{"id":50986,"date":"2026-08-13T10:12:40","date_gmt":"2026-08-13T10:12:40","guid":{"rendered":"https:\/\/www.you.co\/biz\/?p=50986"},"modified":"2026-08-13T10:12:40","modified_gmt":"2026-08-13T10:12:40","slug":"sole-proprietorship-vs-pte-ltd","status":"publish","type":"post","link":"https:\/\/www.you.co\/biz\/blog\/sole-proprietorship-vs-pte-ltd\/","title":{"rendered":"Sole Proprietorship vs Pte Ltd Singapore: Which to Register"},"content":{"rendered":"\n

The choice comes down to risk, tax, and what changes once profit passes S$100,000<\/strong><\/h2>\n\n\n\n
<\/div>\n\n\n\n

A sole proprietorship<\/strong> costs S$115<\/strong> to register with ACRA and is not a separate legal entity. Every dollar of profit lands on your personal income tax bill, at rates that climb to 24%<\/strong>.<\/p>\n\n\n\n

<\/div>\n\n\n\n

A Pte Ltd<\/strong> costs S$315<\/strong> and is legally separate from you. It pays a flat 17%<\/strong> corporate tax, and a start-up exemption brings the effective rate on your first S$100,000 of profit down to 4.25%<\/strong> for the first three years.<\/p>\n\n\n\n

<\/div>\n\n\n\n

The trade-off is admin. A Pte Ltd needs a resident director, a company secretary appointed within six months, and annual filings to both ACRA and IRAS. A sole proprietorship needs none of that.<\/p>\n\n\n\n

<\/div>\n\n\n\n

Neither structure is better in every case. A Pte Ltd is worth the extra cost once you have assets or income to protect. Before that, you’re paying for protection you don’t need yet.<\/p>\n\n\n\n

<\/div>\n\n\n\n
<\/div>\n\n\n\n

Quick Answers: Cost, Liability, Tax and When to Switch<\/strong><\/h2>\n\n\n\n
<\/div>\n\n\n\n
Question<\/strong><\/th>Short Answer<\/strong><\/th><\/tr><\/thead>
Which is cheaper to start?<\/strong><\/td>Sole proprietorship, by S$200 in year one. The gap closes fast once you add a company secretary.<\/td><\/tr>
Which protects my savings?<\/strong><\/td>Only a Pte Ltd. A sole proprietorship puts your personal assets on the line for business debts.<\/td><\/tr>
Which pays less tax?<\/strong><\/td>Pte Ltd, once profits pass roughly S$100,000 a year. Below that, the difference is small.<\/td><\/tr>
Which is less work?<\/strong><\/td>Sole proprietorship. One renewal, one personal tax return, no secretary, no annual return.<\/td><\/tr>
When should I switch?<\/strong><\/td>When you start signing real contracts, hiring, taking on debt, or raising money.<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n
<\/div>\n\n\n\n

Many founders choose on registration cost alone. They pick the sole proprietorship because it’s S$200 cheaper, then carry unlimited personal liability on client contracts worth far more than that. The registration fee is the smallest number in this comparison.<\/p>\n\n\n\n

<\/div>\n\n\n\n

Table of Contents<\/strong><\/h2>\n\n\n\n
<\/div>\n\n\n\n
    \n
  1. What Is a Sole Proprietorship<\/strong><\/a><\/li>\n\n\n\n
  2. What Is a Pte Ltd Company<\/strong><\/a><\/li>\n\n\n\n
  3. Sole Proprietorship vs Pte Ltd: The Key Differences<\/strong><\/a><\/li>\n\n\n\n
  4. Liability: What You’re Personally Responsible For<\/strong><\/a><\/li>\n\n\n\n
  5. Tax: Which Structure Costs You Less?<\/strong><\/a><\/li>\n\n\n\n
  6. Setup Costs and Ongoing Compliance<\/strong><\/a><\/li>\n\n\n\n
  7. The Disadvantages of a Sole Proprietorship<\/strong><\/a><\/li>\n\n\n\n
  8. When a Sole Proprietorship Still Makes Sense<\/strong><\/a><\/li>\n\n\n\n
  9. How to Convert a Sole Proprietorship to a Pte Ltd<\/strong><\/a><\/li>\n\n\n\n
  10. Which One Should You Choose<\/strong><\/a><\/li>\n\n\n\n
  11. Where to Keep Your Business Money<\/strong><\/a><\/li>\n\n\n\n
  12. FAQs<\/strong><\/a><\/li>\n<\/ol>\n\n\n\n
    <\/div>\n\n\n\n

