Thursday, December 4, 2008

Essential Information for startup

Business name registration fees S$ 15 (required for ALL business forms)
Sole-proprietorship / Partnership registration fees S$ 50
LLP S$ 150
Companies limited by shares S$ 300
Companies limited by guarantee S$ 600


No of shareholders in Private Limited Companies is 1 - 50 (the same person can be the sole s/h, director and co. secretary)
No of partners in both Partnership and LLP is 2 - 20 (20 is the limit, otherwise need to form Pte Ltd)


Latest company tax rate is 18% (though effective tax rate is lower due to all the exemptions etc)
Latest personal income tax is 0% to 20% (depending on chargeable income amount)
Social Enterprise (Not-for-Profit) has the follow options

1) Society (register with Registry of Societies)
2) Company limited by guarantee (register with ACRA)


Social Enterprises can also register as a Charity Org, with Institution of Public Character Status (this is additional to above)

*Information updated as of 5 Dec 2008