{"id":410,"date":"2020-01-13T03:11:44","date_gmt":"2020-01-13T03:11:44","guid":{"rendered":"https:\/\/acrabiz.com\/offshore\/?p=410"},"modified":"2020-07-21T05:07:00","modified_gmt":"2020-07-21T05:07:00","slug":"what-are-available-company-types-in-singapore","status":"publish","type":"post","link":"https:\/\/acrabiz.com\/offshore\/what-are-available-company-types-in-singapore\/","title":{"rendered":"What are available company types in Singapore"},"content":{"rendered":"

Business Organisations in Singapore<\/b><\/span><\/p>\n

In Singapore, companies are principally governed by the Companies Act (Cap 50, 2006 Rev Ed) (hereinafter “the Act”). It should be noted though that specific types of companies may, in addition to the Companies Act, be regulated by other statutes.<\/span><\/p>\n

Business organisations can either be incorporated or unincorporated. Incorporation involved creating a separate legal entity. The separate legal entity created can incur its liabilities and have its own rights that are distinct from those of the owners or creators of the entity. The most common forms of incorporated organisations are the company and the limited liability partnership, though there are others such as statutory boards and management corporations. The most common forms of unincorporated organisations are the sole partnership, the partnership and the limited partnership, though there are others such as business trusts.<\/span><\/p>\n

Read: Comparison of Business Entities in Singapore<\/span><\/a><\/span><\/p>\n

Setting up a wrong type of organisation to run a business may affect the business and may affect the owner of the business, although it may be possible to dissolve one form of structure and set up another. Generally speaking, the cost of setting up the wrong type of organisation may be higher than running the business. <\/span><\/p>\n

Know the Types of Business Organisations First <\/b><\/span><\/p>\n

Importantly before you start your business in Singapore, get to know about the types of business entity you could choose from.<\/span><\/p>\n

There are 4 main types of business structures to choose from. They are:<\/span><\/p>\n

    \n
  1. Sole-Proprietorship (one owner) or Partnership (two or more owners)<\/span><\/li>\n
  2. Limited Partnership (LP)<\/span><\/li>\n
  3. Limited Liability Partnership (LLP)<\/span><\/li>\n
  4. Company<\/span><\/li>\n<\/ol>\n

    1.Sole-Proprietorship (one owner) or Partnership (two or more owners)<\/b><\/span><\/p>\n

    Definition: A business owned by 1 or more person<\/span><\/p>\n

    Registration requirements: Singapore Citizen\/Singapore Permanent Resident\/EntrePass<\/span><\/p>\n

    Legal status:<\/span><\/p>\n