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Singapore.
SINGAPORE EMPLOYMENT ACT Copyright © 2020 Rikvin Pte Ltd. All rights reserved. Last updatedJan 2020 |
SINGAPORE WITHHOLDING TAX Below is a general outline for the % of the amount to withhold: For management fees, technical and other service fees paid to a non-resident company, the withholding tax rate is the same as corporate tax rates, which is 17%. However, for payments made to non-resident individuals, the WHY INVEST IN INDIA THROUGH A SINGAPORE COMPANY Why Invest in India Through a Singapore Company. India’s new Prime Minister Narendra Modi recently launched his flagship ‘Make in India’ campaign to propel the country into the top 50 countries in the World Bank’s Ease of Doing Business index by 2016. The focus is on facilitating the inflow of new technology and capital, whilecreating
DIFFERENCE BETWEEN A LLP AND A PRIVATE LIMITED COMPANY? A Limited Liability Partnership (LLP) is a partnership in which some of the partners have limited liabilities. A limited liability partnership structure is a cross hybrid between a partnership and a private limited company. The structure is highly suitable for individuals engaged in professional services. LATEST UPDATE ON SINGAPORE’S BENEFICIAL OWNERSHIP REGIMESEE MORE ONRIKVIN.COM
TAX BENEFITS OF SINGAPORE HOLDING COMPANY FOR INVESTMENT Analysts believe that as per the existing DTAs between India and US, and India and Singapore, interposing a Singapore Holding Company for investments in India may reduce the overall tax burden of a US company from 35% to just under 22.5%. Even if the US Parent company wants to dispose off the Indian Subsidiary, any gains derived by the COMPARISON OF SINGAPORE EMPLOYMENT PASS VS ENTREPASS An Employment Pass holder will usually be a professional in a managerial or executive role, whereas an EntrePass is for foreigners who want to move their existing business to Singapore. An Employment Pass holder must be earning at least $3,600 per month, where an EntrePass holder must have $50,000 in capital to start their business. COMPANY REGISTRATION IN SINGAPORE Registering a Company in Singapore. Since 1998, Rikvin has been the leading one-stop corporate service provider for companies that want to register online and conduct business in Singapore.Our range of services includes company registration and incorporation, application of work visas and employment passes, taxation and accounting services, business support and corporate secretarial services GLOBAL INVESTOR PROGRAMME (GIP) The Global Investor Programme (GIP) is the preferred route for investors to gain the Singapore permanent residency status for themselves and their family.Singapore has received numerous accolades for being one of the best places in the world to live, work and play, thus earning it the title of Asia’s business epicenter.. Its high quality of living has also compelled many investors and high STRATEGIC SKILLS IN DEMAND IN SINGAPORE Strategic Skills in Demand in Singapore. On this page, you will learn about the Strategic Skills-in-Demand List, a summary of occupations that are key to supporting the growth of key economic sectors in Singapore. This list aims to help foreign professionals determine if their skills set are in demand in Singapore before relocating toSingapore.
SINGAPORE EMPLOYMENT ACT Copyright © 2020 Rikvin Pte Ltd. All rights reserved. Last updatedJan 2020 |
SINGAPORE WITHHOLDING TAX Below is a general outline for the % of the amount to withhold: For management fees, technical and other service fees paid to a non-resident company, the withholding tax rate is the same as corporate tax rates, which is 17%. However, for payments made to non-resident individuals, the WHY INVEST IN INDIA THROUGH A SINGAPORE COMPANY Why Invest in India Through a Singapore Company. India’s new Prime Minister Narendra Modi recently launched his flagship ‘Make in India’ campaign to propel the country into the top 50 countries in the World Bank’s Ease of Doing Business index by 2016. The focus is on facilitating the inflow of new technology and capital, whilecreating
DIFFERENCE BETWEEN A LLP AND A PRIVATE LIMITED COMPANY? A Limited Liability Partnership (LLP) is a partnership in which some of the partners have limited liabilities. A limited liability partnership structure is a cross hybrid between a partnership and a private limited company. The structure is highly suitable for individuals engaged in professional services. LATEST UPDATE ON SINGAPORE’S BENEFICIAL OWNERSHIP REGIMESEE MORE ONRIKVIN.COM
TAX BENEFITS OF SINGAPORE HOLDING COMPANY FOR INVESTMENT Analysts believe that as per the existing DTAs between India and US, and India and Singapore, interposing a Singapore Holding Company for investments in India may reduce the overall tax burden of a US company from 35% to just under 22.5%. Even if the US Parent company wants to dispose off the Indian Subsidiary, any gains derived by the COMPARISON OF SINGAPORE EMPLOYMENT PASS VS ENTREPASS An Employment Pass holder will usually be a professional in a managerial or executive role, whereas an EntrePass is for foreigners who want to move their existing business to Singapore. An Employment Pass holder must be earning at least $3,600 per month, where an EntrePass holder must have $50,000 in capital to start their business. HOW PEO SERVICES CAN ADD VALUE TO BUSINESSES AMID COVID-19 The COVID-19 pandemic has resulted in staff growing overburdened with the administration of salary, benefits, and other HR-related concerns. Additionally, many HR personnel may spend too much time trying to keep up with manpower compliance changes and may even overlook making timely monthly wage payments to employees.ALLOTMENT OF SHARES
As explained above, when done properly, the allotment of shares can protect shareholders, capital and businesses in regards to issues related to shareholding structure. Therefore, it is vital that companies ensure best practices when allotting shares to all parties SINGAPORE WORK PASSES AND VISAS This guide provides an insight into the different types of Singapore Work Pass and Visas, including the Employment Pass, EntrePass, Personalised Employment Pass, S Pass, and Work Permit.In addition, you will also learn about the Dependant’s Pass and Long Term Visit Pass for eligible dependants, as well as short-term work passes such as the Work Holiday Programme permit, Training Employment ANNUAL FILING REQUIREMENTS WITH ACRA Section 197 -to file the Annual Return within 1 month after holding the AGM. Failure to comply – Late filing penalties and/or composition fines. Fine of $5,000 & default penalty-s 175 & 197. Fine of $10,000 or up to 2 years imprisonment for s 201. Disqualification for persistent default: 3 convictions within 5 years. SINGAPORE GLOBAL TRADER PROGRAMME (GTP) Launched in June 2001, Global Trader Programme (GTP), which encourages global trading companies to use Singapore as their regional base to conduct entire trade-related activities, from procurement to distribution, has been a major success. The programme was a merger of the approved oil trader (AOT) and the approved international trader(AIT
WHY CHOOSE SINGAPORE FOR BUSINESS Singapore has a unique position in the global economy and a pivotal role as a business epicenter in the heart of Asia. The city-state has been consistently acknowledged as a global business hub – one that features developed infrastructure, political stability, open business policies, a skilled workforce, the use of English as the main working language and respect for intellectual property SINGAPORE WITHHOLDING TAX Below is a general outline for the % of the amount to withhold: For management fees, technical and other service fees paid to a non-resident company, the withholding tax rate is the same as corporate tax rates, which is 17%. However, for payments made to non-resident individuals, the SINGAPORE REGISTERED OFFICE A registered office address should fulfil the following criteria: It is open for at least five hours during ordinary business hours on each business day. It should be a physical office address located in Singapore. It cannot be a P.O. Box. In addition, given that all government bodies and entities will be sending their correspondence tothe
INCORPORATION OPTIONS COMPARISON CHART FOR FOREIGN This chart provides a side-by-side comparison of the three incorporation options for foreign companies intending to set up and operate in Singapore, namely: a subsidiary company, representative office, and a branch office. Tax and compliance to regulatory requirements varies depending on TAIWAN AND SINGAPORE SIGN FREE TRADE AGREEMENT After over two years of negotiations, Singapore and Taiwan have concluded the free trade agreement last week. For Taiwan, the ASTEP (Agreement between Singapore and the Separate Customs Territory of Taiwan, Penghu, Kinmen and Matsu on Economic Partnership) is the first agreement of its kind with a Southeast Asian country and a top tradepartner.
