Rikvin Assists Foreign Entrepreneurs Register a Singapore Company by PaulWhite01


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									Rikvin Assists Foreign Entrepreneurs Register a Singapore Company

Singapore’s environment plays a significant role to business growth. The robust economy and efficient
policies strengthened by its state-of-the-art technology on infrastructure and information and
communication have attracted scores of foreign investors and entrepreneurs.

Foreign entrepreneurs can register a sole proprietorship, partnership, or limited liability partnership in

“The ownership of a sole proprietorship business is bestowed upon a single individual,” Rikvin
commences its elaboration on the basic features of business structures in Singapore, “who exercises
absolute authority over its business in matters relating to finances, management, and other activities.”

A partnership requires a minimum of 2 individuals and a maximum of 20 who share ownership of the
business. The partners may either be a natural living persons or another business entity.

“Both the Singapore sole proprietorship and partner businesses are not recognized as a legal entity.
Therefore, assets and properties acquired through the profits of the business cannot name the business
as the owner.”

Neither of them can file lawsuits nor be filed against. The tax is levied once on a personal level of the
business owners. Rikvin continues its elaboration saying, “foreign business entities have a local manager
assigned in Singapore.”

A local manager is either a permanent resident or a citizen of Singapore. Possession of an Entrepreneur
Pass may also qualify foreigners to take that position.

On the other hand, a limited liability partnership is clothed with a legal personality, hence, it can acquire
assets and engage in lawsuits in its business name.

“It is constituted by at least 2 partners who could either be a natural living person or another corporate or
business entity,” Rikvin resumes elaborating, “and the liability of each partner is limited to their investment
on the company.”

This means that partners are protected personally from any accountability that would have arisen from
negligence and unwise decisions. The LLP too requires the appointment of a local manager unless
foreign entrepreneurs relocate to Singapore.
Since the LLP is treated as a resident company, it is awarded with tax exemptions on its 1 3 years of

All 3 business structures are exempted from auditing requirements, filing of financial statements with
ACRA, filing of annual tax returns, and compliance with financial reporting standards.

Foreign entrepreneurs are not eligible to register their business by themselves. Based on the laws of
Singapore, they ought to hire a company to spearhead the registration of a company and the processing
of labor passes.

Rikvin specializes in incorporation of a foreign company and registration of a business in Singapore. It
also handles application for labor passes.

About the publisher:
Rikvin provides corporate solutions to investors and entrepreneurs in the local and abroad. Among its
specializations are Singapore company registration and business firm and providing professional services
relating to finances and administrative. Rikvin specializes in processing working visas and providing
services such as nominee director, nominee shareholder, nominee agents, accounting, payroll, and

Since 1995, Rikvin serves hundreds of companies managing and rendering Singapore accounting service
using sophisticated payroll software system to handle even the most complicated payroll account. In its
payroll services, Rikvin assures its clients of confidence in dealing with every transaction. Its accountants
maintain competence. Above all, Rikvin’s principles adhere to the laws and share the same vision such
as the inevitability of innovation. Rikvin has successfully helped foreign and local entrepreneurs form a
Singapore company.

For more information, visit:
20 Cecil Street, #14-01, Equity Plaza, Singapore 049705
Main Lines : (65) 6438 8887
Fax : (65) 6438 2436
Email : info@rikvin.com

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