Business carried on by local managers
25.—(1) In any case in which any individual, or all the partners of any firm, or all the directors, the managers and the secretary of any corporation required under this Act to be registered reside outside Singapore, and the business of the individual, firm or corporation is carried on in Singapore in the name of the individual, firm or corporation by a local manager, the local manager shall be personally responsible for the discharge of all obligations attaching to the individual, firm or corporation under this Act.
[5/2005 wef 11/04/2005]
(2) In the case of any default in respect of any such obligation referred to in subsection (1), the local manager shall be subject to the same responsibilities, liabilities and penalties as the individual in whose name he carries on the business, or as a partner in the firm, or as a director, manager or secretary of the corporation, as the case may be, and all the penal and other provisions of this Act shall be construed accordingly.
Well... a Pte Ltd definitely has more "gravitas" in getting bank accounts opened and that sort of thing. It might also be easier to hire a nominee director as opposed to a local manager... but I don't have any hard data on that. OTOH, a pte ltd costs more to set up, and will cost more to report it annually than a SP.jefletworld wrote:Thanks a lot for the information!
So maybe it's better to set up a Pte Ltd Company?
but her Facebook post still appears herepriscillawzy wrote:Use a job board instead of this forum.
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Ahh... the joys of using DoNotTrackMe... I don't see any of that nonsense.ecureilx wrote:but her Facebook post still appears herepriscillawzy wrote:Use a job board instead of this forum.
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PNGMK wrote:I'll do it (SPR here) but only if I have complete control of the local bank accounts and signing authority for tax returns, business registration etc. All invoicing will have to done via myself and no funds will be remitted to you unless we have enough on hand for all liabilities due (tax, cpf, bills).
You'll be subordinate to me in the structure but you'll have the 'golden share' (>51%). I'll be the Company MD and you'll be a Company ED.
We can do a PTE LTD only.
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