Before starting a business in Singapore
- You must be at least 18 years of age (with effect from 1 March 2009).
- You must not be an undischarged bankrupt or you must have obtained the permission of the High Court or the Official Assignee if you are planning to register a business entity in Singapore.
- Since all transactions must be lodged online, you need to have your NRIC No. and SingPass in order to log into the online system. Please refer to the SingPass website for more information regarding SingPass application.
The form of enterprise you choose is important
The fact that you are reading this probably means that you are planning on starting a business in Singapore.
Before you set up your company, it is important to ensure the success of your business venture with a sound business concept and a demand for your products or services. However, depending on the types of businesses you conduct, your choice of a business vehicle will also be important for your business operations to function smoothly. There are several factors to be considered when choosing the right business vehicle to meet your needs:
- How much capital are you prepared to invest?
- How many owners will there be in the business?
- What liabilities and responsibilities are you prepared to assume?
- What risks are you prepared to take?
- What are the advantages and disadvantages of the different business vehicles?
- Is the business vehicle easy to close?
This website contains information on the various business entities and the requirements for registration, maintenance and closing these business entities. You may also wish to find out more of the various business types that you can register in Singapore and their features.
We hope this information will assist you in making a well-informed decision on the business structure that you would like to start with. If you require further information or clarification, please contact us and we will be glad to assist you.