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Multi Trade company

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rcsg
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Multi Trade company

Post by rcsg » Sun, 02 Aug 2020 2:29 pm

Hi, I plan to register a company but wonder should it be under my own name or as Pte Ltd. Planning to trade clothe and also some household item, can it be under 1 kind of trading or multiple? Had tried to get consult from some firm but I need to first engaged the service before I decided. Wonder should decide first or engaged the service first. Thanks.....

Myasis Dragon
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Re: Multi Trade company

Post by Myasis Dragon » Mon, 10 Aug 2020 1:23 am

rcsg wrote:
Sun, 02 Aug 2020 2:29 pm
Hi, I plan to register a company but wonder should it be under my own name or as Pte Ltd. Planning to trade clothe and also some household item, can it be under 1 kind of trading or multiple? Had tried to get consult from some firm but I need to first engaged the service before I decided. Wonder should decide first or engaged the service first. Thanks.....
You can open a business as a sole proprietorship, and you could call it "RCSG Trading" if you wanted.

You could open a company, a private limited, and could call it "RCSG Trading Pte Ltd" if you wanted.

A Pte Ltd gives you more legal protections to separate your personal assets from your company's business, but it is more complex to maintain and report.

If you have no personal assets, then a sole proprietorship is probably OK, otherwise, you should seek to do business as a Pte Ltd.

rcsg
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Re: Multi Trade company

Post by rcsg » Mon, 10 Aug 2020 1:45 pm

Myasis Dragon wrote:
Mon, 10 Aug 2020 1:23 am
rcsg wrote:
Sun, 02 Aug 2020 2:29 pm
Hi, I plan to register a company but wonder should it be under my own name or as Pte Ltd. Planning to trade clothe and also some household item, can it be under 1 kind of trading or multiple? Had tried to get consult from some firm but I need to first engaged the service before I decided. Wonder should decide first or engaged the service first. Thanks.....
You can open a business as a sole proprietorship, and you could call it "RCSG Trading" if you wanted.

You could open a company, a private limited, and could call it "RCSG Trading Pte Ltd" if you wanted.

A Pte Ltd gives you more legal protections to separate your personal assets from your company's business, but it is more complex to maintain and report.

If you have no personal assets, then a sole proprietorship is probably OK, otherwise, you should seek to do business as a Pte Ltd.


:) Thanks for your advise!

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