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For entrepreneurs and business owners in Singapore, understanding the intricacies of the Work Permit Quota system is paramount. This guide aims to unravel the complexities surrounding foreign worker quotas, eligibility criteria, and the advantages of fostering a diverse workforce. Let’s delve into the core principles that underpin small business operations in Singapore’s dynamic economic landscape.  Deciphering Singapore’s Work Permit Quota At the heart of Singapore’s labor policies lies the Work Permit Quota, a mechanism devised to maintain equilibrium in the workforce by balancing local and foreign talent. Spearheaded by the Ministry of Manpower (MOM), this quota system delineates the permissible...

Are you an ambitious entrepreneur, eyeing the vast potential of the Asian market, yet finding yourself at a crossroads, unsure of which path to take? If so, Hong Kong might be the perfect solution.  Ranked 5th out of 63 by The International Institute for Management Development (IMD) World Competitive Yearbook 2022, Hong Kong stands tall as a global business powerhouse. Due to its advantageous geographic position, robust economic development, and business-friendly policies, it comes as no surprise that many entrepreneurs opt to establish their startup operations in Hong Kong to broaden their global reach into the Asian market. Besides its...

Singapour est le principal hub financier et économique de l’Asie du Sud Est. Une grande majorité des entreprises internationales implantées dans la région en ont fait leur siège régional. De même de nombreux entrepreneurs étrangers, des startups et des PME s’y développent.   Singapour est un pays dont la stabilité économique et politique ainsi que le droit des affaires sont parmi les plus favorables aux entreprises.   Singapour est aussi l’une des destinations les plus attrayantes pour les entreprises et les investisseurs, grâce à son taux d’imposition des sociétés faible et compétitif, à son vaste réseau de conventions fiscales et à ses diverses...

In Singapore, share certificates are legal documents attesting to the ownership of a specific number of shares in a company issued to a shareholder.  For private limited companies, it is delivered in a paper format whereas public listed companies issue an electronic version. There are many situations in which share certificates are delivered. Among them, it is an important step during the incorporation of a new company or when a shareholder is investing in an existing company. In this article, we aim to provide clarification on various aspects related to share certificates, which include:  Share certificates in private limited company   A...

Through a new Decree, Vietnam authorities has implemented additional requirements for the employment of a foreign worker such as job posting for local candidates for instance.

AI requires training through Personal Data. Singapore's PDPC has proposed some guidelines to facilitate while securing the use of Data in AI. The guidelines explicitely states roles and responsibilities of the companies and organisations wishing to use personal data for AI purposes.

In this article, we will cover: Singapore has recently amended its Income Tax act by introducing the new Section 10L on gains from Sale of foreign assets effective from January 1, 2024. The purpose of this new section is to bring Singapore’s tax regime in line with international anti-tax avoidance norms and to encourage substantial economic activities to be anchored in Singapore.  Indeed, this section subjects gains or losses arising from the sale or disposal of any movable or immovable property situated outside Singapore, referred to as a “foreign asset,” to taxation in Singapore.  Prior 2024, gains from the sale...

In the rapidly evolving landscape of e-commerce, navigating tax regulations is paramount for businesses striving for success in Singapore’s burgeoning digital economy. As the Asia-Pacific region continues to witness exponential growth in online transactions, understanding the intricacies of Singapore’s e-commerce tax landscape is essential for businesses to remain compliant and competitive. In this comprehensive analysis, MBiA delves into the complexities of Singapore’s e-commerce tax regulations, providing businesses with invaluable insights to navigate the regulatory landscape effectively. Introduction: The Rise of E-commerce in Singapore With the proliferation of digital platforms and the increasing adoption of online shopping, Singapore has emerged as...

In the bustling economic landscape of Singapore, where businesses thrive amidst fierce competition, understanding the intricacies of an income statement is paramount. As a vital financial tool, the income statement offers a window into a company’s financial performance, shedding light on revenue generation, cost structures, and profitability metrics. At MBiA, we unravel the complexities of Singapore’s income statement, offering businesses a comprehensive guide tailored to their needs in the dynamic Singaporean market. Our expert analysis combines industry knowledge with cutting-edge data analytics, providing actionable insights that drive strategic decision-making and foster sustainable growth. In this article, we will cover: Key...

Amidst the global economic challenges and the ongoing impact of the pandemic, Hong Kong’s Financial Secretary, Paul Chan, has rolled out the Hong Kong Budget 2024-25 on 28 February under the theme ‘Advance with confidence. Seize opportunities. Strive for high-quality development’. The budget introduces measures aimed at boosting economic recovery, driving sector-specific growth, and providing support for small and medium enterprises (SMEs). These measures will be crucial for maintaining Hong Kong’s competitiveness in the medium to long term and ensuring sustainable growth for the city. In this article, we will provide a simplified summary to help you understand how these measures...

In a rapidly evolving digital landscape, the challenges of safeguarding personal data are ever-present and demand a robust response.  In acknowledgment of these mounting pressures, we have forged a strategic partnership with ResGuard Solutions, an esteemed industry leader renowned for its expertise in data protection and cybersecurity. Together, we aim to alleviate the burdensome complexities of achieving PDPA compliance, offering SMEs a comprehensive solution to navigate this regulatory landscape with confidence and ease.  In this article, we will cover: What is the Personal Data Protection Act (PDPA) in Singapore?  The Personal Data Protection Act (PDPA) of Singapore serves as a...

This articles why and how important is the company secretary role for Hong Kong registered companies. The company secretary is compulsory for all registered companies in Hong Kong.

The New Tourist Visa policies for Vietnam allow for applications of e-visas and extension of validity. Some foreigners benefit from 45 days visa requirement exemption too.

  Every entrepreneur across the globe has big aspirations. The aspiration to one day expand and thrive beyond the borders. In the ever-evolving global business landscape, expansion is without a doubt synonymous with growth and progress. As companies and businesses seek to broaden their horizons and tap into new markets, the Asia-Pacific (APAC) region has emerged as a beacon of opportunity. With its dynamic economies, diverse cultures, and vast consumer bases, APAC has become an attractive destination for businesses looking to extend their reach beyond familiar borders. That said, the journey into APAC’s promising territories requires careful consideration and strategic...

Running a business requires finding suitable clients, partners and suppliers. Learn how to expand your Business Network through Events!

The Double Taxation Agreements are signed to avoid the taxation of individual and companies who conduct international trades and business. Learn more about DTAs in this article.