19 Aug '12, 2am

Converting from sole proprietor to a Singapore private limited company

Converting from sole proprietor to a Singapore private limited company

(Credit: Swiss Financial Company & Trust SA) A client recently asked us how to convert their business from a sole proprietorship to a Singapore private limited company. Here’s how in four simple steps. Step 1 – Consent As the owner of the sole proprietorship, you will need to write a letter you have no objections using the business name to become the name of a private limited company. This is called a No Objection Letter and explains why you want to retain the business name and whether the same person owns it. Step 2 – Incorporate a private limited company For most formations, the fee is around S$1,000-2,000, depending on your requirement. At the very least, you will need a registered mailing address, one local resident to be a director and appoint a company secretary within six months of incorporating. As soon as the private limited company is formed, the owner needs to c...

Full article: http://e27.sg/2012/08/19/converting-from-sole-proprietor-...

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