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Paul Hype Page (Singapore) - Company Registration Logo

Singapore Accounting, Audit & Payroll

How should founders recalibrate pay, equity, and relocation plans as Singapore’s landed housing becomes a higher “local wealth benchmark”?

As Singapore’s landed housing increasingly becomes a local “wealth benchmark,” senior hires may anchor compensation expectations to family housing timelines and near-term liquidity. This guide gives founders decision rules and scenarios to refresh salary bands, use time-bound bonuses, keep ESOP credible, and redesign relocation support without breaking internal equity or budgets.

2026-09-16T17:47:20+08:00
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Do your Singapore statutory financial statements need to follow SFRS or SFRS(I), and how does this connect to IFRS?

Choosing the wrong Singapore reporting framework can trigger late audit adjustments, disclosure rework, and misalignment with group reporting. This guide gives a practical workflow to determine whether SFRS or SFRS(I) likely applies, how each connects to IFRS through the ASC, and what to confirm with ACRA and ASC sources.

2026-09-16T09:46:07+08:00
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Does My Singapore Private Company Need to Have Its Financial Statements Audited Every Year?

Singapore private companies are generally expected to have their financial statements audited each year unless they qualify for an exemption. This guide shows how to apply the small company (and, where relevant, small group) tests using the 2-out-of-3 thresholds over two consecutive financial years, and what you still need to do if you are exempt.

2026-09-15T10:47:35+08:00
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Do all Singapore-incorporated companies need financial statements that comply with Singapore Accounting Standards?

Singapore-incorporated companies generally need statutory financial statements prepared under an applicable Singapore financial reporting framework, not simply a last-minute conversion of group IFRS packs. This guide explains what counts as statutory accounts, how to choose between SFRS, SFRS for Small Entities, and SFRS(I), and the controls directors and finance teams use to avoid ACRA-facing rework and audit delays.

2026-09-15T10:16:43+08:00
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Does Your Singapore Company Need an Audit or Can You File Unaudited Accounts as a Small or Dormant Company?

Work out whether your company is legally audit-required or can rely on audit exemption as a small or dormant company, including the common traps around group structures and changing activity. This guide also explains how the audit decision relates to IRAS filing (Form C-S (Lite), Form C-S, or Form C) and what financial records you should still have ready.

2026-09-14T16:46:02+08:00
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Do all Singapore companies need to prepare and file financial statements with ACRA and are any exempt?

Many SMEs confuse the obligation to prepare statutory financial statements with the separate requirement to file financial statements with ACRA, often in XBRL. This guide gives a practical workflow to test dormancy, confirm filing mode, and set up a close-to-file process that avoids exemption misreads and public-record surprises.

2026-09-11T15:00:08+08:00
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Does My Singapore Private Company Need an Audit, or Can We Rely on Audit Exemption?

Singapore private companies generally need an audit unless they qualify for audit exemption under ACRA’s small company regime. This guide gives a practical yes/no pathway covering the 2-out-of-3 test over two consecutive financial years, how group structures change the analysis, and what to do in transition years.

2026-09-08T09:17:22+08:00
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How can Singapore Budget 2026 help SMEs plan tax, accounting, and overseas expansion from 2026 to 2028?

Singapore Budget 2026 can shape how SMEs manage YA2026 tax, strengthen accounting controls, and fund overseas expansion through 2026–2028. Learn the practical checklists and documentation habits that improve rebate accuracy, grant success, and investor readiness—with support from Paul Hype Page & Co.

2026-02-26T18:19:50+08:00
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Is Your Accounting & Tax Advisory Team Ready for the MERCOSUR–Singapore FTA in 2026?

The MERCOSUR–Singapore FTA could improve tariff outcomes for Singapore SMEs expanding into Brazil and Argentina in 2026–2027, but documentation, Incoterms, and tax structuring can make or break margin. Learn how to prepare your accounting, customs evidence trail, cross-border tax plan, and banking readiness so growth doesn’t outpace compliance.

