Reading Time: 4 minutesDirectors’ duties and liabilities: fundamental requirements to keep a director safe from legal exposures The directors of a private limited company are considered the lawful representatives of the company and they act for and on behalf of the company. In performing their role, the directors, regardless of their nationality, are bounded by the same directors’ […]
Reading Time: 6 minutesThe police possess vast powers in Singapore – the most impactful which would be the power of arrest. Law abiding citizens would not have an encounter with the police that leads to an arrest or usually contemplate such a situation. However, in an unfortunate circumstance encountering the police on the wrong side of the law, […]
Reading Time: 5 minutesIn 2006, Singapore abolished the concept of authorised capital. This streamlined and simplified the evaluation process for investors to evaluate companies. The distinction between authorised and issued share capital can at times be misleading. However, the removal of the concept of authorised capital has made it much easier for companies to distinguish between the two […]
Reading Time: 6 minutesAround the world there have been numerous cases of cross border email scams where individuals or companies received scammed or spoofed emails that pretend to be from C-suite or senior staff of the company or business partners to wire transfer funds to bank accounts in Asia, a lot of times coming to or going through […]
Reading Time: 3 minutesEven against the background of significant changes of the political landscape in Thailand over the past years, as well as the shortage of skilled workers, the country is still regarded amongst one of the best destinations in ASEAN for foreign investment. Thailand is the second largest, highly diversified economy in ASEAN after Indonesia and the […]
Reading Time: 4 minutesThe Story In 60 Seconds Singapore’s laws currently legalise abortion for any woman who requests it – making the Republic one of only three countries in Southeast Asia to allow for abortion upon request by a woman. The abortion law in Singapore is applicable to: Singaporeans and women married to Singaporeans; Holders of a valid […]
Reading Time: 9 minutesIntroduction Following the Government of the Virgin Islands’ report on the public consultation of beneficial ownership of legal entities published in February 2015, the Beneficial Ownership Secure Search System Act 2017 was enacted and came into force on 30 June 2017, which requires certain BVI companies to obtain and maintain updated beneficial ownership information, by […]
Reading Time: 9 minutesGetting injured at work can be a nightmare. Not only are you anxious about recovering from your injury suffered, you may be worried about dealing with complicated claims against your employer. Thankfully, in Singapore, the process of claiming is simplified for workers covered by the Work Injury Compensation Act (WICA). What is WICA? According […]
Reading Time: 11 minutesIn a decision rendered by George Wei J, the Singapore High Court held that a freight forwarder was not liable for trade mark infringement in respect of counterfeit goods that were imported into Singapore and meant to be sent to a third party in Batam. (A) Who are the parties involved in this case? 1. […]
Reading Time: 7 minutesPrivate limited companies are by far the most popular business structure. According to the Department of Statistics, out of the 26,555 business entities formed in 2018, almost 70% were companies. Why is this business structure so popular, and how does one incorporate a private limited company? This guide will address the advantages of a private limited […]
Reading Time: 2 minutesIn order to promote and facilitate the Thailand’s ease of doing business as well as to improve Thailand’s ranking in the next evaluation of the World Bank, including to boost the country’s competitiveness and to increase the opportunity of Thailand to become an effective investment hub in Southeast Asia, the Ministry of Commerce has recently […]
Reading Time: 4 minutesInstruction 11946 issued by the General Department of Taxation (“GDT”) on the 21st of August 2018 (“Instruction 11946”) provides an important clarification regarding the determination of interest rates between related parties. Since the introduction of Circular 151 in early 2014 Cambodian taxpayers were historically able to receive and extend interest free loans to domestic as […]
