Services for Sole Proprietors
Accountancy related services specially designed for Sole Proprietors or Professionals in Singapore. Tap on our extensive experience to ensure your your business is adhered to and compliant with the relevant laws and regulations set by the various authorities.
Sole Proprietorship and Partnership in Singapore
There are three main forms of doing business in Singapore: Sole Proprietorship, Partnership and Corporation. A sole-proprietorship is a business owned by one person or one company. There are no partners. The sole-proprietor has absolute say in the running of the business. A partnership is a business firm formed by two to twenty partners. Once there are more than twenty partners, the partnership must be registered as a company under the Companies Act, Cap. 50. The Sole Proprietorship and Partnership are often referred as “unlimited company”. The “infinity” or “limited” here refers to the scope of the company’s debt and liability. The responsibilities of the Sole Proprietorships and Partnerships are unlimited, and the responsibilities of the company are usually limited.
From the perspective of taxation, owners of wholly-owned enterprises can use sole proprietorship to operate their businesses in the early stages of their operations. When business operations are stable and incomes are high, it can be transformed into a corporate form of business to gain greater room for tax planning. The circumstances of each business are different and cannot be generalized. We recommend consulting professional accountants, such as Cohesion Management team, to do tax planning as soon as possible.
Our Services for Sole Proprietors / Professionals
Tap on our extensive experience to ensure your business is adhered to and compliant with the relevant laws and regulations set by the various authorities.
Why Choose Cohesion Management
We believe in building long lasting relationships with our clients through collaboration, constant communication and discussion. Each of our clients are assigned to a dedicated Chartered Certified Accountant in Cohesion Management. Our professional accountants have extensive experience in accounting procedures and related reporting operations for various business industries. Our team are familiar with various laws and procedural rules, and remain up-to-date with latest statutory rules and regulations.
Our bookkeepers and accountants operate with Cohesion Management’s standardized operation mode to provide each of our clients with high efficiency and high quality service. In addition, through effective case control, customers can be notified in a timely manner of the relevant tax burden and the legal provisions involved, to help customers understand the impact of changes in the law, and dealt with in accordance with the law, to avoid unnecessary risks.