Societies Cannot Own Company Shares | Bestar Societies cannot Hold Shares of a Company In Singapore’s vibrant business ecosystem, clarity on who can own a company is just as important as how that company operates. A common point of confusion for non-profits and clubs is whether a "Society" can directly hold shares in a private limited company. The short answer? No. Under Singapore law, a Society is not a separate legal entity, which significantly impacts its ability to own

Remote Work & Tax: A Guide for Employees of Foreign Companies in Singapore | Bestar Working for an overseas company while living in Singapore? Learn about the 60-day tax exemption, Area Representative status, and how to stay IRAS compliant in 2024/2025. Remote Work & Tax: A Guide for Employees of Foreign Companies in Singapore Are You Working in Singapore for a Foreign Employer? With the rise of remote work, many professionals in Singapore are employed by entities with no phy

Singapore Family Office Tax Schemes: Sections 13O and 13U | Bestar Navigating Singapore’s Wealth Management Landscape: Sections 13O and 13U Singapore Family Office Tax Schemes: Sections 13O and 13U Singapore continues to solidify its status as the premier global hub for Family Offices. Central to this appeal are the Section 13O (Singapore Resident Fund Scheme)  and Section 13U (Enhanced Tier Fund Scheme)  tax incentive programs. For Ultra-High-Net-Worth (UHNW) families, these

Singapore Director Signatures on Audit Reports | Bestar Singapore Director Signatures on Audit Reports In Singapore, the law is quite strict regarding financial accountability. Under Section 201(16) of the Companies Act , if a company has two or more directors, the Directors' Statement (which accompanies the financial statements and the audit report) must be signed by at least two directors. If you are in a situation where only one director is available or willing to sign, yo

Singapore Tax Reliefs: Spouse & Child Claiming Spouse Relief  and Qualifying Child Relief (QCR)  is one of the most effective ways for Singapore tax residents to lower their chargeable income. By understanding the updated eligibility criteria for 2026 (Year of Assessment), you can ensure you maximize your tax savings while staying within the $80,000 personal relief cap . Here is everything you need to know to claim these reliefs effectively. 1. Spouse Relief: Supporting Your

The Definitive Guide to Singapore Statutory Audit & Wealth Preservation for SFOs | Bestar Singapore SFO Audit & Wealth Preservation The Definitive Guide to Singapore Statutory Audit & Wealth Preservation for SFOs In 2026, Singapore remains the premier global hub for Single Family Offices (SFOs), but the regulatory landscape has shifted. For UHNW families, "wealth preservation" now means navigating a rigorous intersection of statutory compliance , tax transparency , and digita

Navigating FRS 116: The Essential Guide to Lease Accounting | Bestar FRS 116 Lease Accounting Guide Navigating FRS 116: The Essential Guide to Lease Accounting In the modern financial landscape, FRS 116 (Leases)  represents one of the most significant shifts in accounting standards. By bringing nearly all leases onto the balance sheet, it has fundamentally changed how businesses report debt, assets, and expenses. Whether you are a CFO looking to optimize your financial ratios

Singapore Dropshipping Business Guide | Bestar Dropshipping Business Inquiry Assistance Singapore Singapore Dropshipping Business Guide Starting a dropshipping business in Singapore is a popular way to enter e-commerce because of the country's high digital literacy and pro-business environment. However, there are specific legal and tax frameworks you must follow to stay compliant in 2026. Here is a comprehensive guide to navigating your inquiry and setting up your business co

MAS Form 6 Compliance Guide | Bestar MAS Form 6 Compliance Guide This guide provides a comprehensive overview of MAS Form 6 . What is MAS Form 6? MAS Form 6 is a critical regulatory submission required by the Monetary Authority of Singapore (MAS) . Depending on your business entity type, it serves one of three primary functions: Auditor’s Certification (CMS Licensees) : For holders of a Capital Markets Services (CMS) License, Form 6 is the official auditor's certification o

The Definitive Guide to Choosing Accounting and Audit Services in Singapore (2026 SME Edition) | Bestar This guide is optimized to help Singapore SMEs navigate the high-stakes regulatory environment of 2026. By choosing a partner that integrates tax intelligence with compliance automation, business owners can shift from "defensive filing" to "strategic growth." The Definitive Guide to Choosing Accounting and Audit Services in Singapore (2026 SME Edition) Starting or scaling a

