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[Premia TNC] Weekly Newsletter 2024 Vol.19

Premia TNC E-Newsletter

Establishing international corporations and managing tax accounting information.
Tackling worldwide challenges and embracing global trends simultaneously!

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💡Weekly E-Newsletter

📢 Hong Kong | CR Filing Requirements of a Local Limited Company After Incorporation

Every local limited company incorporated in Hong Kong must submit statutory returns to the Registrar of Companies promptly, as required by the Companies Ordinance (CO). Failure to do so constitutes a breach and can lead to prosecution and fines for responsible individuals like directors, company secretaries, managers, and authorized representatives. The key statutory returns include the NAR1 (Annual Return), which must be delivered within 42 days after the company’s anniversary date with an annual registration fee, subject to significantly higher fees for late submission (ranging from HK$870 to HK$3,480). Other essential forms include the NR1 (Notice of Change of Address of Registered Office), ND2A (Notice of Change of Company Secretary & Director), ND2B (Notice of Changes in Particulars of Company Secretary & Director), and NSC1 (Return of Allotment), each with specific delivery timelines and requirements.

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📈 Singapore | Singapore Sees 2.7% GDP Growth in Q1 2024

According to preliminary estimates by the Singapore Ministry of Trade and Industry, Singapore’s economy grew by 2.7% year-on-year in Q1 2024, surpassing the previous quarter’s 2.2% growth with a slight quarter-on-quarter expansion of 0.1%. The manufacturing sector saw 0.8% year-on-year growth but contracted by 2.9% quarter-on-quarter, driven by mixed performances in various subsectors. Construction grew by 4.3% year-on-year but contracted by 1.7% quarter-on-quarter, led by public sector projects. Services sectors like wholesale and retail trade, transportation and storage, information and communications, finance and insurance, and professional services exhibited year-on-year growth but experienced varying levels of contraction quarter-on-quarter, with notable expansions in specific segments. Remaining service sectors, including accommodation and food services, real estate, and administrative and support services, showed year-on-year growth and expanded quarter-on-quarter, particularly in the accommodation sector due to international visitor arrivals’ recovery. The Economic Survey of Singapore in May 2024 will provide detailed Q1 2024 GDP estimates.

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💰 Taiwan | Personal Income Tax (PIT) Filing Due Date: May 31, 2024

The 2023 alien personal income tax filing period is from May 1st to May 31st, 2024. Exemptions include NTD92,000 (NTD138,000 for individuals aged 70 or above), with a standard deduction of NTD124,000 (NTD248,000 for couples). Special deductions consist of NTD207,000 for salary, NTD120,000 per preschool child under 5, NTD25,000 for tuition, NTD270,000 for savings and investments, NTD207,000 for disabilities, and NTD120,000 for long-term care.

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📑 Vietnam | Ninh Thuan Awarded Investment for 14 Projects Worth 120,000 billion VND

At the conference, the Ninh Thuan Provincial People’s Committee awarded investment registration certificates to seven projects totaling 120,000 billion VND. These included 3 manufacturing projects (Ninh Thuan Textile and Dyeing Factory, Hoang Thanh Do Luong Garment Factory, and Beverage Factory), 2 energy projects (Phuoc Huu Wind Power Plant and Vietnam Power Wind Power Project No. 1), and 2 other projects (Go Ninh Thuan Shopping Center and Ischool Ninh Thuan Kindergarten and High School). The committee also awarded investment registration memoranda for seven additional projects, including four energy projects, two manufacturing projects, and one real estate project.

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💼 Malaysia | Malaysia Tech Entrepreneur Programme (MTEP)

Following up with the previous edition, in order to apply for the Malaysia Tech Entrepreneur Programme (MTEP), start by submitting your application online. After about four weeks for approval, proceed to enter Malaysia. Complete the necessary passport endorsement procedures and expect your pass issuance within one week, provided all required documents are submitted and verified by MDEC. Efficient progress depends on timely and complete document submission, ensuring a smooth process for securing your MTEP pass.

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Discover Our Newest Service!

🆕 Singapore | A Glance At Singapore Variable Capital Company Structure

Premia TNC proudly unveils its exclusive service for the establishment of Singapore Variable Capital Companies (VCC), an efficient umbrella structure meticulously designed for investment funds. Discover limitless expansion possibilities and unrestricted flexibility within this sophisticated framework, offering scalability, tax efficiency, and operational flexibility. Experience a professional suite of services tailored to guide you through the complexities, ensuring strategic leveraging of VCC advantages.

