The best thing that you can do as a prospective business-owner in Singapore is form a private limited company. Since such a company is an independent legal entity it can always buy new assets or even incur debt in the process of doing business. It can sign contracts and also sue and get sued in return. The best thing about this kind of a limited liability company is that the owners will never be affected by what is happening in the business, at least in the negative sense of things. The debts or any other obligation will never bother you.
It is also easy to transfer shares in a private limited company. This means that the company can continue existing and functioning even when one or more shareholders are not there. In case, you are inexperienced you will be able to call on professional providers of incorporation services in Singapore. They will guide you through the entire process and make it very easy for you. In this form of business you can also generate capital in order to expand your business as well as for any other purpose. You can do this by getting new shareholders to join your business.
You can also serve this purpose by providing more shares for the existing shareholders. As a form of business a private limited company is much more worthy of trust for potential and existing investors than partnership firms and sole proprietorships. In this kind of a company you can easily transfer the ownership as well – either wholly or partially, as it suits you. There is no need to disturb the normal working of your company or even for any difficult legal paperwork. More important than that there are some fantastic tax incentives to be had. The tax system in this company is an exceptional one.
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