COMPANY REGISTRATION IN SINGAPORE Registering a Company in Singapore. Since 1998, Rikvin has been the leading one-stop corporate service provider for companies that want to register online and conduct business in Singapore.Our range of services includes company registration and incorporation, application of work visas and employment passes, taxation and accounting services, business support and corporate secretarial servicesALLOTMENT OF SHARES
As explained above, when done properly, the allotment of shares can protect shareholders, capital and businesses in regards to issues related to shareholding structure. Therefore, it is vital that companies ensure best practices when allotting shares to all parties and follow the procedures outlined by Singapore law. ANNUAL FILING REQUIREMENTS WITH ACRA Section 197 -to file the Annual Return within 1 month after holding the AGM. Failure to comply – Late filing penalties and/or composition fines. Fine of $5,000 & default penalty-s 175 & 197. Fine of $10,000 or up to 2 years imprisonment for s 201. Disqualification for persistent default: 3 convictions within 5 years. SINGAPORE WORK PASSES AND VISAS Minimum age of 18 years old. Semi-skilled or unskilled foreign domestic workers (FDWs) to work in Singapore. For legally-married spouses and unmarried or legally adopted children under 21 years old. Employment Pass and S Pass holders must earn S$6,000 a month or more. EP DP holders are allowed to work in Singapore. SINGAPORE BUSINESS ETHICS An Employee Handbook lays the foundation for the professional relationship between the employer and employee. It is essentially a manual containing the work rules, policies as well as the benefits and responsibilities of both parties. To employers, it is a useful tool to manage expectations with employees and communicate what is expected ofthem.
SETTING UP A BRANCH OFFICE Setting up a Singapore Branch Office. A Branch Office in Singapore is an extension of a foreign parent company registered outside of Singapore. The purpose of a Branch Office is to facilitate operation and revenue generation in Singapore for the foreign parent company. It is considered a non-resident for tax purposes, and therefore noteligible
SINGAPORE EMPLOYMENT PASS There is a minimum salary of $4,500 per month for the Singapore Employment Pass visa. The Singapore Entrepreneur Pass is a visa for foreign business owners who wish to relocate their business to Singapore. There is no minimum salary for the Singapore Entrepreneur Pass visa, however you will need to have capital of at least $50,000. SINGAPORE WITHHOLDING TAX Below is a general outline for the % of the amount to withhold: For management fees, technical and other service fees paid to a non-resident company, the withholding tax rate is the same as corporate tax rates, which is 17%. However, for payments made to non-resident individuals, the DIFFERENCE BETWEEN A LLP AND A PRIVATE LIMITED COMPANY? A Limited Liability Partnership (LLP) is a partnership in which some of the partners have limited liabilities. A limited liability partnership structure is a cross hybrid between a partnership and a private limited company. The structure is highly suitable for individuals engaged in professional services. SINGAPORE SET TO BE WORLD’S WEALTHIEST NATION BY 2050 Singapore is expected to be at the forefront of the eastward trend in economic prosperity, with a forecasted per capita GDP of US$137,710, making it the world’s wealthiest country in 2050. Asian countries Hong Kong, Taiwan, and South Korea are predicted to move up to second, third, and fourth spots, respectively. COMPANY REGISTRATION IN SINGAPORE Registering a Company in Singapore. Since 1998, Rikvin has been the leading one-stop corporate service provider for companies that want to register online and conduct business in Singapore.Our range of services includes company registration and incorporation, application of work visas and employment passes, taxation and accounting services, business support and corporate secretarial servicesALLOTMENT OF SHARES
As explained above, when done properly, the allotment of shares can protect shareholders, capital and businesses in regards to issues related to shareholding structure. Therefore, it is vital that companies ensure best practices when allotting shares to all parties and follow the procedures outlined by Singapore law. ANNUAL FILING REQUIREMENTS WITH ACRA Section 197 -to file the Annual Return within 1 month after holding the AGM. Failure to comply – Late filing penalties and/or composition fines. Fine of $5,000 & default penalty-s 175 & 197. Fine of $10,000 or up to 2 years imprisonment for s 201. Disqualification for persistent default: 3 convictions within 5 years. SINGAPORE WORK PASSES AND VISAS Minimum age of 18 years old. Semi-skilled or unskilled foreign domestic workers (FDWs) to work in Singapore. For legally-married spouses and unmarried or legally adopted children under 21 years old. Employment Pass and S Pass holders must earn S$6,000 a month or more. EP DP holders are allowed to work in Singapore. SINGAPORE BUSINESS ETHICS An Employee Handbook lays the foundation for the professional relationship between the employer and employee. It is essentially a manual containing the work rules, policies as well as the benefits and responsibilities of both parties. To employers, it is a useful tool to manage expectations with employees and communicate what is expected ofthem.
