When you have decided to opt for company registration in Singapore, your next step should be to choose the right business entity to do so. This is not a decision that you can do in a hurry as there are a number of components to it. They are as follows:
You need to select the business structure that will fulfill the present and future needs of the company. A wrong choice can affect viability, credibility, branding, and growth of your business.
Individual business owners can start their business as a,
If you are a first-timer, finding a mentor or a registered filing agent will put you on the right path. They can advise you on the nature, advantages, disadvantages, and scope of these business structures.
The following are some pointers that can help you in zeroing on the best business structure to fulfill your business needs.
You need to,
A private limited company limits the liability of the shareholders to the capital they have invested in its shares. To register a Pte Ltd, you must apply to the Company Registrar for Singapore (ACRA).
A private limited company is the most accepted business structure for company registration in Singapore. You need at least one shareholder and ordinarily resident director. Pte Ltd,
Singapore allows 100% foreign ownership. It is easy to transfer ownership of shares in a private limited company. The investors, financial institutions, suppliers, & customers consider it more credible than a sole proprietorship or a partnership.
An LLP combines the advantages of a partnership and a company. Two to twenty individuals and/or corporate can come together to register it. It is most suitable for bringing together complimenting skill sets.
The sole proprietorship is the simplest form of business structure in Singapore. It is not a separate legal entity from its proprietor. In the case of a sole proprietorship:
If you want to have a go at company registration in Singapore, but are new to the Singapore market or new to the business, in general. Get in touch with us to discuss your problems. SBS Consulting is a reputable registered filing agent in Singapore. Call us on +65-6536 0036 or mail us at info@sbsgroup.com.sg for answers.
SBS Consulting is one of the leading corporate service providers in Singapore. It specializes in Company Incorporation, Accounting, Preparation of the director's report, Taxation, GST, Payroll, XBRL, IT software development and maintenance, and other value-added business services for residents and non-residents of Singapore.