    What Is a Sole Proprietorship?<\/strong><\/h2>\n\n\n\n
    <\/div>\n\n\n\n

    A sole proprietorship is a business owned and run by one person, registered with ACRA. In law, you and the business are one and the same. It doesn’t own its assets or owe its debts; you do.<\/p>\n\n\n\n

    <\/div>\n\n\n\n

    Every other difference between the two structures traces back to that.<\/p>\n\n\n\n

    <\/div>\n\n\n\n

    If you’re already freelancing and invoicing clients under your own name, you’re operating as a sole proprietor in substance. Registering with ACRA makes it official and gives you a Unique Entity Number. That number is what lets you open a business account, sign contracts under a trading name, and apply for licences.<\/p>\n\n\n\n

    <\/div>\n\n\n\n

    Who can register one:<\/strong> you need to be an owner of the business. If none of the owners lives in Singapore, you’ll need to appoint an authorised representative who is ordinarily resident here.<\/p>\n\n\n\n

    <\/div>\n\n\n\n

    How long it lasts:<\/strong> registration runs for one year at S$100, or three years at S$160 if you meet the conditions set by the CPF Board. You have to renew it before it expires. That’s the only ongoing obligation.<\/p>\n\n\n\n

    <\/div>\n\n\n\n

    Best for:<\/strong> freelancers, consultants, and side hustles testing whether an idea earns money before committing to a company structure.<\/p>\n\n\n\n

    <\/div>\n\n\n\n

    What Is a Pte Ltd Company?<\/strong><\/h2>\n\n\n\n
    <\/div>\n\n\n\n

    Pte Ltd stands for Private Limited, and it means a private company limited by shares. It’s a separate legal entity from the people who own it. The company signs its own contracts, owns its own assets, owes its own debts, and files its own tax return.<\/p>\n\n\n\n

    <\/div>\n\n\n\n

    You can own all of it and work in it alone. A Pte Ltd doesn’t require employees, an office, or co-founders.<\/p>\n\n\n\n

    <\/div>\n\n\n\n

    What the law requires:<\/strong><\/p>\n\n\n\n

    <\/div>\n\n\n\n
      \n
    • At least one director who is ordinarily resident in Singapore and at least 18 years old<\/li>\n\n\n\n
    • A company secretary appointed within six months of incorporation, who cannot be the same person as the sole director<\/li>\n\n\n\n
    • At least one issued share<\/li>\n\n\n\n
    • Maximum 50 shareholders for a private company limited by shares. With no corporate shareholders and no more than 20 individual members, you’re an exempt private company, which is what most small Singapore businesses are<\/li>\n<\/ul>\n\n\n\n
      <\/div>\n\n\n\n

      What you file every year:<\/strong> an annual return to ACRA at S$60, plus Estimated Chargeable Income and a corporate tax return to IRAS.<\/p>\n\n\n\n

      <\/div>\n\n\n\n

      Most small companies don’t need an audit. You qualify for a small company audit exemption if you’re a private company and meet at least two of these three criteria over the past two consecutive financial years:<\/p>\n\n\n\n

      <\/div>\n\n\n\n
        \n
      • Total annual revenue of S$10 million or less<\/li>\n\n\n\n
      • Total assets of S$10 million or less<\/li>\n\n\n\n
      • 50 employees or fewer<\/li>\n<\/ul>\n\n\n\n
        <\/div>\n\n\n\n

        Best for:<\/strong> businesses signing contracts, hiring, carrying inventory, taking on debt, or planning to raise money.<\/p>\n\n\n\n

