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Setting Up a Register Sole Proprietorship in Singapore
Start your business quickly with a structure that’s simple, affordable, and easy to manage. We handle the registration process, compliance requirements, and ongoing support, so you can focus on running and growing your venture in Singapore.
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Overview of Sole Proprietorship in Singapore
Singapore’s dynamic business environment supports ventures of all sizes, including sole proprietorships. A sole proprietorship is owned and managed by a single individual, company, or LLP, without partners, and has no separate legal entity—meaning the owner bears unlimited liability for the business’s debts and obligations.
Eligibility to Set Up a Sole Proprietorship in Singapore
Requirements
- Must be at least 18 years old.
- Can be a Singapore Citizen, Singapore Permanent Resident, or eligible FIN holder.
- Self-employed individuals must top up their Medisave account with the CPF Board before registration, becoming a new owner, or renewing the business.
- Ongoing Medisave contributions must be kept updated after registration.
Benefits of Registering a Sole Proprietorship
- Simpler registration process compared to other business structures.
- Easy sale or transfer through a name change.
- Minimal compliance requirements, reducing administrative costs.
- Straightforward accounting for those with revenue under SGD 500,000 (only a 4-line statement needed).
Foreigners Setting Up a Sole Proprietorship
- Allowed to register if residing overseas but must appoint a locally resident authorised representative.
- Those managing the business in Singapore require Ministry of Manpower approval after registration.
- Without a Singpass account, foreigners must engage a registered filing agent or corporate service provider to file on their behalf.
Process for Registering a Sole Proprietorship in Singapore
1. Choose a Business Name
Once you have identified a suitable name in line with your business activity, search BizFile+ to find out the name availability.
2. Register the Name
Once a name is chosen, register a business name via BizFile+.
3. Define Business Activities
Indicate your primary and secondary activities using the SSIC code.
4. Provide Business Address
Provide your business address, except for P.O. Box address, and for small-scale businesses, you may use your residential address.
5. Submit Residential Address
All business owners must provide their residential address at the point of registration.
6. Secure Licences and Approvals
Based on your business activity, you may need licences or approvals from other government agencies.
Why Choose IMC for Registering a Sole Proprietorship in Singapore
Expert Local Knowledge
In-depth understanding of Singapore’s registration process and compliance requirements.
Hassle-Free Setup
End-to-end assistance from name selection to securing necessary licences.
Compliance Assurance
Guidance on CPF Medisave top-ups and other statutory obligations.
Expert Local Knowledge
In-depth understanding of Singapore’s registration process and compliance requirements.
Hassle-Free Setup
End-to-end assistance from name selection to securing necessary licences.
Compliance Assurance
Guidance on CPF Medisave top-ups and other statutory obligations.
Support for Foreign Entrepreneurs
Assistance with appointing a local representative and meeting MOM requirements.
Cost-Effective Solutions
Efficient processes that save time and reduce administrative burden.
Ongoing Advisory
Continued support for renewals, changes, and compliance after registration.
Support for Foreign Entrepreneurs
Assistance with appointing a local representative and meeting MOM requirements.
Cost-Effective Solutions
Efficient processes that save time and reduce administrative burden.
Ongoing Advisory
Continued support for renewals, changes, and compliance after registration.
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FAQs
Newly registered businesses are issued a system-generated Unique Entity Number (UEN), an identification number meant for future transactions with government authorities.
The fees for sole- proprietorship business include a name application fee and registration fee totalling SGD 130 and the renewal fee is SGD 30.
Sole proprietorship registration usually takes 15 minutes for approval after the registration fee is paid. In case an application needs to be referred to another government agency for approval, it may take between 14 days to 60 days in general.
Any individual aged 18 or above who is a Singapore Citizen, Permanent Resident, or eligible FIN holder can register.
Yes, foreigners residing overseas must appoint at least one locally resident authorised representative.
It has no separate legal entity—meaning the owner is personally liable for all debts and obligations.
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