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intracorp-blog · 2 years

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What are a Business Structure's Benefits and Drawbacks?

Business structure refers to the legal and organizational framework through which a business operates. Choosing the right business structure is a crucial decision for any entrepreneur or a business owner. Each type of business structure has its own benefits and drawbacks, which should be carefully considered before deciding. Here are some of the main benefits and drawbacks of different business structures:

Sole Proprietorship Benefits:

Easy and inexpensive to set up

Full control and decision-making power

No separate business tax return needed

Drawbacks:

Personal liability for commercial debts and legal actions is limitless

Difficulty in raising capital or obtaining loans

Limited growth potential

Partnership Benefits:

Easy and inexpensive to set up

Shared control and decision-making power

Increased ability to raise capital

Drawbacks:

Absolute personal responsibility for business debts and legal actions

Disputes between partners can arise

Partners are responsible for each other's behaviour.

Limited Liability Company (LLC) Benefits:

Limited personal liability for business debts and lawsuits

Flexible management structure

Pass-through taxation

Drawbacks:

More startup costs than a partnership or sole proprietorship

Members must follow specific legal formalities to maintain limited liability status

Limited growth potential due to restrictions on raising capital

Corporation Benefits:

Limited personal liability for business debts and lawsuits

Ability to raise large amounts of capital through stock offerings

Potential for long-term growth and expansion

Drawbacks:

Greater setup and ongoing costs compared to other business formats

Double taxation on profits (once at the corporate level and again at the individual level)

More complex management structure and legal formalities to follow

Cooperative Benefits:

Shared ownership and decision-making power

Limited personal liability for members

Ability to pool resources and negotiate better prices for goods and services

Drawbacks:

More challenging to establish compared to other business formats

Members must follow specific legal formalities to maintain limited liability status

Limited growth potential due to restrictions on raising capital

Ultimately, it's important to carefully consider your business goals, needs, and resources when choosing a business structure. Consulting with a legal and financial professional can also be helpful in making the best decision for your business. You can also check our blog on How to Register a Private Limited Company in Singapore to get a better guide.

#How to Register a Private Limited Company in Singapore

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sbsconsulting · 7 hours

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Singapore has earned its reputation as one of the best countries in the world for business, thanks to its robust economy, favorable tax policies, and strategic location in Asia. Entrepreneurs from all over the globe are drawn to this business-friendly environment. If you're planning to register a company in Singapore, there are several important steps to follow. This guide will take you through the entire process, ensuring you understand every detail to get your business up and running smoothly.

SBS Consulting provides incorporation services to Singapore-based companies. Additionally, we also offer secretarial, bookkeeping, accounting, taxation, GST, XBRL, and payroll services.

Why Register a Company in Singapore?

There are many reasons why entrepreneurs choose to register a company in Singapore. One of the biggest advantages is the low corporate tax rate, which stands at just 17%, with even lower rates for startups. Additionally, Singapore offers various tax incentives and grants that can help new businesses reduce costs. Its efficient legal system, political stability, and access to a talented workforce make Singapore an ideal place for business expansion.

Furthermore, when you register a company in Singapore, you benefit from its extensive network of Free Trade Agreements (FTAs) and the country's reputation as a top financial hub. This provides businesses access to international markets and opportunities for growth.

Types of Business Entities in Singapore

Before you register a company in Singapore, it’s essential to choose the right type of business entity that suits your needs. The most common types include:

Private Limited Company (Pte Ltd): This is the most popular business entity for foreign and local entrepreneurs. It offers limited liability and is considered a separate legal entity from its owners.

Sole Proprietorship: This is suitable for single entrepreneurs but doesn’t provide the same legal protection as a private limited company.

Partnership: This business entity is for two or more individuals or entities working together, but it offers less protection compared to a private limited company.

Most entrepreneurs prefer the Private Limited Company due to the tax benefits, flexibility, and limited liability it offers.

How to Register a Company in Singapore

The process to register a company in Singapore is straightforward, but it involves several steps that must be followed carefully:

Choose a Company Name: The first step is to choose and reserve a company name. Your company name must be unique and not infringe on any trademarks. The name should also comply with Singapore’s naming guidelines and be approved by the Accounting and Corporate Regulatory Authority (ACRA).

Appoint Directors and Shareholders: A company in Singapore must have at least one director who is a Singaporean citizen, Permanent Resident, or holder of an Employment Pass. You can appoint foreign or local directors, but at least one must be a resident director. Additionally, you must have at least one shareholder, but a company can have up to 50 shareholders.

File Necessary Documents: To register a company in Singapore, you will need to file several important documents with ACRA, including:

Company Constitution (formerly known as Articles of Association)

Director and shareholder identification documents

Registered address of the company

Description of the business activities based on the Singapore Standard Industrial Classification (SSIC) code.

Pay the Registration Fee: When you register a company in Singapore, there is a small registration fee to be paid to ACRA. The standard fee for incorporating a company is approximately SGD 300.

Receive Certificate of Incorporation: Once your application is approved, ACRA will issue an official Certificate of Incorporation, which confirms that your business is now legally registered in Singapore.

Open a Corporate Bank Account: After incorporation, the next step is to open a corporate bank account in Singapore. Most local and international banks offer a wide range of corporate banking services that cater to different business needs.

Comply with Ongoing Requirements: After you register a company in Singapore, it's important to stay compliant with local regulations. This includes filing annual returns with ACRA, holding an Annual General Meeting (AGM), and filing corporate taxes.

