The accounting landscape in Singapore is undergoing rapid digitisation. Driven by globalisation, changing expectations, and technological disruptions, businesses must adapt to remain competitive. Even if Singapore already leads Asia in ease of doing business, further modernising its accounting practices is critical for future-proofing its position. The government and industry bodies recognise this imperative. Initiatives like the national Accountancy Industry Digital Plan aim to accelerate the adoption of technologies like cloud, automation, and analytics. The vision is a tech-enabled accounti ..read more

Overview: Introduction to Singapore’s Business Landscape Overview of Singapore’s Business-friendly Environment and Economic Stability Types of Business Entities Step-by-Step Company Registration Process Pre-registration Requirements: Eligibility, Permits, and Licences Understanding the ACRA’s Role in Company Registration Foreign Company Registration in Singapore Share Capital Distribution of Shares Singapore’s Tax System for Corporations Work Permits and Employment Passes for Hiring Employees in Singapore Ongoing Compliance and Reporting Requirements Banking, Funding, and Financial Compliance ..read more

Introduction to Singapore’s Business Landscape Singapore’s bustling business landscape attracts entrepreneurs and companies from around the world for several reasons. One is its stellar business infrastructure that supports enterprise. Another driver is Singapore’s strategic location and trade agreements that provide easy access to regional markets through initiatives like the ASEAN trade agreements. However, the playing field is highly competitive and requires local knowledge. This guide will provide you with key insights and essential information that will make your venture successful in the ..read more

Companies in Singapore needing to cease operations have two choices: a) striking off or b) liquidating the company. Both options have their specific procedures and implications that must be properly understood before initiating closure. Striking off is the simpler and faster method typically used by smaller or dormant companies without major liabilities. It involves removing the company’s name from the register and dissolving its legal entity. Liquidation is a more formal process where the company’s assets are realised to pay off debts before distributing any surplus. It is overseen by a court ..read more

Investment holding companies are a popular business structure for investors looking to diversify their portfolios and manage their assets more efficiently. These companies are set up to own and manage investments, such as shares, bonds, and real estate, without engaging in active business operations. When it comes to setting up an investment holding company, Singapore has emerged as a top choice for investors. Singapore’s pro-business environment, favourable tax system, efficient regulatory framework, and access to global markets and talent make it an attractive destination for setting up an i ..read more

Unexpected market circumstances and economic downturns often lead to substantial business losses. Regardless if it is a global pandemic or unpredictable market conditions, these factors significantly impact a company’s financial stability and hinder its ability to generate profits. As a result, it becomes crucial for business owners in Singapore to understand how to effectively handle and mitigate these losses. Offsetting Trading Losses Against Different Types of Earnings Offsetting trading losses against various earnings is allowed in Singapore. Companies are permitted to offset trading losse ..read more

When the incoming cash flow is not enough to meet the outgoing cash flow needs of the business, there is poor cash flow. It slows down daily operations, future investments, and your business’s overall growth objectives. Cash flow gaps happen when your business expenses exceed earnings. It may be caused by stagnant inventory, dipping sales, or dismal debt collection. Cash shortages also arise due to poor cash flow forecasting and management. However, if you are confident that your business has a positive cash flow, it must have been receiving profits faster, meeting targets in a shorter time fr ..read more

The latest Doing Business study by the World Bank Group in 2020 once again acknowledged Singapore as the second-best country in the world to do business (0.4% increase in score compared to last year’s). The city-state showed remarkable improvements in Dealing with Construction Permits and Getting Electricity topics, while it retained its ranking as 4th in Starting a Business, 1st in Enforcing Contracts, 7th in Paying Taxes, and 3rd in Protecting Minority Investors. These statistics indicate that company incorporation in Singapore is seamless and straightforward. If you are planning to start a ..read more

With increasing competition and rising costs, some Singapore companies are exploring new markets to diversify their business and boost growth. One country that has attracted the attention of many Singapore companies is Thailand, a rapidly developing economy with a population of over 71 million and a growing middle class. Thailand offers an attractive destination for Singapore companies looking to establish a company or subsidiary. Explore the benefits of setting up a company in Thailand, the key considerations, and how our team in Thailand can assist with company registration and other essenti ..read more

The Singaporean government supports small and midsize businesses (SMBs) in developing capabilities, innovations, and transformations to remain globally competitive and relevant in current and future markets. This support comes in the form of grants, support schemes, and programmes covering digital solutions, market expansion, and workforce upscaling. Learn more about these startup grants, schemes and programmes offered in Singapore. Business Capabilities Development & Transformation Leverage new and disruptive technologies and automation to increase your productivity and reduce costs. Here ..read more