FAQs

All your Questions answered in one place

Some of your Questions:

General Enquiries (4)

What is the business structures allowed in Singapore?
1) Sole Proprietorship – The business is run by the individual itself without any partner and the profit or loss will incurred on him. The owner personally owns all assets and liabilities of the business. There is no protection of personal assets from business risks and liabilities.

2) Partnership – The business is run by the partners (owners) or more than one person and all the profit and loss is also divided by the partners. Generally there are two to twenty partners in the partnership business. If there are more than twenty partners, then the business has to be registered as a company.

3) Company – It is a business entity registered under the Companies Act, Chapter 50. As a legal personality, it has rights to own properties, has perpetual succession and can sue or be sued in its own name. It usually has the words 'Pte Ltd' or 'Ltd' as part of its name.

4) Limited Liability Partnership – Known as LLP, it gives owners the flexibility of operating as a partnership while having a separate legal identity like a private limited company. LLP has perpetual succession, thus any change in the partners of an LLP will not affect its existence, rights or liabilities.

5) Limited Partnership - The business is a partnership consisting of a minimum of two partners, with at least one general partner and at least one limited partner. An LP does not have a separate legal entity from the partners. An individual or a corporation may be a general partner or a limited partner. Appointing a local manager is mandatory if all the general partners are residing outside Singapore.
Which business structures to choose?
Are foreigners allowed to set up a Company in Singapore?
What are the requirements for a non-resident who wants to work in Singapore?

For Incorporation/ Secretarial/ accounting/ taxation requirements, click here

Audit & Assurance (7)

What is audit?
When to appoint Auditor?
When to audit accounts?
Why do we need to audit financial accounts?
What are the benefits in auditing accounts?
Who are exempted in audit requirements?
What is a Financial Statement?