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Business License Singapore
Posted on 2013-09-14 by Nalini
Business License is often confused with Business Registration. For A No Obligation - Free Quote - Just Call or SMS for the Free Consultation - Ms.Nalini +65-90097101. Just in an hour to get your company name reserved with ACRA authority in case if you with to apply for a business registration. There are various Business Entity such as Sole Proprietorship, Partnership and Private Limited Company for which we have given quick and cost - effective solutions. However if you are already a registered business and if you want to apply a licence to run a specific type of business such as resturant or food trading, or finance related like hedge fund or insurance agency or even banking, than there are various government authority invloved which would grant permissions and licences to operate. We can advise you further if you can write to us for your business license requirement related to  your specific industry  type. 
 
Singapore Business Entity Types.
Of all the choices you make when deciding on incorporating an entity in Singapore, one of the most important is the type of business structure (i.e. legal entity) you choose for your business. Your decision can affect how much you pay in taxes, image and perception of your business among your clients and suppliers, the amount of paperwork your business is required to do, the personal liability you face, ability to borrow money, and the ability to expand your business.The below provides an overview of the various types of business entities in Singapore and the differences among them. Each of these is subject to different regulatory and tax regimes reflecting their organization and ownership. 
 
Foreign Company doing Business Registration in Singapore:
 
Foreign companies wishing to setup a presence in Singapore, have the choice of setting up a branch office, subsidiary, or a representative office, usually prefers to setup as a PTE LTD business entity which means private limited. 
(This has limited liability to the shareholders and directors). 
 
Subsidiary Company:- A subsidiary company is a private limited company incorporated in Singapore with the parent company as its shareholder. For small to mid-size foreign businesses, a subsidiary company is the most preferred choice of registration in Singapore. 
 
Branch Office:- A branch office is registered in Singapore as an extension of its parent company and not as a separately incorporated entity. The liabilities of a branch office extend to its parent company. 
 
Representative Office:- A representative office is registered in Singapore as a temporary arrangement for conducting marketing research activities. A representative office does not have any legal status and cannot be engaged in any profit yielding activities. 
 
Sole Proprietorship Company type Business Registration Singapore:
A sole proprietorship is the simplest but the riskiest type of business form in Singapore. 
From a legal perspective, sole proprietorship is not a separately incorporated entity and therefore the owner and the business are one and the same. 
The owner personally owns all assets and liabilities of the business. There is no protection of personal assets from business risks and liabilities. 
As the sole proprietor of a business, you have unlimited liability, meaning that if your business can't pay all its liabilities, the creditors to whom your business owes money can come after your personal assets. 
Many entrepreneurs are usually unaware of this enormous financial risk. If the business is sued or can't pay its bills, the owner is personally responsible for the business's liabilities.
We consider this a serious drawback and hence do not recommend sole proprietorship to inspiring entrepreneurs.
 
 
Partnership type Business Registration Singapore:
Partnership type of business structure attempts to address the limited-expansion constraint faced by a sole proprietorship by allowing two or more people to establish and co-own a business. 
A partnership firm has no legal existance separate from it's partners. It comes to an end with death, insolvency, incapacity or the retirement of a partner. 
Further, any unsatisfied or discontent partner can also give notice at any time for the dissolution of the partnership. 
A partnership type of business structure may make sense only in very limited number of situations. 
We generally don't recommend this type of business structure to business owners. 
 
General Partnership
Limited Partnership
Limited Liability Partnership (LLP) (This is also one popular with local Singapore Residents but not advisable to Foreigner)
That means only Singapore Citizen prefers LLP type Business Registration Singapore.
 
 
Limited Liability Company (LLC) type Business Registration Singapore:
A Limited Liability Company (LLC) is a company limited by shares i.e. its liabilities are limited to the amount of share capital. 
LLC is a business entity registered under the Singapore Companies Act and a separate legal entity from its members. 
In a LLC, the liabilities of the owners are limited to the assets in the company and their personal assets are protected from business liabilities.
 
A Singapore LLC can be of the following types:
Private Limited Company
Public Limited Company
Public Company Limited by Guarantee
 
For  Business Registration Singapore requirements, please click here
For Business Registration Singapore Cost, please click here
For Specifc Business License Application with Singpaore Government Authrity , Contact Us or send us an email at singaporeincorp@gmail.com  or info@singaporeincorporation.net

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