As the name suggests, a sole proprietorship business has a single owner. It’s the easiest form of business in Singapore as far as registration is concerned. It should be noted that there is no distinction between the owner and business in this kind of setup. To be more precise, the owner and business is taken as one identity, and therefore, the owner is expected to pay for business debts and other loans from his own assets, if need be. The profits generated by the concerned business are taxable and the calculations are done under personal income tax norms of Singapore.
Singapore Company Registration Services
Once you have locked the business idea, the next step is to contact VentureHaven to register company in Singapore. As the leading business consultancy service in Singapore, we can help in the initial registration and other processes, so that you can focus on operations and other aspects that need immediate attention. VentureHaven specialises in varied forms of business consultancy services, and so far, we have helped hundreds of sole proprietorship businesses in Singapore. We strongly believe owners and entrepreneurs should have enough time to deal with core business matters, and we intend to offer that flexibility right from the start. We have a few readymade packages for every startup, but none of that works for you, we will be happy to create a custom plan that matches your needs.
Working with VentureHaven
VentureHaven offers incredible assistance for sole proprietorship businesses, and on top of Singapore company registration services, we also have a pool of additional services, including accounting and tax preparation. We have an in-house team of consultants who offer assistance on tax matters, and if there are any issues with your bookkeeping requirements, we can design a plan that suits your needs. We also work with small business owners for investment planning, and with our team of financial consultants, you can expect to take sensible decisions that are fueled by knowledge and market information.
Things to note
If you wish to start a Singapore Private Limited Company, we can help with that, as well. Unlike Partnerships and Sole Proprietorships, owners are not held liable for the losses, debts and loans. For businesses that are making considerable profits, we often recommend establishing a corporate setup. The entire incorporation process is completed under the norms set by Singapore’s Companies Act Cap 50.
To know more about company secretary and incorporation services, call the experts of VentureHaven now, or else, you can visit our office between Mondays and Fridays to register company in Singapore.