To start a business in Singapore, you must register your business with Accounting & Corporate Regulatory Authority (ACRA) under the Business registration act. (some form of businesses are not required to register). First, you need to determine the form of your business, there are pros and cons for each:

a) Sole proprietorship

This is a basic form of organisation. There is only 1 owner, and the owner assumes all business liability. In another word,

Someone sue your business = he/she sue you

You must register under the Business Registration Act unless your business activity is exempted from registration with ACRA.

b) Partnership/Limited Liability Partnership (LLP)

Formed between 2 or more person. LLP is a relatively new vehicle for doing business in Singapore. The LLP gives the owners the flexibility of operating as a partnership whilst giving them limited liability. It combines the benefits of a partnership with those of private limited companies. To start a LLP, you must register under the Limited Liability Partnerships Act 2005.

c) Company

A company is formed when 2 or more person incorporate a business organisation under the Companies Act. If you wish to start an association/society, you should register it with the Ministry of Home Affairs via their Registry of Societies Electronic System (ROSES).

*Individuals can incorporate a company by themselves. This is called self-incorporation. For self-incorporation, the proposed directors, secretary and subscribers (shareholders) must all be Singapore NRIC holders. Alternatively, you can also engage the services of a professional firm or service bureau to assist you with the registration at a fee.

Learn more about pros and cons of different business organisations.