FAQ
Frequently Asked Questions
Clear answers about Singapore corporate secretarial, ACRA compliance, tax, accounting and how Stead supports SMEs.
Corporate Secretarial
Corporate Secretary Requirements
Yes. Under the Singapore Companies Act, every company must appoint a corporate secretary within six months of incorporation. The corporate secretary helps maintain statutory records, manage corporate filings and ensure ongoing compliance with ACRA requirements.
A corporate secretary manages your company's statutory registers, annual return filings, shareholder and director changes, board resolutions and other compliance obligations. Their role is to help keep your company compliant and up to date.
In most cases, no. If you are the sole director of the company, you cannot also act as the company secretary. Many businesses appoint a professional corporate secretarial provider to ensure compliance requirements are handled properly.
Yes. Even dormant companies are generally required to maintain a corporate secretary and meet certain statutory obligations unless officially struck off or exempted under specific circumstances.
Yes. Companies can appoint a new corporate secretary and resign the existing one. The change must be properly documented and lodged with ACRA within the required timeline.
ACRA Compliance & Annual Returns
Late filing may result in penalties from ACRA. Repeated non-compliance can lead to higher fines, enforcement actions and difficulties managing future corporate matters.
Singapore companies are generally required to file annual returns once every financial year after holding their Annual General Meeting, if applicable. Filing deadlines depend on the company's circumstances and filing requirements.
Companies must maintain statutory registers, shareholder records, director information, company resolutions and other records required under the Companies Act.
Compliance involves more than filing annual returns. Companies must also maintain accurate records, update changes promptly and meet ongoing statutory obligations. A compliance review can help identify any gaps.
Changes such as directors, shareholders, registered office addresses, company names or share capital must be updated with ACRA within the required deadlines.
Shareholders, Directors & Corporate Changes
Director appointments and resignations must be properly documented and lodged with ACRA. Supporting resolutions and records should also be maintained.
Share transfers require appropriate documentation, board approval where applicable, updates to statutory registers and filing obligations where necessary.
Yes. Companies may change their registered office address, but the update must be filed with ACRA and reflected in company records.
Companies with multiple shareholders often require proper shareholder agreements, accurate shareholding records and careful management of ownership changes to avoid future disputes.
Yes. Corporate secretarial services commonly support share allotments, share transfers, restructuring exercises, changes in ownership and other corporate actions.
Corporate Secretarial Support & Service Providers
Outsourcing provides access to experienced professionals who monitor deadlines, maintain records, prepare filings and help reduce compliance risks without the cost of hiring an in-house team.
A professional review can identify missing filings, incomplete records, outdated registers or compliance gaps. These issues can often be rectified before they become larger problems.
Yes. A good corporate secretarial provider should proactively monitor compliance obligations and provide reminders well before important deadlines.
Yes. Corporate secretarial providers frequently coordinate with accountants, auditors, tax agents and banks to ensure records remain accurate and up to date.
In most cases, switching providers is straightforward. Once the necessary documents are completed, the new corporate secretary can be appointed and take over ongoing compliance management.
Additional Questions
Corporate secretarial fees vary depending on the level of support required, the complexity of your company structure and whether additional corporate actions are needed during the year. At Stead, we provide transparent pricing with no hidden fees, so you know exactly what is included.
A director is responsible for managing and making decisions for the company, while a corporate secretary is responsible for ensuring the company complies with statutory and regulatory requirements. Both roles are important, but they serve different functions within the business.
Yes. Foreigners can own 100% of a Singapore company. However, Singapore companies must have at least one locally resident director and comply with ACRA's ongoing corporate requirements. We can advise on the setup structure and compliance obligations.
You may consider switching if your current provider is unresponsive, fails to provide clear guidance, misses important deadlines or only reacts when problems occur. A proactive corporate secretary should help you stay ahead of compliance requirements, not simply process filings.
Businesses choose Stead because we provide practical support, clear communication and responsive service. Beyond filing requirements, we help business owners understand what needs to be done, avoid common compliance mistakes and stay organised throughout the year.
Still unsure if your company is fully compliant?
Many business owners only discover compliance issues after receiving reminders, penalties or requests from banks, auditors or regulators.
Speak with our team for a quick review of your current setup. We'll help you understand what is required, identify any potential gaps and explain the next steps clearly.
- No obligation consultation
- Practical compliance guidance
- Fast response from our team
- Clear answers in plain English
Tax Services
Corporate Income Tax
Estimated Chargeable Income (ECI) is an estimate of your company's taxable income and generally must be filed within 3 months after your financial year end.
Most Singapore companies must file ECI unless they qualify for IRAS exemptions.
Form C-S is a simplified tax return for qualifying companies, while Form C is used by companies that do not meet Form C-S requirements.
Corporate income tax returns are generally due by 30 November each year if filed electronically.
IRAS may impose penalties, issue estimated assessments or take enforcement action for persistent non-compliance.
GST
GST registration becomes compulsory when taxable turnover exceeds the registration threshold set by IRAS.
Most companies file GST returns quarterly.
Errors may result in penalties, interest charges or requests for clarification from IRAS.
Yes. Some businesses voluntarily register depending on their business model and customer profile.
The answer depends on your industry, customers and input tax recovery position.
Tax Planning
Through proper claim of deductible expenses, available exemptions and tax incentives.
Many businesses miss allowable deductions or fail to optimise available reliefs.
Business expenses incurred wholly and exclusively for income generation are generally deductible.
Yes. Proactive planning before financial year-end often provides the best opportunities.
Yes. Tax planning involves using legitimate reliefs and incentives available under Singapore tax laws.
IRAS Support
Yes. We assist clients in preparing responses and supporting documentation.
We help prepare the required records and explanations.
Yes. We can review past filings and advise on corrective action where necessary.
Yes. Accurate accounting records are essential for proper tax compliance.
Yes. Many SMEs prefer a single provider to ensure records, reporting and tax submissions remain aligned.
Accounting Services
Accounting
Not legally, but accurate accounting helps businesses stay compliant, monitor performance and make informed decisions.
Most SMEs update monthly or quarterly depending on transaction volume and reporting needs.
We support major cloud accounting platforms including Xero and QuickBooks.
Yes. We prepare and submit GST returns while ensuring records are properly maintained.
Yes. Many clients combine accounting and tax services for a more streamlined compliance process.
Contact & Support
Working with Stead
No. Most of our clients work with us remotely through email, phone, WhatsApp and online meetings. If needed, we can also arrange an in-person discussion.
We aim to respond to all enquiries within 1 business day. For urgent matters, you may also contact us by phone.
Yes. We support both newly incorporated companies and existing businesses that require accounting, corporate secretarial, tax or compliance assistance.
Yes. We can help review your current setup and assist with a smooth transition from your existing provider with minimal disruption.
Absolutely. Many clients contact us before they know exactly what support they require. We'll help assess your situation and recommend the most suitable solution.
Yes. Many SMEs prefer a single provider to manage all compliance matters, ensuring records, filings and reporting remain aligned.
Pricing depends on the scope of work and business requirements. We provide transparent quotations with clear explanations of what is included.
If available, it helps to provide information about your company, business activities, current challenges and any specific support you require. If you're unsure, that's perfectly fine. We'll guide you.
We focus on providing affordable, practical and responsive support for Singapore SMEs. Our goal is to simplify compliance so business owners can focus on growth rather than paperwork.