The two most often compared company types in Singapore are Limited Liability Partnerships (LLP) and Private Limited Company (Pte Ltd). Thanks to the country’s economic competitiveness, entrepreneurs are eager to start their own business. An individual who will establish their company soon can choose from the following business entities: Limited [...]
Capital is a necessity when establishing a business. However, the notion that it requires a large amount is a mere misconception. Read on to find out more about how to start a business in Singapore and how much start-up capital is needed. Starting a Business in Singapore The Lion City’s [...]
Start-ups in Singapore play a great role in keeping the country’s entrepreneurship ecosystem competitive. Not every one of them succeeds, but a majority still last more than a few years after their inception. With that said, the government continues to strengthen these enterprises, both individually and collectively by promoting the [...]
The COVID-19 pandemic has affected how people conduct business in Singapore. One of the most prominent changes is that more entrepreneurs are opting to register home-based businesses, allowing them to earn income without direct contact with other people. This article will discuss in more detail the process of home business [...]
Not all companies are created to turn a profit. In the case of non-profit organisations or charities, the best option for business owners in Singapore is to establish their enterprise as a company limited by guarantee. The key advantages of running a company limited by guarantee are the following: Includes [...]
To make it easier to classify Singaporean businesses by the types of economic activities they are engaged in, the Accounting and Corporate Regulatory Authority (ACRA) has introduced a system known as the Singapore Standard Industrial Classification (SSIC). An SSIC code is assigned to every business and is used for multiple [...]
Singapore Personal Access or SingPass is a digital signature that allows entrepreneurs to transact with over 60 government agencies in Singapore. It was launched in 2003 and is currently being managed by the Government Technology Agency (GovTech). The SingPass system is reviewed regularly to ensure that a secure transaction is [...]
The Tax Identification Number (TIN) is a general term for the taxpayer’s information that's used for government transactions. In Singapore, the information required will depend on the individual or the entity. We discuss the basics of a Singapore tax identification number in this article. Permanent residents, citizens and businesses in [...]
The COVID-19 pandemic has wreaked havoc upon the operations of several top companies in Singapore, causing disruptions to supply chains, workforce, and productivity due to the enforcement of strict self-isolation measures. However, as government regulations are eased to stimulate the economy, a number of companies in Singapore have been permitted [...]
The effect of the COVID-19 crisis continues to be felt worldwide. In Singapore, a circuit breaker period was implemented from April 7 to June 1 to pre-empt escalating COVID-19 infections. It includes temporary closure of businesses that are not listed as an essential service. This article discusses the considerations that [...]
