11 Sept - Company Incorporation Options for the Singapore Residents - WC SGInc – Shri
Ref Link: http://www.sbsgroup.com.sg/singapore-company-registration-for-singapore-residents/
Company Incorporation Options for the Singapore Residents
Singapore has become known as a great business destination for the entrepreneurs and professionals from all over the world. As a financial hub, it has also attracted global investors. The Singapore authorities have made it easier for these individuals to open company in Singapore.
The locals, Singaporean citizens and the permanent residents, as well as the work pass holders, have also benefited from the easy Singapore incorporation process. They have 3 options when it comes to setup company in Singapore. The …show more content…
The law has blessed with the perpetual existence until legally dismantled. It can buy property and real estate in its own name and that is why raising capital is easier for a …show more content…
It can also distribute the tax-free dividend to its shareholders. All of these factors make it the most used business structure in Singapore.
Sole Proprietorship
A Sole proprietorship is a business structure that allows a Singapore resident to own his or her business completely. The ownership of the assets used for the business activities remains with the enterprising owner.
A Sole proprietorship is a great business structure for an entrepreneur to learn the business. Being the sole owner of the business makes the individual a decision-making authority. However, a Sole proprietorship is not a separate legal entity from its owner. This makes raising capital for the expansion of the firm difficult. It totally depends on the solidity of the character of the owner.
The responsibility towards the losses and the debts of the Sole proprietorship fully rests upon the owner. The income of the Sole proprietorship is considered as the income of the business owner and tax applied to it is not the corporate income tax, but the personal income tax that ranges from 0% - 20%.
Limited Liability
Ref Link: http://www.sbsgroup.com.sg/singapore-company-registration-for-singapore-residents/
Company Incorporation Options for the Singapore Residents
Singapore has become known as a great business destination for the entrepreneurs and professionals from all over the world. As a financial hub, it has also attracted global investors. The Singapore authorities have made it easier for these individuals to open company in Singapore.
The locals, Singaporean citizens and the permanent residents, as well as the work pass holders, have also benefited from the easy Singapore incorporation process. They have 3 options when it comes to setup company in Singapore. The …show more content…
The law has blessed with the perpetual existence until legally dismantled. It can buy property and real estate in its own name and that is why raising capital is easier for a …show more content…
It can also distribute the tax-free dividend to its shareholders. All of these factors make it the most used business structure in Singapore.
Sole Proprietorship
A Sole proprietorship is a business structure that allows a Singapore resident to own his or her business completely. The ownership of the assets used for the business activities remains with the enterprising owner.
A Sole proprietorship is a great business structure for an entrepreneur to learn the business. Being the sole owner of the business makes the individual a decision-making authority. However, a Sole proprietorship is not a separate legal entity from its owner. This makes raising capital for the expansion of the firm difficult. It totally depends on the solidity of the character of the owner.
The responsibility towards the losses and the debts of the Sole proprietorship fully rests upon the owner. The income of the Sole proprietorship is considered as the income of the business owner and tax applied to it is not the corporate income tax, but the personal income tax that ranges from 0% - 20%.
Limited Liability