Singapore: Types of Company
Exempt Private Company
An exempt private company (EPC) has a maximum of 20 shareholders, none of which may be a corporation, either directly or indirectly. EPCs are only required to audit their accounts if they have an annual turnover of over SG$5m. Accounts do not need to be filed with the Accounting and Corporate Regulatory Authority (ACRA), although an exempt company certificate declaring the EPC's solvency status must be submitted. An annual tax return must be filed with both ACRA and the local inland revenue (IRAS) within one month of the company's annual general meeting.