        <\/div>\n\n\n\n

        Sole Proprietorship vs Pte Ltd: The Key Differences<\/strong><\/h2>\n\n\n\n
        <\/div>\n\n\n\n
        <\/th>Sole Proprietorship<\/strong><\/th>Pte Ltd<\/strong><\/th><\/tr><\/thead>
        Legal status<\/strong><\/td>Not a separate entity; you are the business<\/td>Separate legal entity<\/td><\/tr>
        Liability<\/strong><\/td>Unlimited. Personal assets are exposed<\/td>Limited to what you put into the company<\/td><\/tr>
        Tax rate<\/strong><\/td>Personal income tax, 0% to 24% progressive<\/td>Flat 17% corporate tax<\/td><\/tr>
        Tax relief<\/strong><\/td>Personal reliefs only<\/td>Start-up exemption, then partial exemption<\/td><\/tr>
        Registration cost<\/strong><\/td>S$15 name + S$100 for one year<\/td>S$15 name + S$300<\/td><\/tr>
        Ongoing ACRA cost<\/strong><\/td>S$30 renewal<\/td>S$60 annual return<\/td><\/tr>
        Company secretary<\/strong><\/td>Not required<\/td>Required within six months<\/td><\/tr>
        Owners<\/strong><\/td>One<\/td>Up to 50 shareholders<\/td><\/tr>
        Raising money<\/strong><\/td>Cannot issue shares<\/td>Can issue shares to investors<\/td><\/tr>
        Name protection<\/strong><\/td>Registered name only<\/td>Company name is protected<\/td><\/tr>
        Continuity<\/strong><\/td>Ends with the owner<\/td>Survives changes in ownership<\/td><\/tr>
        Public disclosure<\/strong><\/td>Owner details on ACRA records<\/td>Officers, shareholders and filings on ACRA records<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n
        <\/div>\n\n\n\n

        Fees quoted are ACRA’s published rates. Verify current fees on ACRA’s site before you file.<\/em><\/p>\n\n\n\n

        <\/div>\n\n\n\n

        \u2696\ufe0f The sole proprietorship wins on cost and simplicity. Those are small, fixed savings. The Pte Ltd wins on liability, tax and funding, and those benefits grow as your business grows.<\/p>\n\n\n\n

        <\/div>\n\n\n\n

        Liability: What You’re Personally Responsible For<\/strong><\/h2>\n\n\n\n
        <\/div>\n\n\n\n

        This is the most important difference between the two structures.<\/p>\n\n\n\n

        <\/div>\n\n\n\n

        As a sole proprietor, there is no line between business money and personal money. A client who sues, a supplier you can’t pay, a loan that goes bad: all of it can reach your personal bank account, your car, and in the worst case, your home. If the business owes money, you owe money.<\/p>\n\n\n\n

        <\/div>\n\n\n\n

        With a Pte Ltd, the company owes the money instead of you. A shareholder normally stands to lose only what they put into the company.<\/p>\n\n\n\n

        <\/div>\n\n\n\n

        That protection isn’t absolute. Three things can put your personal assets back at risk:<\/p>\n\n\n\n

        <\/div>\n\n\n\n
          \n
        • Personal guarantees.<\/strong> Lenders and landlords often ask for these from young companies. If you personally guarantee a company loan or a lease, you’ve agreed to cover that debt yourself.

          <\/li>\n\n\n\n
        • Director’s duties.<\/strong> Directors have legal duties. Trading while insolvent, fraud, or serious breaches of those duties can make a director personally liable.

          <\/li>\n\n\n\n
        • Your own negligence.<\/strong> Incorporating doesn’t protect you from the consequences of something you personally did wrong.<\/li>\n<\/ul>\n\n\n\n
          <\/div>\n\n\n\n

          What this means for you:<\/strong> if your business could ever owe more than you could comfortably pay, the S$200 you save on registration isn’t worth it. If the worst realistic outcome is a client not paying an invoice, it probably is.<\/p>\n\n\n\n

          <\/div>\n\n\n\n

          Tax: Which Structure Costs You Less?<\/strong><\/h2>\n\n\n\n
          <\/div>\n\n\n\n

          Yes, a sole proprietorship pays tax in Singapore. Your business profit is added to your personal income and taxed at resident personal rates, which run from 0% on the first S$20,000 up to 24% on income above S$1 million. You declare it on your personal tax return.<\/p>\n\n\n\n

          <\/div>\n\n\n\n

          A Pte Ltd is taxed separately at a flat 17% on chargeable income. Two exemption schemes reduce that further:<\/p>\n\n\n\n

          <\/div>\n\n\n\n
            \n
          • Start-up tax exemption<\/strong>, for the first three consecutive Years of Assessment: 75% exemption on the first S$100,000 of normal chargeable income, and a further 50% on the next S$100,000. Maximum exemption S$125,000 a year. That works out to an effective 4.25% on the first S$100,000 and 8.5% on the next S$100,000.

