Incorporation of Sole Proprietorship or Partnership

Starting or expanding a business is an exciting journey, but not when the process is delayed by tedious and complex administrative processes. When you’re brimming with ideas and ready for things to kick off, time is of essence and the hassle of handling documentation requirements should be the least of your worries.

We assist both local and foreign clients in their company formation, from initial planning to ensuring compliance in the years after. Our expertise and commitment to professional and quality service has earned us positive feedback from many clients. 

Wish to set up a company in Singapore? Get in touch to find out more about our full range of incorporation services.

Sole Proprietorship
A sole proprietorship is a business that can be owned and controlled by an individual, a company or a limited liability partnership. There are no partners in the business. The business owner is personally liable for all the debts and losses of the sole proprietorship

Partnership
A partnership is a business owned by 2 to 20 partners. The partners are personally liable for all the debts and losses of the partnership

Locals must be: 
– At least 18 years old
– Singapore Citizen, Singapore Permanent Resident, or EntrePass Holder

Foreigners residing in Singapore must: 
– Seek approval from the Ministry of Manpower (MOM)
– Appoint at least one locally resident authorised representative
– Engage a registered filing agent

Foreigners residing overseas must: 
– Appoint at least one locally resident authorised representative
– Engage a registered filing agent

Choosing A Name
Conduct a search on BizFile+ to ensure the name is available.

Registering A Name
Register the business name via BizFile+ to reserve the name before registering the business entity. The application costs $15 and once approved, the name will be reserved for 120 days. 

Specifying Business Activity
Specify the primary and secondary activities of the business with reference to the Singapore Standard Industrial Classification (SSIC) code during name application.

A business address is the place where the entity carries out the business.

Small-scale businesses conducted from home may use residential address as the business address under the Home Office Scheme. Application may be done prior to submitting business registration to ACRA.

Business owners residing in HDB flats must seek approval from Housing Development Board (HDB).

Business owners residing in a private residential properties must seek approval from Urban Redevelopment Authority (URA).

To register the Sole Proprietorship or Partnership,
– Log in to BizFile+ using SingPass to submit the online transaction
– Engage a registered filing agent to submit an online application on behalf
The fee for registration is $100.

All proposed business owners, including partners or authorised representatives must endorse their consent online via BizFile+ before the business can be registered.

The business registration is valid for a period of one or three years and must be renewed before the expiry date if the owner(s) wishes to continue the business. The renewal fee is $30 for one year or $90 for three years and can be renewed by any of the business owners with a valid CorpPass account 60 days before the expiry date.