Temple Financial Audits | Bestar Singapore Temple Financial Audit Guide Temple Financial Audits Temple Audits in Singapore: Ensuring Financial Integrity and Compliance In Singapore’s diverse religious landscape, temples are more than spiritual hubs; they are significant financial entities managed by boards of trustees and management committees. With the Commissioner of Charities (COC) and the Charities Act providing strict oversight, maintaining financial transparency is no

The Ultimate Guide to Accounting Services in Singapore (2026 Edition) | Bestar The Ultimate Guide to Accounting Services in Singapore (2026 Edition) In Singapore’s rapidly evolving financial landscape, choosing the right accounting service is no longer just about "keeping the books." With the 2026 implementation of mandatory InvoiceNow (E-invoicing)  and tightening ACRA/IRAS digital filing requirements , SMEs need a strategic partner, not just a data entry clerk. Whether you

How to Open a Company in Singapore (2026 Guide): 24-Hour Setup Start your Singapore business in 2026 with our definitive guide. Learn ACRA requirements, costs, and tax incentives. Get your UEN in 24 hours. 100% foreign-owned. How to Open a Company in Singapore: The Definitive 2026 Guide to Incorporation | Bestar How to Open a Company in Singapore: The Definitive 2026 Guide to Incorporation Starting a business in Singapore remains one of the most strategic moves an entrepreneu

Bestar’s Reply: Setting Up a VCC Inquiry Bestar’s Reply: Setting Up a VCC Inquiry Subject:   Inquiry: Setting Up a Variable Capital Company (VCC) – Bestar Singapore Dear [Client Name], Thank you for reaching out to Bestar Singapore . We are pleased to assist you in establishing your Variable Capital Company (VCC) in Singapore’s thriving fund ecosystem. The VCC framework offers unparalleled flexibility for both traditional and alternative investment strategies. To help you get

Navigating the Secondhand Goods Dealer (SHGD) License in Singapore | Bestar Singapore SHGD License Guide Navigating the Secondhand Goods Dealer (SHGD) License in Singapore If you are planning to buy or sell used items in Singapore—whether it’s vintage watches, electronics, or designer handbags—obtaining a Secondhand Goods Dealer (SHGD) License is a critical legal requirement. Under the Secondhand Goods Dealers Act , the Singapore Police Force (SPF) regulates these transactio

Master Singapore VCC incorporation with our expert guide. From ACRA name application to MAS tax incentives and grant schemes, learn how to set up your investment fund efficiently. The Definitive Guide to Variable Capital Company (VCC) Incorporation in Singapore (2026) | Bestar VCC Incorporation Guide: Strategy & Steps The Definitive Guide to Variable Capital Company (VCC) Incorporation in Singapore (2026) Why the VCC is the "Gold Standard" for Singapore Funds Since its launch

Advance Ruling on Economic Substance Status | Bestar Process for Applying for an IRAS Advance Ruling to get 5 Years of certainty on Economic Substance Status In 2026, navigating the tax landscape for Southeast Asian expansion requires more than just following rules—it requires certainty . The IRAS Advance Ruling (AR) system provides a formal, binding agreement on how the law applies to your specific structure before you commit significant capital. Here is the 2026 roadmap for

Crypto Accounting Services in Singapore: A Guide to Compliance and Growth | Bestar Singapore Crypto Accounting Compliance Guide Crypto Accounting Services in Singapore: A Guide to Compliance and Growth Singapore has firmly established itself as a global hub for digital assets. However, with the Inland Revenue Authority of Singapore (IRAS)  and the Monetary Authority of Singapore (MAS)  tightening regulations, specialized crypto accounting is no longer optional—it is a busines

Group Audits | Bestar Singapore Group Audit Guide This article provides a comprehensive guide to group audits in Singapore, structured for both search visibility (SEO) and user conversion (CRO). Master Guide to Group Audits in Singapore: Compliance & Strategic Benefits For holding companies and multinational corporations (MNCs) headquartered in Singapore, a group audit is more than just a regulatory box to tick. It is a critical mechanism for ensuring financial integrity acr

Switching Auditors in Singapore Process Guide | Bestar Singapore Auditor Switch Process Guide Changing your auditor is a standard part of corporate growth, but in Singapore’s strictly regulated environment, it requires precise adherence to the Singapore Companies Act and ACRA guidelines. This guide outlines the legal process, timelines, and best practices for a seamless transition in 2026. Why Companies Switch Auditors in Singapore While long-term partnerships offer stabili