Foreigner to register sole proprietor
What is Sole Proprietor
Sole Proprietor and Partnership is sample type of business .
Key different between Business and Company is Concept Separate Legal Entity DOES NOT exist in Business .
Separate Legal Entity means the Company’s liability will be separate from personal asset .
Why people register Sole Proprietor instead of Company ?
- Ease in setting up process
- Lower compliance matters (AGM and AR)
- Lower cost to maintain compare with Pte ltd ( appointment of Company secretary , accountant and Tax Agent )
Basic Information to register Sole Proprietor
- Business name
- principal activity
- registered address
Information Needed from Foreign individual
- A copy of Passport, Residential address
- A copy of NRIC for local Authorised Representative
Information Needed from Foreign Company
- A copy of certificate of incorporation
- A copy of NRIC for local Authorised Representative
Who can be Authorised Representative
Authorised representative must be:
- A natural person
- At least 18 years old
- Ordinarily resident in Singapore (i.e. has a Singapore residential address)