Filing Financial Statements Who Needs to File and Who is Exempted? Singapore incorporated companies (unlimited or limited by shares) which are required to file their financial statements with ACRA, will file a full set of financial statements in XBRL format, according to a minimum requirement list within the ACRA Taxonomy. Filing of Option B (Partial…
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…
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Ordinance (1889) replaced the Indian Companies Act, 1866 which was then amended a few more times before it was repealed…
Register of Registrable Controllers Introduction The Companies Act (Cap. 50) (“Companies Act”) has been amended to introduce registers of registrable controllers of companies under the new Part XIA which came into effect on 31 March 2017. These amendments are accompanied by a new set of subsidiary legislation – the Companies (Register of Controllers and Nominee…
