Singapore companies are registered with loose foreign exchange controls and are home to global banks, making it easy to raise capital. Singapore companies are required to conduct an annual audit of their accounts. But if it is in accordance with the corporate law205Bor205CChapter of the audit exemption clause, then only do financial reports.
Details >In Singapore, not all companies in operation need to do audit. Generally, small and medium-sized enterprises in Singapore do not need audit and only need to provide financial statements. Audit is mainly for high turnover or large holding company scale, meet certain standards, will be required to do audit.
Details >It doesn't matter if you are registered with a Singapore company, a Hong Kong company, a UK company orBVICompanies and so on, the annual audit is a necessary condition for the normal operation of the company. In Singapore, annual audits are only required for private limited companies, while unlimited companies only need to renew them.
Details >After opening bank accounts, Singapore companies can settle international trade, open accounts in overseas banks, and freely transfer funds from overseas accounts, which are not subject to the foreign exchange control of mainland China.
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