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Asiabizsetup Provides Singapore Company Formation Advice Before a businessman embarks on an investment, the type of business entity must first be decided. In Singapore, entrepreneurs may select business firm or a company. The difference is that in a business firm, the entity is not recognized with legal existence. “Hence, companies, by virtue of their legal personality, may own and dispose assets and be named as complainant or respondent in lawsuits,” Asiabizsetup elaborates on the features of having a legal status. “In business firms however,” Asiabizsetup continues, “the business owners have unlimited liability due to the absence of legal status in business entities. Too, the owners acquire the rightful ownership of assets purchased through business profits.” When any losses or liability incurs, owners of business firms are held accountable including personal assets whether real estate or liquid. Should a businessman choose a business firm, there are 2 selections available— sole proprietorship and partnership. “In sole proprietorships, the owner possesses all shares of the business,” Asiabizsetup resumes the discussion, “whereas, in partnerships, there are a minimum of 2 partners to form the business.” The partners in partnership may be a natural person or another business firm or corporate body. For foreigners commencing on such business in Singapore, they ought to appoint a local manager who holds local residence. Asiabizsetup cites the differences. “A private limited company is a resident corporation featuring legal existence and thus eligible for tax exemptions and in some conditions, continuous tax incentives. The shareholder’s liability is limited to the value of shares they invested in the company.” On the other hand, a branch office is an extension of a parent company whether local or foreign and which shoulders liability incurred by the branch. Thus, it does not maintain legal status. A subsidiary company, according to Asiabizsetup, does have legal existence and is registered as limited liability. Hence too, it is rewarded with tax incentives and exemptions. Its name may either bear its parent company’s or another.

A representative office is definitely not considered a legal entity as its activities are limited to promotion of the parent company’s products and services, and conducting market research. About the Publisher: For many years, Asiabizsetup has served the community by taking charge of Singapore company incorporation, Singapore company registration and processing the necessary working visas of entrepreneurs or employees, and providing services such as accounting, secretarial and statutory compliance with certain requirements. AsiaBiz is a company that provides Singapore company setup services to local and foreign entrepreneurs and investors and offer consultation regarding the immigration and taxation law, Singapore accounting services, book keeping requirements, and other compliance matters stated under the Singapore law. address: 120 Telok Ayer Street Singapore 068589 phone: (65) 62426533 email: website:

Asiabizsetup Provides Singapore Company Formation Advice  

AsiaBiz is the leading Singapore company that provides Singapore Subsidiary Registration services to local and foreign entrepreneurs and inv...

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