Micro News

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…


Pursuant to Singapore legislation, all local companies (with some exceptions) are obliged to submit a previous-year estimated profit declaration to tax authorities within 3 months after the end of each financial year. The definition of this Singapore declaration is “Estimated Chargeable Income” (ECI). Based…


In Singapore, VAT is called “Goods and Service Tax” or GST for short. (Let’s stick to this term so that it’s easier for a reader to understand what it is all about). The country’s tax regulations oblige local companies to register for the local type of VAT only in case the taxable turnover exceeds SGD$1m. It…


The EU Commission is preparing to implement new anti-money laundering measures. New legislative acts are intended to define a single-standard term and definition of ‘money laundering’ in all EU countries; which still lack a common interpretation. For some countries, criminal liability for self-laundering…


Although both India and Singapore are far away from Russia, Ukraine and Kazakhstan, and this news might seem of no interest to some readers, it is quite the opposite. Like Cyprus for Russia, Singapore is one of the major investors to India. Apparently, Indian businessmen use Singapore to further invest…



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