Singapore Expats

Registering a sole proprietor

Discuss your views about Singapore business & economy, current policies & issues, starting a business in Singapore.
Post Reply
User avatar
Jfcyl
Newbie
Newbie
Posts: 1
Joined: Mon, 07 Apr 2014 1:16 am

Registering a sole proprietor

Post by Jfcyl » Mon, 07 Apr 2014 1:25 am

Hello I am a Singaporean,
Am intending to register a business under sole proprietor.

These are the steps that I am going to do :

1) Register my business name under Sole Proprietor in the Bizfile Website : https://www.psi.gov.sg/NASApp/tmf/TMFSe ... E-LOGIN-1B#

Set Up Costs
Fees for approval of business name: S$15 per name.
Registration fees: S$50
Yearly renewal fees: S$20

2) After registering :
- Print your registration number on all letterheads, invoices, bills or other documents used for the purposes of the business.
- Keep your Medisave contributions up-to-date

what else do I have to take note?

User avatar
Strong Eagle
Moderator
Moderator
Posts: 11663
Joined: Sat, 10 Jul 2004 12:13 am
Answers: 10
Location: Off The Red Dot
Contact:

Post by Strong Eagle » Tue, 08 Apr 2014 1:26 am

What kind of business?

Jack1942
Newbie
Newbie
Posts: 2
Joined: Sun, 27 Apr 2014 11:56 pm

Post by Jack1942 » Mon, 28 Apr 2014 12:06 am

Hi there,

you probably need a company stamp to go with it. Further you need to consider what kind of business you are embarking upon. For example, a F&B business prob requires a food or alcohol license from NEA while a tuition center would required you to get approval from MOE.

User avatar
taxico
Director
Director
Posts: 3327
Joined: Sat, 10 May 2008 6:05 pm
Location: Existential dilemma!

Re: Registering a sole proprietor

Post by taxico » Thu, 01 May 2014 7:31 pm

Jfcyl wrote:Hello I am a Singaporean,
Am intending to register a business under sole proprietor.

These are the steps that I am going to do :

1) Register my business name under Sole Proprietor in the Bizfile Website : https://www.psi.gov.sg/NASApp/tmf/TMFSe ... E-LOGIN-1B#

Set Up Costs
Fees for approval of business name: S$15 per name.
Registration fees: S$50
Yearly renewal fees: S$20

2) After registering :
- Print your registration number on all letterheads, invoices, bills or other documents used for the purposes of the business.
- Keep your Medisave contributions up-to-date

what else do I have to take note?
if you are hiring: CPF contributions and other levies including SDL and another one (depending on your employee's ethnicity...).

a company stamp for an SP is not necessary IIRC - i have one SP and i just cancel out the word STAMP on documents and sign off with "sole-proprietor" under my signature...

make sure you know what your tax implications are so surfing onto IRAS.gov.sg is suggested.

http://licences.business.gov.sg will get you started on almost everything else your trade/profession needs.
Aut viam ad caelum inveniam aut faciam

OrchardWarrior
Newbie
Newbie
Posts: 8
Joined: Fri, 06 Sep 2013 8:17 am
Location: Singapore

Post by OrchardWarrior » Mon, 05 May 2014 12:23 am

how would this work for a non-Singaporean?

User avatar
Strong Eagle
Moderator
Moderator
Posts: 11663
Joined: Sat, 10 Jul 2004 12:13 am
Answers: 10
Location: Off The Red Dot
Contact:

Post by Strong Eagle » Mon, 05 May 2014 11:05 am

OrchardWarrior wrote:how would this work for a non-Singaporean?
How would what work? If you are a non Singaporean with a valid work pass, you can't set up a new business. If you have a DP, maybe you can set up a business. If you have a PR, you can definitely set up a business.

If you are a foreigner with no pass to live in Singapore, you're not going to start a SP.

Post Reply
  • Similar Topics
    Replies
    Views
    Last post

Return to “Business in Singapore”

Who is online

Users browsing this forum: No registered users and 0 guests