Rikvin On Singapore Sole Proprietor Setup Services Singapore’s leading business registration firm Rikvin continues to provide world class Singapore Sole Proprietor setup services. Sole Proprietorship simplest form of business entity with only one owner who is the decisive authority and responsible for all assets and liabilities belonging to the business. According to Rikvin, “Singapore citizens or permanent residents; holders of Employment Pass, EntrePass or Dependant’s Pass may register a Sole Proprietorship. Foreigner individuals and companies may also register Sole Proprietorship but must appoint a local resident manager.” A Singapore Sole Proprietor is taxed at personal income tax rate thus they are not required to file annual returns. They also have very few compliance requirements and written documentation. The business itself is flexible. Any decisions and changes can be made easily as there is only one person to make the relevant choices. Moreover, all the profits generated by the business will belong to the Sole Proprietor. Sole Proprietor owns his business and so are able to sell or transfer it as he wishes. “Sole Proprietors does not have a separate legal identity, has unlimited liability and cannot own property,” Rikvin added. Rikvin also presented the incorporation requirements and provided a document checklist for registration of sole proprietorship. The document checklist includes the proposed Sole Proprietorship name, copies of NRICand/or Passport information of the business owner, brief description of business activities and registered office addressfor businessoperation. Foreigner individuals and companies may also register Sole Proprietorship but must appoint a Singapore resident manager. Rikvin is Singapore’s leading specialist in company incorporation. You can engageRikvin to assist you with the formation of Sole Proprietorship with ACRA.
About the Publisher: Rikvin is a Singapore-based consultancy that offers businesssolutions for both local and foreign professionals, investors and entrepreneurs. Rikvin’s areasof expertise include assistance to incorporate a Singapore company, offshore company setup, Singapore work visa, and other related corporate services. Rikvin also provides immigration services for foreign professionals wishing to relocate to Singapore. Rikvin PTELTD 20 Cecil Street, #14-01, Equity Plaza, Singapore 049705 Main Lines: (65) 6438 8887 Fax (65) 6438 2436 http://www.rikvin.com