Additional Support for Entrepreneurs

The Singapore government actively encourages entrepreneurship and offers various schemes and grants to support new businesses. When you register a company in Singapore, you may be eligible for startup tax exemptions and government funding through initiatives like the Startup SG scheme. These incentives can significantly reduce the cost of starting and operating a business in Singapore.

Conclusion

In summary, to register a company in Singapore is a relatively simple and efficient process, provided you follow the necessary steps. With its pro-business environment, favorable tax policies, and strategic location, Singapore remains one of the best places in the world to establish a company. Whether you are a local entrepreneur or a foreign investor, registering a company in Singapore opens the door to a world of business opportunities and success.

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dvtraining · 16 days

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Levy Conversion Course at DV Training Services Pte Ltd

Introduction

In today’s fast-paced business environment, organizations must adapt to changes in workforce regulations and practices. One such change is the Levy Conversion Course, designed to support companies in converting their foreign workforce to meet local labor regulations. At DV Training Services Pte Ltd, we are committed to equipping businesses with the knowledge and skills necessary for a smooth transition.

What is the Levy Conversion Course?

The Levy Conversion Course is tailored to help employers understand the latest regulatory requirements surrounding the employment of foreign workers in Singapore. With the evolving landscape of labor laws, this course provides essential insights into converting work passes and ensuring compliance with the Ministry of Manpower (MOM) guidelines.

Course Objectives

Participants in the Levy Conversion Course will:

Understand Regulatory Changes: Gain comprehensive knowledge of the current regulations regarding foreign worker levies.

Navigate Compliance: Learn how to navigate compliance requirements effectively to avoid penalties.

Conversion Processes: Master the processes involved in converting existing work permits and passes to meet the new requirements.

Best Practices: Discover best practices for managing a diverse workforce while adhering to local laws.

Why Choose DV Training Services Pte Ltd?

Expert Instructors

Our instructors are industry experts with years of experience in workforce management and compliance. They bring real-world insights to the classroom, ensuring that participants gain practical knowledge.

Interactive Learning

We believe in an interactive learning approach. Our courses incorporate group discussions, case studies, and hands-on activities to facilitate deeper understanding and retention of information.

Tailored Solutions

At DV Training Services, we understand that each organization has unique needs. We offer tailored training solutions to address specific challenges faced by businesses in your sector.

Flexible Scheduling

We offer flexible course schedules to accommodate the busy lives of our participants. Whether you prefer weekday or weekend classes, we have options that fit your timetable.

Who Should Attend?

The Levy Conversion Course is ideal for:

HR professionals and managers

Compliance officers

Business owners and leaders

Anyone involved in workforce management and planning

Course Details

Duration: [Insert duration]

Mode of Delivery: [In-person/Online/Hybrid]

Certification: Participants will receive a certificate upon successful completion of the course.

Conclusion

Staying compliant with local labor regulations is crucial for any business operating in Singapore. The Levy Conversion Course at DV Training Services Pte Ltd is designed to equip you with the necessary tools and knowledge to navigate these changes confidently.

Don’t let regulatory changes catch you off guard. Enroll in our Levy Conversion Course today and take the first step towards a compliant and efficient workforce!

For more information or to register for the course, please visit our website or contact us directly. Let’s work together to ensure your business thrives in a compliant environment.

#Levy Conversion Course

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bestlicensedmoneylender · 17 days

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Quick Cash Solutions: Finding the Right Money Lender in Singapore

Navigating financial demands in Singapore might be difficult, but you can get past short-term cash flow issues with the assistance of a trustworthy money lender Singapore. Knowing your alternatives is important whether you're planning a big buy or dealing with unforeseen bills. What you should know to locate a reliable lender is provided below.

Why Choose a Licensed Moneylender in Singapore?

Choosing a licensed moneylender Singapore when in need of financial assistance guarantees that you are working with a reputable and regulated service. The following are the main advantages of using authorized lenders:

Regulatory Compliance: The Ministry of Law in Singapore oversees licensed moneylenders and makes sure they follow ethical lending guidelines.

Transparent Terms:You'll be able to make educated judgments by having clear knowledge regarding interest rates, repayment plans, and any associated costs.

Quick Approval Process: For those in need of money right away, the majority of regulated moneylenders provide quick loan approvals, frequently in less than a day.

Flexible Loan Options: They offer a range of loan solutions that are customized to your unique financial circumstances, such as company loans, payday loans, and personal loans.

Protection Against Scams: Selecting a licensed supplier lowers your chance of being a victim of fraudulent loans or loan sharks.

How to Choose the Right Money Lender

Check Licensing: Make sure the lender is registered with the Ministry of Law at all times.

Read Reviews: To determine the repute of the lender, look for online reviews and client feedback.

Compare Rates: Shop around to get the best offer as different money lenders have different conditions and interest rates.

Understand the Terms: Make sure you comprehend the terms and conditions around repayment in full before signing any agreements.

Seek Recommendations: Find reputable lenders that friends and family have already utilized by asking them for recommendations.

ConclusionIf you take the time to investigate and make informed decisions, finding a licensed moneylender Singapore can be a simple procedure. You can get the financial assistance you need and be sure you're protected by Singapore's lending rules by choosing a licensed moneylender. Investigate your alternatives right now and don't allow money concerns hold you back!

