Capital is a necessity when establishing a business. However, the notion that it requires a large amount is a mere misconception. Read on to find out more about how to start a business in Singapore and how much start-up capital is needed. Starting a Business in Singapore The Lion City’s [...]
Start-ups in Singapore play a great role in keeping the country’s entrepreneurship ecosystem competitive. Not every one of them succeeds, but a majority still last more than a few years after their inception. With that said, the government continues to strengthen these enterprises, both individually and collectively by promoting the [...]
The COVID-19 pandemic has affected how people conduct business in Singapore. One of the most prominent changes is that more entrepreneurs are opting to register home-based businesses, allowing them to earn income without direct contact with other people. This article will discuss in more detail the process of home business [...]
Not all companies are created to turn a profit. In the case of non-profit organisations or charities, the best option for business owners in Singapore is to establish their enterprise as a company limited by guarantee. The key advantages of running a company limited by guarantee are the following: Includes [...]
To make it easier to classify Singaporean businesses by the types of economic activities they are engaged in, the Accounting and Corporate Regulatory Authority (ACRA) has introduced a system known as the Singapore Standard Industrial Classification (SSIC). An SSIC code is assigned to every business and is used for multiple [...]
Singapore Personal Access or SingPass is a digital signature that allows entrepreneurs to transact with over 60 government agencies in Singapore. It was launched in 2003 and is currently being managed by the Government Technology Agency (GovTech). The SingPass system is reviewed regularly to ensure that a secure transaction is [...]
One of the requirements of company incorporation in Singapore is hiring a corporate secretary. However, due to the stereotypical connotations of the word “secretary”, the role of a company secretary is often misunderstood, or worse, overlooked. In reality, a corporate secretary performs a wide range of duties that are vital [...]
The Tax Identification Number (TIN) is a general term for the taxpayer’s information that's used for government transactions. In Singapore, the information required will depend on the individual or the entity. We discuss the basics of a Singapore tax identification number in this article. Permanent residents, citizens and businesses in [...]
Company secretarial services in Singapore help ensure that a business is compliant with the country’s legislation. The providers assist in establishing the company, preserving its good compliance rate. Read more about the advantages of secretarial services in Singapore. The two main authorities that companies in Singapore need to be concerned [...]
The COVID-19 pandemic has wreaked havoc upon the operations of several top companies in Singapore, causing disruptions to supply chains, workforce, and productivity due to the enforcement of strict self-isolation measures. However, as government regulations are eased to stimulate the economy, a number of companies in Singapore have been permitted [...]