SETTING UP A BRANCH OFFICE Setting up a Singapore Branch Office. A Branch Office in Singapore is an extension of a foreign parent company registered outside of Singapore. The purpose of a Branch Office is to facilitate operation and revenue generation in Singapore for the foreign parent company. It is considered a non-resident for tax purposes, and therefore noteligible
SINGAPORE EMPLOYMENT PASS There is a minimum salary of $4,500 per month for the Singapore Employment Pass visa. The Singapore Entrepreneur Pass is a visa for foreign business owners who wish to relocate their business to Singapore. There is no minimum salary for the Singapore Entrepreneur Pass visa, however you will need to have capital of at least $50,000. SINGAPORE WITHHOLDING TAX Below is a general outline for the % of the amount to withhold: For management fees, technical and other service fees paid to a non-resident company, the withholding tax rate is the same as corporate tax rates, which is 17%. However, for payments made to non-resident individuals, the DIFFERENCE BETWEEN A LLP AND A PRIVATE LIMITED COMPANY? A Limited Liability Partnership (LLP) is a partnership in which some of the partners have limited liabilities. A limited liability partnership structure is a cross hybrid between a partnership and a private limited company. The structure is highly suitable for individuals engaged in professional services. SINGAPORE SET TO BE WORLD’S WEALTHIEST NATION BY 2050 Singapore is expected to be at the forefront of the eastward trend in economic prosperity, with a forecasted per capita GDP of US$137,710, making it the world’s wealthiest country in 2050. Asian countries Hong Kong, Taiwan, and South Korea are predicted to move up to second, third, and fourth spots, respectively.ALLOTMENT OF SHARES
As explained above, when done properly, the allotment of shares can protect shareholders, capital and businesses in regards to issues related to shareholding structure. Therefore, it is vital that companies ensure best practices when allotting shares to all parties IS A SHORTAGE OF MANPOWER THE REAL PROBLEM? Mr. Satish Bakhda, Head of Operations at Rikvin, said what firms need to do is to innovate their work processes in face of the more stringent hiring requirements. “A shortage of manpower isn’t the real problem which firms are facing. While some firms may find it more difficult to hire workers now, it is more important now that firmswork on
LATEST UPDATE ON SINGAPORE’S BENEFICIAL OWNERSHIP REGIME Latest Update on Singapore’s Beneficial Ownership Regime. The Panama Papers scandal has unfolded a series of regulatory changes by governments across the globe, whereby the scrutiny on Beneficial Owners (BO) of corporate/legal entities has become tighter. As part of the measures to combat money laundering (ML) and financing ofterrorism (FT
SINGAPORE GLOBAL TRADER PROGRAMME (GTP) Launched in June 2001, Global Trader Programme (GTP), which encourages global trading companies to use Singapore as their regional base to conduct entire trade-related activities, from procurement to distribution, has been a major success. The programme was a merger of the approved oil trader (AOT) and the approved international trader(AIT
DEPENDANT'S PASS HOLDERS' OPTIONS IN SINGAPORE Dependant’s Pass. Family members of qualified Employment Pass and S Pass holders can come to Singapore on a Dependant’s Pass. Only legally married spouses and children under the age of twenty-one are eligible to apply. Please note that employment pass and S pass holders must earn a minimum of S$6,000/month in order to qualify to bring their dependants to Singapore. FREE ONLINE SINGAPORE INCOME TAX CALCULATOR Working Mother's Child Relief. Working Mother's Child Relief (WMCR) Enter the following amount: 1st child - 15% of mother's earned income. 2nd child - 20% of mother's earned income. 3rd and each subsequent child - 25% of mother's earned income. Cumulative WMCR percentages are capped at 100% of mother's earned income. PERSONAL INCOME TAX GUIDE FOR FOREIGNERS IN SINGAPORE No tax reliefs are given when filing the Form M applicable to non-residents but only the income earned in Singapore is taxed at a flat rate of 15 percent (or at progressive resident rates, if it gives a higher tax liability). Notably, Director’s fee are taxed at a slight higher rate of flat 20 percent. I HAVE AN EMPLOYMENT PASS (EP). WHAT HAPPENS IF I LOSE MY FAQ : Immigration & Work Visa / Singapore Employment Pass. I have an Employment Pass (EP). What happens if I lose my job? The Employment Pass (EP) is cancelled immediately. You then have 30 days to find a new job and secure a new Employment Pass, failing which you will needto leave Singapore.
DIFFERENCE BETWEEN A LLP AND A PRIVATE LIMITED COMPANY? A Limited Liability Partnership (LLP) is a partnership in which some of the partners have limited liabilities. A limited liability partnership structure is a cross hybrid between a partnership and a private limited company. The structure is highly suitable for individuals engaged in professional services. SINGAPORE COMPANY ANNUAL FILING & COMPLIANCE REQUIREMENTS opit 2017 iin te Ltd its eseved Last updated 18 Sep 2017 | 3 Key Filing Deadlines to Remember 04 Annual Filing Requirements with ACRA 05 Annual Filing Requirements with IRAS 06 COMPANY REGISTRATION IN SINGAPORE Registering a Company in Singapore. Since 1998, Rikvin has been the leading one-stop corporate service provider for companies that want to register online and conduct business in Singapore.Our range of services includes company registration and incorporation, application of work visas and employment passes, taxation and accounting services, business support and corporate secretarial services WHAT TYPES OF SHARES CAN A SINGAPORE COMPANY HAVE Conclusion. Generally, most Singapore companies will start off with just one class of ordinary shares, with equal rights to voting, dividends, and capital. If the company issues different share classes in the future, shareholders can own different classes of shares. The issue and management of different share classes can be complex. SINGAPORE WORK PERMIT APPLICATION SERVICE Singapore Work Permit Application. Rikvin, a licensed MOM employment agency, offers Singapore Work Permit application services to render further assistance to employers intending to apply a work permit for their foreign staff, especially companies which are newly registered in Singapore. The Work Permit (WP) is issued to basic-skilled workers LATEST UPDATE ON SINGAPORE’S BENEFICIAL OWNERSHIP REGIMESEE MORE ONRIKVIN.COM
SINGAPORE BUSINESS ETHICS An Employee Handbook lays the foundation for the professional relationship between the employer and employee. It is essentially a manual containing the work rules, policies as well as the benefits and responsibilities of both parties. To employers, it is a useful tool to manage expectations with employees and communicate what is expected ofthem.
SETTING UP A BRANCH OFFICE Setting up a Singapore Branch Office. A Branch Office in Singapore is an extension of a foreign parent company registered outside of Singapore. The purpose of a Branch Office is to facilitate operation and revenue generation in Singapore for the foreign parent company. It is considered a non-resident for tax purposes, and therefore noteligible
3 WAYS FOR PROFESSIONALS TO GET WORK VISA IN Your work visa application can only be made by your employer and on your behalf. Depending on your experience and qualifications, you may be granted the Employment Pass (EP) or S Pass. To qualify for the EP, you must earn at least a fixed monthly salary of $4,500 (from 1 September 2020) or $5,000 in the financial sector (from 1 December2020
WHY INVEST IN INDIA THROUGH A SINGAPORE COMPANY Why Invest in India Through a Singapore Company. India’s new Prime Minister Narendra Modi recently launched his flagship ‘Make in India’ campaign to propel the country into the top 50 countries in the World Bank’s Ease of Doing Business index by 2016. The focus is on facilitating the inflow of new technology and capital, whilecreating
TAX BENEFITS OF SINGAPORE HOLDING COMPANY FOR INVESTMENT Analysts believe that as per the existing DTAs between India and US, and India and Singapore, interposing a Singapore Holding Company for investments in India may reduce the overall tax burden of a US company from 35% to just under 22.5%. Even if the US Parent company wants to dispose off the Indian Subsidiary, any gains derived by the SINGAPORE SET TO BE WORLD’S WEALTHIEST NATION BY 2050 Singapore is expected to be at the forefront of the eastward trend in economic prosperity, with a forecasted per capita GDP of US$137,710, making it the world’s wealthiest country in 2050. Asian countries Hong Kong, Taiwan, and South Korea are predicted to move up to second, third, and fourth spots, respectively. COMPANY REGISTRATION IN SINGAPORE Registering a Company in Singapore. Since 1998, Rikvin has been the leading one-stop corporate service provider for companies that want to register online and conduct business in Singapore.Our range of services includes company registration and incorporation, application of work visas and employment passes, taxation and accounting services, business support and corporate secretarial services WHAT TYPES OF SHARES CAN A SINGAPORE COMPANY HAVE Conclusion. Generally, most Singapore companies will start off with just one class of ordinary shares, with equal rights to voting, dividends, and capital. If the company issues different share classes in the future, shareholders can own different classes of shares. The issue and management of different share classes can be complex. SINGAPORE WORK PERMIT APPLICATION SERVICE Singapore Work Permit Application. Rikvin, a licensed MOM employment agency, offers Singapore Work Permit application services to render further assistance to employers intending to apply a work permit for their foreign staff, especially companies which are newly registered in Singapore. The Work Permit (WP) is issued to basic-skilled workers LATEST UPDATE ON SINGAPORE’S BENEFICIAL OWNERSHIP REGIMESEE MORE ONRIKVIN.COM
SINGAPORE BUSINESS ETHICS An Employee Handbook lays the foundation for the professional relationship between the employer and employee. It is essentially a manual containing the work rules, policies as well as the benefits and responsibilities of both parties. To employers, it is a useful tool to manage expectations with employees and communicate what is expected ofthem.
