Proposed Changes to the Singapore Companies Act – How Does it Affect You as A Chinese Investor?
摘要
On 20 July 2020, the Accounting and Corporate Regulatory Authority (ACRA) of Singapore published the report of the Companies Act Working Group (CAWG) (Report), wherein the CAWG proposed certain amendments to Singapore’s existing Companies Act (Cap. 50) (CA) following a review of several areas of the CA (Proposed Amendments). While the Proposed Amendments are only at the preliminary public consultation stage and are subject to change, the increasing emphasis on keeping pace with technology and reduction of compliance costs is indicative of a more pro-business stance from a corporate regulatory perspective. Foreign investors, particularly Chinese investors, seeking to invest in Singapore as a springboard into South East Asia or otherwise, will likely benefit from the trend of deregulation, which will lead to greater time savings and cost efficiency.
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