Singapore Company Annual General Meeting AGM Guide Easily Navigate the AGM Process

Singapore Company Annual Review Guide Make the Process Easy for You

In Singapore, the annual company review is an important task that every business must complete each year. It not only summarizes the operating conditions of the company over the past year but also ensures its legal and compliant operation. For newly established companies, the annual review may seem complicated and cumbersome; however, as long as you follow the correct steps, you can successfully complete this process.

Firstly, understanding the timing of the annual review is crucial. Generally, the annual report Annual Return should be submitted within three months after the end of the company's fiscal year. For instance, if a company’s fiscal year-end is June 30, 2025, its annual report must be submitted to the Accounting and Corporate Regulatory Authority ACRA before September 30, 2025. Failure to submit on time may result in fines or other legal consequences, so it is advisable to prepare in advance.

Next, preparing the relevant documents is essential. Companies need to organize and submit a series of documents, including but not limited to financial statements, directors' declarations, and minutes of shareholders' meetings. These documents must truthfully reflect the company's operating status and be reviewed and confirmed by professional accountants or auditors. It is worth noting that since 2025, Singapore has abolished the mandatory statutory audit requirement unless otherwise stipulated in the company's articles of association or specific conditions are met, such as total assets exceeding SGD 5 million or annual turnover exceeding SGD 10 million. Even so, maintaining good financial management records remains a key part of corporate management.

When submitting the annual report, accurate information must be filled out. This involves updating basic company information as well as explaining changes in the company's governance structure. For example, if there are new directors joining or existing ones leaving, these changes need to be reflected in the report promptly. At the same time, major shareholders holding more than 20% of the shares should also be registered.

In addition to submitting the annual report to ACRA, businesses must also pay the corresponding fees. The amount varies depending on the type and size of the company, generally ranging from tens to hundreds of Singapore dollars. Payment can be made through online bank transfers, which is convenient and fast.

To help small and medium-sized enterprises better cope with the challenges of the annual review, Singapore offers various support measures. For example, the Corporate Secretary Services Scheme allows eligible small businesses to hire third-party organizations to handle daily administrative tasks; additionally, the Corporate Secretary Course aims to enhance the professional skills of relevant personnel. These initiatives undoubtedly alleviate much of the burden on enterprises.

In conclusion, although the annual review of a Singaporean company may seem complex, it is actually not difficult as long as you plan your schedule in advance and properly prepare the required materials. Hopefully, this article provides some reference value for your annual review journey. If you have any further questions, feel free to consult professionals for more detailed guidance. After all, ensuring that all procedures are complete and error-free enables a company to operate more confidently in future market competition.