#licensed moneylender singapore #money lender singapore #licensed moneylender #legal money lender

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blaze-papers · 22 days

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Bajaj Housing Finance IPO Allotment Finalized: How to Check Your Status and Insights on GMP

The share allotment for the Bajaj Housing Finance IPO has been concluded, with successful applicants starting to receive bank debit notifications. Investors who were not allocated shares will soon have their funds returned. The shares are scheduled to be listed on Monday, September 16, and the latest Grey Market Premium (GMP) suggests a potential return of up to 112% on listing day.

The IPO, which was open for public subscription from September 9 to September 11, saw a remarkable oversubscription rate of 67.43 times. The offer attracted bids for 46,25,57,71,082 shares, significantly surpassing the 68,60,00,009 shares on offer. The price band for the offering was set between Rs 66 and Rs 70 per share.

How to Check Your IPO Allotment Status:

Visit the official BSE website: BSE IPO Status.

Select ‘Equity’ under ‘Issue Type’.

Choose ‘Bajaj Housing Finance Ltd’ from the ‘Issue Name’ dropdown menu.

Enter your application number or PAN.

Complete the CAPTCHA verification and click ‘Search’.

Alternatively, check the allotment status directly on Kfin Technologies' portal: Kfin Technologies IPO Status.

Bajaj Housing Finance IPO: GMP Today

As of today, unlisted shares of Bajaj Housing Finance Ltd are trading at a Rs 78 premium in the grey market, indicating an expected listing gain of approximately 111.43% from the issue price. The GMP reflects market sentiment and may fluctuate.

IPO Details

The IPO comprises a fresh issue of equity shares worth up to Rs 3,560 crore and an offer-for-sale (OFS) of up to Rs 3,000 crore by its parent company, Bajaj Finance. This IPO is part of Bajaj Housing Finance's compliance with Reserve Bank of India's (RBI) regulations, which mandate upper-layer non-banking finance companies (NBFCs) to be listed by September 2025.

Before the public offering, the company secured Rs 1,758 crore from anchor investors, including the Government of Singapore, Abu Dhabi Investment Authority, Fidelity, Morgan Stanley, and several major mutual funds and financial institutions. The funds raised through the fresh issue will enhance the company’s capital base to support future growth.

Registered with the National Housing Bank since September 2015, Bajaj Housing Finance is a non-deposit-taking housing finance company offering financial solutions for residential and commercial property purchases, renovations, and more. It has been classified as an “upper-layer” NBFC by the RBI.

For the financial year 2023-24, Bajaj Housing Finance reported a net profit of Rs 1,731 crore, marking a 38% increase from Rs 1,258 crore in FY23.

Recent months have seen successful listings of other housing finance companies like Aadhar Housing Finance and India Shelter Finance. Bajaj Housing Finance filed for a Rs 7,000 crore IPO in June, which received approval from the market regulator earlier this month. Kotak Mahindra Capital Company Ltd, BofA Securities India Ltd, SBI Capital Markets Ltd, Goldman Sachs (India) Securities Private Ltd, and JM Financial Ltd are the book-running lead managers for this IPO.

#BajajHousingFinanceIPO #IPOAllotment #StockMarket #BajajFinance

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royal-premier-pac · 1 month

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Comprehensive Guide to Choosing the Right Audit Firm in Singapore

In today's dynamic business environment, auditing plays a pivotal role in maintaining financial transparency, accuracy, and regulatory compliance. Companies in Singapore, a leading global financial hub, are required to adhere to strict financial standards. Hence, choosing the right audit firm is crucial for the long-term success of any business. This blog will explore the importance of auditing, what to look for in an audit firm, and how audit firms in Singapore, such as Royal Premier PAC, ensure that companies meet all their regulatory obligations.

Importance of Auditing in Singapore

Auditing ensures that a company's financial statements are fair, accurate, and compliant with the regulatory framework. Here’s why auditing is indispensable:

1. Financial Transparency

Audits help verify the accuracy of financial reports, providing stakeholders with confidence in the company’s financial health. Investors, lenders, and shareholders rely on audited financial statements to make informed decisions.

2. Regulatory Compliance

Singapore has stringent laws regarding corporate governance and financial reporting. The Companies Act mandates that companies meet specific auditing requirements based on their size and structure. Regular audits ensure adherence to these regulations, helping businesses avoid legal penalties.

3. Fraud Prevention

An external audit is an essential mechanism to detect and prevent financial mismanagement and fraud. By identifying discrepancies, audit firms help businesses protect their assets and maintain credibility.

4. Tax Reporting

A thorough audit ensures that businesses comply with tax regulations, reducing the risk of inaccurate tax reporting or underpayment. This also helps identify any potential tax-saving opportunities.

Types of Audits Conducted by Firms in Singapore

There are different types of audits that a company might require, depending on its industry and size. Here are the most common ones:

1. Statutory Audits

A statutory audit is legally required for most companies registered in Singapore. This audit involves examining financial statements to ensure they provide a fair and accurate view of the company’s financial standing. Small exempt private companies (EPCs) may be exempt from statutory audits if their annual revenue is below SGD 5 million.

2. Internal Audits

Internal audits focus on a company’s internal controls and governance procedures. These audits are often commissioned by management to assess the company’s operations, risk management processes, and compliance with internal policies. The goal is to improve operational efficiency and reduce risks.

3. Tax Audits

Tax audits help businesses ensure their tax returns are accurate and comply with the Inland Revenue Authority of Singapore (IRAS) regulations. It identifies potential areas where companies can improve their tax strategy and avoid penalties for incorrect filings.

4. Forensic Audits

Forensic audits are conducted when there’s suspicion of fraud or financial misconduct. This type of audit requires specialized skills to investigate financial irregularities and support legal proceedings if necessary.

