Registration of a Local Company Basic requirements At least one local director (Singapore Citizen, Singapore P.R, Pass Holder*1); Shareholders can be any qualified individual; Appoint a Company Secretary; The amount of Share capital; A registered address in Singapore; After Registered on ACRA, you may need to open: Bank Account to make the business transactions; CPF…
About SME SME means Small to Medium Enterprise. SMEs in Singapore was previously defined as enterprises with fixed asset investments of $15 million and below for those in manufacturing, and employment size of 200 and below for non-manufacturing enterprises. The Ministry of Trade and Industry announced on 22nd March 2011, the new parameters have set…
REGISTRATION AS A PRIVATE SCHOOL The registration of private schools is currently carried out online through the LicenceOne. Please ensure the following items are completed before logging on to the online application: renovation and furnishing works are to be completed before application through LicenceOne application is to be made only by the proposed member of…
Information for Food Hygiene Officer Requirement on Food Hygiene Officer A Food Hygiene Officer (FHO) oversees and implements effective food hygiene systems which will ensure that food is prepared in a safe and hygienic manner. Having a senior staff trained as a FHO who exercises constant vigilance and supervision will enforce a high standard of…
Welcome to Topbiz.
Companies in Singapore are principally governed by the Companies Act (Cap 50). Singapore’s first companies’ legislation was the Indian Companies Act, 1866 which was introduced when Singapore was part of the Straits Settlements. The Companies Ordinance (1889) replaced the Indian Companies Act, 1866 which was then amended a few more times before it was repealed…
Company Types Different types of businesses necessitate different company setups. Before starting a business or incorporating a company, learn which type of company will work most efficiently for your business. Sole-Proprietorship A sole-proprietorship is a business owned by one person or one company. There are no partners. The sole-proprietor has absolute say in the running…
Annual General Meetings An AGM is a mandatory annual meeting of shareholders. At the AGM, your company will present its financial statements (also known as “accounts”) before the shareholders (also known as “members”) so that they can raise any queries regarding the financial position of the company. 1 Requirements for filing Annual Returns (ARs) All…
Compliance Ratings and Certificate Many companies are under the wrong impression that the non-imposition of composition sum or late lodgement fees is an indication of compliance. This is not the case. Your company will be issued with a green tick if it has held its Annual General Meeting (AGM) timely, presented up-to-date accounts at the…
Director, Secretary, CEO, Auditor Directors A director is the person responsible for managing the affairs of the company and providing it with directions. A director must make decisions objectively, act in the best interest of the company, and be honest and diligent in carrying out his duties. Under the Companies Act, the minimum number of…
