The majority of entrepreneurs chose to register their businesses in Singapore as Private Limited Companies. These firms must include the suffix ‘Private Limited,’ ‘Pte Ltd,’ or ‘Ltd’ into their company name.

Anyone over the age of 18 in Singapore may incorporate a private limited business. The Accounting and Corporate Regulatory Authority (ACRA) of Singapore is responsible for business registration. A private limited company is defined by the Singapore Companies Act as an autonomous legal entity distinct from its owners. The corporation may possess property, engage into legally binding transactions, and sue and be sued. There are several benefits to a private limited corporation over a single proprietorship.

The company’s directors and stockholders are not personally accountable for the company’s obligations. However, the company’s obligation to its creditors is infinite.