A few thoughts to start with……………
Before you can start a business in Singapore
- You must be at least 21 years of age
- You must not be an undischarged bankrupt or else you must obtained the permission from High Court or Official Assignee if you are planning to register a business entity in Singapore.
- If you are going to be actively involved in the running of the business, you will need to apply for an EntrePass from the Ministry of Manpower (MOM). Please click here to read more about the application of EntrePass.
The form of enterprise you choose is important
The fact that you are reading this probably means that you are planning to start a business in Singapore.
A sound business concept and a demand for your products or services are important for the success of your business venture. However your choice of a business type is also important for your business operations to function smoothly. There are several factors to be considered when choosing the right business type 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 types?
- Are the business types easy to close?
This website contains information on the various business entities and the requirements for registration, maintenance and closing these entities. Please click here to find out more of the various business types that you can register in Singapore and the features.
We hope this information will assist you in making a well-informed decision on the business structure that you would like to start. If you require further information or clarification, please contact us.
