by Daryl Lum | Apr 2, 2024 | Glossary
Accrual accounting represents a method of financial accounting that permits a company to recognise revenue upon the provision of goods or services, before receiving payment, and to document expenses as they occur. This approach diverges from the cash basis accounting,...
by Daryl Lum | Apr 2, 2024 | Glossary
A beneficial owner refers to an individual or a collective group that reaps the advantages of property ownership, despite the legal title being registered under a different name. This term further encompasses those who possess either direct or indirect control over...
by Daryl Lum | Mar 19, 2024 | Starting a Company
The official term for this would be a Private Company Limited by Shares. The common layperson term would be “private limited”. This is a business structure that is limited in terms of shareholder and director liability. This is the most ideal for business...
by Daryl Lum | Mar 12, 2024 | Starting a Company
There are things which the company must work on post-incorporation. These are the items that a typical company needs to take note of: Opening of a corporate bank account Depositing the paid-up capital into the corporate bank account Application of licences Setting up...
by Daryl Lum | Mar 6, 2024 | Starting a Company
The simple answer as to whether foreigners can open a Singapore bank account is yes. However, the foreigner will need to be eligible to open a Singapore bank account. If these eligibility criteria are met, then there is no reason why the foreigner will not be allowed...
