Question 1

Singapore Business Registration Act

Accepted Answer

According to the Singapore Business Registration Act, all individuals or institutions conducting business in Singapore are required to register with the Accounting and Corporate Regulatory Authority (ACRA), and any details about changes in the owner, managers or business partners must be made known to ACRA within the specified time period.

Singapore corporations include private and public limited companies
Private limited companies can be registered with less than 50 shareholders

Public companies with more than 50 shareholders must register.

A private limited company is the most common and widely used form of business in Singapore and it is an independent legal entity. Each shareholder has limited liability to the company.

A subsidiary is also a type of limited liability company.

Question 2

Exempt private company

Accepted Answer

An exempted private company is a type of private limited company, the number of shareholders of which cannot exceed 20, and the shares cannot be held by the company. Exempted private companies are required to prepare unaudited statements, also known as accountant-edited reports, for submission to the Annual General Meeting of Shareholders (AGMs) and Singapore Accounting and Enterprise Regulatory Authority (ACRA) for the record.

Question 3

Branch of an overseas company in Singapore

Accepted Answer

Overseas companies set up a branch in Singapore, which is an extension of the head office. Legally, the branch office and the head office are integrated. The head office has unlimited liability for the branch. However, in some cases, the branch company can use the qualification or project case of the head office. For example: construction company.

Question 4

Representative Office of Overseas Company in Singapore

Accepted Answer

​This is a representative office established by an overseas company in Singapore. Representative offices can conduct business market research or coordinate work, but they cannot engage in commercial activities.

Question 5

What is sole proprietorship

Accepted Answer

This is a business entity applicable to Singapore citizens or Singapore permanent residents. This business entity has unlimited liability in connection with the individual.

Question 6

What is General Partnership

Accepted Answer

A general partnership must be a legal entity, unlike a sole proprietorship; that is the sole proprietor and the partners of the partnership bear unlimited liability for debts and obligations arising in the course of the business's operation.

Question 7

What is Limited Partnership

Accepted Answer

A limited partnership is not a separate legal entity. A limited partnership must have at least two partners: a general partner and a limited partner. The general partner is liable for all debts and obligations of the limited partnership, while the limited partner is liable only for debts and obligations up to the amount of their agreed capital contribution.

Question 8

What is Limited Liability Partnership

Accepted Answer

Limited liability partnerships (LLPs) must be registered with the Accounting and Corporate Regulatory Authority (ACRA) of Singapore in accordance with the Limited Liability Partnerships Act 2005. An LLP is essentially a partnership with limited liability. An LLP is a legal entity with separate legal personality from its partners. The partners in an LLP have limited liability for the debts and obligations of the partnership.

Question 9

Differences between a limited liability company, a representative office and a branch

Singapore
Company Types

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Singapore Company Types

Still unsure? Contact Us!

Singapore
Company Types