Micro News

Singapore offshore companies are obliged to submit two annual reports - Estimated Chargeable Income and a Form C or CS tax statement. ECI must be submitted within 3 months upon the end of a Singapore company’s financial year. If they do not receive the report in due time, Singapore tax authorities calculate…


Despite the “conventional wisdom” of corporate rights amateurs, Shareholders have limited points of leverage in terms of offshore company management. They can interfere with business matters only through Shareholders’ meetings, either scheduled (annual) or extraordinary, and decide on the dismissal or…


Who is a Nominal Director?

The sphere of offshore companies is full of jargon that might mislead a novice. An example of such a jargon term is “Nominal Director”. In fact, no legal concept of “Nominal Director” exists. There is a nominee, who might represent someone. Any person that acts as a “Nominal Director” is actually a…


Definitely not, if you ask me. To understand my point of view, one should remember why a company needs audited documents. Auditing is supposed to provide some kind of protection for Shareholders who have limited rights for company management but also wish to know what is going on with the company. A…


An end-of-year report, also called the Annual Return, reflects primary changes in a company’s structure for the previous financial year. The offshore company structure implies all information regarding Shareholders, Directors, Secretary and the legal address. In case a Singapore offshore company shows…


Quite recently, we’ve visited Hong Kong for business matters and happened to have a small talk with some of our partners that render corporate services on formation and maintenance of Hong Kong offshore companies. All of them complained about the local regulatory body’s having become especially strict…


How severe is Singapore as a jurisdiction?

There is no one who doesn’t know about the austerity of Singapore. Any oversight or misstep is charged with severe penalties. The minor ones are no big deal, but sometimes even court summons are being sent! In our routine at the office, we have to deal with charges and summons almost on a daily basis,…


New legislation regarding debt collection from obligors within the EU has come into effect. The innovation is intended to enhance the recovery of amounts due to small and medium companies holding assets within the EU. Previously, creditors suffered enormous losses, as debt settlement by seizure of assets…



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