Small Business Accounting | Bestar Small Business Accounting Small business accounting in Singapore requires tracking daily income and expenses, following local compliance rules with ACRA and IRAS, and keeping all financial paperwork for at least five years. 📅 Core Accounting Setup Steps Choose a method: Pick cash-basis accounting (recording money when it changes hands) or accrual-basis accounting (recording money when earned or billed). Use cloud software: Set up local comp

Singapore Updates Family Office Rules | Bestar Singapore Updates Family Office Rules The Monetary Authority of Singapore (MAS) announced key regulatory updates to the Single Family Office (SFO) tax incentive schemes (Sections 13O, 13OA, and 13U). The changes streamline operational requirements while sharpening Anti-Money Laundering (AML) oversight to ensure Singapore remains an attractive yet well-governed wealth hub. Key Relaxation of Tax Rules Phased Hiring Requirements:

M&A Strategy and Services | Bestar M&A Strategy and Services Mergers and Acquisitions (M&A) strategy and services involve planning and executing business combinations, asset purchases, or joint ventures to accelerate growth, enter new markets, or acquire critical technologies. Advisory firms (such as Bestar Singapore and Gold House M&A) guide companies from initial portfolio review to post-deal integration. 💡 Core M&A Strategy Components Corporate Alignment: Match deal goals

Accounting and Tax | Bestar Accounting and Tax Professional accounting and tax services for Singapore businesses encompass daily bookkeeping, financial statement compilation, and mandatory compliance filings with ACRA and IRAS. Costs typically range from S$800 to over S$3,500 annually for small-to-medium enterprises depending on transaction volume and whether GST and payroll are included. Key Compliance Requirements in Singapore Corporate Tax (IRAS): File Estimated Chargeable

M&A (Mergers and Acquisitions) due diligence | Bestar M&A (Mergers and Acquisitions) Due Diligence M&A (Mergers and Acquisitions) due diligence is the comprehensive, systematic appraisal conducted by a buyer to verify a target company’s financial, legal, operational, and commercial records—validating assumptions, exposing hidden liabilities, and confirming valuation before closing a deal. Core Pillars of Investigation Financial: Verify quality of earnings, normalized EBITDA,

Share vs. Asset Purchase Tax Implications Compare Share Purchase vs Asset Purchase Tax Implications | Bestr Compare Share Purchase vs Asset Purchase Tax Implications Choosing between a Share Purchase (Stock Sale) and an Asset Purchase is one of the most critical structural decisions in M&A. While commercial risks and operational mechanics play major roles, the tax implications directly dictate net proceeds for the seller and future tax efficiency for the buyer. Key Tax Diff

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

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

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,

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

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

Disbursements do not attract GST and are considered Out-of-Scope GST on Disbursements vs. Reimbursements | Bestar GST on Disbursements vs. Reimbursements According to the Inland Revenue Authority of Singapore (IRAS) guidelines on the recovery of expenses: Disbursements represent payments made by your business acting strictly as an agent on behalf of another party. The third-party supplier issues the invoice directly to your principal (the actual recipient of the goods or s

Singapore Fund Administration Services Fund Administrator | Bestar Fund Administrator Singapore serves as a premier hub for global asset management, supported by a robust ecosystem of fund administrators. These service providers play a critical role in managing the operational lifecycle of funds, allowing managers to focus on investment performance and strategy. The Role of Fund Administrators in Singapore Fund administrators in Singapore typically provide a comprehensive s

Declaring Preference Share Dividends Singapore Declaring Dividends to Preference Shares Singapore | Bestar Declaring Dividends to Preference Shares Singapore Declaring dividends to preference shareholders in Singapore is a process governed primarily by the company’s Constitution and the Companies Act 1967. Because preference shares are highly customizable, there is no "one-size-fits-all" rule—you must look to the specific terms set out when the shares were issued. 1. Consul

Fund Administration and Tax Reporting Services Elevating Your Fund’s Potential: Premier Fund Administration Services in Singapore | Bestar Elevating Your Fund’s Potential: Premier Fund Administration Services in Singapore The global regulatory landscape is shifting rapidly. For fund managers, balancing alpha generation with complex operational compliance isn't just a challenge—it’s a high-stakes bottleneck. Managing investor expectations while navigating strict cross-border t

Unaudited Financial Statements | Bestar Unaudited Financial Statements Unaudited financial statements are year-end financial records prepared in compliance with Singapore Financial Reporting Standards (SFRS). Under ACRA regulations, companies that qualify as "Small Companies" or "Solvent Exempt Private Companies" are legally exempt from mandatory external audits and may prepare and file unaudited financial statements instead. Preparation Requirements Even without an external

S'pore to cut time for wealthy folk to open private banking accounts Singapore Private Banking Onboarding Streamlined | Bestar Singapore Private Banking Onboarding Streamlined The Monetary Authority of Singapore (MAS) and the Private Banking Industry Group (PBIG) are aiming to cut the median onboarding time for private banking clients to under one month by the end of 2026. This is a noticeable drop from the previous median wait of six weeks or longer, which had become a maj

Singapore GST Registration For Foreign Companies | Bestar Singapore GST Registration For Foreign Companies Foreign companies supplying goods or services to Singapore generally fall into one of two registration tracks under the Inland Revenue Authority of Singapore (IRAS): the Standard GST Regime or the Overseas Vendor Registration (OVR) Regime. Determining the correct path depends entirely on the company's business model, target audience, and turnover thresholds. 1. The Overs