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Singapore AML and KYC Rules for Foreign Shareholders

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Singapore AML and KYC Rules for Foreign Shareholders

Company formation in Singapore is quick, but banking and compliance reviews are separate, layered, and can be lengthy, especially for high-risk sectors, requiring thorough documentation and adherence to due diligence processes.

Company Formation and Processing Duration

In Singapore, establishing a company involves separate stages of formation and operation. Simple incorporations can typically be completed within one to three business days once all necessary documents are submitted. However, if the application requires verification by additional authorities, the process can extend from 14 days up to two months.

Assessments for Foreign Shareholders and Account Opening

Foreign shareholders are subject to independent reviews by a corporate service provider during incorporation and separately by banks during account setup. Clearance from the corporate registry does not guarantee approval from financial institutions, so investors should anticipate multiple assessment stages, rather than a single approval.

Documentation and Due Diligence

Individuals must present identity verification, proof of residence, professional background, and detailed explanations of their source of wealth and funds. Banks conduct layered compliance reviews, with more in-depth assessments for higher risks. The process may take several weeks, especially for complex business models or sectors like digital assets or cross-border transactions, impacting the timeline for capital deployment.

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Apple Reportedly Plans to Unveil At Least 5 New Products Next Week

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Apple Logo on a Glass Window
Apple Logo on a Glass Window

It is being reported that Apple is planning to unveil at least five new products before and after its upcoming “Apple Experience” event.

The special event is scheduled to take place on March 4.

Apple Reportedly Plans to Unveil New Products

According to Bloomberg’s Mark Gurman, the new products that may be unveiled next week could be any of the following:

  • A18 iPad
  • iPhone 17e
  • M4 iPad Air
  • M5 MacBook Air
  • M5 Max/Ultra Mac Studio
  • M5 Pro/Max MacBook Pro
  • New low-cost MacBook
  • Studio Display 2

9to5Mac notes that Gurman considers the new low-cost MacBook to be a “very likely” possibility as the rumored color options of the device have been included in the official invite graphic for the event.

According to MacRumors, the announcements will reportedly be made starting March 2 until March 4, the day of “Apple Experience.”

March 4 ‘Apple Experience’ Event

The “Apple Experience” event will be held at 9 a.m. ET. Select content creators and journalists in New York, London, and Shanghai have been invited for the event.

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It is expected that the attendees will have a hands-on experience of whatever products will be announced next week.

In addition to the devices listed above, it is also rumored that Apple may new software and chips.

Originally published on Tech Times

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New commercial units approved at Cheshire Oaks

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Twelve units designed for office, research and industrial uses

Artist impression of how the units will be arranged, image from planning documents by KPP Architects.

Artist’s impression of how the Lloyd Drive units will be arranged (Image: KPP Architects)

New commercial units are set to be built at Cheshire Oaks Business Park after plans were given the green light.

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Cheshire West and Chester Council planners have rubber-stamped an application to construct 12 units along with parking and landscaping at Lloyd Drive in Ellesmere Port.

The application from Asteer Planning said the two-storey units are designed with flexibility in mind, so they can be used by a variety of different businesses as offices or for industrial and research purposes.

A planning officer’s report, said: “The proposed new buildings are designed to be functional modern units of accommodation that can flex between uses, but their overall appearance is appropriate for this area; their visual appearance, including the style of fenestration along the principal elevations, and their finishing materials would be as similar as possible to the existing units in operation in and around the business area.”

The land’s planning history is complex having previously been earmarked for a care home which was never built, but the land was divided up with a different care home scheme currently under construction nearby. The site is within the designated business park and it has residential properties to the north – Shetland Drive – and the west – Islay Close and Lewis Close.

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The officer’s report added: “the Council’s environmental protection unit has confirmed that the potential end uses here, which may include research and development and industrial processes, can be undertaken without detriment to residential amenity, subject to conditions.”

The report said control over artificial lighting and the risk of ‘undue levels of light pollution’ could be controlled by ensuring the applicant adheres to its submitted lighting plan.

Recommending approval, the report concluded: “The proposed development would be of economic benefit, creating new employment units that can be adapted to the changing needs of the end user.”

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Trump Organization Signs Agreement for a 91-storey Trump Tower on the Gold Coast

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Whistleblower says intel chief hid call with foreign power

The Trump Organization and an Australian developed have signed an agreement to build what some reports have called “Australia’s tallest building.”

The Trump Tower will reportedly be a 91-storey building located in Surfers Paradise.

Trump Tower to Rise on the Gold Coast

According to a report by ABC News, Altus chief executive David Young posted a statement online, sharing that the agreement was signed on February 14.

“At 340 metres in height, and 91 storeys, it will outstretch the Australia 108 building in Melbourne by 15 metres and leave every other Australian resort property in its wake when it comes to luxury,” Young said in the statement.

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“We are now deeply into a process of design, engineering, construction and fit-out that will cost a shade under $1.5 billion and bring the world’s pre-eminent hotel-resort brand to our shores,” he added.

