The Beauty of Singapore Sole Proprietorship 

Singapore Company Formation Service, We provide company registration,incorporation, immigration, accounting and taxation services to entrepreneurs and businesses worldwide.

by Alexander Koral Monday, November 08, 2010
Almost in all business news from around the world, Singapore’s image being the best investment hub in Asia and beyond is conveyed without much perturbment, a characteristic that has been given international recognition and which has only strengthened the island country’s economic stability.

In the data gathered by Bloomberg, Singapore’s Strait Times Index soared to 0.5% to 3,240.31 at the close on November 3, 2010, stretching its advance to 3.1% in that week. At the least, 3 stocks were gained for every 2 that fell in the equity index benchmark of 30 companies.

Southeast Asia’s largest telecommunications company, Singapore Telecommunications rose to 1.9% to $3.21 while its associate Advanced Info Service announced that its third quarter net income amounted to a rise of 17% to $211.2 million based on the surveys compiled by Bloomberg.

Also advancing is Southeast Asia’s largest bank, the DBS Group Holdings which third quarter net income rose to 28% to $722 million from 1 year earlier.

Earlier this week, the Singaporean plantation fares strong and aims for stronger CPO futures such as higher fund flows.

Nonetheless of course, it does not always to be this huge of an investment for an entrepreneur to experience business development in the island state.

Singapore’s business platform is lucrative to all business sizes—small, medium, and large.

Such is evident in the latest survey Ease of Doing Business 2011 performed by World Bank’s financial arm, the International Finance Corporation, which dubbed Singapore from among 183 economies as the easiest territory to make financial investments.

Just how easy doing a business in Singapore is reflected by the procedure of registering a company.

For small-scale entrepreneurship, Singapore Sole Proprietorship offers the best features. It has a risk scale between zero (0) and a least. As the business organization itself is deemed the same as its owner, the income accrued by the entrepreneur is taxed only once—at the personal level.

This also means that foreign investors can own 100% of the business’ shares without having the need to have a partner or shareholder.

“In sole proprietorship, the owner has absolute discretion on how to manage his business. When he earns, he exercises full authority on how to spend his income, whether to repatriate, invest in properties or expand,” described a business consultant of Asiabizservices, one of Singapore’s leading business consultancy and corporate solution providers.

“Anybody, whether a Singaporean citizen, permanent resident, holder of EP, Entre Pass and Dependent Pass can register a sole proprietor company in Singapore.”

Nevertheless, for foreign investors, they may have to satisfy a few requirements as stipulated on the Singapore Companies Act.

“They should appoint a Singaporean manager,” Asiabizservices’ business consultant further commented, “who must not be the owner himself and who must be 21 years of age upon his appointment, possessing either a Singaporean citizenship, Permanent Residence, EP, EntrePass or Dependent Pass Holder.”

Another condition that they must comply is to hire a business consultancy firm like Asiabizservices in carrying out the tasks of company registration in Singapore.

“Foreigners are prohibited from self-registering their own company,” Asiabizservices exclaimed.

“But there is no need to worry as firms like ours exist particularly for that matter. Our primary objective is for foreign entrepreneurs to settle comfortably and legally in Singapore before they commence with their business operations,” Asiabizservices stated in conclusion, “after all, when their business flourishes, business professionals such as us have more reasons to remain in the industry.” is the leading company that provides Singapore Company Incorporation services to both local and foreign entrepreneurs and investors and offer consultation regarding the immigration and taxation, accounting and book keeping requirements, and other compliance matters stated under the Singapore law. AsiaBiz has successfully helped thousands of foreign and local entrepreneurs Form a Singapore Sole Proprietor.

Asiabizservices Pte Ltd
120 Telok Ayer Street Singapore 068589
Phone: (65) 6242 6533
Fax: (65) 6303 2670

Singapore Company Formation Service, We provide company registration,incorporation, immigration, accounting and taxation services to entrepreneurs and businesses worldwide.

General | Categories: financial, business
0    submitted by Alexander Koral
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