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Discuss your views about Singapore business & economy, current policies & issues, starting a business in Singapore.
soncung
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Start business

Postby soncung » Thu, 01 Dec 2005 11:57 am

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

Postby prodigy » Thu, 01 Dec 2005 2:48 pm

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
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Postby soncung » Thu, 01 Dec 2005 3:04 pm

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

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James**
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Postby James** » Mon, 05 Dec 2005 12:46 am

Do go into the ACRA website for more information

UncleO
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Postby UncleO » Mon, 05 Dec 2005 8:10 am


daysleeper
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Postby daysleeper » Wed, 28 Dec 2005 7:08 pm

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.


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