The building will be located at 3 Trickett Street, Surfers Paradise. The Atlus CEO claims that will have 270 apartments whose prices will “likely to start at $5 million.”

A luxury resort, beach club, swimming pool, and restaurants will also be located in the first five floors of the building.

Eric Trump’s Statement on Australian Tower

Eric Trump, the son of US President Donald Trump, has also shared his thoughts on the project, according to news.com.au.

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“Trump International Hotel Tower, Gold Coast is our first official project in Australia and reflects our unwavering commitment to delivering world-class luxury experiences in iconic locations around the world,” the president’s son said in a statement.

“This development exemplifies the Trump brand’s dedication to quality, sophistication, and unmatched service and we are thrilled to bring this vision to the vibrant Gold Coast community,” he added.

As of press time, it has not been revealed when the construction of the tower is expected to be complete. Construction is expected to begin this year.

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Jefferies downgrades Deere stock rating on valuation concerns

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Jefferies downgrades Deere stock rating on valuation concerns

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'It's cheaper to ship gluten-free food from the UK'

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'It's cheaper to ship gluten-free food from the UK'

A Guernsey mum is calling for cheaper and a greater choice of gluten-free foods for her family.

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Kelly's law to be enacted after fatal hit-run exposed anomaly

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Legal loophole to close for dangerous drivers

Changes in legislation will be introduced to parliament tomorrow, which will give police and the courts the power to ban someone driving until the serious matters are dealt with by the court.

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Saudi Aramco sells first Jafurah condensate cargoes to US firms, India, sources say

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Saudi Aramco sells first Jafurah condensate cargoes to US firms, India, sources say


Saudi Aramco sells first Jafurah condensate cargoes to US firms, India, sources say

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Opinion: Red meat margins to remain tight

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Opinion: Red meat margins to remain tight

OPINION: Retail prices for beef, lamb and pork are up, but the shift at saleyards has been even more pronounced.

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GDI Property H1 2026 slides: FFO surges 29% on leasing momentum

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GDI Property H1 2026 slides: FFO surges 29% on leasing momentum


GDI Property H1 2026 slides: FFO surges 29% on leasing momentum

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Australia Issues Travel Warning Following Shootout That Killed Drug Cartel Boss

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Puerto Vallarta, Mexico
Puerto Vallarta, Mexico
Nicole Herrero / Unsplash

Australia is reminding its citizens to take extra care when travelling to Mexico following the shootout that killed drug cartel boss Nemesio “El Mencho” Oseguera Cervantes.

Australia Issues Travel Warning

According to the updated travel warning issued by Australia’s Smartraveller, the government is advising its citizens to stay alert and to follow instructions of local authorities in Mexico.

“Serious security incidents have been reported across the state of Jalisco, including in Guadalajara and Puerto Vallarta, following a federal law-enforcement operation against organised crime,” the travel warning states. “Authorities in Puerto Vallarta have issued a public advisory to shelter in place.”

“We continue to advise exercise a high degree of caution in Mexico overall due to the threat of violent crime,” the warning adds. “We also continue to advise reconsider your need to travel to the states of Chihuahua, Sinaloa, Guanajuato, Sonora, Colima and Chiapas.”

According to 9News, “El Mencho,” who was killed in the shootout that has led to chaos in the country, was a former police officer.

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He eventually became the leader of the Jalisco New Generation Cartel, or CJNG, which is known as one of the “most powerful and ruthless criminal organisations.”

Why There Are Security Concerns in Mexico Over Shootout

Per CNN’s coverage of the shootout, the death of “El Mencho” has sparked unrest throughout Mexico. Suspected gang members have clashed with authorities and are accused of torching buses and businesses.

The report notes that tourists are also stranded as some American airline companies have suspended flights.

For those who are travelling to and are already in Mexico, Australia’s Smartraveller has placed the following places in Level 3 due to high levels of crime and the volatile security situation:

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  • Chiapas State (except Palenque, if accessed by highway from Villahermosa, Tuxtla-Gutierrez, or by air, and San Cristobal de las Casas, if accessed by highway from Tuxtla-Gutierrez)
  • Chihuahua State (except Chihuahua City and the Copper Canyon rail route)
  • Colima State (except Manzanillo if accessed by air)
  • Guanajuato State (except Federal Highway 45D, and areas of the State to the North-East of Federal Highway 45D)
  • Guerrero State (except Ixtapa/Zihuatanejo if accessed by air)
  • Michoacán (except Federal Highway 15D if transiting the state, Morelia by land if accessed from Federal Highway 15D via Federal Highways 43 or 48D, and Lazaro Cardenas by air only)
  • North-western Durango, Sinaloa State (except Mazatlan and Los Mochis if accessed by air, and the Copper Canyon rail route)
  • Sonora State (except Hermosillo, Guaymas/San Carlos and Puerto Penasco, if accessed by air)
  • Tamaulipas State (except Tampico if accessed by air)
  • Zacatecas

Smartraveller encourages travellers to reconsider the need to travel to places under Level 3.

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