Quote:
Originally Posted by MoeLanYong
I do not know what era some commentators are living in.
When your company makes $10m profits a year, you are just considered a SME. There are thousands of such SMEs in Sg. Over 10 years, the company will have accumulated $100m in its bank account.
I once visited my commercial landlord. He has 60 pages of commercial tenants paying rent to him. His young daughter flipped me to page 43 of his building I am in. And most singaporeans never even heard of his company name. And renting out his buildingd is just his sideline. I don't want to mention his core biz.
These are business owners. Not CEO types. The money in the bank is as good as their own. They decide what to do with it. In my landlord's case, an old man. What would any sane person want to do with $100m in the bank??
Cash out your risk. Pay your son $1m to work in your company. Let him learn how to take over the business and at the same time let him buy some properties.To these people what is there to squabble over 17% corp tax or 20% personal rate? Surely, you jest. I can go on and on about the obscene wealth of people I deal with but this is not the point.
Your company may go under. It's creditors can take whatever they want from your company. But what is yours is yours to keep. I thought Private Limited is a very basic concept??
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You read but don't understand
U study but not smart
U got decent IQ but u vote garbagement.
Obviously it's important to take out the money to spend n use. Not let creditors n bank n garbagement take legally
You don't seem to know how the world works.
U think put all money in bank account like ah soh like u meh
There're many ways to take out 100 million.
Paying your son ten million salary Is epitome of stupidity. Don't say pay few hundred k to transfer yr assets. Pay 100k also too much
Even if got 100 million in account, when creditors come, there'll b nothing left n only the gong will siphon money out by the stupid by the book ways u think. Knn.
BTW wad they do is legal but u don't know.
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Exchange points moe I mean frog in the well ma