EP Eligibility Without University Degree | Bestar EP Eligibility Without University Degree Can a candidate without a university degree qualify for an EP? Yes, a candidate without a university degree can qualify for a Singapore Employment Pass (EP). Under Singapore's Complementarity Assessment Framework (COMPASS), a university degree is not a mandatory prerequisite, though holding one makes qualifying easier. How It Works Under COMPASS To secure an EP, candidates must pass

Employment Pass | Bestar Employment Pass The Singapore Employment Pass (EP) is a work visa issued by the Ministry of Manpower (MOM) allowing foreign professionals, managers, executives, and specialists to work in Singapore. Candidates must earn a minimum qualifying salary of S$5,600 per month (higher for financial services and older, experienced applicants) and pass the COMPASS points system. Key Requirements & Eligibility Qualifying Salary: Minimum of S$5,600/month for non-f

Specialized Motor Trade Accounting in Singapore | Bestar Specialized Motor Trade Accounting in Singapore Specialized motor trade accounting in Singapore requires managing distinct regulatory obligations like the IRAS Gross Margin Scheme and tracking variable vehicle holding costs. Tailoring your financial operations ensures compliance with the 17% corporate tax framework and accurate quarterly GST filings. Core Motor Trade Services Gross Margin Scheme (GMS): Compute output ta

How to Switch Service Provider to Bestar How to Switch Service Provider to Bestar Switching your corporate secretarial and accounting services to Bestar Singapore takes about two weeks. Review your contract notice period (typically 30 days), engage Bestar to prepare resignation and appointment resolutions, extract your digital records, and let Bestar file the change on ACRA BizFile+. Step-by-Step Transition Process Review Agreement: Check your current subscription terms, noti

Due Diligence on Corporate Mergers and Acquisitions | Bestar Due Diligence on Corporate Mergers and Acquisitions Corporate mergers and acquisitions (M&A) due diligence is a rigorous investigative process used to evaluate a target company’s financial health, legal compliance, operational framework, and strategic fit. It mitigates hidden risks, validates asset valuation, and uncovers integration synergies before finalizing a transaction. Core Pillars of Investigation Financial

Financial and Tax Due Diligence | Bestar Financial and Tax Due Diligence Financial and tax due diligence is a careful review of a target company's financial records, health, and tax compliance before a business deal. It helps buyers find hidden debts, check real earnings, measure tax risks, and decide the final purchase price. Financial Due Diligence Quality of earnings: Check true profit by removing one-time gains or unusual costs. Working capital: Review cash flow needs,

FRS 21 Foreign Currency Translation SFRS / FRS 21 Foreign Currency Translation Standards | Bestar SFRS / FRS 21 Foreign Currency Translation Standards SFRS(I) 1-21 / FRS 21 (The Effects of Changes in Foreign Exchange Rates) outlines how to include foreign currency transactions and foreign operations in an entity's financial statements, and how to translate financial statements into a presentation currency. 1. Key Definitions To apply FRS 21 correctly, three types of currencie

Shareholder Authority: Under the Singapore Companies Act, shareholders have the ultimate authority to appoint or change auditors at the AGM. Shareholder Auditor Authority Under Singapore Law | Bestar Shareholder Auditor Authority Under Singapore Law Spot on. Under Section 205 of the Singapore Companies Act 1967, shareholders hold the ultimate authority when it comes to appointing, replacing, or removing a company's auditors. Because auditors serve as an independent check on m

Dormant Company Limited by Guarantee in Singapore | Bestar Dormant Company Limited by Guarantee in Singapore A dormant company limited by guarantee (CLG) in Singapore is a non-profit or public-type entity with no share capital that has no accounting transactions or business income during a financial period. Key elements include simplified compliance rules and distinct regulatory definitions. ACRA vs. IRAS Definitions ACRA (Accounting and Corporate Regulatory Authority): A CLG

DP Holder as Singapore Director Singapore Director Eligibility for DP Holder | Bestar Singapore Director Eligibility for DP Holder In Singapore, whether a Dependant’s Pass (DP) holder can serve as a director depends on ACRA (Companies Act) requirements and Ministry of Manpower (MOM) work authorization rules. 1. Statutory Eligibility (ACRA & Companies Act) Under Section 145 of the Singapore Companies Act, any individual can be appointed as a director if they meet the basic s

