Sole Proprietorship & Partnership

Want to start small?

Start your business as a Sole Proprietorship or Partnership, allowing you more flexibility and less accounting compliance.

Sole Proprietorship Setup

$238

  • Professional fees for the registration of Sole Proprietorship firm

  • ACRA registration fee (included)

Get Started

Partnership Setup

$338

  • Professional fees for the formation of Partnership firm

  • ACRA registration fee (included)

Get Started

Add On Services

Bank Account Opening Assistance

We will prepare the necessary paperwork for a smooth process. You can even open a bank account remotely without your presence required in Singapore at additional charge.

$250
For local banks

Company Stamp

Round self-inking stamp self-collected at our office. Delivery available with shipping fee.

$25
Shipping fee excluded

Company Registered Address

Every Singapore company is required by law to have a valid Singapore address as registered address of the company.

$200
Per annum

Mail Scanning Service

An add-on to our registered address service, access your every mail on our secure cloud storage via our mobile app.

$100
Per annum

CorpPass Registration

Required for online corporate transactions with the government (SingPass is also required and we will set it up for you if you do not have one).

$100
One time fee

FAQ

A sole proprietorship is a business owned by one person, who will have absolute say in its management and day-to-day operation of the business.

Compared with other business structures, a sole proprietorship is the easiest and least costly to set up. It is also easy to administer and manage, with all profits generated by the business going directly to the sole-proprietor. Unlike companies, it also benefits from less compliance requirements, and do not need to adhere to formalities such as annual reporting.

In sole proprietorship, the business and its owner are considered as a single legal entity. This means that the business owner is personally liable for the debts of the business and any other legal action taken against it. The owner can be sued personally and has unlimited liability. This put owner’s personal assets at risk.

A partnership is a business owned by a minimum of 2, and a maximum of 20 partners. The partners are owners of the business, and are equally involved in the management and day-to-day operation of the business.

Similar to sole proprietorship, a partnership is also easier and less costly to set up, administer and manage. Taxes are paid based on the partners’ individual income tax rates rather than the corporate tax rates. It also benefits from less compliance requirements compared to companies.

Similar to a sole proprietorship, a partnership and all its partners are regarded as a single legal entity. This means that partners have unlimited liability and are personally liable for the debts of the business and any legal action taken against it. In addition, partners are also personally liable for the actions of other partners in the business.

Have More Questions? Ask Sara Now

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