Blog
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Types of Entities in Singapore
There are several types of entities one can register to start business operations in Singapore. Naturally, the requirements and limitations of these entities differ accordingly and each has their defined set of capabilities. These are the different types of entities: Sole Proprietorship Partnerships Limited
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Sole Proprietorship
A sole-proprietorship is not a separate legal entity and is directly associated with the owner. The owner is personally entitled and liable to all profits, losses, debts and obligations incurred by the business. It is the easiest business entity to set
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Partnership
A partnership is a business entity that consists of at least 2 people. The people included in the partnership are called partners, and they are personally liable for debts incurred by the business. The governance of duties, profit and losses
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Local Companies
A company entity is one of the most common business types in Singapore. The company and owners (of the company) are regarded as separate entities. The main types of companies are: Local Private Company Private Limited Companies (Pte Ltd) are made up of
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Limited Partnership (LLP)
A Limited Liability Partnership (LLP) is type of business entity that is commonly used by lawyers, accountants and other professional services firms. Generally speaking, it is a good combination between a partnership and a private limited company, as it does
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What Are The Responsibilities of a Corporate Secretary of a Company in Singapore?
The Accounting and Corporate Regulatory Authority (ACRA) determines the roles and responsibilities of a company secretary. There are many duties and responsibilities to be undertaken by a corporate secretary of a company in Singapore such as: Administrative role The company secretary handles administrative
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Benefits of Registering a Company in Singapore
There are many benefits to registering a company in Singapore and we would not want to flood you with content that you can already find on other articles. Hence here is an article that summarizes the advantages of incorporating a
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Tax Rate for Different Business Entity Types in Singapore
There are several reasons why Singapore is ideal for setting up business operations here. One of the more prominent benefits that are not usually available in other countries is the tax rate. There are no tax on overseas income, no capital
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The Best Business Structure for your Business Operation
Now that you know the different types of business entities available for aspiring business owners to conduct their business operations, let us understand which is the most ideal for your business goals. Although it may seem as a frivolous matter to
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What Is a CorpPass and How Do I Get It?
A CorpPass is short form of Singapore Corporate Access. It is a digital identity issued to Singaporean businesses that allows access and ease of operations with governmental digital services like the Inland Revenue Authority of Singapore (IRAS), Ministry of Manpower
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How Long Does It Take To Register a Company in Singapore?
It is relatively straightforward and quick to set up a company in Singapore, making it one of the most preferred options of entrepreneurs and small and medium sized business owners. The company registration process is fully computerised and is overseen
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How Much Does It Cost To Register a Company in Singapore?
It is relatively inexpensive to set up a company in Singapore, making it one of the most preferred options of entrepreneurs and small and medium sized business owners. The company registration process is fully computerised and is overseen by the
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Requirements to Register a Company in Singapore
The requirements to register a company in Singapore are straightforward: Company name: ACRA Approved company name. Local director: You need to appoint at least one Singapore resident director in your company. Shareholders: You need to have at least one shareholder in your company,
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What Documents Are Required to Register a Company in Singapore?
A private limited liability company is the most popular type of business entity that entrepreneurs, seasoned business operators and foreign companies use to conduct business operations here. A private limited company in Singapore is a separate legal entity from its
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What Information Do I Need to Prepare to Register A Company in Singapore?
The Accounting & Corporate Regulatory Authority (ACRA) acts as the Company Registrar and it oversees the registration process of companies in Singapore. The process to register a company in Singapore is relatively straightforward; these information is required by ACRA: Company name
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Can a Foreigner Be a Corporate Secretary of a Company in Singapore?
In short, a foreigner cannot be a corporate secretary of a company in Singapore. Corporate secretaries of companies based in Singapore are required to be legal residents of Singapore. A legal resident of Singapore is an individual who is either a
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Can a Foreigner Own a Company in Singapore?
A foreign national individual can own a company in Singapore, and as a matter of fact, he or she can own 100% of the company in its entirety. This is one of the reasons why registering a company in Singapore