For a Singapore resident to set up a business in Singapore is relatively simple. The first consideration is to decide on the right business entity that will meet your business needs. The most common three business entities available in Singapore are Sole Proprietorship, Limited Liability Partnership and Private Limited Company.

Rikvin can help you incorporate your company within an hour if all required information and documents are in place.

Option 1: Private Limited Company

Private Limited Company is the most popular business entity in Singapore. Unlike business entities such as a Sole Proprietorship and Limited Liability Partnership, it has a separate legal status from its shareholders and directors who have limited liabilities for the debts and losses of the company. It usually has the words ‘Pte Ltd’ or ‘Ltd’ as part of its name. In many European countries or the US, it is commonly known as a Corporation.

New start-up companies pay Zero tax on the first S$100,000 of chargeable income for the first three consecutive years. A further 50% exemption is given on the next S$200,000 of the chargeable income.

Option 2: Limited Liability Partnership

A Limited Liability Partnership (LLP) is a perfect blend of a partnership with private limited company setup. A LLP gives owners the flexibility of operating as a partnership while having a separate legal identity like a private limited company. This type is highly suitable for individuals engaged in professional services such as lawyers, architects, accountants and management consultants. Singapore citizens, residents, and employment pass holders can register a LLP. Foreign individuals and companies may also register a LLP but must appoint a local manager.

Option 3: Sole Proprietorship

A Sole Proprietorship is the simplest form of business entity with only one owner who is the decisive authority and responsible for all assets and liabilities belonging to the business. Citizens, residents, Employment Pass holders may register a sole proprietorship. Foreigner individuals and companies may also register a sole proprietorship but must appoint a Singapore resident manager.

Author Box:

Rikvin has been assisting clients from all over the globe in their Singapore immigration and company incorporation matters. We assist local and foreign entrepreneurs who want to incorporate a Singapore company. Our success rate is phenomenal, and all most all of our enterprise clients have entrusted us, with the routine management tasks such as book keeping and secretarial services and we continue to impress them beyond our promise. Rikvin has successfully helped foreign entrepreneurs with Singapore company incorporation.

Our phones are answered during business hours by specialists and not by an answering machine. We appreciate the value of your time and understand that a person cannot be replaced by technology. This is especially true when it comes to making important business decisions. If you are interested in learning more about Rikvin’s Services kindly email us at [email protected] or give us a call at +65 64838887.Fax : (65) 6438 2436