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Hire Professionals & Make Your Annual Return Filing Process a Smooth-sailing One

Filing Annual Return (AR) is a must for every Singapore-incorporated company. However, the task of filing could be a precarious one especially for the new entrant who is not well aware of the Singapore jurisdictions and its laws. This blog excerpt will outline the ins and outs of Annual Return filing with ACRA(Accounting & Corporate Regulatory Authority) in brief details. As per the guidelines of ACRA, each locally based company, regardless of types (private or public) and status (active or dormant), must lodge its Annual Return within one month of the Annual General Meeting (AGM). The...

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Why Singapore Companies should Consider Third-Party Firms for Filing XBRL Report and GST Returns

Singapore regulatory authorities continue to amend and rectify their laws and orders in order to maintain the good reputation the Republic has been holding for many years. Similarly, they do not spare any defaulter who failed to comply with their regulatory compliances. This article will throw light on two regulatory compliances such as XBRL filing services and GST submission Singapore of companies and why business should consider the assistance of professionals to fulfill these two aspects of Singapore jurisdiction. What is XBRL Filing Singapore? The full form of XBRL is eXtensibe Business...

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Is a Limited Liability Partnership (LLP) better than a Traditional Partnership?

Singapore company registration for incorporating a limited liability partnership (LLP) is useful for professionals who have enough experience and the urge to be entrepreneurs. If you are thoroughly bored with the 9 A.M. to 5 P.M. office routine then why don’t you find a like-minded partner and form a Limited Liability Partnership (LLP) in Singapore to cash on your combined experience from divers fields. SBS Consulting can help you with this task. Two or more professionals or corporate entities or LLCs can come together and form a Singapore company in the shape of an LLP. Why Form a Limited...

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Everything you need to know about Setting up a Sole-Proprietorship in Singapore

Setting up a sole-proprietorship in Singapore is perhaps the simplest process of all the incorporation processes. This is because sole-proprietorship is the simplest and the most flexible type of business structure a person can incorporate. Few Facts about Registering a Sole-Proprietorship It does not have a separate legal identity, but it covers all the compliances required to be met, to carry out any type of profit generating activities in Singapore. Moreover, the business owner remains accountable for the liabilities and debts incurred by the business. In majority of cases, the owner...

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Pros and Cons of Incorporating a Private Limited Company

A private limited company is registered under the Singapore Companies Act, Chapter 50. They are registered with ACRA (Accounting and Corporate Regulatory Authority), the registry of companies in Singapore. Unlike the other type of businesses that can be incorporated in Singapore, like a sole-proprietorship or partnership, a private limited company has a separate legal identity. Owing to this fact, the private limited company can sue or be sued under its own name in Singapore. Almost anyone above 18 years of age can incorporate a company in Singapore. The person wants to incorporate a company...

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Introduction to the Types of Companies that can be Locally Incorporated in Singapore

Singapore has a pro-business atmosphere for entrepreneurs. To make things even more attractive for incorporation in Singapore, the political framework is kept conducive. The tax rates are also very competitive here. In Singapore, a company can be incorporated in three ways. These are as a private limited company, a limited liability partnership, and a sole proprietorship. All these have different working parameters and Singapore company setup. They differ in their legal structure, as well as their ability to hire people. The decision taken by you now will have its effects on the operational...

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