Singapore Proprietorship Registration

Proprietorship Registration is as easy to setup Business in Singapore, since the whole authority is under the control of a single owner with no threats. The sole owner takes the full responsibility of business assets and liabilities. All Singapore citizens, PR and holders of EP, EntrePass and Dependent pass are eligible to register as a sole proprietor.

Features of Proprietorship:

  • It cannot be constituted as a separate legal entity, in Singapore.
  • The owner of the proprietorship, is the sole responsibility for its profit and loss.
  • It cannot be registered as a business firm, since it is not a legal entity.
  • It is both easy to register and to wind-up the proprietorship.
  • Profit taxation is done, at the rate of personal income tax.
  • Renewal is done, annually with ACRA.

Requirements for Proprietorship

  • Owner can be, either a person or the company.
  • Owner should be minimum 18 years old, who should be the Singapore Citizen or the Holder of PR, EP or Dependent Pass.
  • Owner should have the registered business address. Residential address can be used as the business address by getting appropriate approval from the HDB.
  • A local manager should be appointed, for discharging the duties of the sole proprietorship, if the owner of the proprietorship is a foreigner of a foreign company.

Required Documents for Registration

  • Filled in Application form.
  • Name of the Business Entity.
  • Identification proof copies of the Business Owner’s like Passport, NRIC, Residential address.
  • Registered Business Address.
  • Brief Description of the activities involved in Business.
 
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