            <\/li>\n\n\n\n
          • Partial tax exemption<\/strong>, which every company not claiming the start-up exemption gets, including yours once the three start-up years are up: 75% on the first S$10,000 and 50% on the next S$190,000, for a maximum exemption of S$102,500.<\/li>\n<\/ul>\n\n\n\n
            <\/div>\n\n\n\n

            Not every company qualifies for the start-up scheme. You need to be incorporated in Singapore and be a Singapore tax resident for that Year of Assessment.<\/p>\n\n\n\n

            <\/div>\n\n\n\n

            You also need no more than 20 shareholders, with either all of them individuals, or at least one individual holding 10% or more of the ordinary shares. Investment holding companies and property developers don’t qualify at all.<\/p>\n\n\n\n

            <\/div>\n\n\n\n

            What That Looks Like in Real Money<\/strong><\/h3>\n\n\n\n
            <\/div>\n\n\n\n

            Two businesses, same profit, same year, first three Years of Assessment for the company.<\/p>\n\n\n\n

            <\/div>\n\n\n\n
            Annual profit<\/strong><\/th>Sole proprietorship<\/strong><\/th>Pte Ltd (start-up exemption)<\/strong><\/th>Difference<\/strong><\/th><\/tr><\/thead>
            S$120,000<\/td>S$7,950<\/td>S$5,950<\/td>S$2,000<\/td><\/tr>
            S$250,000<\/td>S$30,700<\/td>S$21,250<\/td>S$9,450<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n
            <\/div>\n\n\n\n

            Assumes the owner has no other income and claims no personal reliefs, and that the company retains its profits. Your actual figures will differ. Personal reliefs reduce the sole proprietorship number, sometimes substantially.<\/em><\/p>\n\n\n\n

            <\/div>\n\n\n\n

            At S$120,000 of profit, the S$2,000 saving roughly covers what you’ll spend on a company secretary and the extra filings. At S$250,000, the savings are large enough to matter, and you get it again every profitable year.<\/p>\n\n\n\n

            <\/div>\n\n\n\n

            \ud83d\udca1 How you take the money out changes the answer too. A Pte Ltd can pay you three ways: salary, director’s fees, or dividends. Singapore runs a one-tier tax system, so dividends paid out of already-taxed company profits aren’t taxed again in your hands. Salary is taxed at your personal rate and carries CPF contributions. Ask an accountant which mix suits you once your profits get meaningful.<\/p>\n\n\n\n

            <\/div>\n\n\n\n

            Where the tax advantage disappears:<\/strong> if you take every dollar of profit as salary in the year you earn it, you’re taxed at personal rates anyway, and the company structure saves you little. The Pte Ltd advantage is strongest when profits stay in the business or come out as dividends.<\/p>\n\n\n\n

            <\/div>\n\n\n\n

            Setup Costs and Ongoing Compliance<\/strong><\/h2>\n\n\n\n
            <\/div>\n\n\n\n

            What You Pay ACRA, and How Long It Typically Takes<\/strong><\/h3>\n\n\n\n
            <\/div>\n\n\n\n

            Sole proprietorship:<\/strong> S$15 for the business name application, then S$100 for one year of registration or S$160 for three years. The three-year option is only available if you meet the CPF Board’s conditions. Renewing for another year costs S$30. First-year total: S$115.<\/p>\n\n\n\n

            <\/div>\n\n\n\n

            Pte Ltd:<\/strong> S$15 for the name application, then S$300 to incorporate. The annual return costs S$60. First-year total: S$315.<\/p>\n\n\n\n

            <\/div>\n\n\n\n

            Both are quick. ACRA reviews your proposed name in up to three working days, and most registrations are approved soon after payment.<\/p>\n\n\n\n

            <\/div>\n\n\n\n

            Delays usually come from another agency needing to review your application. A complex registration can take up to 15 working days, and anything referred to another government agency for approval takes 14 to 60 days. Once your name is approved, you have 120 days to register the business before it’s released for someone else to take.<\/p>\n\n\n\n

            <\/div>\n\n\n\n

            What You Pay Everyone Else<\/strong><\/h3>\n\n\n\n
            <\/div>\n\n\n\n

            ACRA’s fees are the smaller part of the cost. The bigger difference is what you pay outside ACRA.<\/p>\n\n\n\n

            <\/div>\n\n\n\n

            A Pte Ltd<\/strong> must appoint a company secretary within six months, and that person cannot be your sole director. Most small companies outsource this to a corporate service provider on an annual retainer, so budget for it before you incorporate.<\/p>\n\n\n\n

            <\/div>\n\n\n\n

            Many founders also pay for bookkeeping and tax filing support, since a company files Estimated Chargeable Income, a corporate tax return, and an annual return every year.<\/p>\n\n\n\n

