Singapore Sole Proprietorship

A Sole Proprietorship is the simplest form of business model with one individual or entity individually responsible for all the assets and liabilities of the business. Singapore citizens or permanent residents, holders of Employment Pass or EntrePass may register as a Sole Proprietor. Foreign individuals and companies may also register a Sole Proprietorship but must appoint a Singapore resident manager.

Features of a Sole Proprietorship

  • It does not have a separate legal entity.
  • The owner has unlimited liability.
  • It cannot own property.
Requirements for a Sole Proprietorship
  • Only one owner either corporate or an individual.
  • A Singapore registered office address.
  • For foreign individuals and companies only: minimum one manager who must be a Singapore resident.
Taxation of Singapore Sole Proprietorship
Singapore Sole Proprietorship, though tax resident, is not considered to be a corporate entity.  Profit is taxed at the personal income tax rate of the owner.

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