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Local Company Registration in Singapore

Local-Company-Registration

Local company registration in Singapore is done in three ways. We help you to pick the one that is best for you and then incorporate the business for you. It will be helpful for you if you read all the information given, even in the linked pages thoroughly.

Singapore company registration for its residents need not be a hassle anymore. Simply contact us, the best of all incorporation services in Singapore, for a fuss free registration which gives you a peace of mind and time to do more important activities.

Singapore Accounts is the most experienced service provider in incorporation of company in Singapore. For a start, just check out the info about the different companies that we can start for you. Our Singapore Company Incorporation Packages are easy on your pockets and are well appreciate by our existing clients.

Different Types of Business Structures

Different types of businesses require different company setups. Before starting a company in Singapore or incorporating a company in Singapore, learn which type of business structure will work most efficiently for your ideas.

Your choice in business structure can affect the taxation, incentives, and rebates applicable to your business. It can also determine the image of your company in the minds of your associates such as suppliers, creditors and most importantly your customers. Your choice also affects the paperwork needed to form a Singapore company of your choice and the fees that you pay for it. The type of business structure will also affect your capability to expand your growing business and make it really big.

Most of the investors incorporating a company in Singapore prefer this type of company. Its shareholders are not more than 50. Shareholders can be individuals as well as corporate entities. A Private Limited Company is preferred because:

  1. It is a separate legal entity.
  2. Its shareholders have limited liability.
  3. Its existence continues even if members discontinue their membership.
  4. It is easy to raise capital for this type of company by bringing in more shareholders or by distributing new shares to the existing shareholders.
  5. Transfer of ownership can be done simply by selling company shares; fully or partially.
  6. Singapore government offers tax benefits and rebates for the private limited companies. For the first 3 years, taxable income of new companies up to S$100,000 is taxed at the rate of 0%. Later on, taxable income up to S$300,000 is taxed at 8.5% and that above S$300,000 is charged at 17%.

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Limited liability partnership is a very powerful business structure. It allows forming a partnership, at least 2 partners, with the benefits of a private limited company. LLC is most suitable for carrying out a profession in partnership, but, it is not suitable for most of the trades. Unlike, traditional partnership companies, a partner in LLC has limited responsibility which is mostly related to the part he/she plays in it

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This is the simplest business structure one can choose to form a Singapore business firm. However, it is not a separate legal entity and the owner is responsible for the losses of the business. The court can use his personals assets to pay for the debts of his business. This is a risk which some of the sole proprietors come to know about too late.

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If you want to incorporate a Singapore company or if you want to outsource your business functions, contact Singapore Accounts at +65-6536 0036 or email us at info@accountingservice.com.sg

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