All companies incorporated in Singapore must follow the legal obligations every year regardless of their size or business structure.
Compared to other countries, the obligations in Singapore in fact quite simple and straightforward.
Still, many businessman may forget the deadline, which leads to unnecessary fines and penalties.
Therefore, it is crucial to understand the compliance requirements and come up with a plan to stay on top of them.
The details to be included in your Annual Returns:
Confirm that the company type, registered office address, the particulars of the company officers, and details of registered charges are up to date.
Confirm whether there are any changes to the company’s primary and secondary business activities.
Verify the company’s shares details, such as the number of shares held, issued share capital, and amount of paid up share capital.
Find out if you have to fill the financial statements to ACRA (Accounting Corporate and Regulatory Authority):
If you are required to file a full set of financial statements in XBRL format, these must be prepared and validated before you can file the annual return.
Date of Annual General Meeting (if applicable)
Indicate the date of your company’s annual general meeting (AGM), if it was held.