5. Compliance Audits

Compliance audits assess whether a company is adhering to regulatory standards in areas such as labor laws, environmental regulations, and industry-specific guidelines. This is essential for companies in highly regulated sectors such as finance, healthcare, and manufacturing.

Key Factors to Consider When Choosing an Audit Firm in Singapore

Selecting the right audit firm can be a complex decision. Here are essential factors to consider:

1. Reputation and Experience

The audit firm’s reputation in the market is crucial. Look for firms with a proven track record and strong experience in your industry. Well-established firms, such as Royal Premier PAC, offer expertise across various sectors and can handle complex auditing needs efficiently.

2. Qualification and Licensing

Ensure the audit firm is licensed and registered with the Accounting and Corporate Regulatory Authority (ACRA) in Singapore. ACRA monitors auditors' performance and ensures they comply with professional standards. Only licensed firms are authorized to conduct statutory audits.

3. Industry Specialization

Every industry has unique auditing requirements. Choosing an audit firm with experience in your specific sector ensures they understand the nuances of your business. For instance, companies in the tech, manufacturing, or financial sectors will benefit from audit firms that specialize in those industries.

4. Range of Services

A comprehensive audit firm should offer more than just statutory audits. Look for firms that provide internal audits, tax audits, forensic audits, and risk management services. This allows you to work with a single firm for all your auditing needs, ensuring consistency and efficiency.

5. Use of Technology

Modern auditing requires the use of advanced technology and tools to analyze large data sets efficiently. Audit firms that invest in data analytics, automation, and cloud-based solutions provide faster, more accurate results. Technology also helps in detecting potential fraud or risks earlier in the audit process.

6. Fee Structure

Cost is always a consideration, but it’s essential not to compromise quality for price. While some audit firms may offer lower fees, they may not provide the level of detail and expertise your company needs. It’s crucial to find a firm that balances cost with quality services.

7. Communication and Client Service

Effective communication is key to a successful audit. The audit firm should maintain transparency and keep you informed throughout the process. They should be accessible, approachable, and able to explain complex financial concepts clearly. High-quality client service ensures that your concerns and questions are addressed promptly.

8. Global Reach

If your company operates internationally, you may need an audit firm with a global network. Firms with international affiliations can offer advice on cross-border regulations and ensure your business complies with foreign financial laws.

Why Businesses in Singapore Choose Royal Premier PAC

Royal Premier PAC is one of the leading audit firms in Singapore, trusted by businesses across industries. Here’s why they are a top choice for auditing services:

1. Extensive Experience

Royal Premier PAC has years of experience working with businesses of all sizes, from small startups to large multinational corporations. Their auditors are skilled in providing accurate and detailed audits, ensuring financial transparency.

2. Industry Expertise

Royal Premier PAC specializes in various industries, including finance, healthcare, retail, and technology. This means they understand the specific challenges and regulations relevant to your business.

3. Comprehensive Services

In addition to statutory audits, Royal Premier PAC offers internal audits, risk management, tax audits, and compliance services. Their wide range of services allows businesses to consolidate their auditing needs under one roof, saving time and resources.

4. Innovative Technology

Royal Premier PAC utilizes the latest auditing software and data analytics tools. This technology enables them to conduct audits more efficiently, with higher accuracy and faster turnaround times.

5. Commitment to Compliance

Royal Premier PAC ensures that every audit is conducted in strict accordance with Singapore’s regulatory framework. Their team of auditors stays updated on the latest legal requirements, ensuring your business remains compliant with all relevant laws.

6. Competitive Pricing

While providing top-tier auditing services, Royal Premier PAC offers competitive pricing packages. They understand that businesses have budgets to manage, and they work to provide cost-effective solutions without compromising on quality.

Benefits of Partnering with a Reliable Audit Firm in Singapore

Partnering with a reputable audit firm like Royal Premier PAC offers numerous benefits:

1. Improved Financial Accuracy

By working with skilled auditors, businesses can improve the accuracy of their financial reports, which builds trust with investors and stakeholders.

2. Risk Mitigation

Audits help identify potential risks, including operational inefficiencies and compliance gaps. Addressing these risks early on prevents them from escalating into larger issues.

3. Enhanced Corporate Governance

Regular audits encourage companies to maintain strong internal controls and governance practices, promoting accountability and transparency.

4. Better Decision Making

Audited financial statements provide reliable data, enabling management to make informed decisions on financial strategy, expansion, and risk management.

5. Long-Term Sustainability

A commitment to regular audits demonstrates a company’s dedication to sustainability, ethical practices, and regulatory compliance, ensuring long-term success.

Conclusion

Choosing the right audit firm in Singapore is critical for maintaining financial integrity and compliance with the law. With a firm like Royal Premier PAC, businesses can trust they are receiving accurate, reliable, and comprehensive auditing services tailored to their specific needs. From statutory audits to complex forensic investigations, a reputable audit firm ensures your business remains compliant and positioned for long-term success.

As you evaluate audit firms, consider their experience, reputation, and range of services to ensure you partner with a firm that aligns with your business goals. Whether you’re a small business or a multinational corporation, the right audit firm will play a pivotal role in your financial well-being.

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indiatimes-news · 1 year

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Modus operandi unraveled: How over Rs 600 crore were siphoned out of country

The outward remittances were done illegally in the garb of third party payments against import of garments from Bangladesh.

Delhi Police's Special Cell registered an FIR in October 2021 regarding a syndicate that channeled money obtained through various criminal activities out of the country. This included Proceeds of Crime ( POC) obtained through illegal Chinese loan apps, illegal online gamings and also illegal bettings.

