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Singapore Business Registration

JJ & E can assist you to register a Business registration with the Accounting and Corporate Regulatory Authority (ACRA) as according to the Business Registration Act (Cap. 32). A business firm is a much simple form of setting up a business.

It can be either a sole proprietorship, a partnership or a Limited Liability Partnership. Business Registration normally can be registered within 20 minutes.

General Setup Requirements for a Sole Proprietorship or Partnership or Limited Liability Partnership are :-

  • Minimum one owner
  • A Singapore registered office address
  • For foreign individuals and companies - Need to appoint a locally resident manager who must be a Singapore citizens or Singapore Permanent residents (PRs)

And if you have already registered a Business for sole proprietorship / partnership / Limited Liability Partnership with ACRA, and now wish to convert it to a Private Limited company to enjoy Government benefits or tax exemption, we can also assist you to do a conversion or switch.

 Singapore Business Registration


 

Sole Proprietor (self-employed)

  • A Business firm owned by one company or an individual who is Singapore Citizen or Permanent Resident running a business on his/her own behalf.
  • All the profits generated by the business will belong to the sole-proprietor.
  • Pay Personal income tax on the profits generated by the business.
  • Required to contribute to CPF Medisave (Individual rate between 6-8%).
  • The sole proprietor has absolute say in the running of the business firm.
  • For foreign individuals and companies - Need to appoint a locally resident manager who must be a Singapore citizens or Singapore Permanent residents (PRs.)
  • It has unlimited liability, where the sole proprietor / owner has to bear all debts and losses if there is any due to the business.
  • Required a Singapore registered office address.
  • Not advisable if business nature has high risk or liability.
  • Unable to enjoy 3 years Government tax exemption of S$100,000 taxable income tax as given to Pte Ltd Company.

 


 

Partnership

  • Consists of more than one person.
  • May have between two and twenty partners.
  • All partners have equal rights in the management of the partnership.
  • Unlimited liability where 
  • Pay Personal income tax on the profits generated by the business.
  • Required to contribute to CPF Medisave (Individual rate between 6-8%).
  • For foreign individuals and companies - Need to appoint a locally resident manager who must be a Singapore citizens or Singapore Permanent residents (PRs).
  • Required a Singapore registered office address.

 


 

Limited Liability Partnership

  • Has the flexibility of a partnership, with the benefit of limited liability (partners are not liable for the wrong of other partners).
  • Minimum of 2 members.
  • Each member’s personal income is derived from profits and are taxed at personal income tax rates.
  • It offers the ease and flexibility of operating a partnership, while retaining a legal identity separate from its partners.
  • This type of business entity is ideal for lawyers, architects, accountants, and other professional firms. 
  • For foreign individuals and companies - Need to appoint a locally resident manager who must be a Singapore citizens or Singapore Permanent residents (PRs).
  • Required a Singapore registered office address.

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Singapore Business Registration