List of selected articles by Singapore

When registering a company in Singapore, businesses must meet three key requirements:

• Appoint one company director and/or nominee director
• Provide a registered office address in Singapore
• Appoint a company secretary.
Among these, the company secretary plays a crucial role in ensuring compliance with Singapore’s legal and regulatory framework.

Singapore has always been known as the economic center of Asia and is continuously praised as "the land of a thousand opportunities" by The Economist - the most famous business magazine in the UK.

Establishing a company in Singapore - opening a bank account in Singapore to take advantage of incentives, open policies, reputable financial system in Singapore, convenient when doing business with international partners and customers is the choice applied by many investors. 

Singapore has long been known as one of the world's leading financial centers, attracting thousands of businesses to invest and do business. One of the important factors contributing to this attraction is the simple, transparent and stable tax system.

Singapore is one of Asia's leading financial and economic centers, attracting thousands of foreign workers every year. With a professional working environment, attractive salaries and a transparent legal system, this island nation has become an ideal destination for professionals, entrepreneurs and highly skilled workers. The Singapore government is also constantly improving its labor and visa policies to attract talent from all over the world. 

According to the latest information updated on the international electronic payment situation, in 2019, the value of electronic payments in the world reached 4.100 billion USD and is estimated to reach 6.700 billion USD by 2023.

Choosing the right type of company is crucial when starting a business in Singapore. It affects your taxes, liabilities, ability to raise funds, and long-term growth.

<p>Singapore is one of the top financial and business hubs in Asia. Every year, thousands of foreign businesses choose to set up companies here.</p><p></p><p>The country offers a transparent business environment, attractive tax policies, and modern infrastructure. These factors make Singapore an ideal choice for companies looking to expand internationally.</p><p></p><p>So, why do more and more overseas business owners prefer Singapore? Let’s explore 7 key benefits of opening a company in Singapore.</p><p></p> 

With a strong economy and favorable international connectivity, Singapore offers countless opportunities for investors and entrepreneurs.

Companies incorporated in Singapore are required to submit a number of annual reports to the Inland Revenue Authority of Singapore (IRAS) to inform them of their financial and operational performance. The reports include Estimated Taxable Income (ECI), Corporate Income Tax Report (Form C/CS), and several other reports. However, ECI and form C/CS are the two most important reports that businesses in Singapore need to pay attention to. Late submission or failure to submit ECI and form C/CS on time will result in various penalties that can affect the business of the company. 

In Singapore, foreigners are allowed to buy houses for living or investment purposes since 19 July 7, based on the Residential Property Act (RPA).

Singapore is known as the leading country in Asia that always applies modern technology in all fields, especially in the business field. According to Transparency International (TI), Singapore is in the top five countries in terms of friendliness and transparency in the business environment thanks to the efforts of the Singapore government over the past time. In particular, BizFile+ was created by ACRA (Accounting and Corporate Regulatory Authority of Singapore) with the purpose of storing and providing information on businesses established in Singapore to increase transparency and public information on businesses in the market. Information about companies established in Singapore and registered with ACRA can be extracted electronically directly from the ACRA Bizfile+ transaction portal.

Singapore – one of the most prosperous countries in Asia – is not only famous for its developed economy but also for its cultural and social diversity. 

Singapore is Asia's leading financial and commercial hub, where international businesses seek market expansion opportunity. To connect effectively and get the support you need, joining business associations here is an indispensable step.

After Singapore company registration, besides using the Director and Secretary Services, office services, many GLA customers also want to register a phone number in Singapore and roam to Vietnam to be able to quickly respond, care for, advise, and reflect to their international customers.

In Singapore, most businesses pay their taxes on time; partly due to the rule of law in the country, and partly due to the severity of penalties for late/non-payment. In addition to fines, the Inland Revenue Authority of Singapore (IRAS) also applies enforcement measures if businesses continue to fail to meet their tax obligations.

Singapore, as a leading logistics hub in the world, is attracting attracting many businesses eager to enter the market. However, setting up a logistics company here involves complex procedures and intense competition.

In order to encourage foreign businesses to invest and establish companies in Singapore, the Singaporean government will have tax incentives for newly established companies; however, The company needs to meet the following requirements: 

• The number of shareholders must be less than 20.
• At least one individual shareholder holds 10% of the company's total shares.
• It must be established in Singapore.
• Must be a tax-paying citizen of Singapore.

When a company meets the above requirements, it will receive the following benefits:

During its first three years of operation:

• The first 100,000 SGD in profit will be tax-exempt at 75%.
• The next SGD 100,000 will be tax-exempt at 50%.

Amounts of SGD 201,000 or more will be subject to the regulations. Corporate income tax is 17%.

From the fourth year onwards: 

• The first 10,000 SGD in profit will be tax-exempt at 75%.
• With the subsequent profit of S$190,000, 50% of the profit is tax-exempt. 

Learn about taxes for companies in Singapore. It's a complex task, but understanding the taxes and tax policies applicable to your company in Singapore is key to smart financial planning.

Accounting standards are an important foundation for businesses to maintain transparency and comply with financial regulations. In Singapore, companies must apply Singapore Financial Reporting Standards (SFRS) – a system based on IFRS to ensure consistency and reliability in financial reporting. So what is special about SFRS? Can small businesses apply simpler standards? Find out to ensure your company always complies with Singapore corporate accounting regulations effectively.