Startup FAQs: Requirements for companies employing Employment Pass holders

Sep 18

Startup FAQs: Requirements for companies employing Employment Pass holders

There are conditions in the statutory laws of Singapore that the employer must comply once the company has successfully applied for, and issued the Employment Pass of the startup founder or the company’s new employee. In a brief overview, here some questions that you might have, as the employer, when you have Employment Pass holders on your payroll: 1. What’s in a payslip? Is this necessary? 2. Do I...

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Do what? 6 secrets for startups recruiting in Singapore

Aug 10

Do what? 6 secrets for startups recruiting in Singapore

So you have lined up your funding round and got your Singapore entity incorporated, and now it’s time to scale up your team rapidly from 5 to 45. The applications you receive are a mix of talented people, from the brilliant local Sales Head, and the programmer on an Employment Pass currently working in another Singapore startup, to that talented Platform Head in South Africa, who is just right...

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Tax Clearance for Employees – Startup FAQs

Jun 20

Tax Clearance for Employees – Startup FAQs

The lowdown on tax clearance for departing foreign employees of a Singapore company. A company is required to withhold the final month’s salary, and file a tax clearance with Inland Revenue Authority Of Singapore (IRAS) when a foreign employee is about to depart the company’s payroll. The requirement flows from Section 68 (5) of the Singapore’s Income Tax Act as reproduced below (highlighting ours) The Employment Act of Singapore,...

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FAQs: Late filing of personal income tax for individuals and sole proprietors

Jun 05

FAQs: Late filing of personal income tax for individuals and sole proprietors

“Better late than never”, or in this case, a fine or a court summon! If you haven’t done so, you can still file your personal income tax NOW. We have answered all the common questions below on personal tax filing and what you can do when you are way past the deadline. If you need further consultation, drop us a message in the message box below or send an...

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Limited Partnership vs Limited Liability Partnership

Apr 21

Limited Partnership vs Limited Liability Partnership

Limited Partnership or LP A Limited Partnership (LP) is comprised of at least one General Partner and at least one Limited Partner. This is a business vehicle introduced by ACRA in 2009. Pros and Cons of Limited Partnership A corporate body can act as a Limited Partner or General Partner Liability of Limited Partner is restricted to capital contributed Easy to register and minimal compliance   General Partner has...

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