Which entity will be best for my company?

There are several factors to consider when selecting your entity structure:

Liability: Only Pte Ltd and Limited Liability Partnership provide a separate legal entity and limit the personal liability of founders and shareholders. The other forms expose you to personal risks.
Taxes: Only Pte Ltd companies pay corporate tax rates and can apply for tax exemptions. Other company forms will be subject to personal tax instead. Above a certain level of revenue, it is more beneficial to pay corporate tax compared to personal tax.
Compliance requirements: Pte Ltd requires to appoint a Corporate Secretary and to submit annual reports to ACRA. These duties can however be outsourced to a specialized agency.
Funding: A separate legal entity is usually required to apply for loans and attract investment.

(Source: Osome )

Disclaimer: The above-mentioned details are not intended to serve as, and should not be deemed as, legal or financial advice from Aspire or any of its affiliates. Please seek professional advice before deciding which structure to adopt and how it may impact your business, operations, and affairs (financial or otherwise).

Questions? Please log in to the app and reach out in the chat at the bottom right corner of the screen.

Suggestions? Let us know here.