Regulations for subsidiary companies
As a foreign subsidiary, do I need to file annual returns?
All locally incorporated companies are required to hold an Annual General Meeting (AGM) and file annual returns under S175, S197, and S201 of the Companies Act. At the AGM, directors are to present a true and fair view of the company’s accounts to their shareholders.
The Companies Act does not prescribe the minimum level of qualification for the person preparing the accounts. However, it is the responsibility of the directors to appoint individuals with the required level of expertise for the preparation of such accounts. Having said that, it is important to have the right secretarial support to ensure you’ve met all regulatory requirements.
Understand the ACRA Annual Compliance needed to be perform yearly.
| Requirements | Descriptions | Companies Act |
|---|---|---|
| Annual General Meeting (AGM) |
1. A company is required to hold its first AGM within 18 months after its incorporation. 2. Subsequent AGMs must be held every calendar year. The interval between AGMs must not be more than 15 months. |
Section 175 |
| Audited/Unaudited Accounts | The Annual Return must be filed with the Registrar within the one-month period following the AGM. | Section 197 |
| Public/Listed Company |
For a public company listed or quoted on a securities exchange in Singapore: Accounts presented at the AGM must be made up to a date not more than four months before the AGM. In the case of any other company: Accounts presented at the AGM must be made up to a date not more than six months |
Section 201 |