List of Statutory Requirement for Singapore Company
Being business owner in Singapore , you must be aware of the following statutory requirement applicable to all Singapore registered company :
Company Must Have a Registered Office
All company must have registered office address. And you are required to declare during incorporation stage . Please note that PO Box DOESNOT allowed to used as registered address .
And if you wish to use your residential address as company registered address , please note that only private property is allowed to do so and for HDB , you must apply with HDB Board ( click here for more detail )
Alternative way is you may engaged virtual office services.
Virtual office Address refer to different company sharing the address. Some of service provider may provide meeting room, notification of letter received with certain amount of subscription fees.
Why important : Is a communication bridge between company with the government . Authorities will send all the notice here .
Company must Display of Company Name and Unique Entity Number (UEN)
Click here for what is UEN Number .
There is NO special requirement which form it should be or how is should be present .
Why important : Better differential of the Company especially company who owned sole proprietor with the same name ( ABC Pte ltd vs ABC)
Upon preparation of the company audited / compliance report. Company is required to conduct AGM within the stipulate time frame
If the company opt for exemption from AGM , there need to comply with the following :
Overall, there is 2 major key here , 6 months of 7 months
Why important : AGM is mandatory annual meeting and this is the chance for shareholder to understand how the company performance.
Annual Return Filing with ACRA
Once shareholder approve the report , company must file in with ACRA via Annual Return
Related New : AGM vs Annual Return
Company owner always confuse that there only need to comply with ACRA requirement.
Following is the IRAS Statutory Requirement :
Submission of Form C to IRAS
Singapore registered Company must submit Form C on every November .
Form C is a reporting way to IRAS about company transaction for the preceding financial year end .
Year assessment term will be apply here :
Year assessment 2019 refer to company’s transaction year ended 2018
Estimated Chargeable Income (ECI)
All company must submit their ECI within 3 months from the financial year end .
Example : Biztree Accounting year end is December so our due date for submision of ECI is by 31 march every year
Click here for the list of company exempted from submission of ECI
Apart from the above, company also required to :
- update change with ACRA within stipulate time frame example change in registered address must lodge in within 14 days
- apply business license for certain industrial
- GST registration if applicable
- CPF registration is compulsory if engaged with local resident ( PR / Singaporean )
Related article :
Basic Compliance matters
Worry of late filing penalties and composition fine incurred by ACRA ?
Click here for composition fine vs late filing fine