SETTING UP A BRANCH OFFICE Setting up a Singapore Branch Office. A Branch Office in Singapore is an extension of a foreign parent company registered outside of Singapore. The purpose of a Branch Office is to facilitate operation and revenue generation in Singapore for the foreign parent company. It is considered a non-resident for tax purposes, and therefore noteligible
3 WAYS FOR PROFESSIONALS TO GET WORK VISA IN Your work visa application can only be made by your employer and on your behalf. Depending on your experience and qualifications, you may be granted the Employment Pass (EP) or S Pass. To qualify for the EP, you must earn at least a fixed monthly salary of $4,500 (from 1 September 2020) or $5,000 in the financial sector (from 1 December2020
WHY INVEST IN INDIA THROUGH A SINGAPORE COMPANY Why Invest in India Through a Singapore Company. India’s new Prime Minister Narendra Modi recently launched his flagship ‘Make in India’ campaign to propel the country into the top 50 countries in the World Bank’s Ease of Doing Business index by 2016. The focus is on facilitating the inflow of new technology and capital, whilecreating
TAX BENEFITS OF SINGAPORE HOLDING COMPANY FOR INVESTMENT Analysts believe that as per the existing DTAs between India and US, and India and Singapore, interposing a Singapore Holding Company for investments in India may reduce the overall tax burden of a US company from 35% to just under 22.5%. Even if the US Parent company wants to dispose off the Indian Subsidiary, any gains derived by the SINGAPORE SET TO BE WORLD’S WEALTHIEST NATION BY 2050 Singapore is expected to be at the forefront of the eastward trend in economic prosperity, with a forecasted per capita GDP of US$137,710, making it the world’s wealthiest country in 2050. Asian countries Hong Kong, Taiwan, and South Korea are predicted to move up to second, third, and fourth spots, respectively. OUR TEAM OF SINGAPORE COMPANY REGISTRATION SPECIALIST Thousands of companies trust us to get started. Rikvin’s expertise is unrivaled in Singapore. With 20 years of know-how in company incorporation, accounting, tax, payroll and immigration services, you can count on us to be your dedicated one-stop business solution. Engage Our Services. WHAT IS A CERTIFICATE OF INCORPORATION? A Certificate of Incorporation is a legal document issued by the registrar of companies (Accounting and Corporate Regulatory Authority (ACRA) in Singapore) upon registration of a company.The certificate asserts that the company has been formed/ incorporated on the stated date and fulfills all the regulatory requirements for company formation and vouches for its distinct legal identity which is SINGAPORE WORK PASSES AND VISAS Minimum age of 18 years old. Semi-skilled or unskilled foreign domestic workers (FDWs) to work in Singapore. For legally-married spouses and unmarried or legally adopted children under 21 years old. Employment Pass and S Pass holders must earn S$6,000 a month or more. EP DP holders are allowed to work in Singapore. 3 WAYS FOR PROFESSIONALS TO GET WORK VISA IN Your work visa application can only be made by your employer and on your behalf. Depending on your experience and qualifications, you may be granted the Employment Pass (EP) or S Pass. To qualify for the EP, you must earn at least a fixed monthly salary of $4,500 (from 1 September 2020) or $5,000 in the financial sector (from 1 December2020
CHANGING A SINGAPORE COMPANY’S CORPORATE SECRETARY Changing a Singapore company’s corporate secretary. There are several reasons as to why a company may contemplate changing its corporate secretary, such as: Existing secretary’s inability to articulate or communicate clearly. Failure of the secretary to provide proper guidance and advice in relation to ongoing complianceregulatory
WHAT ARE THE ONBOARDING PROCESSES IN SG FOR A NEW Employee onboarding is the informal or formal process of introducing a new staff member to their department, and preparing them for optimum productivity as soon as possible.The knowledge and tools made available to the new employee is usually specific to their role and responsibilities. On the other, (and often confused-with side), is employee orientation, which is more about initiating the DIFFERENCE BETWEEN A LLP AND A PRIVATE LIMITED COMPANY? A Limited Liability Partnership (LLP) is a partnership in which some of the partners have limited liabilities. A limited liability partnership structure is a cross hybrid between a partnership and a private limited company. The structure is highly suitable for individuals engaged in professional services. WHAT ARE TRANSFER PRICING DOCUMENTATION REQUIREMENTS? FAQ: All About Singapore Transfer Pricing Documentation. As a mandatory requirement by IRAS under section 34F of the Singapore Income Tax Act, the Transfer Pricing Documentation is significant for taxpayers. Taxpayers are required to keep records to prove that their related party transactions are always conducted at arm’s length. SINGAPORE EMPLOYMENT ACT in Singapore. However, the EA does not apply to all employees in Singapore, but only to ‘employees’ as defined by the Act. As of 1 April 2014, new changes to the EA I HAVE AN EMPLOYMENT PASS (EP). WHAT HAPPENS IF I LOSE MY FAQ : Immigration & Work Visa / Singapore Employment Pass. I have an Employment Pass (EP). What happens if I lose my job? The Employment Pass (EP) is cancelled immediately. You then have 30 days to find a new job and secure a new Employment Pass, failing which you will needto leave Singapore.
COMPANY REGISTRATION IN SINGAPORE Registering a Company in Singapore. Since 1998, Rikvin has been the leading one-stop corporate service provider for companies that want to register online and conduct business in Singapore.Our range of services includes company registration and incorporation, application of work visas and employment passes, taxation and accounting services, business support and corporate secretarial services SINGAPORE WORK PASSES AND VISAS Minimum age of 18 years old. Semi-skilled or unskilled foreign domestic workers (FDWs) to work in Singapore. For legally-married spouses and unmarried or legally adopted children under 21 years old. Employment Pass and S Pass holders must earn S$6,000 a month or more. EP DP holders are allowed to work in Singapore. ANNUAL FILING REQUIREMENTS WITH ACRA Section 197 -to file the Annual Return within 1 month after holding the AGM. Failure to comply – Late filing penalties and/or composition fines. Fine of $5,000 & default penalty-s 175 & 197. Fine of $10,000 or up to 2 years imprisonment for s 201. Disqualification for persistent default: 3 convictions within 5 years. SINGAPORE BUSINESS ETHICS An Employee Handbook lays the foundation for the professional relationship between the employer and employee. It is essentially a manual containing the work rules, policies as well as the benefits and responsibilities of both parties. To employers, it is a useful tool to manage expectations with employees and communicate what is expected ofthem.
