Category Archives: Singapore Law

Home »  Singapore Law

Companies (Amendment) Act 2017 – Inward Re-Domiciliation Regime in Singapore

Companies (Amendment) Act 2017 – Inward Re-Domiciliation Regime in Singapore within first half of 2017 The Companies (Amendment) Act 2017 has introduced an inward re-domiciliation regime to allow foreign corporate entities to transfer their registration to Singapore instead of setting up subsidiaries (e.g. foreign corporate entities that may want to…

Setting up and maintaining the Register of Registrable Controllers of Singapore Companies and LLPs

Setting up Newly-incorporated companies and newly registered LLPs are required to keep register of registrable controllers  within 30 days from date of incorporation.   Existing companies and LLPs are required to keep register of controllers within 60 days from date of commencement of the regime (31 Mar 2017).   Companies…

Singapore Companies (Amendment) Act 2017 – Company Seal and Register of Registrable Controllers

Singapore Companies (Amendment) Act 2017 and Limited Liability Partnerships (Amendment) Act 2017 Companies (Amendment) Bill 2017 and Limited Liability Partnerships (Amendment) Bill were passed in Parliament on 10 Mar 2017. Key legislative amendments to take effect from 31 Mar 2017 i) Company Seal With effect from 31 Mar 2017, companies…

Have you updated the Electronic Register of Members (EROM) of your Singapore Company?

One of the recent legislative changes to the Singapore Companies Act is that ACRA will maintain the Registers of Members for private companies in electronic form (EROM) from 3 Jan 2016, and companies will need to update shareholder information that will be recorded in the EROM.  In December 2015, ACRA…

MAS’s new Accredited Investor definition to impact FIs and FIs’ clients

On December 22, 2016, Posted by , In Compliance,Legal,Singapore,Singapore Law,Uncategorized, By ,,,,,,,, , With Comments Off on MAS’s new Accredited Investor definition to impact FIs and FIs’ clients

Changes to the definitions of Accredited Investors (AIs) and Institutional Investors (IIs), part of the Monetary Authority of Singapore’s (MAS) proposed changes to its capital markets regulatory framework and followed a consultation paper issued on 21 July 21 2014, will impact Singapore-based financial institutions on their policy, documentation, systems, and procedures….

A Reminder on Anti-Money Laundering and Countering of Financing Terrorism

The Monetary Authority of Singapore (MAS) announced on Tuesday, May 24 that it has ordered the closure of BSI Bank in Singapore over serious breaches of anti-money laundering requirements, poor management oversight of the bank’s operations, and gross misconduct by some of the bank’s staff. BSI Bank has also been fined…

Running a Business without Proper Legal and Compliance?

Complying to local regulations and protecting your company’s rights is essential for all businesses, particularly at the start-up stage. We noticed that many business owners will forego having proper legal and compliance procedures in place for reasons such as: Company is new and relatively small; or Legal and compliance services are…

Update on Singapore Permanent Residency – Global Investor Programme (GIP)

The Global Investor Programme (GIP) eases the way for foreign investors interested to set up and operate businesses in Singapore in obtaining their Singapore Permanent Residency (PR) status to live in Singapore. The information below is updated as at 29th March 2016. GENERAL Client may apply to be a Permanent…

Singapore Companies (Amendment) Act 2014 – Financial Reporting

The Selected Key Legislative Amendments in the Singapore Companies (Amendment) Act 2014 – Financial Reporting 1. Small company audit exemption Previous Requirement Exempt private companies (EPCs) with annual revenue of $5m or less are exempted from audit. Changes New “small company” criteria for audit exemption: • Small company is defined as…

Singapore Companies (Amendment) Act 2014 – Internal Matters

The Selected Key Legislative Amendments in the Singapore Companies (Amendment) Act 2014 – Companies’ Internal Matters 1. Multiple Proxies Regime Previous Requirement • Unless articles provide otherwise, Member can appoint up to two proxies, and proxy can only vote by poll. • Articles usually provide for 48-hour cut off time for submission…