by Willie Tan | Mar 22, 2024 | Glossary
The Central Provident Fund (CPF) is a comprehensive social security system in Singapore that helps Singaporeans save for retirement, healthcare, and housing needs. It is a mandatory savings scheme for working Singaporean citizens and permanent residents, as well as...
by Willie Tan | Mar 22, 2024 | Glossary
A Certificate of Residence (COR) is a document issued by the tax authorities of a particular country to certify that a person or entity is a tax resident of that country for a specific period. The purpose of a COR is primarily to help prevent double taxation on income...
by Willie Tan | Mar 22, 2024 | Glossary
The Common Seal, also known as the Corporate Seal or Company Seal, is an official seal used by corporations, organisations, or other legal entities to authenticate or validate documents and agreements. It typically bears the company’s name, logo, and other...
by Willie Tan | Mar 22, 2024 | Glossary
An Annual Report is a comprehensive document that provides detailed information about a company’s financial performance, operations, and activities over the past fiscal year. It serves as a communication tool between the company and its stakeholders, including...
by Willie Tan | Mar 22, 2024 | Glossary
An Annual General Meeting (AGM) is a mandatory meeting held once a year by a company’s board of directors and management to update shareholders on the company’s performance, financial status, and plans. AGMs are typically required by law or the company’s bylaws and...
by Willie Tan | Mar 22, 2024 | Glossary
An audited financial statement is a set of financial documents that have undergone examination and verification by an independent auditor. This audit process involves a thorough review of the company’s financial records, transactions, and internal controls to...
by Willie Tan | Mar 22, 2024 | Glossary
ACRA stands for the Accounting and Corporate Regulatory Authority https://www.acra.gov.sg/. It’s the national regulator for business entities, public accountants, and corporate service providers in Singapore. In short, they help ensure businesses in Singapore...
by Willie Tan | Mar 22, 2024 | Glossary
The Singapore Companies Act is the primary legislation governing the incorporation, administration, and regulation of companies in Singapore. It provides the legal framework for corporate governance, management, and compliance requirements for companies operating in...
by Willie Tan | Mar 22, 2024 | Glossary
A balance sheet is a financial statement that provides a snapshot of a company’s financial position at a specific point in time. It outlines the company’s assets, liabilities, and shareholders’ equity, offering a clear view of what the company owns...
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...
