Common types of business structure include Private Limited Company, Sole Proprietorships , Partnerships, Limited Liability Partnership (LLP), and Limited Partnership (LP). You may wish to refer to the table summary of the differences between the various entity types.
Most companies in Singapore are registered as Private Limited Companies, which is a separate legal entity and shareholders are liable for the company’s debts limited to the amount of share capital subscribed.
Any person who wants to incorporate a local company may engage us, the ACRA authorized professional firm, for assistance in the filing of application for incorporation.
Our package for company incorporation includes:
- Company name search & registration
- Company Memorandum and Articles of Association
- Company Business Profile
- ACRA E-notice of incorporation
- 12 months standard Corporate Secretary (add-on fee applied if foreigner or Corporate Shareholder involved)
- Selected Bank Account Opening Assistance
A business firm can be either a sole proprietorship or a partnership.
A sole-proprietorship is a business firm with only one owner. It is the simplest and most flexible business structure. However, the owner is personally accountable for debts and losses.
A partnership is a business firm owned by more than one individual or company. In Singapore, partnerships cannot have more than 20 owners. A partnership is not a legal entity. Partners are personally accountable for business debts and losses. Profits form part of each partner’s personal income and are taxed at personal income tax rates.
Our services also include:
- Updating changes in business particulars
- Renewal of business registration
- Notice of Error
A Limited Liability Partnership (LLP) is a new vehicle for doing business in Singapore. An LLP gives owners the flexibility of operating as a partnership while having a separate legal identity like a private limited company.
The partners of the LLP will not be held personally liable for any business debts incurred by the LLP.
Our services include:
- Registration of a new LLP
- Converting of existing partnership or company to LLP
- Updating changes in particulars of LLP
- Filing of annual declaration
- Notice of Error
- Striking off LLP