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by terra_fmsg » Mon, 18 Feb 2013 9:04 pm
Hi Group Members,
First of all apologies if I am asking question that has been answered before, I tried searching in archives and found similar questions but not exactly same as my case so posting it here.
I am SPR (since 2011) living in SG with my husband and kids, I never worked in Singapore before.
I am qualified trader (worked in IBanks before in HK). I am thinking of starting a day trading sole proprietorship company, now my questions are
1) My trading activity will not be day trading exactly but still I will do frequent trades, something like few hundred trades a month to begin with, I heard that for capital gains there is no tax in Singapore but I don't think my trading pattern will be treated as investment/ capital gains so I plan to register a business and do it in legal way i.e pay taxes etc.., Is my understanding correct ?
2) We currently rent an apartment, can I give this address as my business address when a I register a company ? Do I need to get permission from owner of our apartment ?
3) I googled for bookkeeping/ accounting companies and contacted couple of them, they all seem to be willing to do it for my potential business, but the moment I explain my business as exchange listed futures trading, they make very strange faces as if I am trying to do a scam. I am sure that there are lot of traders doing trading for living in Singapore and hence I should not get strange looks from accounting guys, Does anyone in group has any recommendation for reliable accounting guys for this purpose.
4) Since I never worked in Singapore, I don't have CPF/Medisave, Is it required to register sole proprietorship company here ?
Thanks for your patience to read and hoping to get help from this forum.
TF