The wide network of this syndicate can be gauged from the fact that the case was first taken over by Delhi Police in October 2021. It was later transferred to the Enforcement Directorate ( ED) that is probing the matter and recently made an arrest on July 13.

From the documents that have been accessed by Republic Digital, it is mentioned categorically how accused persons, the fraudulent companies created by them on the pretext of forged documents were involved in opening of bank accounts both within and outside country and have taken out funds to the tune of Rs 338 crore.

To begin with, fake identities like Aadhaar, PAN cards and Voter ID cards were used for creating shell firms and opening multiple bank accounts.

In continuation to this, shell firms were also opened in Hong Kong, China, UAE, Singapore and Malaysia. The money that was deposited in Indian bank accounts was then successfully routed through RTGS/ NEFT.

The probe in this case by the agencies led them to get hold of Ashish Kumar Verma. It was found that Ashish along with the accomplices were able to create 18 shell firms and multiple accounts not only in private but also public banks.

Investigations have also revealed that Ashish is one among many in this huge syndicate that was successfully taking out hundreds of crores from the country.

As per law enforcement officials the other major characters involved in this crime of money laundering included Praveen Kumar based in Dubai who was involved in creating fake firms abroad, and Vipin Batra who used to be in touch with Ashish and gave him directions on how the modus operandi had to be implemented. Vipin Batra was recently arrested by the ED on July 13. He is being interrogated.

The mastermind of this syndicate is said to be Pawan Thakur, a Dubai-based bookie and an international Hawala operator. As per law enforcement officials, he is the mastermind in incorporating entities within India as well in foreign countries for remitting funds from India and receiving such funds in foreign bank accounts.

Thakur used to provide forged documents to Vipin Batra who in turn used to send these documents to Ashish Kumar Verma for executing outward remittances. Thakur used to incorporate entities in foreign countries on the backing of passports of several Indian individuals.

The modus operandi proved to be so successful that the syndicate acquired foreign exchange to the tune of Rs 271 crore and successfully sent this amount to the foreign bank account of shell companies abroad in the garb of purported imports of services giving false declarations in turn to banks.

In this, 90 percent of the amount was sent to Dubai while 10 percent was sent to Singapore.

It did not just end here. During the investigations, it was further found that Pawan Thakur was working on a similar modus operandi and in connivance with people that have been identified as Rohit Sharma, Jatin Chopra, Anmol Srivastava, Deepak Kaushal and others for illegal outward remittances.

The outward remittances were done illegally in the garb of third party payments against import of garments from Bangladesh.

From this, funds to the tune of Rs 338 crore were channeled out to Hong Kong and Singapore. Some of the fake firms that were created are Perfect Solutions, Omega Technologies, RP investment and consultancy, Flappose Trade PVT ltd, Uniwide innovations.

Fake directors of these firms were created. Bank accounts of office boys were created by giving them Rs 15,000. On their names, SIM cards used to be bought from where banking transactions used to be done.

With some arrests made in this case so far, investigations are still on to get hold of major masterminds in this Hawala racket that has resulted in more than Rs 608 crore being siphoned off the country.

#news #india news #scam #scam alert #scam warning #latest news #innews #india times news

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exportimportdata13 · 1 month

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The Global Boom in Makhana Export from India: Insights, Trends, and Opportunities

Makhana, also known as fox nuts or lotus seeds, is gaining international recognition for its nutritional benefits and versatility. Originating from China and Southeast Asia, this nutritious seed is now a major export product from India. With its rising popularity and diverse applications, makhana has become a lucrative export commodity. This article delves into the key highlights of makhana export from India, including production statistics, major exporters, and market opportunities.

1. Makhana Export Overview

1.1 Global Export Leaders

India dominates the global market for makhana, leading the world with a substantial 25,130 shipments. China and Pakistan follow, with 238 and 70 shipments respectively. This significant lead underscores India's pivotal role in the global supply chain of makhana.

1.2 Export Categories and Data

In India, makhana is exported under various HS codes, with the top categories being:

19041090: This code covers other cereals.

21069099: This category pertains to other food preparations.

08134090: This code is used for other dried fruits.

The total export volume of makhana from India for the 2023-24 period was 25,130 million metric tons. This highlights the scale and significance of India's makhana export industry.

2. Major Export Destinations

2.1 Top Importing Countries

India's makhana exports are primarily directed towards:

United States

United Kingdom

Canada

Australia

United Arab Emirates

Other notable markets include Singapore, Malaysia, Germany, Southeast Asia, and the European Union. The global appeal of makhana is driven by its health benefits and the rising demand for nutritious snacks.

3. Production Insights

3.1 Production Statistics

India is the world's largest producer of makhana, contributing 70-80% of the total global production. The state of Bihar is particularly prominent, producing over 80% of India's makhana. Here’s a breakdown of makhana production across Indian states:

3.2 Key Cultivation Regions

Bihar's districts such as Madhubani, Darbhanga, and Sitamarhi are particularly suited for makhana cultivation. The favorable climate and soil conditions in these regions contribute to high-quality production.

4. Why Makhana Export is Profitable

4.1 Growing Global Demand

Makhana's nutritional profile—rich in fiber, minerals, and vitamins—makes it highly sought after globally. Its health benefits, including aiding digestion and supporting heart health, contribute to its popularity.

4.2 Market Trends

The global trend towards healthy eating and snacking drives the demand for makhana. Varieties such as peri peri, roasted, caramel, and chocolate makhana cater to diverse consumer preferences, further boosting export opportunities.

