Engage An Experienced Corporate or Commercial Lawyer In Singapore
In recent years, Singapore has already established its reputation to be one of the most well-known business and financial centers in the world. With a solid foundation in corporate and commercial laws, it is no surprise that many investors and entrepreneurs choose to start their businesses in Singapore. According to ARCA, there are more than 400,000 registered business entities in 2018 and the numbers are still increasing despite the COVID-19 Pandemic.
Having a corporate lawyer or commercial lawyer in Singapore to start a business may be an important consideration to ensure that your company’s actions or commercial transactions are compliant with the law.
Over a broad range of corporate and commercial matters, The Singapore Lawyer will be able to provide you with advice and affirmative action. Our team comprises some of the best business lawyers in Singapore that have years of experience in corporate matters and commercial law. You will be assigned a dedicated business lawyer that has a deep understanding of your industry. He/she will then guide you through the regulatory obligations, understand your business nature, future plans and offer the best strategic advice that is tailored to you.
We will share with you why you need a commercial or corporate lawyer in Singapore and how a business lawyer can be beneficial for your business in the long term.
The Key Differences Between Commercial Laws & Corporate Laws In Singapore
What Are Corporate Laws
Corporate laws are the rules that govern how a company is run. It regulates the legal entities of private or public companies and other forms of business organizations of any kind, This includes sole proprietorships, partnerships, corporations, trusts, etc.
It also covers important information such as what you can and cannot do as an employer, what happens if there’s a dispute between two parties in your workplace and more.
If you have complicated questions about corporate laws in Singapore and need an answer urgently, reach out to us now. We have some of the best corporate and commercial lawyers in Singapore that have expertise in reviewing, drafting and negotiating a wide range of business law contracts.
What Are Commercial Laws
Commercial law is the branch of law that regulates and governs commercial transactions and/or business deals. The term “commercial” describes any type of business activity in which people make money from selling goods or services. For example:
- Buying and selling property; and
- Running a business eg. restaurants, hotels, shops, etc.
In Singapore, the Legal Profession Act governs all commercial-related laws. Some core regulations include:
- Professional membership;
- Practicing certificates; and
- Advertising prohibitions.
To find out more, our in-house corporate lawyers have also written some extra resources that might be able to offer you some clarity here:
The Importance Of Hiring Corporate Or Commercial Lawyers In Singapore To Manage Potential Legal Business Risks
Corporate & commercial lawyers in Singapore play a crucial role in managing companies’ legal affairs and preventing potential legal consequences. This is especially important in Singapore as all illegal activities are not to be tolerated and hefty penalties will be charged to those that are found guilty.
Unsurprisingly, there have been multiple news reports on business owners being fined up to $50,000 and/or sentenced to jail. Some even have to close down their business completely. Such strict measures enforced by the Singapore Government must be adhered to by all businesses no matter how big or small the organisation/ firm is.
Businesses that operate primarily as international companies may face trickier and stricter regulations as there could be more serious penalties and chargeable offenses if the company is found to have breached any of the corporate or commercial laws.
Therefore, business owners are highly encouraged to engage a corporate or commercial lawyer to help prevent them from falling into legal consequences unknowingly. Some of the core factors that you need to identify when looking for a corporate or commercial lawyer includes:
- Ensuring that your business lawyer is familiar with the different laws and regulations in Singapore, particularly for your business’ industry.
- Have experience in drafting and vetting all kinds of commercial contracts in his/ her portfolio.
- Able to protect your business against any potential legal risks while complying with the latest employment law and MOM regulations.
If you are looking for a business lawyer, you can consider working with our corporate and commercial lawyers. We have:
- A well-versed experience in local and international corporate and commercial work.
- Ventured into capital and private equity, joint ventures, local disputes, and more.
Schedule your free consultation session with us to find out how we might be able to help your business.
Get the Upper Hand With The Best Corporate Or Commercial Lawyers In Singapore
The Singapore Lawyer has been helping businesses with their legal needs since 2016. Our clients include both local businesses and enterprises as well as international corporations from all over the world. No matter if you run a small or a large business, we will ensure that your legal issues are handled professionally by lawyers who understand your industry.
What differentiates us from the rest is that we will always ensure that all our clients are given clear, prompt and practical advice, without struggling to understand complex terminology of corporate or commercial laws.
As one of the leading law firms in Singapore, we provide free consultations even before you become our clients. We are committed to making sure that the laws in Singapore protect you and not against you.
Frequently Asked Questions About Corporate Or Commercial Lawyers In Singapore
Is Company Law And Corporate Law The Same?
Yes. A legal entity created by an act of parliament can be referred to as a company or corporate. The rights, relations, and conduct of persons, companies, organisations and businesses are governed by corporate law in Singapore.
As A Small Company (SME), Do I Need A Corporate Or Commercial Lawyer In Singapore?
Yes. Small to medium enterprises (SME) make up more than 99% of all businesses locally.
For these businesses, corporate and commercial laws are vital in their growth and overall success. The common mistake made by most people is not being well versed in corporate or commercial law and they often don’t bother to read up on it before starting a business.
You need to understand that the commercial industry is constantly changing and so do the laws in Singapore. It is essential to look for a specialist that can offer you legal advice based on the current trends and changes. This is why we even launched a YouTube Channel The Singapore Lawyer to educate our clients, business owners and viewers in identifying key legal requirements.
If you have any burning questions, email us at [email protected] or call us at +65 6974 0068 today.
Who Regulates Companies In Singapore?
The Accounting and Corporate Regulatory Authority (ACRA) requires all businesses in Singapore to be registered under them during the company incorporation process.
To help you get started before opening a business in Singapore here is a useful “Before You Start” Guide from ACRA that contains essential information you must know.
What Is The Singapore Company Act?
The Singapore Company Act was introduced in 1967 and it governs the life-cycle of all the companies in Singapore from registration to final adjustment.
What Skills Should Corporate Lawyers Possess?
Corporate lawyers should have excellent communication, negotiation and writing skills. These skills are essential for corporate lawyers to represent their clients well in court.