Introduction to Business Partnerships In Singapore, strategic business partnerships are a common avenue for business expansion and collaboration. Business partnerships allow entities to pool resources, share risks, and leverage each other’s strengths. The legal framework governing these partnerships is robust, ensuring that the interests of all parties are protected. The primary types of business partnerships … Read more
Understanding Legal Depreciation In Singapore, the concept of legal depreciation for fixed assets is pivotal for businesses aiming to optimize their tax liabilities. Depreciation is essentially the allocation of the cost of an asset over its useful life. Under the Singapore Income Tax Act, businesses can claim capital allowances on fixed assets used in the … Read more
Navigating Business Model Shifts In the ever-evolving business landscape of Singapore, companies face the constant need to adapt their business models to remain competitive and comply with changing regulatory environments. The Singaporean government, renowned for its pro-business policies, frequently updates its regulations to foster innovation and economic growth. However, these updates require businesses to stay … Read more
Understanding Brokerage Fees In the fast-evolving landscape of online trading platforms, understanding the intricacies of brokerage fees is crucial for both investors and traders in Singapore. Brokerage fees, essentially the costs incurred for executing buy and sell orders, can significantly impact your investment returns. According to the Securities and Futures Act (Cap. 289), all brokerage … Read more
Bankruptcy Protection Procedures in Singapore Understanding Bankruptcy Bankruptcy is a legal process through which individuals or businesses unable to meet their debt obligations can seek relief from some or all of their debts. In Singapore, the bankruptcy process is governed by the Insolvency, Restructuring and Dissolution Act 2018 (IRDA), which replaced the previous Bankruptcy Act. … Read more
Understanding Goodwill Goodwill is an intangible asset often encountered during business acquisitions. It represents the excess amount paid over the fair market value of identifiable assets and liabilities. In Singapore, goodwill is not recorded on the balance sheet unless it arises from a transaction, such as the acquisition of a company. According to the Singapore … Read more
Setting Loan Collateral and Legal Requirements in Singapore Understanding Collateral In the context of financing, collateral refers to an asset that a borrower offers to a lender as security for a loan. If the borrower fails to meet the obligations of the loan, the lender can seize the collateral to recover the borrowed amount. In … Read more
Understanding Revenue Transfer Revenue transfer, often referred to as income shifting, is an essential concept in the realm of taxation and business operations in Singapore. It involves the allocation of revenue and expenses between closely related entities to either maximize tax benefits or adhere to legal requirements. The Singaporean legal framework is stringent when it … Read more
Introduction to Overseas Asset Management Managing overseas assets can be a complex but rewarding endeavor for Singaporeans. With globalization, individuals and businesses are increasingly investing in foreign properties, securities, and other assets. However, understanding the legal requirements and tax implications is crucial to maximizing your returns while remaining compliant with Singaporean laws. Singapore’s legal framework, … Read more
Introduction to Maritime Law Maritime law, often referred to as admiralty law, governs private maritime disputes and offenses. In Singapore, maritime law is a critical cornerstone due to its strategic location and status as a global maritime hub. The legal framework in Singapore is robust, ensuring that the rights and responsibilities of all parties involved … Read more