SETTING UP A BRANCH OFFICE Setting up a Singapore Branch Office. A Branch Office in Singapore is an extension of a foreign parent company registered outside of Singapore. The purpose of a Branch Office is to facilitate operation and revenue generation in Singapore for the foreign parent company. It is considered a non-resident for tax purposes, and therefore noteligible
CAN A FOREIGNER START A COMPANY IN SINGAPORE? Yes, a foreigner can start a company in Singapore.There are three options foreigners can choose to set up a company in Singapore: If you intend to relocate to Singapore: Option 1: Private Limited Company + Employment Pass Option 2: Private Limited Company + EntrePass If you SINGAPORE WITHHOLDING TAX Below is a general outline for the % of the amount to withhold: For management fees, technical and other service fees paid to a non-resident company, the withholding tax rate is the same as corporate tax rates, which is 17%. However, for payments made to non-resident individuals, the PERSONAL INCOME TAX GUIDE FOR FOREIGNERS IN SINGAPORE No tax reliefs are given when filing the Form M applicable to non-residents but only the income earned in Singapore is taxed at a flat rate of 15 percent (or at progressive resident rates, if it gives a higher tax liability). Notably, Director’s fee are taxed at a slight higher rate of flat 20 percent. SINGAPORE EMPLOYMENT PASS There is a minimum salary of $4,500 per month for the Singapore Employment Pass visa. The Singapore Entrepreneur Pass is a visa for foreign business owners who wish to relocate their business to Singapore. There is no minimum salary for the Singapore Entrepreneur Pass visa, however you will need to have capital of at least $50,000. DIFFERENCE BETWEEN A LLP AND A PRIVATE LIMITED COMPANY? A Limited Liability Partnership (LLP) is a partnership in which some of the partners have limited liabilities. A limited liability partnership structure is a cross hybrid between a partnership and a private limited company. The structure is highly suitable for individuals engaged in professional services. COMPANY REGISTRATION IN SINGAPORE Registering a Company in Singapore. Since 1998, Rikvin has been the leading one-stop corporate service provider for companies that want to register online and conduct business in Singapore.Our range of services includes company registration and incorporation, application of work visas and employment passes, taxation and accounting services, business support and corporate secretarial services SINGAPORE WORK PASSES AND VISAS Minimum age of 18 years old. Semi-skilled or unskilled foreign domestic workers (FDWs) to work in Singapore. For legally-married spouses and unmarried or legally adopted children under 21 years old. Employment Pass and S Pass holders must earn S$6,000 a month or more. EP DP holders are allowed to work in Singapore. ANNUAL FILING REQUIREMENTS WITH ACRA Section 197 -to file the Annual Return within 1 month after holding the AGM. Failure to comply – Late filing penalties and/or composition fines. Fine of $5,000 & default penalty-s 175 & 197. Fine of $10,000 or up to 2 years imprisonment for s 201. Disqualification for persistent default: 3 convictions within 5 years. SINGAPORE BUSINESS ETHICS An Employee Handbook lays the foundation for the professional relationship between the employer and employee. It is essentially a manual containing the work rules, policies as well as the benefits and responsibilities of both parties. To employers, it is a useful tool to manage expectations with employees and communicate what is expected ofthem.
SETTING UP A BRANCH OFFICE Setting up a Singapore Branch Office. A Branch Office in Singapore is an extension of a foreign parent company registered outside of Singapore. The purpose of a Branch Office is to facilitate operation and revenue generation in Singapore for the foreign parent company. It is considered a non-resident for tax purposes, and therefore noteligible
CAN A FOREIGNER START A COMPANY IN SINGAPORE? Yes, a foreigner can start a company in Singapore.There are three options foreigners can choose to set up a company in Singapore: If you intend to relocate to Singapore: Option 1: Private Limited Company + Employment Pass Option 2: Private Limited Company + EntrePass If you SINGAPORE WITHHOLDING TAX Below is a general outline for the % of the amount to withhold: For management fees, technical and other service fees paid to a non-resident company, the withholding tax rate is the same as corporate tax rates, which is 17%. However, for payments made to non-resident individuals, the PERSONAL INCOME TAX GUIDE FOR FOREIGNERS IN SINGAPORE No tax reliefs are given when filing the Form M applicable to non-residents but only the income earned in Singapore is taxed at a flat rate of 15 percent (or at progressive resident rates, if it gives a higher tax liability). Notably, Director’s fee are taxed at a slight higher rate of flat 20 percent. SINGAPORE EMPLOYMENT PASS There is a minimum salary of $4,500 per month for the Singapore Employment Pass visa. The Singapore Entrepreneur Pass is a visa for foreign business owners who wish to relocate their business to Singapore. There is no minimum salary for the Singapore Entrepreneur Pass visa, however you will need to have capital of at least $50,000. DIFFERENCE BETWEEN A LLP AND A PRIVATE LIMITED COMPANY? A Limited Liability Partnership (LLP) is a partnership in which some of the partners have limited liabilities. A limited liability partnership structure is a cross hybrid between a partnership and a private limited company. The structure is highly suitable for individuals engaged in professional services. SETUP & REGISTER FUND MANAGEMENT COMPANY IN SINGAPORE Form a fund management company in Singapore with speed, ease and value. Rikvin’s expertise is unrivaled in Singapore. With 20 years of know-how in company incorporation, accounting, tax, payroll and immigration services, you can count on us to be your dedicated one-stop business solution. FREE ONLINE SINGAPORE INCOME TAX CALCULATOR Working Mother's Child Relief. Working Mother's Child Relief (WMCR) Enter the following amount: 1st child - 15% of mother's earned income. 2nd child - 20% of mother's earned income. 3rd and each subsequent child - 25% of mother's earned income. Cumulative WMCR percentages are capped at 100% of mother's earned income. SINGAPORE GLOBAL TRADER PROGRAMME (GTP) Launched in June 2001, Global Trader Programme (GTP), which encourages global trading companies to use Singapore as their regional base to conduct entire trade-related activities, from procurement to distribution, has been a major success. The programme was a merger of the approved oil trader (AOT) and the approved international trader(AIT
DIFFERENCE BETWEEN A LLP AND A PRIVATE LIMITED COMPANY? A Limited Liability Partnership (LLP) is a partnership in which some of the partners have limited liabilities. A limited liability partnership structure is a cross hybrid between a partnership and a private limited company. The structure is highly suitable for individuals engaged in professional services. SINGAPORE COMPANY NAME CHECK TOOL Use our free Singapore Company or Business Name Check tool to find out if your desired business name is available when you register in ACRA. PERSONAL INCOME TAX GUIDE FOR FOREIGNERS IN SINGAPORE No tax reliefs are given when filing the Form M applicable to non-residents but only the income earned in Singapore is taxed at a flat rate of 15 percent (or at progressive resident rates, if it gives a higher tax liability). Notably, Director’s fee are taxed at a slight higher rate of flat 20 percent. DEPENDANT'S PASS HOLDERS' OPTIONS IN SINGAPORE Dependant’s Pass. Family members of qualified Employment Pass and S Pass holders can come to Singapore on a Dependant’s Pass. Only legally married spouses and children under the age of twenty-one are eligible to apply. Please note that employment pass and S pass holders must earn a minimum of S$6,000/month in order to qualify to bring their dependants to Singapore. WHY CHOOSE SINGAPORE FOR BUSINESS Singapore has a unique position in the global economy and a pivotal role as a business epicenter in the heart of Asia. The city-state has been consistently acknowledged as a global business hub – one that features developed infrastructure, political stability, open business policies, a skilled workforce, the use of English as the main working language and respect for intellectual property I HAVE AN EMPLOYMENT PASS (EP). WHAT HAPPENS IF I LOSE MY FAQ : Immigration & Work Visa / Singapore Employment Pass. I have an Employment Pass (EP). What happens if I lose my job? The Employment Pass (EP) is cancelled immediately. You then have 30 days to find a new job and secure a new Employment Pass, failing which you will needto leave Singapore.
