Whether it’s a Company incorporation, Partnership or simply a Sole proprietorship, we make it simple, quick and easy for you. Our packages are complete registrations, no hidden costs, no surprises. You don’t require any extras to start running your business.
Broadly there are 3 forms of structures to conduct business in Singapore – Private limited, Partnerships and Sole Proprietorships.
Private Limited Companies
A private limited company is a legal entity and can sue or be sued in its own name and can own and hold any property. The owners of the company are called shareholders and there must be a minimum of one share owned by one shareholder.
Advantages of a private limited company is due to its limited liabilities to the value of the company’s shares. Personal assets of its shareholders are protected. For new companies, the first $100,000 of taxable income is also exempted for the first three years. The ability to issue shares to raise funds is also one positive advantage and the ability to be listed in future.
However the downside is the compliance and administrative tasks that a private limited company must adhere to in order to comply.
A sole proprietorship can be owned by one person and one company only. A sole proprietorship is not a legal entity and hence cannot sue or be sued in its own name and it cannot own or hold any property and profits are taxed at personal tax rates.
A sole proprietorship is easy to set up and administer and are perfect for small businesses in Singapore. No audits are also required and compliance is set to a minimum. However a sole proprietor is liable for all the debts and losses personally and such a form should be avoided if the business involves a huge risk. There is also no tax exemption for the first 3 years and there is the lack of ability to raise funds by selling shares or securing loans with personal assets.
A LLP is a legal entity and can sue or be sued in its own name and can own or hold any property. A minimum of 2 partners is required and they can be individuals or companies. Individual partners will be taxed at personal tax rates and a corporate partner at corporate tax rates.
The liabilities of a LLP partnership is that the LLP partners are not liable for the misdoings of other partners. There is also perpetual succession. However individual partners are personally liable for the debts and losses resulting from their own actions.
Compared with private limited companies, LLP also do not enjoy the tax exemptions for the first 3 years.
How to register
Up and ready in no time. Once you have filled up the form, we will do a search on your company name availability. We will then need to make an appointment with you to come down in person to our office to finanlise the incorporation. And you’re done to start running your business! It’s that simple.
Our fees covers all you need to get you started, there are no hidden charges.
- Name application and incorporation
- ACRA registration fee
- Share certificates
- Common seal
- Minute book and statutory registers
- Memorandum & Articles of Association
- Company profile