PayNow Corporate Is Finally in Singapore Businesses in Singapore will now be able to instantly receive and make payments with their Unique Entity Numbers (UEN), now that the PayNow Corporate e-payment services have finally been launched. As of 13 August 2018, PayNow Corporate is made available to all businesses, government agencies and corporate bodies whom…
Advantages of Setup of a Singapore Holding Companies for USA and Other Ventures When it comes to outbound investments, there is no other place in the world like Singapore. It is by far the most preferred jurisdiction for investors who are keen to set up a holding company in Singapore or companies in Singapore. …
Foreigners in Singapore Can Now Use CorpPass Through the CorpPass 2FA Application Here is good news for foreigners currently residing in Singapore. Even if you don’t have a SingPass, you will now be able to access and use CorpPass through the CorpPass 2FA mobile application. Owned by the Ministry of Finance and managed by the…
Rule Changes Make It Easier for Singapore SMEs to Bid on Public Projects Small business in Singapore may soon be able to start bidding for government projects with the new changes to the rules in place which make it much easier for small and medium enterprises (SMEs) to get in on the bidding game. SMEs…
All Singapore Business Will Be Required to Have CorpPass from 1 September 2018 Dear Valued Clients, Greetings from the team at 3E Accounting! Beginning 1 September 2018, it will now be mandatory for all business in Singapore to transact online using a CorpPass Account. The Singapore government announced last year that CorpPass will be the only acceptable…
Dear Valued Clients, Welcome to our E-Newsletter August 2018 Another month passed and we are in the third quarter of 2018. Let me walk you through of Singaporean economy as influenced by continuous challenges and global trade tensions. A Quick Look at Singaporean Economy Performance in Second Quarter Singaporean economy recorded a 3.8% growth…
Raising Concerns: Employers in Singapore Mis-Labeling their Staff to Avoid OT Payments Employers in Singapore apparently escaped paying their employees entitlements like OT payments after they allegedly classified them as managers or executives. According to the Ministry of Manpower, there were about 50 such cases last year. Among them, 90 percent of victims had the…
GigaCover Brings the First Insurance Protection for Freelancers in Singapore Here is good news for those into freelancing. Insurance protection for freelancers has been introduced in Singapore. To help freelancers mitigate the loss of income during a period of prolonged illness, GigaCover brought the first standalone freelancer insurance product in June. With this new scheme,…
Singapore Foreign Reserves Gain at $8.5Billion The Monetary Authority of Singapore (MAS) recently announced in it’s annual report that the official foreign reserves (OFR) gained $8.5 bilion for the FY2017/18. According to the MAS, strengthening of the Singapore dollar against the US dollar provided a translated negative effect of $13.8 billion while investment gains contributed…
Customers Can PayNow at 3E Accounting On 14 August 2018, 3E Accounting implemented PayNow, a peer-to-peer funds transfer that allows faster and secured online transaction. 3E Accounting’s customers can perform transaction to 3E Accounting instantaneously with our Unique Entity Number (UEN) issued in Singapore. Similar to how PayNow works, customers do not need to know…
All Singapore Business Will Be Required to Have CorpPass from 1 September 2018 Beginning 1 September 2018, it will now be mandatory for all business in Singapore to transact online using a CorpPass Account. The Singapore government announced last year that CorpPass will be the only acceptable login method for businesses who wish to continue…
Changes In Statutory Requirements for AGM and Filing of Annual Return with ACRA – Effect on 31 August 2018 Recently, the Accounting and Corporate Regulatory Authority (“ACRA”) of Singapore has announced new changes regarding the statutory requirements of Annual General Meetings (“AGM”) and filing of Annual Returns (“AR”) that will take effect on 31 August…
