🇸🇬 Annual Compliance — Singapore

Incorporating without a locally resident director

Fix: Appoint a Singapore citizen, permanent resident, or valid pass holder as a director before filing. If none of your founders qualify, engage a reputable nominee director service — but ensure the nominee agreement clearly limits their authority.

Failing to appoint a company secretary within six months

Fix: ACRA requires every Pte Ltd to appoint a qualified company secretary within six months of incorporation. Set a reminder and engage a corporate secretarial service early. Failure to comply can result in fines and prosecution of directors.

Not registering for GST when turnover exceeds the threshold

Fix: GST registration is mandatory once your annual taxable turnover exceeds SGD 1 million or is expected to exceed that amount. Monitor your revenue closely and register proactively — late registration can result in penalties and backdated GST liabilities.

Treating the startup tax exemption as automatic without filing

Fix: The partial tax exemption for new startups must be claimed through the annual tax return (Form C-S or Form C) filed with IRAS. Engage a qualified accountant to prepare and file your returns correctly. The exemption applies for the first three consecutive years of assessment and has specific qualifying conditions.