4.3 Government Initiatives

Indian government initiatives and support for the agricultural sector enhance the production and export of makhana. Policies aimed at improving quality and export logistics contribute to the sector's growth.

5. Key Exporters and Their Impact

5.1 Leading Exporters

Several prominent Indian companies are at the forefront of makhana exports:

Cilantro Food Products Private Limited

Shree Shyam Impex

Nathubhai Cooverji and Sons

House of Pura LLP

Al Shadik Export

These exporters play a crucial role in meeting global demand and ensuring the high quality of makhana products.

5.2 Exporter Statistics

India has 1,123 registered makhana exporters serving 2,969 buyers worldwide. This network of exporters and buyers facilitates the seamless global distribution of makhana.

6. How to Export Makhana from India

6.1 Steps for Exporting Makhana

To successfully export makhana, traders must follow these steps:

Business Registration and IEC Number: Register your business and obtain an Import Export Code (IEC) for international trade.

Find and Negotiate with Buyers: Establish connections with international buyers and negotiate terms.

Quality Assurance and Certification: Ensure that your makhana meets international quality standards and obtain necessary certifications.

Apply for Export License: Secure an export license and choose the appropriate shipping method.

Customs Clearance and Documentation: Ensure that all customs requirements are met and provide the necessary documentation.

7. Conclusion

Exporting makhana from India offers significant opportunities due to the product's increasing global demand. By leveraging export data and understanding market trends, Indian exporters can effectively navigate the international market. For more detailed information and assistance, resources such as Exportimportdata.in provide valuable insights and support for developing a successful makhana export business.

Frequently Asked Questions

Is makhana export profitable?Yes, exporting makhana from India is profitable due to rising global demand and the product’s health benefits.

How much makhana does India export?India exported 25,130 million metric tons of makhana in 2023-24.

Which country imports makhana from India?Top importers include the United States, United Kingdom, Canada, Australia, and the United Arab Emirates.

Who is the largest exporter of makhana in India?Leading exporters include Cilantro Food Products Private Limited, Shree Shyam Impex, Nathubhai Cooverji and Sons, House of Pura LLP, and Al Shadik Export.

Who is the largest producer of makhana in India? Bihar is the largest producer, contributing over 80% of India’s makhana production.

#Makhana Export from India #Makhana Export Data from India #Export of Makhana from India

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krystletan · 2 months

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VCC HUB - The Ins and Outs of Variable Capital Companies Grant Scheme

The Variable Capital Companies grant scheme is a notable endeavour designed to strengthen Singapore's standing as a prominent fund management centre.

Explore a comprehensive outline of the VCC grant scheme, highlighting its advantages and essential factors that fund managers and administrators must consider.

What is the Variable Capital Companies Grant Scheme?

The Variable Capital Companies grant scheme is an initiative by the Monetary Authority of Singapore (MAS) to promote the adoption of the Variable Capital Company (VCC) framework. The scheme supports fund managers in incorporating and operationalising VCCs by defraying part of the costs involved. This support aims to boost the city-state's attractiveness as a domicile for investment funds.

Key Features of the VCC Grant Scheme

VCC Incorporation

One of the core components of the VCC grant scheme is financial support for the incorporation of VCCs. The scheme covers up to 70% of eligible expenses for VCC incorporation, capped at SGD 150,000 per VCC. This approach makes the process more accessible and less financially burdensome for fund managers.

Fund Administration Services

The scheme also subsidises the cost of engaging fund administration services, ensuring effective and professional management of VCC. These services are critical for maintaining compliance with regulatory requirements and for the smooth operation of the VCC. The grant helps to offset the cost of engaging reputable fund administrators, thereby encouraging high standards of governance and operational efficiency.

ACRA VCC Compliance

Compliance with the Accounting and Corporate Regulatory Authority (ACRA) regulations is mandatory for VCCs. The grant scheme provides support to cover the expenses related to meeting these compliance requirements. This compliance includes costs associated with regulatory filings, audits, and other compliance activities mandated by ACRA.

Benefits of the VCC Grant Scheme

Increased Efficiency and Flexibility

The VCC framework can offer greater efficiency and flexibility than traditional fund structures. VCCs allow for the creation of multiple sub-funds within a single legal entity, each with its investment objectives and segregated assets and liabilities. This structure reduces administrative burdens and costs, making it easier to manage multiple investment strategies under one umbrella.

Enhanced Investor Confidence

The VCC grant scheme helps enhance investor confidence in Singapore-domiciled funds by promoting high fund administration and compliance standards. Investors are more likely to invest in well-regulated and professionally managed funds, leading to increased capital inflows into VCCs.

VCC Tax Exemption

One of the significant advantages of incorporating a VCC is the potential for tax exemptions. Under the VCC framework, funds can benefit from various tax incentives, including exemptions on certain types of income. The VCC grant scheme further enhances these benefits by reducing the upfront costs associated with setting up a VCC, making it easier for fund managers to take advantage of the VCC tax exemption.

How to Apply for the VCC Grant Scheme

Eligibility Criteria

Applicants must be licensed or registered fund management companies in Singapore to qualify for the VCC grant scheme. Additionally, the VCC must be incorporated in Singapore and must not have previously received the grant. Detailed eligibility criteria are provided by MAS, and applicants must ensure they meet all requirements before applying.

Application Process

The application process for the VCC grant scheme involves several steps:

Preparation: Gather all necessary documentation, including details of the VCC incorporation, fund administration services, and compliance activities.