SINGAPORE COMPANY SECRETARY In Singapore, the criteria for being a company secretary for a private limited company is not stringent and this role can be undertaken by any Singapore resident (i.e. Singapore citizen, permanent resident or an individual with an employment pass) above 18 years of age. This unfortunately leads to a “gap” of knowledge as inexperienced COMPANY REGISTRATION IN SINGAPORE Registering a Company in Singapore. Since 1998, Rikvin has been the leading one-stop corporate service provider for companies that want to register online and conduct business in Singapore.Our range of services includes company registration and incorporation, application of work visas and employment passes, taxation and accounting services, business support and corporate secretarial services OUR TEAM OF SINGAPORE COMPANY REGISTRATION SPECIALIST Thousands of companies trust us to get started. Rikvin’s expertise is unrivaled in Singapore. With 20 years of know-how in company incorporation, accounting, tax, payroll and immigration services, you can count on us to be your dedicated one-stop business solution. Engage Our Services. WHAT IS A CERTIFICATE OF INCORPORATION? A Certificate of Incorporation is a legal document issued by the registrar of companies (Accounting and Corporate Regulatory Authority (ACRA) in Singapore) upon registration of a company.The certificate asserts that the company has been formed/ incorporated on the stated date and fulfills all the regulatory requirements for company formation and vouches for its distinct legal identity which is SINGAPORE WORK PASSES AND VISAS Minimum age of 18 years old. Semi-skilled or unskilled foreign domestic workers (FDWs) to work in Singapore. For legally-married spouses and unmarried or legally adopted children under 21 years old. Employment Pass and S Pass holders must earn S$6,000 a month or more. EP DP holders are allowed to work in Singapore. WHAT TYPES OF SHARES CAN A SINGAPORE COMPANY HAVE Conclusion. Generally, most Singapore companies will start off with just one class of ordinary shares, with equal rights to voting, dividends, and capital. If the company issues different share classes in the future, shareholders can own different classes of shares. The issue and management of different share classes can be complex. SETTING UP A BRANCH OFFICE Setting up a Singapore Branch Office. A Branch Office in Singapore is an extension of a foreign parent company registered outside of Singapore. The purpose of a Branch Office is to facilitate operation and revenue generation in Singapore for the foreign parent company. It is considered a non-resident for tax purposes, and therefore noteligible
HOW TO CHOOSE A COMPANY NAME IN SINGAPORE Using our Company Name Check. To improve your chances of having the name application approved by ACRA and to reduce the risk of future complaints being made against your company under the law, do conduct a preliminary search for identical or similar names using our Company Name Check before submitting the name application for official approval. Along with doing a Google search (especially LATEST UPDATE ON SINGAPORE’S BENEFICIAL OWNERSHIP REGIMESEE MORE ONRIKVIN.COM
SINGAPORE EMPLOYMENT ACT in Singapore. However, the EA does not apply to all employees in Singapore, but only to ‘employees’ as defined by the Act. As of 1 April 2014, new changes to the EA DIFFERENCE BETWEEN A LLP AND A PRIVATE LIMITED COMPANY? A Limited Liability Partnership (LLP) is a partnership in which some of the partners have limited liabilities. A limited liability partnership structure is a cross hybrid between a partnership and a private limited company. The structure is highly suitable for individuals engaged in professional services. COMPANY REGISTRATION IN SINGAPORE Registering a Company in Singapore. Since 1998, Rikvin has been the leading one-stop corporate service provider for companies that want to register online and conduct business in Singapore.Our range of services includes company registration and incorporation, application of work visas and employment passes, taxation and accounting services, business support and corporate secretarial services OUR TEAM OF SINGAPORE COMPANY REGISTRATION SPECIALIST Thousands of companies trust us to get started. Rikvin’s expertise is unrivaled in Singapore. With 20 years of know-how in company incorporation, accounting, tax, payroll and immigration services, you can count on us to be your dedicated one-stop business solution. Engage Our Services. WHAT IS A CERTIFICATE OF INCORPORATION? A Certificate of Incorporation is a legal document issued by the registrar of companies (Accounting and Corporate Regulatory Authority (ACRA) in Singapore) upon registration of a company.The certificate asserts that the company has been formed/ incorporated on the stated date and fulfills all the regulatory requirements for company formation and vouches for its distinct legal identity which is SINGAPORE WORK PASSES AND VISAS Minimum age of 18 years old. Semi-skilled or unskilled foreign domestic workers (FDWs) to work in Singapore. For legally-married spouses and unmarried or legally adopted children under 21 years old. Employment Pass and S Pass holders must earn S$6,000 a month or more. EP DP holders are allowed to work in Singapore. WHAT TYPES OF SHARES CAN A SINGAPORE COMPANY HAVE Conclusion. Generally, most Singapore companies will start off with just one class of ordinary shares, with equal rights to voting, dividends, and capital. If the company issues different share classes in the future, shareholders can own different classes of shares. The issue and management of different share classes can be complex. SETTING UP A BRANCH OFFICE Setting up a Singapore Branch Office. A Branch Office in Singapore is an extension of a foreign parent company registered outside of Singapore. The purpose of a Branch Office is to facilitate operation and revenue generation in Singapore for the foreign parent company. It is considered a non-resident for tax purposes, and therefore noteligible
HOW TO CHOOSE A COMPANY NAME IN SINGAPORE Using our Company Name Check. To improve your chances of having the name application approved by ACRA and to reduce the risk of future complaints being made against your company under the law, do conduct a preliminary search for identical or similar names using our Company Name Check before submitting the name application for official approval. Along with doing a Google search (especially LATEST UPDATE ON SINGAPORE’S BENEFICIAL OWNERSHIP REGIMESEE MORE ONRIKVIN.COM
SINGAPORE EMPLOYMENT ACT in Singapore. However, the EA does not apply to all employees in Singapore, but only to ‘employees’ as defined by the Act. As of 1 April 2014, new changes to the EA DIFFERENCE BETWEEN A LLP AND A PRIVATE LIMITED COMPANY? A Limited Liability Partnership (LLP) is a partnership in which some of the partners have limited liabilities. A limited liability partnership structure is a cross hybrid between a partnership and a private limited company. The structure is highly suitable for individuals engaged in professional services. OUR TEAM OF SINGAPORE COMPANY REGISTRATION SPECIALIST Thousands of companies trust us to get started. Rikvin’s expertise is unrivaled in Singapore. With 20 years of know-how in company incorporation, accounting, tax, payroll and immigration services, you can count on us to be your dedicated one-stop business solution. Engage Our Services. SINGAPORE BUSINESS ETHICS An Employee Handbook lays the foundation for the professional relationship between the employer and employee. It is essentially a manual containing the work rules, policies as well as the benefits and responsibilities of both parties. To employers, it is a useful tool to manage expectations with employees and communicate what is expected ofthem.
