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Singapore Business Registration for Sole Proprietorship

Small Business word cloud, business concept, sole proprietorship

If you are interested to set up a sole-proprietorship in Singapore, then your search for registration, formalities and procedures ends here.

You think and decide and we act for you. Singapore Company Incorporation Consultants specializes in company formation, registration and all legal formalities. We offer you an express service of registering your sole proprietorship within thirty minutes which is subjected to the approval from ACRA.

Incorporation of Sole Proprietorship in Singapore

Sole Proprietorship is suitable for individuals who want to set up their business individually in Singapore. In Singapore, Sole Proprietorship is administered under the Business Registration Act Cap 32 and it is compulsory to register your sole proprietorship firm with the ACRA (Accounting and Corporate Regulatory Authority) in Singapore. Registration of Sole Proprietorship is simple, quick and consists of minimum formalities.

Important features of Sole Proprietorship Required by ACRA

    • All profits and losses are to be borne by the proprietor himself.
    • It is necessary for a sole proprietor in Singapore to contribute 6% to 8% of his trade profits declared with Inland Revenue of Singapore as compulsory CPF Medisave contribution.
    • Sole Proprietorship manager and business owner can be the same person.
    • The proprietor’s minimum age required is 18 years old.
    • The Sole Proprietor needs to be a permanent resident of Singapore.

We offer you a package for registering your Sole Proprietorship in Singapore with several complimentary features for a fee of S$288 only.

Our Business Registration Singapore – Sole Proprietorship package costs $288 includes:

    • Professional Fees for Registration
    • ACRA Incorporation fees
    • One complimentary Round Self-inking stamp
    • Complimentary shared fax services for 1 year
    • Complimentary Address facility for 1 year
    • Free daily mail alerts via email
    • Thirty days trial version of MYOB Premier Accounting Software

We also offer you services for only the registration of your firm without the need of a virtual office, round self-inking stamps at a fee of S$248 inclusive of the ACRA fees.

Bank account opening is subjected to Banks’ approval.

You will need to supply us with the following essential information before proceeding for registration:

    • Two to three proposed sole proprietorship business names
    • Description of Principal activities of business which should have no more than two.
    • Your company’s registered office address
    • Copy of Local Manager cum Owner’s local proof of identity