            <\/div>\n\n\n\n

            A sole proprietorship<\/strong> has none of that. You renew when it expires and declare the profit on your personal tax return.<\/p>\n\n\n\n

            <\/div>\n\n\n\n

            Where Your Business Is Registered<\/strong><\/h3>\n\n\n\n
            <\/div>\n\n\n\n

            Both structures need a registered address. For most founders, the question is whether they can use their home address.<\/p>\n\n\n\n

            <\/div>\n\n\n\n

            You can, under the Home Office Scheme, but you have to register first. Owners, tenants and authorised occupants of an HDB flat register with HDB; the same group in a private residential property registers with URA. The scheme covers small-scale, administrative work only, and clients and customers aren’t allowed to visit the premises.<\/p>\n\n\n\n

            <\/div>\n\n\n\n

            There’s also a privacy issue. Business owner and officer details go into ACRA’s public records, so anyone can look them up.<\/p>\n\n\n\n

            <\/div>\n\n\n\n

            You can register a contact address<\/strong> instead. That’s the one displayed publicly, while ACRA’s official correspondence still goes to your residential address. There’s no fee for it. It has to be a place where you can receive mail, in the same jurisdiction as your residential address, and it can’t be a P.O. Box.<\/p>\n\n\n\n

            <\/div>\n\n\n\n

            What Both Structures Share<\/strong><\/h3>\n\n\n\n
            <\/div>\n\n\n\n

            Two obligations apply either way, and people are often surprised by them:<\/p>\n\n\n\n

            <\/div>\n\n\n\n
              \n
            • GST registration.<\/strong> You must register for GST, currently charged at 9%, once your taxable turnover exceeds S$1 million, whether measured over the past calendar year or expected over the next 12 months. This applies to sole proprietorships and companies alike. You can also register voluntarily below the threshold, which can be worth it if you’re paying a lot of GST on what you buy.

              <\/li>\n\n\n\n
            • CPF MediSave.<\/strong> As a sole proprietor, you’re a self-employed person, so if your yearly net trade income is more than S$6,000, you must make MediSave contributions. In a Pte Ltd, if you pay yourself a salary, you’re an employee of your own company and full CPF contributions apply.<\/li>\n<\/ul>\n\n\n\n
              <\/div>\n\n\n\n

              The Disadvantages of a Sole Proprietorship<\/strong><\/h2>\n\n\n\n
              <\/div>\n\n\n\n

              These are the six limits that matter before you register one.<\/p>\n\n\n\n

              <\/div>\n\n\n\n
                \n
              1. Unlimited personal liability.<\/strong> Business debts are your debts. This is the big one, and everything else is a distant second.
                <\/li>\n\n\n\n
              2. You pay personal tax rates on business profit.<\/strong> No corporate rate, no start-up exemption, and the rate climbs as you earn more.
                <\/li>\n\n\n\n
              3. You can’t raise equity.<\/strong> There are no shares to sell, so external investors have nothing to buy. A serious funding round means incorporating first.
                <\/li>\n\n\n\n
              4. Less credibility with larger counterparties.<\/strong> Some corporate clients, landlords and lenders prefer to contract with an incorporated entity, and a few won’t deal with a sole proprietorship at all.
                <\/li>\n\n\n\n
              5. No continuity.<\/strong> The registration is tied to you. It ends when you do, and it can’t be sold or transferred as a going concern the way company shares can.
                <\/li>\n\n\n\n
              6. It expires.<\/strong> Miss the renewal and your registration lapses, along with the UEN your bank account and licences are tied to.<\/li>\n<\/ol>\n\n\n\n
                <\/div>\n\n\n\n

                When a Sole Proprietorship Still Makes Sense<\/strong><\/h2>\n\n\n\n
                <\/div>\n\n\n\n

                None of that makes it the wrong choice. For many small businesses, it’s the right one.<\/p>\n\n\n\n

                <\/div>\n\n\n\n

                Register a sole proprietorship if most of these are true:<\/strong><\/p>\n\n\n\n

                <\/div>\n\n\n\n
                  \n
                • You’re testing an idea and don’t yet know whether it earns<\/li>\n\n\n\n
                • Your profit is comfortably under S$100,000 a year, where the tax gap is small<\/li>\n\n\n\n
                • Your work carries low liability, so the realistic worst case is an unpaid invoice<\/li>\n\n\n\n
                • You have no employees and no plans to hire soon<\/li>\n\n\n\n
                • You’d rather spend your time on the business than on compliance<\/li>\n\n\n\n
                • You aren’t raising money<\/li>\n<\/ul>\n\n\n\n
                  <\/div>\n\n\n\n

