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Understanding of Nominee Shareholder in Singapore
In Singapore, the use of nominee shareholder is common for various reasons, including maintaining privacy, protecting assets, or facilitating complex ownership structures. However, it's important to note that Singapore has implemented stricter regulations regarding the use of nominee shareholders to prevent money laundering
Money-Changing Licence in Singapore
Money-changing licensees are licensed and regulated under the Payment Services Act (“PS Act”) to conduct only money-changing services ie. the service of buying or selling foreign currency notes. Entities that provide other payment services must hold a Standard Payment Institution Licence or Major Payment Institution Licence.
Bank Account Opening - Singapore VS Hong Kong
Both Singapore and Hong Kong are world-renowned business centres, attracting global investors with their extremely low tax rates and open business environment. Bank accounts have become one of the most important prerequisites for investors to make investment decisions and operate their businesses.
Guide to Starting A Private Educational Institution Business in Singapore
As a country whose natural resource is only its people, Singapore has a world-class and widely appreciated education system. The public schools are increasingly becoming popular among immigrants, the Ministry of Education conducts an annual admissions exercise during September/October for new international students who wish to join the public schools. International students need to apply for a Student’s Pass in order for them to study in Singapore.
Guide to Starting a Veterinary in Singapore
There is a growing global trend to raise a pet. In Singapore, more people now own dog and cat, the number of dog and cat have grown nearly 19% in five years to reach around 196,000 in year 2019. As the number of pets grow, pet-related services have also seen a jump in demand. In view of this, one may grab the business opportunity by setting up a veterinary centre in Singapore.
Introduction to Telecommunication Licences in Singapore
Persons who want to operate telecommunications systems and provide telecommunication services are required to be licensed by Infocomm Media Development Authority (IMDA). In general, such licensees must be a company incorporated under the Singapore Companies Act, Chapter 50. IMDA adopts a licensing approach which differentiates between Facilities-Based Operations (FBO) Licence and Services-Based Operations (SBO) Licence type of operations.
Guide to Starting a Pet Shop in Singapore
Nowadays, as millennial and Generation Z consumers have come into adulthood, they have embraced the pet-owning and pet-loving lifestyles to a far greater extent than their elders. The pet industry has been experiencing explosive growth recently. In this case, one may grab the business opportunity by setting up his or her own pet shop in Singapore.
Guide to Starting an Early Childhood Development Centre in Singapore
The Early Childhood Development Agency (“ECDA”) serves as the regulatory and developmental authority for all ECDCs in Singapore which provide care and /or education to children below 7 years old. ECDA was established on 1 April 2013 to oversee key aspects of children’s development below 7 years old, across both kindergartens and child care centres.
Guide to Lease an Office Premises in Singapore
The monthly rental fee includes base rent and service charges calculated per square feet of floor area and 7% of GST (Goods and Service Tax) if the landlord is GST-registered. In overall, Singapore office base rent rates and service charges averaging from S$4.50/sqft to S$10.00/sqft and S$0.70/sqft – S$1.20/sqft respectively depending on the locations and buildings.
Guide to Starting a Traditional Chinese Medicine Business in Singapore
All Chinese Proprietary Medicines (CPM) i.e. products in the finished dosage forms (e.g. tablet, capsule, liquid) are regulated by the Health Sciences Authority (HSA) and must comply with a set of safety and quality criteria before they are allowed to be sold in Singapore. In addition, CPM dealers (importers, wholesale dealers and manufacturers) are also required to be licensed by HSA.