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Setup a Singapore Company: Sole Proprietorship
Setup a Singapore Company: Sole Proprietorship
It is considered a simple and flexible business entity in Singapore, is the sole owner of the preferred arrangement for most entrepreneurs who want to have absolute control over your business.
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(pr4links.com)
28/09/2010
"“Because the sole proprietorship does not enjoy perpetual existence, this is really not a good long-term setup for entrepreneurs who want to continue their business even if they are long gone,” rikvin said."
September 28, 2010 - It is considered a simple and flexible business entity in Singapore, is the sole owner of the preferred arrangement for most entrepreneurs who want to have absolute control over your business.
According to a business solutions provider rikvin service, this structure has many advantages, including lower performance, business and administrative tasks, which are often a prerequisite for more advanced configuration.
"A sole proprietorship is not necessary that the financial statements, Accounting and Regulatory Authority (ACRA) to submit," the company said.
In addition to fewer formalities of creating a single company to quickly and cost-effective, and record the time a person eligible under the law of Singapore.
"Although this business structure is the simplest configuration, it is important to realize that people who have been satisfied before the bankruptcy, or those in specific elements that are not permitted, excluded land unique," said rikvin.
Prior approval for entrepreneurs, said each company, business registration, should also consider some disadvantages to this arrangement.
To Singapore law, one owner is a legal person, regardless of its business, which can be found personally liable for any actions, losses, assets and liabilities of your business.
And as society itself is not a legal person can be sued or property with your name.
Another disadvantage of this configuration is a business, that their existence is heavily dependent on its owner. In this case, the company is not its existence, if the owner dies.
"As the sole owner enjoys eternal life, that's not really good long-term performance for businesses to continue their work even when they are gone," said rikvin.
With this, companies, business registration advice to their customers in exchange for limited liability if your own business already has strong earnings and has the potential for further expansion.
In the meantime, foreign entrepreneurs to register their own business, if you ask EntrePass, employment pass, dependent pass or permit for permanent residence. But because the government does not allow foreign individuals or organizations to register for your company is a prerequisite for the timber company that your application will be hired.
It is also a requirement for foreign companies and individuals, the Singapore-based manager to personally supervise the name of the company.
Contact Rikvin
Rikvin is the leading Singapore Business Registration and work pass specialists. It has assist thousand of foreign entrepreneurs setup up a Singapore Company operations including securing their work visas.
Our office is located at Raffles Place, in the heart of the Singapore business district. ("CBD")
If you're in our neighborhood and want to discuss any aspect of our service then feel free to come in to our offices during business hours. Appointments are welcome but definitely not necessary.
20 Cecil Street, #14-01, Equity Plaza, Singapore 049705
Main Lines : (65) 6438 8887
Fax : (65) 6438 2436
Email : info@rikvin.com
http://www.rikvin.com/
About
Asiabiz Services Pte Ltd
120 Telok Ayer Street
Singapore 068589
Phone: (+65) 6242 6533
Fax: (+65) 6303 2670
E-mail: sales@asiabizservices.com
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