PERSONAL INCOME TAX GUIDE FOR FOREIGNERS IN SINGAPORE No tax reliefs are given when filing the Form M applicable to non-residents but only the income earned in Singapore is taxed at a flat rate of 15 percent (or at progressive resident rates, if it gives a higher tax liability). Notably, Director’s fee are taxed at a slight higher rate of flat 20 percent. 3 WAYS FOR PROFESSIONALS TO GET WORK VISA IN Your work visa application can only be made by your employer and on your behalf. Depending on your experience and qualifications, you may be granted the Employment Pass (EP) or S Pass. To qualify for the EP, you must earn at least a fixed monthly salary of $4,500 (from 1 September 2020) or $5,000 in the financial sector (from 1 December2020
DEPENDANT'S PASS HOLDERS' OPTIONS IN SINGAPORE Dependant’s Pass. Family members of qualified Employment Pass and S Pass holders can come to Singapore on a Dependant’s Pass. Only legally married spouses and children under the age of twenty-one are eligible to apply. Please note that employment pass and S pass holders must earn a minimum of S$6,000/month in order to qualify to bring their dependants to Singapore. SINGAPORE EMPLOYMENT PASS There is a minimum salary of $4,500 per month for the Singapore Employment Pass visa. The Singapore Entrepreneur Pass is a visa for foreign business owners who wish to relocate their business to Singapore. There is no minimum salary for the Singapore Entrepreneur Pass visa, however you will need to have capital of at least $50,000. LATEST UPDATE ON SINGAPORE’S BENEFICIAL OWNERSHIP REGIME Latest Update on Singapore’s Beneficial Ownership Regime. The Panama Papers scandal has unfolded a series of regulatory changes by governments across the globe, whereby the scrutiny on Beneficial Owners (BO) of corporate/legal entities has become tighter. As part of the measures to combat money laundering (ML) and financing ofterrorism (FT
SINGAPORE DEPENDANT'S PASS The Dependant’s Pass (DP) entitles the immediate family members of a work visa (Employment Pass / EntrePass / PEP / S Pass) holder to live in Singapore.To qualify for dependant privileges, the sponsoring work visa holder must have a minimum monthly salary of SGD 6,000 (applicable for Employment Pass / SINGAPORE WITHHOLDING TAX Below is a general outline for the % of the amount to withhold: For management fees, technical and other service fees paid to a non-resident company, the withholding tax rate is the same as corporate tax rates, which is 17%. However, for payments made to non-resident individuals, the 5-YEAR SINGAPORE PR & CITIZEN TRENDS 2014 Rikvin Pte Ltd | 7 NUMBER OF SINGAPORE PRS AND CITIZENSHIPS GRANTED While there were 79,167 PRs granted in 2008, the number dropped to 29,891 in 2012. COMPANY REGISTRATION IN SINGAPORE Registering a Company in Singapore. Since 1998, Rikvin has been the leading one-stop corporate service provider for companies that want to register online and conduct business in Singapore.Our range of services includes company registration and incorporation, application of work visas and employment passes, taxation and accounting services, business support and corporate secretarial services OUR TEAM OF SINGAPORE COMPANY REGISTRATION SPECIALIST Thousands of companies trust us to get started. Rikvin’s expertise is unrivaled in Singapore. With 20 years of know-how in company incorporation, accounting, tax, payroll and immigration services, you can count on us to be your dedicated one-stop business solution. Engage Our Services. WHAT IS A CERTIFICATE OF INCORPORATION? A Certificate of Incorporation is a legal document issued by the registrar of companies (Accounting and Corporate Regulatory Authority (ACRA) in Singapore) upon registration of a company.The certificate asserts that the company has been formed/ incorporated on the stated date and fulfills all the regulatory requirements for company formation and vouches for its distinct legal identity which is SINGAPORE WORK PASSES AND VISAS Minimum age of 18 years old. Semi-skilled or unskilled foreign domestic workers (FDWs) to work in Singapore. For legally-married spouses and unmarried or legally adopted children under 21 years old. Employment Pass and S Pass holders must earn S$6,000 a month or more. EP DP holders are allowed to work in Singapore. WHAT TYPES OF SHARES CAN A SINGAPORE COMPANY HAVE Conclusion. Generally, most Singapore companies will start off with just one class of ordinary shares, with equal rights to voting, dividends, and capital. If the company issues different share classes in the future, shareholders can own different classes of shares. The issue and management of different share classes can be complex. SETTING UP A BRANCH OFFICE Setting up a Singapore Branch Office. A Branch Office in Singapore is an extension of a foreign parent company registered outside of Singapore. The purpose of a Branch Office is to facilitate operation and revenue generation in Singapore for the foreign parent company. It is considered a non-resident for tax purposes, and therefore noteligible
HOW TO CHOOSE A COMPANY NAME IN SINGAPORE Using our Company Name Check. To improve your chances of having the name application approved by ACRA and to reduce the risk of future complaints being made against your company under the law, do conduct a preliminary search for identical or similar names using our Company Name Check before submitting the name application for official approval. Along with doing a Google search (especially LATEST UPDATE ON SINGAPORE’S BENEFICIAL OWNERSHIP REGIMESEE MORE ONRIKVIN.COM
SINGAPORE EMPLOYMENT ACT in Singapore. However, the EA does not apply to all employees in Singapore, but only to ‘employees’ as defined by the Act. As of 1 April 2014, new changes to the EA DIFFERENCE BETWEEN A LLP AND A PRIVATE LIMITED COMPANY? A Limited Liability Partnership (LLP) is a partnership in which some of the partners have limited liabilities. A limited liability partnership structure is a cross hybrid between a partnership and a private limited company. The structure is highly suitable for individuals engaged in professional services. COMPANY REGISTRATION IN SINGAPORE Registering a Company in Singapore. Since 1998, Rikvin has been the leading one-stop corporate service provider for companies that want to register online and conduct business in Singapore.Our range of services includes company registration and incorporation, application of work visas and employment passes, taxation and accounting services, business support and corporate secretarial services OUR TEAM OF SINGAPORE COMPANY REGISTRATION SPECIALIST Thousands of companies trust us to get started. Rikvin’s expertise is unrivaled in Singapore. With 20 years of know-how in company incorporation, accounting, tax, payroll and immigration services, you can count on us to be your dedicated one-stop business solution. Engage Our Services. WHAT IS A CERTIFICATE OF INCORPORATION? A Certificate of Incorporation is a legal document issued by the registrar of companies (Accounting and Corporate Regulatory Authority (ACRA) in Singapore) upon registration