April 14, 2024
Tax-deductible
A tax-deductible expense refers to a cost that can be subtracted from a taxpayer’s gross income when calculating their taxable income, thereby reducing the amount of income subject…
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April 14, 2024
Virtual Office
A virtual office is a service that provides businesses with a registered office address and administrative support without physical office space. In Singapore, companies commonly use virtual offices…
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April 14, 2024
Free Trade Zone
In Singapore, a Free Trade Zone (FTZ) is a designated area where goods can be imported, stored, processed, and re-exported with minimal customs duties and bureaucratic requirements. FTZs…
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Factoring
Factoring is a financial transaction in which a business sells its accounts receivable (invoices) to a third-party financial company, known as a factor, at a discount. The factor…
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April 13, 2024
Representative Office
A representative office is a business entity established by foreign companies in a foreign country to conduct non-commercial activities on behalf of the parent company. Representative offices serve…
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Re-domiciliation
Re-domiciliation is when a corporation or other legal entity transfers its domicile (the jurisdiction in which it is registered or incorporated) from one country to another while maintaining…
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April 13, 2024
E-commerce
E-commerce, short for electronic commerce, refers to the buying and selling of goods and services over the Internet or through electronic channels. It involves the exchange of products,…
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Neobank
A neobank, also known as a digital bank or challenger bank, is a type of financial institution that operates exclusively online or through mobile apps, without any physical…
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Global Investor Program
The Global Investor Program (GIP) in Singapore is a scheme designed to attract and retain high-net-worth individuals (HNWIs) and entrepreneurs who can contribute to the country’s economy by…
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Family Office
A family office is a private wealth management advisory firm that serves high-net-worth individuals (HNWIs) or ultra-high-net-worth individuals (UHNWIs) and their families. The primary purpose of a family…
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