Starting a sole business in Singapore offers entrepreneurs a streamlined pathway to establishing their presence in one of Asia's most dynamic business hubs. As a sole proprietor, individuals enjoy full control over their business operations and decision-making processes. The process begins with registering the business with the Accounting and Corporate Regulatory Authority (ACRA), where entrepreneurs can choose to use their own name or register a business name. This registration process involves submitting necessary identification documents, details of the business activities, and a nominal registration fee. Once approved, sole proprietors can commence operations swiftly, benefiting from Singapore's robust infrastructure, favorable tax regime, and strategic location for regional and global business endeavors. Sole proprietors are responsible for their business's liabilities but enjoy the flexibility of managing their finances and operations independently, making Singapore an attractive destination for entrepreneurial ventures.
Zaim Safar
3 Blog posts