2026-02-11T17:39:28+08:00
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A company is deemed exempt from audits in Singapore, which means these companies will not need to appoint an auditor to have their accounts audited. However, they need to qualify to be a ‘small’ company based on at least 2 of these 3 criteria:

  1. Revenue not exceeding SGD 10 million for the financial year.
  2. Total assets not exceeding SGD 10 million at the end of the financial year.
  3. Number of employees not exceeding 50.

Despite such small companies are exempt from auditing, they still need to prepare accurate financial statements that comply with the standards in Singapore.

Auditing Practices in Singapore

  1. Enhances Credibility And Trust
    By providing independent assurance of the accuracy and reliability of a company’s financial statements, auditing helps to build credibility and trust with investors, creditors, and other stakeholders. This can lead to increased confidence in the company’s financial position and ultimately support its long-term success.
  2. Improves Financial Management
    Auditing provides valuable insights into a company’s financial health, which can help your managers make better decisions and improve financial management practices. This in turn leads to improved efficiency, better use of resources, and ultimately better financial results.
  3. Ensures Compliance With Regulations
    Auditing helps to ensure that a company complies with regulatory requirements and industry standards. By ensuring compliance with regulations, your company will be able to avoid legal and financial penalties and operate in a responsible and ethical manner.
  4. Helps Detect And Prevent Fraud
    Auditors are trained to identify and investigate fraud and other irregularities, which will definitely help you avoid any fraudulent activities in a company. This is especially important for maintaining the integrity of financial reporting and ensuring that stakeholders have accurate information to make informed decisio

ACRA
ACRA is Singapore’s business regulator. It ensures a trusted business environment by overseeing companies, accountants, and corporate service providers. Its functions include registration, financial reporting, auditing, governance, and disclosure. ACRA’s online platform, BizFile+, simplifies business processes.

IRAS
IRAS is Singapore’s tax authority. It assesses, collects, and refunds taxes. IRAS also educates taxpayers and investigates non-compliance. The MyIRAS portal offers online tax services.

Auditing in Singapore
In essence, ACRA sets the rules, and IRAS enforces them. Both agencies work together to maintain the integrity of financial reporting and ensure that companies are operating within the law. This is essential for investors, lenders, and other stakeholders who rely on accurate financial information.

certified audit partner logo

Paul Hype Page provides you with strategic business expansion and business compliance services for over 2 decades, servicing the best of the South East Asia region. We make your entrepreneurial experience seamless for both locals and foreign expats.

We can issue an IRAS-approved audit report that meets both the Singapore government’s requirements and your company’s needs. The audit function of your company is in good hands with our professional Singapore-certified auditors.

Our audit services in Singapore consist of a vast variety to cater to the specific needs of your organization.

  1. Annual Financial Audit
  2. Special Purpose Audit
  3. Certification for Subsidy Claim
  4. Audit
  5. Fixed Assets Certification
  6. Claim Certification
  7. Shares Certification
  8. Personal Income Certification

Foreigners looking to incorporate a company in Singapore must appoint a nominee director (local director) as required by ACRA regulations. A nominee director acts on behalf of the business owner but does not hold ownership or management control.

For Employment Pass (EP) holders, nominee director services allow for a smooth transition of ownership once the EP is approved. Options include Short-Term Nominee Director (STND) services for 2 or 6 months, ensuring compliance while awaiting EP approval.

If you are a foreigner, you cannot be the director of the company unless you have an Employment Pass also known as an EP. This renewable work visa permits you to live and work in Singapore, whether you’re an employee, business owner, or anything in between.

It’s the most popular choice for foreigners looking to start a business or relocate to Singapore.

First, You will have to incorporate your company under the name of a local Singapore director (Nominee Director). Then, you will have to apply EPass under your company so that we can transfer the ownership to you under your Employment Pass (EP).

The estimated timeline for the Singapore EP application is between 2-4 months, depending on the case. In some instances, it could drag up to 6 months if multiple rounds of appeals are requested.

Singapore Employment Pass (EP) – Eligibility & Benefits

The Singapore Employment Pass (EP) is a work visa for foreign professionals, managers, and executives relocating to Singapore.

