Entrepreneur below 21

[ladyvampire]

I am 19, registered a business with ACRA last year under my parent's name and running it on my own.
All was fine until I heard rumours that it is illegal to do that.
Is that true?
Is there any ways I can transfer the business to my name without waiting 2 freaking years? ><

Sometimes I dislike being 19.
You can't even post a classifieds on papers.
=(((

[ksl]

I am 19, registered a business with ACRA last year under my parent's name and running it on my own.
All was fine until I heard rumours that it is illegal to do that.
Is that true?
Is there any ways I can transfer the business to my name without waiting 2 freaking years? ><

Sometimes I dislike being 19.
You can't even post a classifieds on papers.
=(((

http://www.acra.gov.sg/Services/Busines ... culars.htm

[fated82]

I thought they have brought down the age to 18? Now you can start a business at 18, no? I remember they annouce it before, you might want to check with Acra

[danialgoh]

Having a business registered under someone else's name while you are running it is not illegal. Think of it as a franchise. Use their name but you are running it.

How about this as a hint. Many are doing this right now and none ever mentioned that it is illegal. The only illegal thing I can think of right now is when you are running a business without registering it.

Cheers...

[ETMOTO]

Do everything locally at your own risk and do not get caught.

[ladyvampire]

they hv just changed the requirements this march. The min age now is 18. =)