New Ark Consulting

03/10/2025

📌 Thinking of hiring foreign employees in Singapore?

Before you make workforce plans, it’s important to understand two key policies that shape manpower strategy:
✅ Dependency Ratio Ceiling – caps the proportion of foreign staff by industry
✅ Foreign Worker Levy – monthly levy that directly impacts manpower costs

These rules not only affect hiring decisions but also determine compliance risks and long-term workforce planning.

In our latest article, we break down:
Industry-specific quota limits
Sub-quotas for certain nationalities
How levies are calculated
Common challenges faced by foreign companies
👉 Read the full guide here: https://new-ark.sg/blog/accounting-tax-9/30 =0

26/09/2025

🌏 Expanding Your Business to Singapore? Don’t Overlook HR Compliance!
Singapore is a thriving hub for global businesses—but navigating employment regulations can be challenging for foreign companies.

From employment contracts and work passes to local salary benchmarks and benefits, understanding HR compliance is key to running your operations smoothly and avoiding legal pitfalls.

Our latest article breaks down the essential HR compliance considerations for foreign companies in Singapore. Learn how to set up contracts, manage payroll, and design employee benefits that attract and retain local talent.

🔗 Read the full guide here: https://new-ark.sg/blog/accounting-tax-9/29 =0
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24/09/2025

Your toughest accounting problem solved in 30 minutes. Contact us now at https://wa.me/6588308077

19/09/2025

Think your finance needs stop at bookkeeping? Think again.

From incorporation and tax filing to CFO-level advisory and M&A support — outsourcing gives companies the expertise they need, exactly when they need it.

Our latest article breaks it down by business stage: https://new-ark.sg/blog/accounting-tax-9/28

11/09/2025

Dear Valued Clients,

We are excited to announce that New Ark Consulting will be relocating to a new office! This move allows us to continue providing our clients with comprehensive and professional consulting services in an enhanced working environment.

New Office Address (Effective 12 September 2025):
152 Beach Road, Level 36, The Gateway East, Singapore 189721

Contact Details:
Our phone and WhatsApp number remain unchanged: +65 8830 8077

We look forward to welcoming you to our new office and continuing to work closely with you in the future.

New Ark Consulting Team

30/09/2024

Staying compliant with tax filing deadlines is crucial for businesses in Singapore, as evidenced by the over 4,700 companies prosecuted in 2023 for late or non-filing of tax returns.

At New Ark, we help our clients avoid these costly pitfalls by ensuring timely and accurate filing. Don’t let your company become a statistic—reach out to us for expert guidance and seamless tax compliance.

MORE than 4,700 companies were prosecuted in 2023 for late or non-filing of tax returns, amounting to total penalties that exceeded S$4.9 million, said the Inland Revenue Authority of Singapore (Iras) in a statement on Thursday (Sep 26). Read more at The Business Times.

20/09/2024

🏎️ Exciting day at our office as we gear up for the F1 2024 session!

Our team enjoyed some high-speed action straight from our office. Watching the drivers fine-tune their skills reminds us of the precision and planning we bring to managing our HNWI clients' legacies. Here’s to racing towards success, both on and off the track! 🏁

18/09/2024

Singapore's Single Family Office Boom

The number of Single Family Offices (SFOs) awarded tax perks has surged to 1,650 by the end of August. This growth highlights Singapore’s increasing appeal as a premier hub for wealth management and succession planning.

At New Ark, we specialize in helping HNWI and their families establish SFOs in Singapore, providing tailored wealth management, tax planning, and concierge services that go beyond traditional offerings.

As the demand for SFOs grows, we are here to ensure that your family wealth is protected for generations. Reach out to us to learn more about how we can assist with your family office setup and strategic wealth management. https://wa.me/6588308077 or [email protected]

https://www.businesstimes.com.sg/companies-markets/number-single-family-offices-awarded-tax-perks-hit-1650-end-august

THE Monetary Authority of Singapore had, as at the end of August, awarded tax incentives to some 1,650 single family offices (SFOs). Read more at The Business Times.

21/08/2024

🌍 Global Investor Programme: A Key Driver for Singapore's Investment Growth 💼

Did you know? An astounding SGD 950 million has been invested into Singapore-based companies through the Global Investor Programme (GIP) by the end of last year.

The Global Investor Programme (GIP) accords Singapore Permanent Resident status (PR) to eligible global investors who intend to drive their businesses and investment growth from Singapore.

These investments fall under Option B of the GIP, which requires investors to commit SGD 25 million into GIP-select funds—an increase from the previous SGD 2.5 million requirement last March. EDB has appointed seven fund management companies as GIP-select funds last June.

Investors from China, Indonesia, and Malaysia—particularly in the manufacturing, tech, and logistics sectors—have been key contributors. The growing political tension between China and the US has prompted many Chinese companies to seek neutral locations like Singapore to establish their headquarters, enabling expansion into global markets.

The GIP, administered by the EDB, offers three options for eligibility:

Option A: Demonstrate an investment of at least SGD 10 million in a new business entity or the expansion of an existing business operation in Singapore.

Option B: Invest SGD 25 million in a GIP-select fund* that invests in Singapore-based companies.

Option C: Establish a Singapore-based Single-Family Office with Assets-Under-Management (AUM) of at least SGD 200 million, with a minimum of SGD 50 million transferred into Singapore and deployed across any of the four investment categories listed by the GIP.

Singapore remains a prime destination for global investors, offering a stable and strategic base for businesses to grow and thrive. 🚀

You can reach us at https://wa.me/6588308077 or [email protected] for GIP enquiries.

21/08/2024

Singapore is ranked among the easiest places in the world to set up and manage a business. One of the main reason is our firm regulatory environment that weeds out bad players in the market.

With the 3 billion money laundering fraud and cases like this, banks will implement more stringent requirements during corporate account opening and other services.

You can reach us at https://wa.me/6588308077 or [email protected] for incorporation and accounting enquiries.

SINGAPORE — To pay shareholders, the co-founder of Novena Global Healthcare Group (NGHG) and an employee of the medical group forged several financial documents to obtain loans from six banks.