Similar to the identification number of individual persons, businesses and local companies are also given a unique alphanumeric upon registration with
Frequently Asked Questions : Annual Compliance
What is a Shareholders’ Agreement?
A Shareholders' Agreement is a formal agreement between the shareholders of a private limited company. Its purpose is to govern the relationship
Can I register a business at my home address?
Yes, you can register a business at your home address, subject to certain conditions and considerations: Loss of privacy – your home address
How do I become a director of a company?
To become the director of a company, you will have to be elected by the company shareholders. In addition, to qualify as a Director in a company in
What is a qualified audit opinion?
A qualified audit opinion is a statement issued by an auditor after an audit has been done, and where there might be: Limitation of scope in
What information do I need to provide for online submission to BizFile?
To apply online through Bizfile, the following information is required: Type of company Proposed company name Principal activities
Who needs to file the Estimated Chargeable Income (ECI)?
Your company has to furnish its Estimated Chargeable Income (ECI) within 3 months after the end of its financial year end. Administrative
Why and when should companies file the Estimated Chargeable Income (ECI)?
Estimated Chargeable Income (ECI) data facilitates policy-making on a macro level, as well as the assessment of industrial performance. Furthermore,
Why do I need a registered office in Singapore?
In order to register a Singapore company, you must provide a local Singapore address as the registered address of the company. This is one of the
Who is subjected to Singapore statutory compliance?
Both local and foreign companies registered in Singapore are subjected to statutory compliance in Singapore.
Who will be liable if I do not comply with Statutory Compliance?
Directors of the company are legally responsible and accountable for complying with the requirements of the Singapore Companies Act. Failure to comply
Who does Skills Development Levy (SDL) apply to?
Skills Development Levy (SDL) is applicable to all employees, whether they are Singapore Citizen/Permanent Resident/Employment Pass/Work Pass holders.
