Business entities in Singapore that can apply for Aspire account

You can easily create an Aspire account as long as your business has a UEN number and is registered with ACRA.

Provided that your business has a UEN number and is registered with ACRA, your business can use Aspire without being a private limited entity.

Different Types of Company Structures

In general, there are three basic types of company structures in Singapore, and they vary in terms of liability, the number of owners, and the relationships between them:

1. Limited Liability Company (Pte Ltd or LLC)
   This is the most common choice for entrepreneurs in Singapore. It is an exempt private company limited by shares.
   
   

    

2. Sole Proprietorship
   A business is set up by one individual. This is an option only for local residents - foreigners have to incorporate it under other registration types.
   
   

    

3. Partnerships
   This entity is formed by at least two partners, up to 20 individual partners. There are several ways to set it up:
   
   1. General Partnership (or just Partnership)
      Similar to a sole proprietorship but with more than one owner.
      
      

       

   2. Limited Partnership
      In this entity, partners have different liabilities - one is a general partner, and the other is a limited (or dormant) partner. The role of the limited partner is often restricted to funding.
      
      

       

   3. Limited Liability Partnership (LLP)
      This entity is similar to a Pte. Ltd. This allows owners to operate as a partnership while having a separate legal entity like a private limited company.