To help entrepreneurs navigate their way towards the most suitable incubators and accelerators, we provide a list of top 5 incubators accelerators program in Hong Kong 2024.

Hong Kong has implemented a Unique Business Identifier (UBI) to distinguish companies and entities in transactions and regulatory processes.

To stay on track with regulations and keep things running smoothly, there are key compliance deadlines all corporations need to be aware of.

It’s crucial to plan for the transfer of shares in Singapore upon a shareholder's demise to facilitate a seamless transition to the next generation.

Enterprise Singapore's main objective is to help enterprises enhance their capabilities to be more competitive and eventually expand abroad, encouraging them to adopt the latest technology and developing strong leadership to correctly drive their growth.

Singapore, 24 May 2024 – MyBusiness in Asia (MBiA), a fully digitalized service provider supporting entrepreneurs in Singapore and Hong Kong with company administrative, legal, and accounting operations, today proudly announced our bold rebranding effort. This strategy promises to propel us into a new era of innovation and cutting-edge solutions. The rebrand unveils an exciting new chapter for MBiA, marking the culmination of a decade-long journey in establishing MBiA as the digital arm of RBA Group, a comprehensive advisory firm providing legal, accounting, tax, and consulting services to entrepreneurs and corporations across Asia. Embarking on this transformative journey, the rationale...

Through a new Decree, Vietnam authorities has implemented additional requirements for the employment of a foreign worker such as job posting for local candidates for instance.

AI requires training through Personal Data. Singapore's PDPC has proposed some guidelines to facilitate while securing the use of Data in AI. The guidelines explicitely states roles and responsibilities of the companies and organisations wishing to use personal data for AI purposes.

In this article, we will cover: Singapore has recently amended its Income Tax act by introducing the new Section 10L on gains from Sale of foreign assets effective from January 1, 2024. The purpose of this new section is to bring Singapore’s tax regime in line with international anti-tax avoidance norms and to encourage substantial economic activities to be anchored in Singapore.  Indeed, this section subjects gains or losses arising from the sale or disposal of any movable or immovable property situated outside Singapore, referred to as a “foreign asset,” to taxation in Singapore.  Prior 2024, gains from the sale...

In the rapidly evolving landscape of e-commerce, navigating tax regulations is paramount for businesses striving for success in Singapore’s burgeoning digital economy. As the Asia-Pacific region continues to witness exponential growth in online transactions, understanding the intricacies of Singapore’s e-commerce tax landscape is essential for businesses to remain compliant and competitive. In this comprehensive analysis, MBiA delves into the complexities of Singapore’s e-commerce tax regulations, providing businesses with invaluable insights to navigate the regulatory landscape effectively. Introduction: The Rise of E-commerce in Singapore With the proliferation of digital platforms and the increasing adoption of online shopping, Singapore has emerged as...

In the bustling economic landscape of Singapore, where businesses thrive amidst fierce competition, understanding the intricacies of an income statement is paramount. As a vital financial tool, the income statement offers a window into a company’s financial performance, shedding light on revenue generation, cost structures, and profitability metrics. At MBiA, we unravel the complexities of Singapore’s income statement, offering businesses a comprehensive guide tailored to their needs in the dynamic Singaporean market. Our expert analysis combines industry knowledge with cutting-edge data analytics, providing actionable insights that drive strategic decision-making and foster sustainable growth. In this article, we will cover: Key...

Amidst the global economic challenges and the ongoing impact of the pandemic, Hong Kong’s Financial Secretary, Paul Chan, has rolled out the Hong Kong Budget 2024-25 on 28 February under the theme ‘Advance with confidence. Seize opportunities. Strive for high-quality development’. The budget introduces measures aimed at boosting economic recovery, driving sector-specific growth, and providing support for small and medium enterprises (SMEs). These measures will be crucial for maintaining Hong Kong’s competitiveness in the medium to long term and ensuring sustainable growth for the city. In this article, we will provide a simplified summary to help you understand how these measures...

In a rapidly evolving digital landscape, the challenges of safeguarding personal data are ever-present and demand a robust response.  In acknowledgment of these mounting pressures, we have forged a strategic partnership with ResGuard Solutions, an esteemed industry leader renowned for its expertise in data protection and cybersecurity. Together, we aim to alleviate the burdensome complexities of achieving PDPA compliance, offering SMEs a comprehensive solution to navigate this regulatory landscape with confidence and ease.  In this article, we will cover: What is the Personal Data Protection Act (PDPA) in Singapore?  The Personal Data Protection Act (PDPA) of Singapore serves as a...

For entrepreneurs and business owners in Singapore, understanding the intricacies of the Work Permit Quota system is paramount. This guide aims to unravel the complexities surrounding foreign worker quotas, eligibility criteria, and the advantages of fostering a diverse workforce. Let’s delve into the core principles that underpin small business operations in Singapore’s dynamic economic landscape.  Deciphering Singapore’s Work Permit Quota At the heart of Singapore’s labor policies lies the Work Permit Quota, a mechanism devised to maintain equilibrium in the workforce by balancing local and foreign talent. Spearheaded by the Ministry of Manpower (MOM), this quota system delineates the permissible...