Start business

[soncung]

Dear All,

Do you know how can I registra for my company? How much do it cost? How to start a company with lowest cost?

Regards
Tyson

[prodigy]

Sole proprietor would be the lowest cost. You can register your company's name with ACRA in which they will respond to you with the approval or rejection of the company's name.

It's a small fee to pay, you can check their website or go down to ACRA to register.

[soncung]

Hi,

Thank you for you reply!

Sole proprietor is it consider SME? Do I need to have secretary/accouting/audit? Do it have any other type of fee?

What is the difference between Sole proprietor and Private Limited?

Regards
Tyson

[James**]

Do go into the ACRA website for more information

[UncleO]

http://www.acra.gov.sg/

[daysleeper]

As far as I know the main difference between sole proprietor and Private Limited is that:

For the former its' liabilities are your personal liabilities, means you have to risk all your asset to cover all the debts when you go bankrupt.

For the latter you will benefit from limited liability for debts incurred. This means that, should your business get into difficulties financially, you and the shareholders of your company would only stand to lose what you originally invested.