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Entrepreneur below 21

Discuss your views about Singapore business & economy, current policies & issues, starting a business in Singapore.
ladyvampire
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Entrepreneur below 21

Postby ladyvampire » Sat, 03 Jan 2009 12:39 am

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.
=(((
The world is my computer in which I play my games.

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ksl
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Re: Entrepreneur below 21

Postby ksl » Sat, 03 Jan 2009 1:53 am

ladyvampire wrote: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
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Postby fated82 » Sat, 03 Jan 2009 11:50 am

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
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Postby danialgoh » Mon, 05 Jan 2009 10:42 pm

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
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Postby ETMOTO » Sat, 14 Mar 2009 10:40 pm

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

ladyvampire
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Postby ladyvampire » Sat, 14 Mar 2009 10:54 pm

they hv just changed the requirements this march. The min age now is 18. =)
The world is my computer in which I play my games.


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