Private Limited Company
Private Limited Company Registration in Singapore Registering a private limited company in Singapore unlocks unmatched opportunities for entrepreneurs. The nation boasts a top-tier business ecosystem. Its efficient rules and transparent systems attract investors globally. Entrepreneurs benefit from a 17% corporate tax rate and valuable government perks. Strategically located in Southeast Asia, Singapore connects businesses to regional and global markets. It ensures strong legal protections and enforces strict anti-corruption laws. These factors make Singapore a trusted choice for investors. Business registration here remains fast, smooth, and hassle-free for all entrepreneurs. What is a Private Limited Company? A private limited company exists as a distinct legal entity from its owners. It owns assets, files lawsuits, and faces legal cases under its name. Shareholders carry limited liability, safeguarding their personal assets from company debts. This structure enhances business credibility, helping owners raise funds and secure contracts. It guarantees perpetual succession, ensuring the business outlives ownership changes. Entrepreneurs favor it for steady growth and long-term success.
Read moreLimited Liability Partnership
Business set-up for Limited Liability Partnership A Limited Liability Partnership (“LLP”) is a hybrid of “Partnership” and “Private Limited Company”. It is a type of business structure where 2 or more partners form an entity which has its own separate legal identity like a Private Limited Company. It has rights to hold property, sued or be sued under its own name and is typically adopted by professionals such as doctors, lawyers and architects. Partners in LLP have limited liability and will not be personally liable for the business debts incurred except for those arising from his own wrongful act or negligence. Similar to Sole Proprietor / Partnership, business profits will be taxed at partners’ personal income tax rate and is generally also harder to secure loans from financial institutions which is required for business expansion. Apart from the statutory requirement to keep the accounting records, LLP must also file an Annual Declaration of solvency to the ACRA which will be made available to the public. Minimum Requirements At least 2 Partners Partner must be at least 18 years of age Registered Address 1 Appointed Local Manager
Read moreSole-Proprietor/Partnership
Business set-up for sole-proprietor/partnership Business Introduction A Sole Proprietor / Partnership is the most simple business entity for entry level entrepreneurs in Singapore. It is easy to setup and owners do not have to worry about the ongoing statutory compliance from government bodies apart from the annual business license renewal. Given its leverage in low setup cost and maintenance fee compared to other business entities in Singapore, Sole Proprietor / Partnership has its significant disadvantages too. Some of the major concerns pertaining to these business structures are the unlimited liabilities which in some cases will lead to bankruptcy of the owners when they are unable to pay off the business debts. The main reason being so is that it is not considered a separate legal entity in Singapore and the owners are personally accountable for all the liabilities incurred during the course of the business. Thus, it’s not recommended for business with high credit risk nature. Minimum Requirements Owner/Partner must be at least 18 years of age Registered Address 1 Appointed Local Manager
Read more