What are the different types of Business Entity in Singapore?
There are several vehicles through which businesses are traded, including as “sole trader”, “partnership”, “company”, “branch office” or possibly as a “limited liability partnership (LLP).” When setting up a business, one of the first decisions that has to be made is which vehicle is most appropriate. Often, this decision will be determined by tax considerations, the rules or regulations that apply to particular types of business, the views of your investors, banks and lenders, the market in which you plan to operate, and who you plan to be in business with. This fact sheet sets outs some of the key characteristics and differences between the most common business vehicles that are used by new businesses.
