JJ & E can assist you on your 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 Sole Proprietorship, Partnership or Limited Liability Partnership. Business Registration normally can be registered within 20 minutes.

General Setup Requirements for a Sole Proprietorship / Partnership / 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.

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.
• 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

• A partnership is a business firm consists of more than one person.
• May have between two and twenty partners.
• All partners have equal rights in the management of the partnership.
• It has unlimited liability, where the sole proprietor/owner has to bear all debts and losses if there is any due to the business.
• Pay Personal income tax on the profits generated by the business.
• Required to contribute to CPF Medisave (Individual rate between 6-8%).
• 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. No maximum limit.
• 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.
  
• 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.