Outsourcing
An outsourcing partner that helps you play to your strengths.
You will find insights on various topics by our Mazars Outsourcing professionals. For more information, please contact Chris Fuggle, our Head of Outsourcing.
COVID-19: Singapore stops accepting new entry applications for work pass holders from higher-risk countries
The Ministry of Manpower (MOM) will be making changes to the entry of work pass holders who have earlier obtained approvals to arrive from higher risk countries/regions from Tuesday 11 May 2021 onwards. As of 7 May 2021, high risk countries/regions refer to all countries/regions except Australia, Brunei Darussalam, Mainland China, New Zealand, Taiwan, Hong Kong and Macao.
What you need to know about Intra-Corporate Transferees (ICT)
Intra-corporate transferees (ICT) are employment pass (EP) holders, and must have worked for their company for at least one year before being posted to the branch, affiliate or subsidiary in Singapore.
Revised ACRA Penalty Framework For Annual Lodgements
With effect from 30 April 2021, ACRA will implement a 2-tier penalty framework for filing of annual return and annual declaration for all companies (including VCC) and limited liability partnerships (“LLPs”) as below:
The Launch of Tech.Pass in Singapore to Attract Highly Skilled Technology Professionals
The Economic Development Board (EDB) has announced that a new work pass called Tech.Pass will be launched next year. The target is top-tier foreign tech professionals and experts looking to start businesses, lead corporate teams or teach here. EDB is seeking to attract highly skilled technology professionals in fields such as e-commerce, artificial intelligence and cyber security.
Tightening of Work Pass Requirements by the Ministry of Manpower (MOM)
The minimum qualifying salary will be raised to S$4,500 and S$2,500 for EP and S Pass Holders respectively.
Checklist for the Conduct of General Meetings During Circuit Breaker
On 13 April 2020, the COVID-19 (Temporary Measures) (Alternative Arrangements for Meetings for Companies, Variable Capital Companies, Business Trusts, Unit Trusts and Debenture Holders) Order 2020 (the “Order”) was issued. The Order prescribes the alternative arrangements for the conduct of general meetings. The alternative arrangements apply to meetings convened, held, conducted or deferred during the Control Period defined under the Infectious Diseases (Measures to Prevent Spread of COVID-19) Regulations 2020. A transitional arrangement is also provided for any meeting convened, held, conducted or deferred during a period of 30 days after the end of the Control Period, where the notice of the meeting was given during the Control Period.
MOM Introduces Additional Measures to Help Companies Cope With Covid-19
As the Covid-19 situation continues to evolve, the Ministry of Manpower (MOM) has announced further measures to help affected businesses cope during this period.
Applicable to all Singapore companies and LLPs - new filing requirements for Register of Controllers
As part of ongoing efforts to uphold Singapore’s reputation as a trusted financial hub, and in line with international practices, the Accounting and Corporate Regulatory Authority (ACRA) will be implementing a new filing requirement from May 2020.
Companies employing staff in Singapore must notify MOM of any cost saving measures
With effect from 12 March 2020, employers must notify the Ministry of Manpower (MOM) if they implement any cost-saving measures that will impact employees’ salaries. This new policy is in place to ensure companies manage excess manpower responsibly.