There are a number of entrepreneurs who prefer to set up a Sole Proprietorship. First of all, compared to private limited companies, a sole proprietorship is relatively easy to set up. Second, it is easy to manage and administer since the sole proprietor is usually the only decision maker. Third, sole proprietors are not required to audit their business accounts or file annual returns with ACRA. And finally, business is taxed at income tax rates.

Almost anyone can register a Singapore sole proprietorship. However, if you are an undischarged bankrupt, you may not be allowed to register a sole proprietorship.

The requirements of setting up a sole proprietorship are basically the same as that of private limited companies – although much less complicated. You will need a business name, a local manager who is a Singapore Resident, a registered address and a minimum paid up capital of only $1. There are a few businesses that require you to obtain licenses and permits before you can register your sole proprietorship.

Sandhurst can effectively assist you in registering your Singapore sole proprietorship.