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October 17, 2023
Are Electronic Signatures Legally Binding in Singapore?
An electronic signature is one that allows someone to sign documents digitally as an alternative to using the traditional handwritten method. This serves as a quicker and more convenient method of agreement and saves the trouble and mess with masses of physically printed out documents. In today’s day and age where going digital and online […]
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October 17, 2023
How do I Raise Funds? What Avenues are Available to Me? What Are the Different Types of Investors?
Money is the key to any business. Without sufficient funds, it is easy for a business to fall into a downward spiral of negative consequences. The biggest reason for many small startups failing each year stems from the lack of funding or capital, as these are essential in sustaining a business and generating revenue. Hence […]
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October 17, 2023
Should I Run My Business as a Sole Proprietor, Partnership or Private Limited?
A sole proprietor business is one that is owned and controlled solely by an individual. It does not provide as a separate legal entity from the owner, and the owner has unlimited liability over the business. This means that the business can sue or be sued in the sole proprietor’s name. The owner is personally […]
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October 17, 2023
What are the Roles and Responsibilities of a Company Secretary?
According to the Accounting and Corporate Regulatory Authority (ACRA), it is compulsory for every company to appoint a company secretary within 6 months from its incorporation date, who must be a person locally resident in Singapore. This position in the company cannot be vacant for more than 6 months at any time. A company secretary […]
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October 17, 2023
The Difference Between Drawing a Salary from my Company and Paying Out Dividends
Being an owner of a company, there will come a time when there is a need to decide how to remunerate yourself so that you can reap the benefits of your profits. There are a few ways to do so, but each having its own pros and cons. You can either draw out your own […]
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July 24, 2023
What is Transfer Pricing?
Transfer pricing is the price that related parties transact goods, service and intangibles between them. Related parties could be of two sorts: Either one of them directly or indirect controls the other such as in the case of branches or head offices, or both are under a common control party such as in the case […]
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July 24, 2023
What is Withholding Tax and How Does It Affect Me and My Business?
Withholding tax in Singapore is used to collect taxes from non-resident companies and individuals who earn income sourced in Singapore. It refers to the tax withheld and paid to IRAS when a Singapore Payer makes a specified payment to a non-resident Payee for services or work done in Singapore. Singapore withholding tax is necessary for […]
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July 24, 2023
Why Should I Register for GST?
Goods and Services Tax (GST) is a broad-based consumption tax levied on the import of goods, as well as almost all the supplies of goods and service in Singapore. Companies can be registered for GST either under compulsory registration or voluntary registration. The liability for compulsory registration of GST depends on the value of one’s […]
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July 24, 2023
Why Should I Start a Private Limited Company?
A private limited company is a business that is a legal entity that is separate and distinct from its directors and shareholders. Companies can be private which limits the number of members to 50 or public where it can have more than 50 members. A private limited company is one that is locally incorporated where […]
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