of a company.The certificate asserts that the company has been formed/ incorporated on the stated date and fulfills all the regulatory requirements for company formation and vouches for its distinct legal identity which is SINGAPORE WORK PASSES AND VISAS Minimum age of 18 years old. Semi-skilled or unskilled foreign domestic workers (FDWs) to work in Singapore. For legally-married spouses and unmarried or legally adopted children under 21 years old. Employment Pass and S Pass holders must earn S$6,000 a month or more. EP DP holders are allowed to work in Singapore. WHAT TYPES OF SHARES CAN A SINGAPORE COMPANY HAVE Conclusion. Generally, most Singapore companies will start off with just one class of ordinary shares, with equal rights to voting, dividends, and capital. If the company issues different share classes in the future, shareholders can own different classes of shares. The issue and management of different share classes can be complex. SETTING UP A BRANCH OFFICE Setting up a Singapore Branch Office. A Branch Office in Singapore is an extension of a foreign parent company registered outside of Singapore. The purpose of a Branch Office is to facilitate operation and revenue generation in Singapore for the foreign parent company. It is considered a non-resident for tax purposes, and therefore noteligible
HOW TO CHOOSE A COMPANY NAME IN SINGAPORE Using our Company Name Check. To improve your chances of having the name application approved by ACRA and to reduce the risk of future complaints being made against your company under the law, do conduct a preliminary search for identical or similar names using our Company Name Check before submitting the name application for official approval. Along with doing a Google search (especially LATEST UPDATE ON SINGAPORE’S BENEFICIAL OWNERSHIP REGIMESEE MORE ONRIKVIN.COM
SINGAPORE EMPLOYMENT ACT in Singapore. However, the EA does not apply to all employees in Singapore, but only to ‘employees’ as defined by the Act. As of 1 April 2014, new changes to the EA DIFFERENCE BETWEEN A LLP AND A PRIVATE LIMITED COMPANY? A Limited Liability Partnership (LLP) is a partnership in which some of the partners have limited liabilities. A limited liability partnership structure is a cross hybrid between a partnership and a private limited company. The structure is highly suitable for individuals engaged in professional services. OUR TEAM OF SINGAPORE COMPANY REGISTRATION SPECIALIST Thousands of companies trust us to get started. Rikvin’s expertise is unrivaled in Singapore. With 20 years of know-how in company incorporation, accounting, tax, payroll and immigration services, you can count on us to be your dedicated one-stop business solution. Engage Our Services. SINGAPORE BUSINESS ETHICS An Employee Handbook lays the foundation for the professional relationship between the employer and employee. It is essentially a manual containing the work rules, policies as well as the benefits and responsibilities of both parties. To employers, it is a useful tool to manage expectations with employees and communicate what is expected ofthem.
PERSONAL INCOME TAX GUIDE FOR FOREIGNERS IN SINGAPORE No tax reliefs are given when filing the Form M applicable to non-residents but only the income earned in Singapore is taxed at a flat rate of 15 percent (or at progressive resident rates, if it gives a higher tax liability). Notably, Director’s fee are taxed at a slight higher rate of flat 20 percent. DEPENDANT'S PASS HOLDERS' OPTIONS IN SINGAPORE Dependant’s Pass. Family members of qualified Employment Pass and S Pass holders can come to Singapore on a Dependant’s Pass. Only legally married spouses and children under the age of twenty-one are eligible to apply. Please note that employment pass and S pass holders must earn a minimum of S$6,000/month in order to qualify to bring their dependants to Singapore. 3 WAYS FOR PROFESSIONALS TO GET WORK VISA IN Your work visa application can only be made by your employer and on your behalf. Depending on your experience and qualifications, you may be granted the Employment Pass (EP) or S Pass. To qualify for the EP, you must earn at least a fixed monthly salary of $4,500 (from 1 September 2020) or $5,000 in the financial sector (from 1 December2020
SINGAPORE EMPLOYMENT PASS There is a minimum salary of $4,500 per month for the Singapore Employment Pass visa. The Singapore Entrepreneur Pass is a visa for foreign business owners who wish to relocate their business to Singapore. There is no minimum salary for the Singapore Entrepreneur Pass visa, however you will need to have capital of at least $50,000. LATEST UPDATE ON SINGAPORE’S BENEFICIAL OWNERSHIP REGIME Latest Update on Singapore’s Beneficial Ownership Regime. The Panama Papers scandal has unfolded a series of regulatory changes by governments across the globe, whereby the scrutiny on Beneficial Owners (BO) of corporate/legal entities has become tighter. As part of the measures to combat money laundering (ML) and financing ofterrorism (FT
SINGAPORE DEPENDANT'S PASS The Dependant’s Pass (DP) entitles the immediate family members of a work visa (Employment Pass / EntrePass / PEP / S Pass) holder to live in Singapore.To qualify for dependant privileges, the sponsoring work visa holder must have a minimum monthly salary of SGD 6,000 (applicable for Employment Pass / SINGAPORE WITHHOLDING TAX Below is a general outline for the % of the amount to withhold: For management fees, technical and other service fees paid to a non-resident company, the withholding tax rate is the same as corporate tax rates, which is 17%. However, for payments made to non-resident individuals, the 5-YEAR SINGAPORE PR & CITIZEN TRENDS 2014 Rikvin Pte Ltd | 7 NUMBER OF SINGAPORE PRS AND CITIZENSHIPS GRANTED While there were 79,167 PRs granted in 2008, the number dropped to 29,891 in 2012.Rikvin Pte Ltd
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We are also an accredited MOM employment agency, with a significantly high success rate in work pass applications. Read More All Singapore companies must comply with various incorporation and formation statutory requirements as mandated by the ACCOUNTING AND CORPORATE REGULATORY AUTHORITY. What sets Rikvin apart is our friendly and knowledgeable team, who is always ready and prepared to provide you with value-added information that can benefit and assist you in your business, be it via email, telephone or face to face consultations at our office, which is conveniently located in Singapore’s central business district. Moreover, given our long history and good standing in the industry, we have an established network of legal professionals, experts and consultants who can advise you on any company registration problems that you may have. Looking how to incorporate in Singapore? Feel free to explore our website, which contains many informative articles written by our in-house experts and specialists. For a personalised face-to-face consultation, or to learn more about the team at Rikvin, call us at+65 6320 1888.
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