With regards to the business structure in Singapore, a sole proprietorship is the most business entity form to go with. However, ensure that this element choice is fitting for small businesses since it just comprises single proprietor. Also, on the grounds that this is a solitary proprietorship sort of business, you will have no constrained obligation assurance as your benefits won't be shielded from any business chances that you may look at the season of your business.
Still, you are confused? No need to worry when Stephen M.S Lai & Co CPA Limited is with you. Our team will show you the right path.What do you need to know about sole proprietorship?
Are you still chaotic about setting up a sole proprietorship in China? That is why we are providing you some of the benefits of it's since before starting anything new, it is always good to have full information and facts in hand so you can make an informed decision. Some tips are stated below. Have a look at it
- A sole proprietorship is not a separate legal entity, so there is no difference between the owner and the proprietor.
- As per the sole proprietorship, it is mandatory for you be 18 years above before you can register.
- Registration of this sort of business substance should be renewed every year.
- Sole proprietorship asks for the local business address.
- Accounts under the entity do not need to be audited.
So, these are some of the benefits that you will attain at the time of setting up a sole proprietorship in HK
. Despite this, once a sole proprietorship business has been successfully registered, then our team will help you in opening a bank account.