Topic > Duties of directors and shareholders in a Singapore...

Difference between directors and shareholdersDirectors:One of the main requirements for registering a Singapore limited company is to have at least one director resident in Singapore. This means the person must be a Singapore citizen, Singapore permanent resident or Entrepreneur Pass holder. The duties of administrators fall into two broad categories:1. Legal duties of care, skill and diligence, e2. General law duties or fiduciary duties of loyalty and good faith. Statutory duties are administrative duties, enforced by the Accounting and Corporate Regulatory Authority of Singapore (ACRA) such as:1. General information obligations.2. Updating and keeping the company's accounting records.3. Preparing the financial statement for the company's Annual General Meeting (AGM).4. Ensure that the first AGM is held within 18 months of the company's incorporation and thereafter in each calendar year, with an interval not exceeding 15 months.5. Ensure the regular conduct of meetings of directors and shareholders to review the financial and financial situation of the company...