{"id":420,"date":"2021-04-10T11:00:00","date_gmt":"2021-04-10T03:00:00","guid":{"rendered":"https:\/\/mcmillanwoods.com.sg\/?p=420"},"modified":"2021-05-15T11:15:44","modified_gmt":"2021-05-15T03:15:44","slug":"set-up-sole-proprietorship-in-singapore","status":"publish","type":"post","link":"https:\/\/mcmillanwoods.com.sg\/set-up-sole-proprietorship-in-singapore\/","title":{"rendered":"Setting Up A Sole Proprietorship In Singapore"},"content":{"rendered":"\n
Many organizations that track the business friendly policies of countries have consistently ranked Singapore very highly for the ease of incorporating a new business<\/a> including sole proprietorship in the country. In 2016, Singapore was ranked by the World Bank as the best country of the world in its \u201cDoing Business\u201d category. This was Singapore\u2019s tenth consecutive year in the World Bank survey. <\/p>\n\n\n\n In the previous articles, we have talked about setting up a Limited Liability Partnership and Limited Partnership in Singapore. If you are thinking of starting your own business on a small scale, not settled about the future direction and you are doing it alone, it is probably advisable for you to set up a sole proprietorship instead. You can convert it into a private limited company later when the business has become stable and is going into expansion. <\/p>\n\n\n\n A sole proprietorship is a business owned by one person and the business owner is also known as a sole proprietor. He\/ She will have absolute control and say in the business, including the management and day to day running of the business.<\/p>\n\n\n\n