Submission: Apply through the MAS portal, ensuring all required information is provided.

Review: MAS reviews the application and may request additional information or clarification.

Approval: Once approved, the grant is disbursed according to the terms and conditions specified by MAS.

Key Considerations

When applying for the VCC Grant Scheme, it is essential to consider the following:

Documentation: Ensure all documentation is accurate and complete to avoid delays in the application process.

Compliance: Maintain ongoing compliance with ACRA and other regulatory requirements to remain eligible for the grant.

Engagement of Service Providers: Select reputable and experienced fund administration service providers to maximise the grant's benefits.

Conclusion

The Variable Capital Companies grant scheme is necessary to foster the expansion and progress of Singapore's fund management sector. This initiative offers financial aid for VCC incorporation, fund administration services, and compliance with ACRA regulations, thereby simplifying the establishment and operation of VCCs for fund managers. The scheme's advantages, such as tax exemptions, improved efficiency, and heightened investor confidence, greatly enhance Singapore's reputation as a prominent global fund management hub. Fund managers and administrators are encouraged to capitalise on this scheme to optimise their operations and accomplish their strategic goals. Visit VCC Hub, and don't let upfront costs hold you back from unlocking the full potential of the VCC framework.

Read more: https://mnbusinesssearch.com/the-ins-and-outs-of-variable-capital-companies-grant-scheme/

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sparticlem · 2 months

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Moving Kaki Pte Ltd - The Ultimate Guide to Full-Service Moving in Singapore

Relocating to a new abode in Singapore is overwhelming. Thankfully, hiring a full-service moving can help reduce the anxiety and hassle caused by resettling.

Explore the ins and outs of full-service moving, including its advantages, and learn some tips for selecting a moving service.

What is Full-Service Moving?

Full-service moving is a comprehensive moving solution that handles all aspects of the move from start to finish. This service includes packing, loading, transporting, unloading, and unpacking.

In addition to these typical services, many full-service movers also offer additional assistance such as furniture disassembly and reassembly, provision of packing materials, and temporary storage solutions. This type of service is particularly beneficial for those with limited time or who cannot manage the physical demands of moving.

Benefits of Full-Service Moving

One of the primary benefits of full-service moving is the convenience it offers. When you hire a moving service in Singapore, you do not have to worry about sourcing packing materials, organising your belongings, or the labour-intensive task of loading and unloading heavy items. Professionals handle every aspect of the move, ensuring your possessions are packed securely and transported safely.

Another significant advantage is the expertise and experience that professional movers bring. Full-service movers can handle all item types, from fragile glassware to bulky furniture, ensuring that everything is packed and transported without damage.

Furthermore, many moving companies offer insurance options, providing additional peace of mind for relocators.

How to Choose the Best Moving Service

Choosing a suitable moving service involves considering several factors. First, it is essential to verify the credentials and reputation of the moving company. Look for reviews and testimonials from previous clients to gauge their reliability and quality of service. It is also advisable to check if the company is registered and has the necessary operational licences.

Another factor to consider is the range of services offered. A good full-service moving company should provide comprehensive services, including packing, transportation, and storage options. Moving and storage services can be practical if you need temporary storage for your belongings.

Cost is another critical consideration. While it may be tempting to choose the cheapest option, it is important to balance cost with the quality of service. Request detailed quotes from multiple moving companies to compare prices and understand inclusions in the service.

Preparing for a Full-Service Move

Preparation is essential to ensuring a smooth and efficient move. Start by decluttering your home and disposing of items you no longer need. This approach will reduce the volume of items to be moved and can potentially lower your moving costs.

Next, make a detailed inventory of your belongings. This inventory will help you keep track of your items and ensure nothing is lost during the move. Communicate with your moving company to discuss any specific requirements or concerns you may have. It could include requiring packing materials for fragile items or the disassembly of large furniture.

It is also essential to schedule your move well in advance, particularly if you are moving during peak periods. This approach will give you ample time to make the necessary arrangements and ensure the availability of your preferred moving company.

Availing of Additional Services

In addition to moving services, many companies also offer integrated moving and storage services. These services can be particularly beneficial if there is a gap between your move-out and move-in dates. Movers with storage in Singapore provide secure storage facilities where you can store your belongings temporarily. These facilities are typically equipped with advanced security systems, climate control, and 24/7 monitoring to ensure the safety of your possessions.

When choosing a moving and storage service, it is essential to inquire about the security measures in place, the conditions of the storage units, and the costs involved. Some companies offer flexible storage options, allowing you to store your items for as long as needed.

Final Thoughts

Opting for a reliable moving service in Singapore guarantees a smooth and effective relocation process. With full-service movers, you can trust that your relocation will be managed carefully and your possessions will be delivered securely. Whether you require complete moving and storage solutions or specific help with packing and moving, full-service moving companies offer the necessary skills and convenience for a stress-free relocation. Planning ahead, clearly communicating your preferences, and selecting a moving company that fits your needs and budget are all critical to move in and out of your abode hassle-free.

Contact Moving Kaki, and let us take the stress out of your move so you can focus on settling into your new home.

#‌moving service Singapore #full service moving #moving and storage servicesmovers with storage Singapore

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matildaschmidttrades · 2 months

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Discovering My Potential with ORION Wealth Academy

I’m thrilled to share my experience with the ORION Wealth Academy’s GOAT1001 program. This program is perfect for anyone interested in trading, whether you’re a complete novice or someone with a bit of experience. The upcoming sessions on August 13th, 20th, and 27th at HarbourFront Tower Two in Singapore offer a fantastic opportunity to dive into the world of trading and discover your potential.

