Business Setup for Sole Proprietors and Partnerships
A sole proprietorship or ordinary partnership can offer a simpler business structure, but it is not a separate legal entity from its owner or partners. Personal liability is an important consideration when choosing a structure.
Registration renewal is only one ongoing obligation. Depending on the business, accounting records, tax returns, MediSave, GST, employment, licensing and other requirements may also apply. Partnership income is taxed at the applicable personal or corporate rate for each partner.
BTA can review the proposed activities, ownership and reporting needs before helping you choose and register a suitable structure.
Registration requirements
- Eligible owners or partners; individuals must generally be at least 18.
- An approved business name and registered business address.
- Details of the business activities and ownership.
- A resident authorised representative where the applicable residency rules require one.
| Setting up of business | Price (SGD$) |
|---|---|
| 1 Owner / 2 Partners | $288 |
| Additional Local Partner | $30/pax |
| Additional Foreign Partner | $50/pax |
- Minimum 2 Proposed Business Name (In Order of Preference)
- Courier address (For billing and courier of Business documents)
- Description of Business Principal Activity (Maximum 2)
- Colored image of Owner's NRIC (Front & Back), contact number and email address
- Profit Allocations for Partners
- Colored image of Authorised Representative’s NRIC (Front & Back), contact number and email address
- Minimum 2 Proposed Business Name (In Order of Preference)
- Courier address (For billing and courier of Business documents)
- Description of Business Principal Activity (Maximum 2)
- Profit Allocations for Partners
- Colored image of Foreign Owners’ ID (Front & Back), contact number, overseas residential address and email
- Proof of Address (E.g Latest Telephone / Utility Bill) of all foreign Owners
