Business Incorporation
Start & Register your Sole Proprietorship
You've gone into business for yourself. But that doesn't mean you're all alone.
One place to start, build, and scale an your business.
What are the benefits of starting a Sole Proprietorship?
Full control of your business
As the sole owner of the firm, you will have complete control of all its operations including decision making. That is, you do not have to consult third parties before implementing changes unless you deem it necessary.
No profit sharing
Since you are the sole owner of the company, there are no shareholders, all profits or income accrued is yours.
Least compliance requirements
Once you register as a sole proprietor, you only need to renew your membership annually, and you are not obligated to file tax returns every year.
Ease of termination
Since you are the sole decision maker in the business, terminating it is easy, less time consuming and inexpensive as compared to private and public companies that have shareholders and directors.
Set up & Register a Sole Proprietorship @ $350
Inclusive of all registration fees. No Surprises.
- Name check and reservation
- Preparation of registration forms
- Our Professional fees inclusive of ACRA fees
- E-Certificate of registration
- Resolution to open a bank account
A sole proprietorship is simple to start, but that doesn't mean you should let your guard down. A little preparation goes a long way.
In a nutshell
What is a Sole Proprietorship?
A sole proprietorship is a business vehicle that is owned by one person or company. The business structure is easy to set up and is suitable for low-risk service providers such as copywriters, designers and small retailers.
Sole proprietorships need not audit their accounts or file annual returns with ACRA. Instead, profits are taxed at personal income tax rates as the sole proprietorship is not considered a legal entity, thus giving the business owner exclusive use of his business profits. This business type is also ease to close.
Who can start a Sole Proprietorship?
Any Singaporean citizen, Permanent Resident (PR) or EntrePass holder who is 18 years old and above is allowed to register for a sole proprietorship.
What is the advantage of a Sole Proprietorship?
The main reason, and advantage entrepreneurs start a Sole Proprietorship instead of a Private Limited Company, or a Limited Liability Partnership (LLP) would be because of the simplicity of registering a Sole Proprietorship.
Since it primarily involves only a sole owner, it is also the least expensive business entity. Unlike the other entities, aside from the usual operating costs of the business, there are no costs associated with compliance, expect for the renewal of the Sole Proprietorship business.
In the event the business needs to be shut down, terminating and shutting down the business is easy and simple as well.
Every Sole Proprietorship Registration service includes
- Name check and reservation
- Preparation of registration forms
- Our Professional fees inclusive of ACRA fees
- E-Certificate of registration
- Resolution to open a bank account
Appoint us in
3 simple steps
Answer some basic questions
Send us an enquiry and complete our simple registration form, or call us directly and one of our experts will walk you through the process.
We take care of the paperwork
Our incorporation experts will set up the required documents needed to get your business up and running quickly and accurately.
Congratulations!
All done! Straight forward, and fast processing. By working with Leftright Corporate, we work fast to get your business setup as quickly and as accurately as possible.
Other Business Entities
A private limited company is the most advanced, flexible, and scalable type of business form in Singapore. It’s also the most preferred type of Singapore business entity for serious entrepreneurs.
A LLP is primarily meant for carrying a profession (e.g. accountants, law firms, architects, etc.) where two or more professionals would like to build a joint practice in a common field, and is not suited for businesses that carry a trade.
Frequently Asked Questions
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