New company set up in Singapore - advice needed

[MTechnic]

Hi,

I went to take a look at setting up a company in Singapore , there are many categories of company set up like : sole prop ... LP , LLP and Private Limited .

What is the difference in terms of liabilities between them?

I know abt sole prop ... As they can be used till yr assets you owned...

Company will be small scale, abt 3 to 5 persons and do not require lending any loan from bank. Selling health products for consumption. Probably yearly turning over is about SGD300k.

Any advice which will be better category?

Appreciate yr advice... Cheers

 

[ozipo]

Re: New company set up in Singapore - advice needed

http://www.guidemesingapore.com/incorporation/introduction/singapore-incorporation-entity-types

See above and there are many more links usually company secretaries sites. Or contact a company secretary for advice. Bear in mind pte ltd not easy to deregister. And if u have plan to keep moving best to have registered address using company secretary and operation address could be temp depending on rental rate

 

[Red_Bean_Bun]

Re: New company set up in Singapore - advice needed

pte ltd damn troublesome ..... must keep records. have audit. IRAS always knock on the door. must have agm .......

if focus is on services then LLP. like lawyer like that.

 

[MTechnic]

Re: New company set up in Singapore - advice needed

That's what I know abt pte ltd. has to get an accountant to do the records.

But if the focus is on selling health product , will registering the company LLP works?

pte ltd damn troublesome ..... must keep records. have audit. IRAS always knock on the door. must have agm .......

if focus is on services then LLP. like lawyer like that.

 

[alvinado]

Re: New company set up in Singapore - advice needed

If you make below 2.5 million in revenue you are considered EPC- Exempt private company, no need audited statement, just a declaration to iras. pm me if you need more information.

Please note that i am not selling services, just a fellow business owner.