Eligibility Criteria

You can apply for an EP if you:
✔️ Have a job offer in a managerial, executive, or specialized role from a Singapore company
✔️ Earn a minimum fixed salary of S$5,000/month
✔️ Hold a recognized diploma or degree from a reputable university
✔️ Possess specialist skills, professional qualifications, or relevant work experience
✔️ Score at least 40 points under the COMPASS framework

Why Apply for an Employment Pass?

✅ Legally live and work in Singapore
✅ Hassle-free travel without requiring an entry visa
✅ Potential pathway to Permanent Residency
✅ Flexibility to start and manage your own business
✅ Benefit from Singapore’s low tax rates

Are you a business owner in Singapore looking to expand your operations and reach new markets? Considering entry into a new market or expanding an existing one overseas? The MRA grant offers the financial boost you need to make it happen.

The purpose of the MRA grant is to support Singapore owned businesses for business development, promotion, and set-up costs when you set up a business in oversea.

At least 30% of the company’s equity must be held directly or indirectly by Singapore Permanent Residents (PRs) or citizens, determined by ultimate individual ownership.

The grant covers up to 50% of eligible costs for Local SMEs, with specific caps for different activities and limited to a maximum of S$100,000 per new market and may include:

  • Overseas Market Promotion (capped at S$20,000)
  • Overseas Business Development (capped at S$50,000)
  • Overseas Market Set-up (capped at S$30,000)

Currently, from April 1, 2023 to March 31, 2025, the grant covers up to 50% of eligible costs, capped at S$100,000.

If you are planning to establish a business in Singapore, opening a corporate bank account is a mandatory step upon incorporation. A dedicated corporate account ensures that business transactions remain separate from personal finances, allowing for clearer cash flow management, accurate income tracking, and efficient expense monitoring.

Our focus is to demonstrate your company’s tax substance and assist in selecting a banking solution tailored to your business needs. Most importantly, you do not need to be physically present—we collaborate with our trusted banking partners to enhance your chances of a successful corporate account opening.

If you are a foreigner, you will need a nominee director (local director) to incorporate your company in Singapore.

What is a Nominee Director?

Nominee director is an individual who is appointed to act as a director of the company on behalf of another individual or entity. For all foreigners establishing businesses in Singapore, having a nominee director is essential due to regulations from the Accounting & Corporate Regulatory Authority (ACRA).

There are 2 types of Nominee Director services in Singapore.

They are:

  • Long term Nominee Director (LTND) : 12 months
  • Short Term Nominee Director (STND) : 2 months and 6 months

If you are a foreigner, you cannot be the director of the company unless you have an Employment Pass.

First, You will have to incorporate your company under the name of a local Singapore director (Nominee Director). Then, you will have to apply EPass under your company so that we can transfer the ownership to you under your Employment Pass (EP).

What is Singapore Employment Pass?

Singapore Employment Pass, often referred to as the ‘EP,’ a work visa is issued to foreign professionals, managers, executives, and experts relocating to work in Singapore.

The estimated timeline for the Singapore EP application is between 2-4 months, depending on the case. In some instances, it could drag up to 6 months if multiple rounds of appeals are requested.

Check Your Company Name through ACRA using our free tool!

The requirements for registering a company in Singapore are simple and straightforward. They are:

At least one local resident director

Both Singapore residents and foreigners can serve as directors of a Singapore company, provided there is at least one director who is a Singapore resident.

At least one shareholder

To register a company in Singapore, you need at least one shareholder who can be a person or another company. You can have up to 50 shareholders, and all of them can be foreigners.

Local company secretary

Every Singapore company must have a company secretary who lives in Singapore and is responsible for ensuring the company meets its regulatory requirements and submits necessary filings.

Minimum of $1 Paid up Capital

You can establish your Singapore company with just $1 in paid up capital and share capital. If needed, you can add more funds later and inform the company registrar.

Registered Address in Singapore

Your company needs a registered address in Singapore where all the official documents will be sent to ; a PO box isn’t acceptable.
Contact Info

Address: 30 Petain Road Singapore 208099

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