Posted in Business in Singapore, Singapore Business Registration, Singapore Incorporation by Admin on August 14th, 2007
A foreign company who wishes to start a business in Singapore, needs to register a Singapore branch office under the Singapore Company Act.
- The Singapore branch has to appoint 2 local agents in Singapore.
- The local agents must be ordinarily residents in Singapore i.e. Singapore Citizen, Singapore Permanent Resident, a person who has been issued an Employment Pass/Approval-In-Principle Letter/Dependant’s Pass.
- A foreigner can also act as a local agent of the Singapore branch if he has secured an Employment pass or approval-In-Principle letter from the Work Pass Division of the Ministry of Manpower (MOM).
- Any person above the age of 21 years may be appointed as an agent. However, some individuals e.g. bankrupt, with criminal records within or outside of Singapore, are disqualified from being agent.
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Posted in Company Administration, Corporate Secretarial by Admin on August 14th, 2007
The Role of a Company Secretary
A Company Secretary is an officer of the company, along with the director(s) and is responsible for “house-keeping’ duties in relation to the company. The Company Secretary takes instructions from the Director(s) and prepares the directors’ resolutions, Shareholders’ Minutes, ensures timely lodgment of the changes with the Company Registrar (ACRA), where appropriate and update the company’s statutory registers. The Company Secretary prepares and sends out notice of meetings of members/shareholders and may be required to attend these meetings to record the minutes and to also circulate the recorded minutes to the members/shareholders.
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Posted in Employment Pass by Admin on August 14th, 2007
Foreigners holding acceptable degrees and professional qualifications (whose monthly basic salary is more than S$1,800) are eligible to apply for an employment pass to work in Singapore. There are various types of employment passes, based on income bracket and qualifications:
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Posted in Offshore Business, Offshore Fund Setup, Offshore Incorporation by Admin on August 14th, 2007
Most offshore jurisdictions are free from foreign exchange controls and have tax-free and simple company legislation to cater for a diverse range of international business requirements. The most common reasons that businesses and high-net worth individuals consider using an offshore company is for:
- Asset/Investment Protection
- Confidentiality & Financial Privacy
- Reducing Tax Liability (personal or corporate)
- Estate Planning
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Posted in Offshore Fund Setup by Admin on August 13th, 2007
Starting an Offshore Fund has its complexities. If you have been a super trader with an impressive track record, it is likely that you are also seeking to enter the international investment fund arena for the first time, with ’seed capital’ of between US$500K to US$1 million. This requires starting a private fund, preferably, offshore. To start an Offshore Fund, you need to know the types of specialist services available:
Initial Fund Start Up Services
- Incorporation of an Offshore Company
- Preparation of Private Offering Memorandum (Prospectus), Shareholders’ Agreement and Share Subscription Agreement.
- Facilitation of Offshore Administration services and Private Offering Memorandum (Prospectus) and Subscription documentation.
- Preparation of investor documentation, letters.
- Vendor Due Diligence documentation
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Posted in Offshore Business, Offshore Incorporation, Offshore Trusts by Admin on August 13th, 2007
Most offshore jurisdictions are free from foreign exchange controls and have tax-free and simple company legislation to cater for a diverse range of international business requirements. The most common reasons that businesses and high-net worth individuals consider using an offshore company is for:
Asset Protection/Investment Portfolios
Offshore companies are widely used for asset protection, wealth management and to hold investment portfolios (stock, bonds, cash and a broad range of other investment products). They are also utilized for inheritance purposes, and to reduce probate expenses. Cash assets held by offshore companies earn deposit interest gross or can be placed in collective cash funds.
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