Company Formation Services
We provide a comprehensive range of professional services related to business formation. Our full line of company formation services is listed below.
- Incorporating of a private company limited by shares or guarantee in Singapore
- Registration of sole proprietorship in Singapore
- Registration of partnership in Singapore
- Foreign Company Setup
Different types of business entities
Private Limited Companies
A company is a business entity registered under the Companies Act, Chapter 50. It has a legal personality i.e. it has rights to own properties, has perpetual succession and can use
A sole-proprietorship is a business owned by one person or one company. There are no partners. The sole-proprietor has absolute say in the running of the business.
Limited Liability Partnership
A Limited Liability Partnership (LLP) is a vehicle for doing business in Singapore. An LLP gives owners the flexibility of operating as a partnership while having a separate legal identity
Foreign Company Setup
Foreign companies wishing to setup a presence in Singapore can choose to register a Branch Office, Subsidiary Company, or a Representative Office.
|Companies||Sole Proprietorship||Partnership||Limited Liability Partnerships|
|Legal Status||A legal person (can enter into contracts, hold property, sue and be sued and exist irrespective of change of shareholders)||Not a legal person||Not a legal person||A legal person (can enter into contracts, hold property, sue and be sued and exist irrespective of change of partners)|
|Number of owners/ shareholders||Minimum – 1 director and 1 shareholder||1||Minimum – 2 Maximum – 20 (except for professional firm)||Minimum – 2 Maximum – no maximum number of partners|
|Liability of owner/ shareholder||Limited – the shareholder is not liable for the debts of the company||Sole proprietor has unlimited liabilities||Partners have unlimited liabilities||Not personally liable for the conduct of other partners or transactions or liabilities of the LLP unless is for his own wrongful acts or negligence|
|Suitable For||Businesses with projected growth, which may require additional funding for expansion||Individual with low risk||Professional firms such as accountancy, law and architecture||Professional firms such as accountancy, law and architecture|
|Advantages||Tax exemptions – first S$100,000 of net profit each year is tax-free and the next S$200,000 taxed at 8.5 percent for the first three years||Low cost||Low cost||Low cost setup with limited liability protection|
|Disadvantages||Compliance obligations such as financial reports, AGMs, etc||Personal assets not protected||Taxed at the individual level and requires paying a personal income tax rate that is higher than the corporate tax rate||Taxed at the individual level and requires paying a personal income tax rate that is higher than the corporate tax rate|