                  Plenty of consultants and freelancers run this way for years, and they’re right to. The problem is staying a sole proprietorship after the business has outgrown it.<\/p>\n\n\n\n

                  <\/div>\n\n\n\n

                  How to Convert a Sole Proprietorship to a Pte Ltd<\/strong><\/h2>\n\n\n\n
                  <\/div>\n\n\n\n

                  You can’t actually convert one into the other. Singapore law currently doesn’t allow a sole proprietorship to become a company, so what you’re really doing is starting a company and closing the old business. You can indicate on the incorporation form that the new company is taking over the previous business’s commercial activities.<\/p>\n\n\n\n

                  <\/div>\n\n\n\n

                  The sequence looks like this:<\/p>\n\n\n\n

                  <\/div>\n\n\n\n

                  <\/p>

                  1. Incorporate the new Pte Ltd<\/strong>

                    Apply for the name and register the company with ACRA. If you want to keep trading under the same name, check that it’s available for the new entity first.<\/p> <\/li>

                  2. Move the business across<\/strong>

                    Transfer assets, contracts, and client relationships to the company. Clients and suppliers need to be told they’re now contracting with a new legal entity, and some agreements will need to be reassigned or re-signed.<\/p> <\/li>

                  3. Sort out banking and licences<\/strong>

                    The company has a new UEN, so business accounts, payment providers, and any industry licences need to be opened or transferred under it.<\/p> <\/li>

                  4. Cease the sole proprietorship<\/strong>

                    File the cessation with ACRA through Bizfile. It takes effect immediately and can’t be reversed, so do this last.<\/p> <\/li>

                  5. Handle GST if it applies<\/strong>

                    If the sole proprietorship was GST-registered, you’ll need to cancel that registration with IRAS, and register the company separately if it crosses the threshold.<\/p> <\/li><\/ol><\/div>\n\n\n\n

                    <\/div>\n\n\n\n

                    Time it around your financial year if you can.<\/strong> Switching mid-year means two sets of books and two tax positions for the same twelve months, which makes your first company filing more complicated than it needs to be.<\/p>\n\n\n\n

                    <\/div>\n\n\n\n

                    Which One Should You Choose?<\/strong><\/h2>\n\n\n\n
                    <\/div>\n\n\n\n

                    Choose a sole proprietorship if<\/strong> you’re testing an idea, working alone, earning under roughly S$100,000 in profit, and your work can’t realistically generate a debt bigger than you could pay yourself. Register it, keep your admin light, and revisit the decision when the numbers change.<\/p>\n\n\n\n

                    <\/div>\n\n\n\n

                    Choose a Pte Ltd if<\/strong> any one of these is true: you’re signing contracts with real financial exposure, you’re hiring, you’re taking on debt or inventory, you’re raising money, or your profit is heading past S$100,000 a year. The extra cost buys you liability protection and a lower tax rate, and both matter more as the business grows.<\/p>\n\n\n\n

                    <\/div>\n\n\n\n

                    \ud83d\udc49 Bottom line:<\/strong> most people compare the tax saving, but liability protection is what should decide it. If you’d lose sleep over your business owing money you can’t cover, incorporate. If you wouldn’t, a sole proprietorship is a sensible place to start.<\/p>\n\n\n\n

                    <\/div>\n\n\n\n

                    This is general information, not tax or legal advice. Your circumstances change the answer, so check with a qualified accountant or corporate service provider before you register.<\/em><\/p>\n\n\n\n

                    <\/div>\n\n\n\n

                    Where to Keep Your Business Money<\/strong><\/h2>\n\n\n\n
                    <\/div>\n\n\n\n

                    Whichever structure you choose, you’ll need somewhere to hold business money that isn’t your personal account.<\/p>\n\n\n\n

                    <\/div>\n\n\n\n

                    For a Pte Ltd, this isn’t optional. If the company’s money and your money sit in the same account, the legal separation you paid to create is much harder to defend. For a sole proprietorship, it’s still worth doing, because clean books make your tax return, your MediSave assessment, and any future incorporation much easier.<\/p>\n\n\n\n

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                    YouBiz is a multi-currency business account built for that job<\/strong>, and it works for both structures. We onboard Private Limited companies, sole proprietorships registered with ACRA, and partnerships and LLPs.<\/p>\n\n\n\n

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                    What you get:<\/strong><\/p>\n\n\n\n

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