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Sole Proprietorship

Simplest structure for one-person businesses

Liability

Unlimited personal

Owners

1 individual

Setup Time

1 day

ACRA Fee

S$100 (1-yr) / S$160 (3-yr)

A sole proprietorship is the simplest business structure in Singapore, owned by one individual. It is not a separate legal entity — the owner and the business are the same. Easy to set up and inexpensive to maintain, but the owner bears unlimited personal liability for all business debts.

Best for

Solo freelancers, consultants, and very small businesses with low risk

Advantages

Lowest setup cost
Minimal compliance requirements
Full control over decisions
Simple tax — profits taxed as personal income

Considerations

Unlimited personal liability
Cannot raise equity investment
No perpetual succession
Harder to get business loans or credit

This is an independent guide — not a government website and not legal or tax advice. Official registration is done on ACRA Bizfile. Always verify current requirements on the relevant .gov.sg portal.