Achi BiZFAQs

• • Incorrect tags mapped to wrong FS items

• • Missing mandatory disclosure fields

• • Mismatched figures between PDF FS and XBRL

• • Wrong currency tagging

• • Missing comparative data

• • Inconsistent accounting policies

• Leaving required notes untagged

ACHI BIZ uses validation tools and manual checks to prevent such issues.

Introduction

A public company limited by shares can have more than 50 shareholders. The company may raise capital by offering shares and debentures to the public. A public company must register a prospectus with the Monetary Authority of Singapore before making any public offer of shares and debentures.

It is having its own pros and cons as features.

Pros or Advantages

• • It can raise capital by offering shares or debentures to the public.

• Can be listed on Singapore Stock Exchange (SGX)

Cons or Disadvantages

• • There is a lack of confidentiality because public companies have to disclose financial information to the public

• • Stringent regulation, such as Company Secretary’s qualifications and director’s age

• Listed Public companies also have to file reports with Singapore Stock Exchange regularly and comply with statutory requirements and exchange guidelines

Yes. Any dependent pass (DP) holder can start business / company in Singapore to run it with Letter Of Consent (LOC).

• Click here to learn more about LOC for DP holders who are the business owners.

Advantages / Pros of Limited Partnership (LP) in Singapore:

• • Tax benefits: As with a general partnership, the profits and losses in a limited partnership flow through the business to the partners, all of whom are taxed on their personal income tax returns. The difference is that the limited partners in the relationship get to share in the profits and losses, but they do not have to participate in the business itself.

• • Liability limits: A limited partner’s liability for the partnership’s debt is limited to the amount of money or property that individual partner contributed to the partnership. This is not true of the general partnership, where any money or property contributed becomes an asset of all the partners.

• • The general partners take charge: In a limited partnership, the general partners deal with the daily operations and responsibilities and don’t need to consult the limited partners for most business decisions.

• • No turnover issues: Limited partners can be replaced or leave without dissolving the limited partnership.

• • Less paperwork: Creating a limited partnership, like a general partnership, requires less paperwork than forming a corporation. However, it’s important to create and file a partnership agreement in the county where your company does business.

• Investment opportunities: A limited partnership is a great way to offer investors the opportunity to benefit from the profits and losses of your business without getting them actually involved in the business.

Disadvantages / Cons of Limited Partnership (LP) in Singapore:

• • Risks to the general partners: In a limited partnership, the general partners must carry the burden of all the business’s debts and obligations. If the company is sued or enters into bankruptcy, all debts and liabilities are the responsibility of the general partners. Also, each general partner has the ability to make decisions on behalf of the company, and those decisions become the responsibility of all the general partners.

• Compliance challenges: A general partnership does require less paperwork than a corporation, but because in essence you have investors (the limited partners), you must still hold annual meetings and create a detailed partnership agreement.

When you are intending to set-up a company in Singapore, ACHI will guide you through till the de-registration along with the requirements of Human Resources, Compliance, Annual Reports, GST, Taxation, etc.

We offer custom services based on the needs of businesses ranging from small to mid-sized different types of firms and entities.

For Secretarial services: Click the individual type to learn more about the pricing and processing for incorporation: A wide range of incorporation services of a Singapore Private Limited Company is available to the following category of clients:

• • Singapore Resident with Individual Shareholding

• • Singapore Resident with Corporate Shareholding

• • Foreign Resident with Nominee Director   

• Foreign Resident with Entrepreneur Pass

Click here to learn more about Singapore Private Limited Company by Shares.

For Bookkeeping / Accounting / GST / Taxation Services:

• • Click here to learn more about Bookkeeping and Accounting Services.

Click here to learn more about Corporate Income Tax, GST, Withholding Tax and Personal Income Tax Services.