Asiabiz Services Manages Sole Proprietorship Registration Service
By employing Asiabiz’s professional services, an entrepreneur does not have to worry about these requirements as the same are handled by the firm.
by Ashley Varghese Saturday, January 29, 2011
Asiabiz Services specializes in processing business solutions such as registration of a business. In a conversation with one of its business consultants, Asiabiz Services indicates that Singapore encourages entrepreneurship even among the youths.
“In Singapore, even an 18-year old individual is eligible to start a Singapore sole proprietorship business provided he possesses the needed qualifications. He can be a Singapore citizen, a permanent resident, or a foreign national by obtaining an Entrepreneur pass.”
A Singapore company or a partner in a limited liability partnership may also engage in a sole proprietorship. And so is a foreigner residing overseas by appointing a local manager.
In registering a sole proprietorship, a foreign individual should secure the appropriate pass rendering him eligible to conduct business operations. Asiabiz Services shall guide the foreign entrepreneur in the application of either the employment pass or entrepreneur pass.
Meanwhile, Asiabiz also aids in drafting the 10-page business proposal that the Ministry of Manpower requires. In the said document, the business goals must be expressed clearly, along with the marketing strategies, and other activities crucial to a business’ success. Of course, the entrepreneur himself must convince the Minister that he has the necessary experience in marketing.
After the Entrepreneur pass is approved and released, the sole proprietorship is then registered with ACRA.
“The entrepreneur must prepare a business name for approval. It must not bear any encroachments on trademarks, morals, and ethics. Nor should it resemble another business entity so as to be mistaken for that company,” says the representative resuming her elucidation and assuring that even the name availability and conformity check is done by Asiabiz.
ACRA shall issue a business registration number upon completion of registration. The registration number must be displayed on the business’ letterheads, invoices, bills, and other official documents. Depending on the nature of the business, the entrepreneur may have to obtain other business licenses and permits.
By employing Asiabiz’s professional services, an entrepreneur does not have to worry about these requirements as the same are handled by the firm. Another requirement that should be satisfied by the sole proprietor is opening of a business bank account.
“Singapore does not impose a minimum amount in opening a business bank account as that is discretion of the bank. However, Asiabiz lends a hand to foreign entrepreneurs in this subject by providing a list of banks in Singapore and their corresponding minimum amount requirement and facilities.
Other specializations of Asiabiz include payroll management and filing of personal annual tax returns. For companies, Asiabiz provides accounting and bookkeeping as well as nominee services.
About the Publisher:
Asiabizservices offers one-stop business solutions to companies, particularly, those that are managed and owned by foreign investors. Since its inception, Asiabizservices has successfully helped foreign entrepreneurs form a Singapore company. Among its specializations are Singapore company setup, corporate services, accounting services, nominee services, company registration, whether as a sole proprietorship, private limited, limited liability partnership; offshore company formation, incorporation of foreign companies either as a branch or subsidiary office, accounting services including payroll preparation and more.
Asiabizservices is the leading provider of Singapore Company Incorporation services and has successfully helped thousands of both local and foreign entrepreneurs incorporate a Singapore Company. It also provides chartered secretarial services.
For more information visit:
AsiaBizServices PTE LTD
Address: 120 Telok Ayer Street Singapore 068589
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