Business Registration in Singapore
We can assist you to register a Business registration with the Accounting and Corporate Regulatory Authority (ACRA) as according to the Business Registration Act (Cap. 32).
A business firm is a much simple form of setting up a business, as it required low setup cost, has low maintenance fee, It can be either a sole proprietorship or a partnership. Registration is normally done within 30 minutes.
And if you have already registered a Business for sole proprietorship / partnership with ACRA and now wish to convert it to a Private Limited company. We can also assist you to do a conversion.
Sole Proprietor (self-employed)
| – | A Business firm owned by one company or an individual who is Singapore Citizen or Permanent |
| Resident running a business on his/her own behalf | |
| – | All the profits generated by the business will belong to the sole-proprietor |
| – | Pay Personal income tax on the profits generated by the business |
| – | Required to contribute to CPF Medisave (Individual rate between 6-8%) |
| – | The sole proprietor has absolute say in the running of the business firm |
Partnership
– Consists of more than one person
– May have between two and twenty partners
– All partners have equal rights in the management of the partnership
– Unlimited liability
– Foreigner only can register if there is a Singapore local resident manager
– Pay Personal income tax on the profits generated by the business
– Required to contribute to CPF Medisave (Individual rate between 6-8%)
Limited Liability Partnership
– Has the flexibility of a partnership, with the benefit of limited liability
– Minimum of 2 members
– Each member’s personal income is derived from profits and are taxed at personal income tax rates
– Compulsory to appoint a local manager
Striking Off / Closing Down Of Company
A company may apply to Accounting and Corporate Regulatory Authority (ACRA) to strike its name off the Register pursuant to Section 344 of the Companies Act.
ACRA may approve the application if it has reasonable cause to believe that the company is not carrying on business and the company is able to satisfy the criteria for striking off e.g.:- the company must not have any assets and liabilities, no outstanding penalties with any government authorities and etc.
We are professional trained and have many years of experience in handling the striking off of companies, all our clients are assure of a smooth closing down of their company.
Our Service includes:
| – | We can assist in striking off or closing down an inactive company with the Accounting and |
| Corporate Regulatory Authority (ACRA) | |
| – | Assist your company on the tax clearance with the Tax Department, Inland Revenue Authority of |
| Singapore (IRAS) |