SPV Fund Admin & Compliance SPV Fund Admin & Compliance Lifecycle | Bestar SPV Fund Admin & Compliance Lifecycle Here is a comprehensive breakdown of Special Purpose Vehicle (SPV) Fund Administration and Compliance across the full lifecycle. 1. Structure & Vehicle Setup Action Area Key Deliverables & Responsibilities Entity Formation Drafting constitutional documents (Articles of Association, LLC Operating Agreements, or Limited Partnership Agreements), registration with cor

Group Audit | Bestar Group Audit A group audit is an examination of consolidated financial statements for a parent company and its subsidiaries, evaluating them as a single economic entity. Key elements include coordination across multiple components, review of intercompany transactions, and application of standards like SSA 600. Key Steps in a Group Audit Planning & Scope: The group auditor sets the overall strategy, identifies components, and applies a risk-based approach.

Bonds | Bestar Bonds A bond is a loan you give to a company or government. They pay you regular interest, and give back your main money amount at the end. Key terms include face value, coupon rate, and maturity. How Bonds Work Lending money: You act as the bank when you buy a bond. Interest (Coupon): The borrower pays you extra cash at set times, like every six months. Getting paid back: When the bond hits its final end date (maturity), you get your original money back. Mai

Singapore Business Excellence: Strategies Bestar Singapore & Enterprise Excellence: Navigating in 2026 | Bestar Bestar Singapore & Enterprise Excellence: Navigating in 2026 Modern corporate decision-makers discover professional services—such as accounting, corporate secretarial, tax compliance, and business advisory—across multiple paradigms: Understanding how trusted professional entities like Bestar Singapore deliver business excellence requires analyzing how modern searc

Share Capital Adjustments and Allotments Share Capital Adjustments & Allotments: Procedures for issuing new shares, share transfers, and restructuring equity allocations | Bestar Share Capital Adjustments & Allotments: Procedures for issuing new shares, share transfers, and restructuring equity allocations Managing share capital adjustments, issuing new shares, and executing share transfers require strict compliance with both internal governance (company constitution, shareho

Corporate Tax Filing | Bestar Corporate Tax Filing Corporate tax filing in Singapore requires submitting both the Estimated Chargeable Income (ECI) and the annual Corporate Income Tax Return (Form C-S, Form C-S (Lite), or Form C) through the myTax Portal by November 30 each year. Key Deadlines & Filings Estimated Chargeable Income (ECI): Must be filed within 3 months of your company's financial year-end (unless exempt). Income Tax Return (Form C-S / C-S (Lite) / C): Due by No

Corporate Secretarial Services | Bestar Corporate Secretarial Services Corporate secretarial services manage legal and regulatory compliance, statutory filings, and record-keeping for businesses. In Singapore, every incorporated company must appoint a qualified, locally resident corporate secretary within six months of setup. Core Duties and Requirements Legal Mandate: Required under the Singapore Companies Act; sole directors cannot act as their own company secretary. Statut

Comparing a Pte. Ltd. versus a Sole Proprietorship or LLP | Bestar Comparing a Pte. Ltd. versus a Sole Proprietorship or LLP Choosing between a Private Limited Company (Pte. Ltd.), a Sole Proprietorship, and a Limited Liability Partnership (LLP) depends on your needs for liability protection, tax rates, and setup costs. A Pte. Ltd. offers a separate legal identity, limited liability, and a flat 17% corporate tax rate. A Sole Proprietorship is owned by one person with unlimite

MAS Grant Scheme: Auditing for Financial Sector Development Fund / FSDF, Financial Process Innovation, Artificial Intelligence and Data Analytics / AIDA, etc. MAS Grant Audit and Claim Process | Bestar MAS Grant Audit and Claim Process When seeking disbursement under schemes funded by the Financial Sector Development Fund (FSDF) — such as the Financial Sector Technology and Innovation (FSTI) tracks like Artificial Intelligence and Data Analytics (AIDA) or Productivity/Innovat

EOR Pass-Through Payroll Accounting Entries | Bestar EOR Pass-Through Payroll Accounting Entries As an EOR in Singapore, you must recognize pass-through payroll as a balance sheet transaction, not an expense. You invoice the client for the gross salary, CPF, and EOR margin. The net salary and statutory deductions are treated as payable liabilities. Recommended Accounting Entries 1. On invoicing the client: Debit: Accounts Receivable (Client) Credit: Deferred Revenue / Pass-Th