06 July 2024
Editor: ET
Understanding the various fees associated with company-related transactions is crucial for businesses operating in Singapore. From incorporation to annual filing, each transaction incurs specific charges that companies need to account for.
This article provides a detailed overview of the fees applicable for different company transactions, offering insight into the costs associated with maintaining compliance and operational efficiency.
List of Company-Related Fees
1. Name Application
Fee: $15
Description: This fee applies when submitting an application to reserve a company name.
2. Registration Fee
Fee: $300
Description: This is the fee for registering a new company in Singapore.
3. Annual Filing
Fee: $60
Description: Companies must pay this fee when filing their annual returns.
4. Conversion within Company Types
Fee: $40
Description: This fee applies when a company changes its type (e.g., from a private limited company to a public company).
5. Lodgment of Notice of Error (NOE)
Fee: $60
Description: Companies need to pay this fee to correct errors in previously filed documents.
6. Registration of Particulars Relating to Charges
Fee: $60
Description: This fee is for registering particulars related to company charges.
7. Registration for Amalgamation
Fee: $400
Description: This fee applies to the registration of an amalgamation. A separate company registration fee of $300 is applicable if the amalgamated entity is a new company.
8. Application for Extension of Time (EOT)
Fee: $200
Description: Companies may apply for an extension of time to file accounts or hold the Annual General Meeting (AGM).
9. Other Applications
Fee: $200
Description: This fee covers various other applications, including:
Exemptions from Singapore Financial Reporting Standards requirements
Waiver for the annual filing of forms and documents for foreign company operations
Relief from requirements for the form and content of accounts and reports
License to hold land under Section 23(2)
Omission of the word "Limited" or "Berhad"
Direction from the Registrar to change the company name
Importance of Understanding Company-Related Fees
Staying informed about the costs associated with company-related transactions helps businesses:
Budget Accurately: Knowing the fees in advance allows companies to budget more effectively.
Ensure Compliance: Timely payment of these fees ensures compliance with regulatory requirements, avoiding potential penalties.
Plan Strategically: Understanding these costs helps in strategic planning, especially for expansions, mergers, and other significant business decisions.
Further Reading: Penalties for Not Holding an AGM in Singapore
Navigating the various fees associated with company-related transactions in Singapore is essential for maintaining compliance and financial health. By understanding these costs, businesses can better manage their financial planning and avoid unexpected expenses.
For expert guidance on company transactions and compliance, consult the professionals at Expede.com.sg.
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