You can start your business easily. Start by choosing your business structure (sole proprietorship, partnership, private limited), register the company with ACRA and open a corporate bank account.

At Murdoch, we can get you started quickly and get you started within days.

You would need a company name, a description of your business activities and details of your directors and shareholders, including their KYC (Know Your Customer) information.

In Singapore, a sole proprietorship, limited partnership, and private limited company are three different types of business entities. Here's a breakdown of the differences between them:

Sole Proprietorship:

• A sole proprietorship is the simplest and most common form of business structure in Singapore.
• It is owned and operated by a single individual who has complete control and responsibility for the business.
  The owner assumes unlimited liability for all debts and obligations of the business.
  
  
• The business and the owner are considered as one legal entity, meaning there is no legal distinction between the owner and the business itself.
  
  
• The sole proprietorship does not have a separate legal identity, and the owner reports business income and expenses on their personal tax return.

Limited Partnership (LP):

• A limited partnership is formed by two or more partners, consisting of at least one general partner and one limited partner.
  
  
• The general partner(s) manage the day-to-day operations of the business and have unlimited liability for the partnership's debts and obligations.
  
  
• The limited partner(s) contribute capital to the partnership but have limited liability, meaning their liability is limited to the amount they have invested.
  
  
• Limited partnerships must be registered with the Accounting and Corporate Regulatory Authority (ACRA) in Singapore.
• Limited partnerships are less common than sole proprietorships and private limited companies in Singapore.

Private Limited Company (Pte. Ltd.):

• A private limited company is a separate legal entity from its owners, known as shareholders.
  
  
• It offers limited liability protection to its shareholders, meaning their personal assets are generally protected from the company's debts and liabilities.
  
  
• A private limited company can have a minimum of one shareholder and a maximum of 50 shareholders.
  
  
• The company is managed by directors appointed by the shareholders.
  
  
• It must be registered with ACRA and comply with various regulatory requirements, such as filing annual financial statements and holding annual general meetings.
  
  
• Private limited companies are the most commonly used business structure for medium to large-scale businesses in Singapore.

It's important to note that the choice of business structure depends on various factors such as the nature of the business, liability considerations, tax implications, and future growth plans. It is recommended to seek professional advice or consult with the appropriate government authorities in Singapore before deciding on the most suitable business structure for your specific situation.

It can take 1-2 days, depending on whether we have all the necessary documentation provided and in place.

Yes you do. You can also set up a registered business address with us if you do not have an official office space.