If you run any business in Singapore, it is important to incorporate as a company in order to enjoy business benefits, tax breaks and personal liability protection.
1. Save on your company taxes A newly incorporated company will enjoy full tax exemption on the first $100,000 of Chargeable Income for qualifying new companies for the first three years of assessment consecutively.
2. Safeguard your personal assets As being legally separated from its individual owners, a private limited company accords a certain level of protection for the owners in the event of company closure or lawsuits. This is the main reason individuals choose to incorporate their business in order to protect their personal assets.
3. Transferring of ownership is easy The operations of a company will not be disturbed in the event of the death of a shareholder or director. The shareholding will be easily transferred to another owner.
4. Credibility in the eyes of your clients An incorporated company enjoys better standing in the eyes of the public and amongst the overall business fraternity.
Incorporate a businesses to protect your personal assets, such as family, car or family savings. In the event of litigation or business failures, the personal assets of directors can not be touched. This limited liability protection is a key characteristic of the private limited liability company, and this protections is not available in sole-proprietorships or partnerships, where the individual or partners are personally responsible for all business debts.
Therefore, we would encourage anyone wanting to start a business, to consider incorporating or setting up a company, in particular a 'Private Limited' company. Call us to find out more. We would be glad to assist you in making the incorporation of your new company as seamless and smooth as possible. - 15246
1. Save on your company taxes A newly incorporated company will enjoy full tax exemption on the first $100,000 of Chargeable Income for qualifying new companies for the first three years of assessment consecutively.
2. Safeguard your personal assets As being legally separated from its individual owners, a private limited company accords a certain level of protection for the owners in the event of company closure or lawsuits. This is the main reason individuals choose to incorporate their business in order to protect their personal assets.
3. Transferring of ownership is easy The operations of a company will not be disturbed in the event of the death of a shareholder or director. The shareholding will be easily transferred to another owner.
4. Credibility in the eyes of your clients An incorporated company enjoys better standing in the eyes of the public and amongst the overall business fraternity.
Incorporate a businesses to protect your personal assets, such as family, car or family savings. In the event of litigation or business failures, the personal assets of directors can not be touched. This limited liability protection is a key characteristic of the private limited liability company, and this protections is not available in sole-proprietorships or partnerships, where the individual or partners are personally responsible for all business debts.
Therefore, we would encourage anyone wanting to start a business, to consider incorporating or setting up a company, in particular a 'Private Limited' company. Call us to find out more. We would be glad to assist you in making the incorporation of your new company as seamless and smooth as possible. - 15246
About the Author:
Incorporating a Singapore company can seem like a daunting task. However, you may contact us at +(65) 9271-7739 or email us at incorporate@maplecommerce.com or visit our website http://incorporate.maplecommerce.com to get expert help on how to incorporate a Singapore company or business.
