Singapore

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...

Singapore is well-known for its pro-business environment, offering a range of tax benefits designed to attract entrepreneurs and companies from around the world

Choosing the right company name is a crucial first step when starting a company in Singapore. It’s essential to ensure that the name you select is unique and complies with the requirements of the Accounting and Corporate Regulatory Authority (ACRA). This article will guide you through the process of checking the availability of your desired company name and outline important considerations when doing so. Overview: The Importance of Company Name Checks in Singapore Before you register your business in Singapore, it’s critical to verify that your preferred company name is available and compliant with ACRA regulations. Choosing the right name...

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

Our following in-depth guide provides a simplified approach that navigate the incorporation in Singapore with confidence.

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

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.

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 this article, we will cover: In his address on February 16th, Deputy Prime Minister and Minister for Finance, Mr. Lawrence Wong, unveiled the Singapore Budget Statement for the Financial Year 2024, providing crucial insights for businesses. Acknowledging the challenges of the preceding year marked by global economic uncertainty, Minister Wong emphasized Singapore’s resilience amid subdued global growth, with the economy expanding by a modest 1.1%. Against this backdrop, the budget outlined strategic measures aimed at bolstering businesses and fostering economic growth within Singapore. The measures impacting companies have been split into 2 categories, below is a clear and simple...

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...

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...

Singapour est le principal hub financier et économique de l’Asie du Sud Est. Une grande majorité des entreprises internationales implantées dans la région en ont fait leur siège régional. De même de nombreux entrepreneurs étrangers, des startups et des PME s’y développent.   Singapour est un pays dont la stabilité économique et politique ainsi que le droit des affaires sont parmi les plus favorables aux entreprises.   Singapour est aussi l’une des destinations les plus attrayantes pour les entreprises et les investisseurs, grâce à son taux d’imposition des sociétés faible et compétitif, à son vaste réseau de conventions fiscales et à ses diverses...

legal requirements company set up Singapore in 2023: That Singapore is one of the most competitive economies is not in doubt. Perhaps this explains why it’s a popular destination for businesses that want to establish and expand into the rest of Asia. Setting up a company in Singapore requires a comprehensive understanding of the legal requirements involved. Singapore, just like other jurisdictions, has a well-established legal framework. This legal framework governs company formation and operation and ensures a transparent and business friendly environment. By complying with the set legal requirements, entrepreneurs and businesses can enjoy a wide range of benefits...