The business license is a permit released by the Singapore government agency that enables companies to conduct the business operations they register for with the Companies Registrar. Most business activities in Singapore dot not require licenses or permits in order to be carried out, the only step required being the company registration process with ACRA (Accounting and Corporate Regulatory Authority).…
Corporate governance in Singapore Singapore has based its corporate governance system on the Anglo-American pattern. Corporate governance in Singapore is based on capital market control and managerial behavior. The main regulatory framework companies rely on when conducting business operation, naming managers, shareholders and their rights is the Singapore Companies Act adopted in 1990. According to the Companies…
Applying for a residence permit in Singapore Singapore provides many investment opportunities for foreign investors but also employment possibilities for foreign citizens. Foreign citizens can become Singapore permanent residents (SPRs) by applying for an entry permit. Foreign citizens that can obtain a residence permit in Singapore are spouses and minor children of citizens, parents of Singapore…
The share capital of a Singapore company refers to the sum of money invested in the business in order to carry out its undertakings. According to Chapter 50 in the Singapore Companies Act the share capital of a company is subject to alterations such as increases or decreases if certain conditions are satisfied. The shares of a…
Singapore is aiming to become one of the biggest financial centers in Asia-Pacific by providing tax incentives to foreign companies establishing in the city-state. Not only do foreign investors benefit from tax incentives, but for those setting up holding companies in Singapore the process will take about three days only and minimum requirements. As…
The business environment in Singapore Singapore is one of the most developed cities in the world thus attracting many new foreign investors each year. The country offers a stable business environment for both local and foreign enterprisers interested in expanding or opening new companies in Singapore. Accounting is a very important part when conducting a company…
Singapore has put all its economic efforts into attracting foreign direct investments (FDIs) and creating a suitable trade environment. All its strategies have turned Singapore in one of the easiest cities in the world to do business in. Among these strategies, one can find the advantageous loans for foreign investors, the tax incentives and exemptions, the pro-business legislation and the…
Investment industries in Singapore Together with Hong Kong, South Korea and Taiwan, Singapore is considered one of the “Newly Industrialized Countries” (NICs) since back in 1970. Its manufacturing industry in particular was the one attracting the most foreign direct investment inflow. Today, Singapore is one of the most developed countries in the world hosting much more than…
Company Law in Singapore The main legal framework regarding companies in Singapore is represented by the Company Act, also known as Chapter 50 that was issued in 1994. However, certain types of companies will be referred to in other laws, such as the Limited Liability Partnership Act of 2005, the Insurance Act of 1994 or the Banking Act of 1994. Other provisions about Singapore…
The Inland Revenue Authority in Singapore (IRAS) is the institution collecting the taxes imposed to tax residents in Singapore. Singaporeapplies taxes to the following categories: - individuals; - companies; - trustees. All individuals and companies carrying out activities in Singapore are taxed on all their profits, except from profits resulted from selling capital assets.…
