The registration of a company is among the most important prerequisites when it comes to starting a business in Singapore. Documents must be filled in and, based on the kind of business, specific approvals and permits must be obtained before the business can begin.
The first item on the list before beginning the process of company incorporation & registration in Singapore is choosing a business structure. There are different business structures across the world.
To find the best structure for your own business structure, ask yourself the following questions:
o What kind of business do you want to establish?
o Do you want to manage the business by yourself or do you want partners who will share rights and obligations?
o What kind of income do you expect?
o How will profits affect your taxes or personal income?
o How can you protect yourself from legal liability?
o Can you personally be held responsible for business oversights and are you prepared to accept that kind of responsibility?
o What will the value of the business assets be?
o What do you know about capital gains tax, if the business would ever be sold?
Once you know the answers to these questions you will know better what business structure will suit your type of industry best. You can then proceed with the company registration procedure if that is the structure you have settled on.