What are the various structure of business entities in Singapore?

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There are five types of structure: Sole Proprietorship, Partnership, Limited Partnership (LP), Limited Liability Partnership (LLP) and Company by Shares.

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What are the requirements for company incorporation?

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To register a Singapore business, you need to have a local address, a resident director, a company secretary and a corporate bank account.

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What is a Nominee Director?

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Under the Companies Act, Singapore registered firms must have at least 1 local resident to be a director.

When a foreigner incorporates a company in Singapore but does not have a local resident as a director of the company, a Nominee Director can be appointed for a fee. The Nominee Director has to be a local resident and does not has a role in the company operations. The appointment is to fulfil Singapore's statutory requirements.

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Why does Singapore require a local director for every company?

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The Singapore government requires a local person to be responsible and ensure the incorporated company follows the local regulation; for example, to pay its taxes and not violate any law. In the absence of a Nominee Director, foreign owners of the company could simply abscond and abandon the company.

A local director can prevent such situations from happening by ensuring that the appointed Nominee Director of the company will undertake the necessary due diligence and ensure that the company complies with the law.

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Do I need a company address?

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Yes, all businesses must have a local Singapore address to register their company. The registered address is for legal purposes and official correspondences.

If you do not have an office address, you may appoint us as your company secretary to handle your incoming letters and maintain statutory book

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How much does it cost to incorporate a company in Singapore?

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For company incorporation, there will be a charge of S$300 registration fee and a S$15 fee for name application by ACRA. So total administrative fees is S$315.

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Can I run a business without registering in Singapore?

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According to Business Names Registration Act (BNRA), all types of businesses except those exempted, must be registered with the Accounting and Corporate Regulatory Authority (ACRA). Therefore, before carrying on a business in Singapore, every person must first register their business.

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