AGM Preparation and Filing Singapore
The AGM is an important part of Singapore’s company compliance as it allows shareholders to interact with the directors and ask questions about their company’s financial health. Hence, it is essential to present accurate financial statements, prepared following SFRS standards, convene the AGM meeting within the required timeframes, and file an annual return with ACRA’s Bizfile+ system promptly. Even dormant companies that do not have any accounting transactions for the year must still hold an AGM, prepare and send out a statement of accounts to its shareholders, file their annual return, and update business particulars, officers, and company secretary information on Bizfile+.
Expert Guidance for AGM Preparation and Filing in Singapore
In the case of non-compliance, the company and its directors may be subjected to penalties or disqualification from directorship. However, it is always possible to apply for an extension of time with ACRA if you are unable to meet the stipulated deadlines.
AGM preparation and filing Singapore is a complex process as there are many statutory requirements to adhere to, including ensuring the AGM is held in line with the statutes of the Companies Act. Consequently, it is important to seek professional advice to ensure that your AGM meets all the requirements. Specifically, the AGM must be held within 18 months of your company’s incorporation date, and subsequent AGMs should be held annually at intervals of not more than 15 months. Furthermore, a minimum number of members must attend the AGM to form a quorum, and the AGM minutes must be signed by the Chairman and filed on Bizfile+.…