Sole Proprietor vs LLP vs Company in Singapore

Singapore is renowned for its pro-business environment, making it an ideal destination for entrepreneurs to establish their ventures. With streamlined processes and a supportive ecosystem, setting up a business in Singapore is relatively straightforward, especially for residents. The first critical step is choosing the right business entity that aligns with your goals and operational needs. The three most common business entities in Singapore are Sole Proprietorship, Limited Liability Partnership (LLP), and Private Limited Company, each offering distinct advantages and considerations.

A Sole Proprietorship is ideal for small-scale businesses with minimal risk, but it does not provide liability protection. LLPs, on the other hand, combine the flexibility of partnerships with limited liability for partners, making them suitable for professional services. A Private Limited Company offers the most robust structure, with limited liability and scalability, making it the preferred choice for businesses aiming for growth and investor attraction. Understanding these entities is crucial for making an informed decision tailored to your business objectives.

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Видео Sole Proprietor vs LLP vs Company in Singapore канала 3E Accounting - Company Registration Specialist