What is ORION Wealth Academy?

ORION Wealth Academy is a one-stop platform for wealth and trading knowledge, connecting you with expert instructors and strategies to enhance your financial literacy and achieve wealth growth. It’s designed to equip you with the skills and insights needed to navigate the financial markets confidently.

A Proven Path to Success

Back in 2009, the BBC in the UK recruited 1,000 trading novices, and eight of them were trained by financial guru Lex van Dam, proving that anyone can become a professional trader with the right guidance. Inspired by this, ORION Wealth Academy is now on the hunt for the next hidden master trader, and I couldn’t resist joining the program to see if I had what it takes.

The program offers trading strategies that are easy to learn and boast up to an 80% win rate. With professional support for money management and risk control, participants can learn to trade effectively in just a week. It’s an exciting chance to unlock potential and learn from the best in the industry.

An Exciting Learning Journey

During the Demo Selection Period, I got to trade with a $100,000 demo account. Competing in a private group, I could track my progress through daily and weekly rankings, which was both challenging and rewarding. The demo period was a safe environment to test strategies and learn without the pressure of real money on the line.

In the Practical Assessment Period, things got real with a $1,000 live account. It was an incredible experience to apply what I learned in a practical setting, with various account options tailored to different levels of comfort and risk.

Finally, the Signal Trader Program offered the chance to trade long-term with a company-provided account, focusing on strict entry, exit, and stop-loss strategies.

Why I Recommend ORION Wealth Academy

The benefits of joining this program are immense. With exclusive access to trading strategies that deliver up to 30% annual returns without leverage, I felt empowered and supported every step of the way. The academy’s top-tier risk management ensured my trades were safe and sound, allowing me to trade with confidence.

Whether you’re looking to boost your trading power with as little as $150 or aim to manage big capital, ORION Wealth Academy provides the tools and support you need. They make it easy to start, offering clear guidance and a supportive environment that nurtures both beginners and those looking to refine their skills.

Join the Journey

I am delighted to have been part of the GOAT1001 program and encourage anyone interested in trading to join. With the support of ORION Wealth Academy, you can transform your financial future and explore the exciting possibilities of trading. Register now and see for yourself how you can go from zero to hero in the world of trading!

#forexstrategy #forextrading #forex online trading #forexsignals #forexmentor #forexprofit #forexbroker #forexmarket #forex

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enterslices · 2 months

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How to Open a LLC in Singapore

Singapore is a popular choice for setting up an LLC due to its robust business environment and strategic advantages. Opening an LLC in Singapore involves several key steps. Start by choosing a unique company name and registering it with the Accounting and Corporate Regulatory Authority (ACRA). Prepare necessary documents, including the company’s constitution and details of directors, shareholders, and company secretary. Ensure compliance with local laws by having at least one local director. File the incorporation documents with ACRA, and once approved, you’ll receive a certificate of incorporation. Finally, open a corporate bank account to facilitate business transactions.

#singapore llc setup #open llc in singapore #business setup Singapore

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incorporatesg · 2 months

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Understanding the Process of Business Incorporation in Singapore

Setting up a business can be an exciting yet challenging endeavor, especially when navigating the legal and administrative requirements. In Singapore, understanding the incorporation process is crucial for ensuring that your business is established smoothly and in compliance with local regulations. This article provides an overview of the key steps involved in business incorporation in Singapore and highlights some valuable resources to guide you through the process.

The LLP Registration Process

A Limited Liability Partnership (LLP) is a popular business structure in Singapore that offers the benefits of limited liability while allowing flexibility in management. Registering an LLP involves several steps, including choosing a unique name, appointing partners, and filing the necessary documents with the Accounting and Corporate Regulatory Authority (ACRA). For a comprehensive guide on how to register an LLP in Singapore, explore this detailed overview.

Choosing the Best Incorporation Services

Selecting the right incorporation services can make a significant difference in the efficiency and ease of setting up your business. Professional incorporation services provide expertise in handling the paperwork, compliance, and other aspects of the registration process. To find out about the top incorporation services available in Singapore, check out this resource.

Business Filings for Incorporated Entities

Once your business is incorporated, maintaining proper records and filing necessary documents is essential for compliance and smooth operations. This includes submitting annual returns, updating company details, and other regulatory filings. For information on managing your business filings after incorporation, visit this page.

Understanding Incorporation Tests

Incorporation tests are often used to determine the appropriateness of various business structures and to ensure compliance with legal requirements. These tests can include evaluating the nature of your business, its financial structure, and its operational needs. To learn more about what these tests entail, read this informative article.

Defining Incorporation Tests

A clear understanding of what incorporation tests involve can help you make informed decisions about the best structure for your business. These tests often assess factors such as the type of business, legal implications, and financial considerations. For a detailed definition and explanation of incorporation tests, click here.

Additional Resources

For those looking to stay informed about business regulations and incorporation processes, there are several reputable sources available. Websites like Business Insider and Forbes offer valuable insights into global business trends and regulatory changes. Additionally, major news outlets such as The Wall Street Journal and BBC frequently cover important business and economic updates.

Conclusion

Navigating the business incorporation process in Singapore requires careful planning and a good understanding of legal requirements. From registering an LLP to choosing the right incorporation services and managing business filings, being well-informed can ensure a smooth establishment and operation of your business. For further details and expert guidance, be sure to explore the links provided in this article.

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