Sole Proprietorship Registration

Sole Proprietorship Registration

Sole Proprietorship Registration

1) Who can register sole proprietorship?

a) Nature person: a1) At least 18 years old; and a2) A Singapore  Citizen, Singapore PR   or an EntrePass Holder  

b) Foreigner: Foreigners who are residing overseas and want to register either a sole proprietorship must appoint at least one locally resident authorised representative. 

c) Company: Local Company maybe acceptable as owner of sole proprietorship

2) Restriction

If you are currently self-employed, you must top up your Medisave account with the CPF Board before you register a business, become a new owner of an existing business, or renew your business registration. 

If you are a self-employed person and earn a yearly net trade income of more than $6,000 a year, you need to contribute to MediSave. Your MediSave payable is based on your age and net trade income for the year.

Source from: ACRA & CPF website

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