A Director is an individual, who must be at least 18 years of age, who is elected by the shareholders to manage the affairs of the Company.
Frequently Asked Questions : Annual Compliance
Who is a Resident Director?
A Singapore citizen, Permanent Resident, Employment Pass (EP) holder, or Dependent Pass (DP) holder (with Letter of Consent) is considered a director
Who is not allowed to be a director?
The following persons are prohibited or not allowed from acting as a director: a person who has been convicted for fraud or dishonesty punishable
What is the time required for obtaining a business license?
Obtaining a Business License can vary from a few days to a few weeks. Some of the business licenses require approval from multiple authorities and
Which agency grants the business licenses?
This depends on the licence/permit you require. For a full list of businesses that require business licenses or permits, please refer to this
When should Skills Development Levy (SDL) be paid?
Skills Development Levy (SDL) must be paid monthly, and within 14 days after the end of the month for which SDL contributions are due.
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.
When must I file my annual returns (AR)?
Section 197 of the Singapore Companies Act (Cap. 50) states that the Annual Returns (AR) filing needs to be done within 1 month or 30 days from the
When do I need to notify the Accounting and Corporate Regulatory Authority (ACRA) about changes in the company structure or management?
The Accounting and Corporate Regulatory Authority (ACRA) has to be notified every time there is a change in the company structure, such as:
When must I appoint auditors?
A company if not exempted from audit requirements must appoint an auditor within 3 months from the date of incorporation as per Section 205 of the
Who are exempted from auditing their company accounts?
The Singapore Companies Act (Cap. 50) exempt the following companies from audit: Must have less than 20 individual shareholders No Corporate
Who and what is a director?
A director is the person responsible for managing the affairs of the company and providing it with directions. As a director, you must make decisions
