Introduction to Corporate Law Singapore
In the eyes of the law, all companies big or small should be registered and should follow the common law instituted for them. This law is known as the Companies Act, it is the corporate law Singapore that governs all businesses or companies in Singapore.
Under this provision are the rights and obligations of any corporation owners. So it is wise to say that knowledge of the corporate law Singapore will help protect the welfare of your business in many ways.
Obligations under Corporate Law Singapore
Under the law, all business with 20 or more than members should be registered as a company. Along with this are all proper documentations as required by the Act.
Corporate law Singapore is therefore obligated to follow the law under which is incorporated. That includes facing any consequences that goes with it. Creditors of the company are the sole payers of debts even if their constituents are solvent. The members of the company are only obliged to pay the contribution depending on their subscription.
But there are exceptions on these provisions depending on how the law sees it or if it’s deemed to be lifted. Now to better understand this law, corporation often resort to hiring a corporate lawyer to explain to them further what is to be seen under this.
Corporate Law Singapore And Your Business
The nature of having a business is to gain as much profit as possible but the challenge in there is the fact that you also have to comply with whatever it is the law requires. Although it is really bothersome, in the end, the benefits of always keeping your nose under the law will actually help your company gain more security. The efforts put into following what’s on the rule will eventually pay off when you’ll need it.