Form Your Company

First, anyone over 18 can register a company in Singapore by applying to Accounting and Corporate Regulatory Authority. You can have 1-50 shareholders in your Singapore private limited company. Many business owners choose to do so because it maximises their tax benefits. It also limits their liability to the money they have invested in its shares. Singapore Company Registration Process The process for Singapore company registration is easy. Generally, the local or foreign entrepreneurs can register their company in 1-3 days. It is a credible business structure that scales well. However, such a company must obey strict compliance requirements. You will need to invest in preparing its accounts, directors’ reports and filing annual returns and audits. Singapore company registration process is straightforward and is designed to be free of red tape. Accounting & Corporate Regulatory Authority (ACRA) You need to apply to the Accounting & Corporate Regulatory Authority (ACRA)...

Yes, XBRL filing is mandatory for Singapore companies limited or unlimited by shares. It means they must file their full set of financial statements in XBRL format. The directive has enabled ACRA to receive financial data in standard presentation format. Why is XBRL Filing Mandatory in Singapore? XBRL, or eXtensible Business Reporting Language, is a form of XML. It is used to exchange business' financial information. Uniformly structured data is easy to handle using the latest computer software. It is easy to read, write, store, analyse, and mine for the emerging trends. ACRA achieves it through XBRL format. ACRA also trusts that the use of XBRL will ultimately facilitate business development. It will generate insightful financial information, create a better regulatory climate, improve and transparency. It will also make various financial information available to investors in a timely manner. The data collected through XBRL filing is also useful to auditors, regulators, ...