Singapore companies no longer able to hold official meetings online from July 2023
Singapore Ministry of Law has revoked the blanket options for companies to hold official meetings online as of July 1, 2023 The Ministry of Law (MinLaw) has announced that companies, Variable Capital Companies and Business Trusts will no longer have the blanket option of conducting official meetings online from July 1, 2023. This gives entities […]
Get to know Singapore’s corporate taxes
Singapore has one of the lowest corporate tax rates in the world, yet they can still be reduced further by legal means Tax rates are leveraged by countries to attract companies and investment, improving economic outcomes and competitiveness. Singapore’s tax rates are one of the lowest in the world and this, combined with world-class infrastructure, […]
Singapore moves to attract top talent with new Work Pass
Overseas Networks and Expertise Pass aims to bring in top performers with niche technical skills in areas such as data science and vaccine development, as well as entrepreneurs Singapore’s Minister of Manpower, Tan See Leng, announced yesterday (August 29, 2022) the launch of a new Work Pass for foreign professionals that will become open to […]
Tax incentive scheme for Singapore Family Offices updated by MAS
Stricter criteria for Family Offices in Singapore to receive tax incentive come into force from April 18, 2022 The Monetary Authority of Singapore (MAS) have amended the tax incentive scheme enjoyed by Family Offices. The new conditions apply to section S13O and Section 13U of the Income Tax Act of 1947. The new criteria are […]
Singapore announces 2022 Budget
Finance Minister sought to chart Singapore’s emergence from the pandemic through budget The Singapore Budget 2022 was announced today by Finance Minister Lawrence Wong. The budget, entitled ‘Charting Our New Way Forward Together’, aimed to chart Singapore’s progress beyond the pandemic, included continued support measures for affected industries (such as aviation), measures designed to shore […]
How SFOs could benefit from a relaxation of Singapore’s VCC requirements
Variable Capital Companies (VCC) in Singapore currently exclude Single Family Offices (SFO) as permissible fund managers On January 15, 2020, the Variable Capital Companies Act 2018 (“VCC Act”) and its subsidiary legislation came into force to introduce a new legal framework for variable capital companies (VCCs). VCCs allow funds to be set up as a […]
From home to the office – getting back to work
The easing of Work From Home requirements will present new challenges for organisations On March 24, Singapore announced that its Work From Home (WFH) requirements will be eased, allowing more office workers to return to the office in early April. While Malaysia, Hong Kong and other Asian nations still have restrictions in place, as vaccinations […]
Singapore to extend alternative arrangements for company General Meetings
Measures passed in April 2020 during the height of the COVID-19 pandemic extended by Singapore government In April 2020, as the COVID-19 pandemic led to a nationwide ‘Circuit Breaker’ lockdown, the Singapore government passed a number of measures designed to allow companies in Singapore to hold their meetings virtually, or postpone them. The measures allowed […]
Singapore budget focuses on jobs and strengthening businesses
Singapore’s Deputy Prime Minister Heng Swee Keat delivered the 2021 Budget on February 16, 2021, promising to build a stronger Singapore following the COVID-19 pandemic The budget aims to create good jobs, and opportunities for businesses, as well as working towards becoming a greener and more sustainable country, and building the social compact and community […]
How to set up a Family Office in Singapore
2020 was a bumper year for Family Offices in Singapore with an estimated 200 single-family offices in Singapore managing assets of about US$20bn as of December last year The popularity of Singapore as a place to establish a Family Office does not seem to be dissipating, with Google Co-Founder Sergey Brin recently setting up a […]