Foreign companies can now transfer their registration from their original jurisdiction to Singapore.
This will allow foreign companies to re-domicile to Singapore, instead of having to set up a subsidiary here, reducing operational disruption to the company.
Such transfers are possible under the new inward re-domiciliation regime that took effect on Oct 11 - one of the key changes made to the Companies Act in March.
The move is expected to boost Singapore's competitiveness as a business hub, by facilitating the transfer or the setting-up of business in the city-state for foreigners.

Read more about this here.

Digital Financial OfficerIn fact, an overwhelming 79% of the respondents in a survey conducted by CPA Congress 2017, as claimed by the article here.

This is a surprisingly large percentage and we do hope it is not a representative sample.

Nevertheless, here at Echtual, we believe we are amongst the 21%. The top skills highlighted in the article; namely:

• Strategic thinking
• Business acumen
• Leadership
• Communication
• Influencing
• Analysis and
• Advisory

Are what our Echtual Professionals are well-equipped with. 

Which is why we are confident our DFO services will serve businesses in need of these skills well.
If your business have been engaging professionals that are part of the 79%, its time you experience the "echtual" difference.
Contact us today for an obligation free consultation!

Our office will be closed tomorrow, 18 October 2017 for the Deepavali holiday.

​Wishing all our Hindu clients a very Happy Deepavali!

We are pleased to announce our strategic collaboration with LegalPack!

LegalPack is an innovative online legal contract editing platform suitable for all businesses. Backed by experienced lawyers and tech professionals, LegalPack provides a suite of legal templates which you may easily edit to suit your business needs anytime anywhere.
 
From our conversations with customers, some had wanted to engage lawyers but found that legal costs, including drafting of simple contracts, were way beyond their budget.
 
We believe that LegalPack will be a good solution for you as their legal templates have been prepared by qualified lawyers who have chosen to keep legal costs affordable.
 
We are glad that we have identified this partner and share their vision of making legal contracts accessible to you and bringing legal costs within the budget of all businesses.

As a Strategic Partner, our customers are entitled to a SPECIAL 5% DISCOUNT OFF retail price.
Call us now to enquire about LegalPack’s Starter Pack* to enjoy this special price!

We are proud to announce we are now Certified ProAdvisors for QuickBooks Online!

Sign up through us now and enjoy up to 70% discount on your subscription and unlimited users!

Hurry this offer ends 30 October 2017!

Looks like the first mass adoption of blockchain technology here might be this Know Your Customer prototype created by OCBC, HSBC and MUFG.
Due to Anti-Money Laundering and Counter Terrorism Financing measures taken here, Know Your Customer procedures are very important but are often time consuming and tedious for the customers. If blockchain can be used to ease this pain for all of us, I can see widespread adoption of this happening soon.
This will in turn spur many to think of how else blockchain technology can help in the marketplace.

During this year's Singapore Accountancy and Audit Convention, it was announced that ACRA might be given the power to sanction audit firms in the future. This is in line with Singapore's efforts to further improve corporate governance in Singapore.

Read more about it here.