What is an exempt private company?

An Exempt Private Company (EPC) is a private company which has at most 20 shareholders. No corporation holds (directly or indirectly) any beneficial interest in the EPC's shares.

EPC with revenue not more than S$5 million for the financial year starting on or after 1 June 2004 is exempted from audit but instead, they are required to prepare unaudited accounts for purposes of AGMs and filing with ACRA.

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