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🆕 Vietnam | Enhance Your Business with Vietnam Compliance Consultancy

Discover unparalleled Vietnam Compliance Consultancy Services from Premia TNC. Navigate regulatory landscapes seamlessly, ensuring your business thrives in Vietnam’s dynamic market. Contact us for expert guidance on sustainable success.

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Exclusive Markdowns!

🌟 Premia TNC Hong Kong x Cathay | Unlock Rewards that Take you Places When you Partner with Premia TNC to Earn Over 10,000 Asia Miles!

Embark on a rewarding journey for your business with PREMIA TNC x Cathay. Seize the opportunity to earn over 10,000 Asia Miles by joining our services. From enticing welcome offers to lucrative referral bonuses, every order placed successfully brings you closer to a world of unparalleled benefits. Grow your business and reap the rewards by elevating your success with PREMIA TNC!

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🌟 Premia TNC Hong Kong x Mastercard | Tailored Excellence and $500 Off! Elevate your Business with Premia TNC Hong Kong for This Exclusive Deal.

Get personalized corporate services at Premia TNC Hong Kong, designed for your unique needs. Our dedicated consultants handle tasks, letting you concentrate on growth. Enjoy a USD$500 discount using your Business Mastercard, unlocking 30% off premium accounting and tax filing services in Hong Kong.

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🌟 Premia TNC Taiwan x Mastercard | Propel your Business and Get $500 Off on us for the Personalized Success that Awaits you with Premia TNC Taiwan.

Experience personalized corporate services at Premia TNC Taiwan, tailored for your unique needs. Let our dedicated consultants manage tasks, freeing you to focus on growth. Take advantage of a USD$500 discount with your Business Mastercard, unlocking a 30% discount on premium accounting and tax filing services in Taiwan.

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🌟 Premia TNC Singapore x Vietnam | Masterplan your Expansion with Exclusive Markdowns for your Singapore Holding Company and Vietnam Subsidiary Ventures.

Unlock tax advantages in SG (territorial tax, 17% corporate tax) and VN (20%, DTAs, 0–17% incentives, loss carry-forward). Flourish in business-friendly environments with no withholding tax on dividends. Elevate your expansion strategy today, complemented by a limited-time discount with us.

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⭐ Premia TNC Singapore x Oasia Hotel Downtown | Enjoy Exclusive Corporate Rates at Oasia Hotel Downtown, Singapore!

Kick back and relax with our special corporate rates at the Oasia Hotel Downtown, Singapore, exclusively extended to all clients of Premia TNC Singapore Pte. Limited. Elevate your stay to a realm of refined luxury.

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⭐ Premia TNC Singapore x The Clan Hotel | Exquisite Corporate Privileges Await at The Clan Hotel, Singapore!

Indulge in the epitome of luxury with our premium corporate rates at The Clan Hotel, Singapore, exclusively curated for esteemed clients of Premia TNC Singapore Pte. Limited. Elevate your corporate stay to unparalleled sophistication.

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Premia TNC Vietnam Webinar

Foreign Loan Strategies and Documentation for FDI Enterprises in Vietnam 

Discover Insights on Foreign Loan Strategies and Documentation for FDI Enterprises in Vietnam!
Attend our webinar on May 31, 2024, for valuable information, free consultations, and comprehensive materials to enhance your understanding of foreign loan strategies and more in Vietnam. Secure your booking today!

<Vietnam 🇻🇳>

Date: Thursday, May 31, 2024,  2:00 – 3:00 PM
Target companies: Clients looking for methods and notes on foreign loans of FDI companies in Vietnam
Speaker: Consultant – Iris

→ Webinar participation application link

Premia TNC May News

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Premia TNC May Holiday Notice

Welcome May with open arms and an inspired heart! Let this month be filled with bright possibilities, happiness, and enriching experiences. 🌷

Check Our Complete Schedule for May

🗞️Writer: Faraaz
🗞️Productor: Julia ⋅ Felice

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Founded in 2003, Premia TNC operates in Hong Kong, Singapore, Vietnam, Taiwan, Malaysia, Korea, and Dubai.
We provide consulting and accounting services, including corporate establishment, management, accounting, tax advice, and auditing.
Unit 706, 7/F, Tower 2, South Seas Centre, 75 Mody Rd, Tsim Sha Tsui, Hong Kong

TEL (+852) 6484 3419
[email protected]