Setting up myself as a company

[Little Kiwi]

Can anyone give advice on the process
on setting up oneself as a company.  I
have been offered a position where the
company would require this.  I am currently
here under a dependents pass (does this have
something to do with it?) - or is this a tax dodge for the parent company?
Advice, thoughts and knowledge would be appreciated.  What benefits are there in it
for me in doing this.

Cheers!

[Michelle]

Have a look at the following website: http://www.gov.sg/rcb/information/
Costs involved are very low (in 1999 it was below $100.-). It gives you a lot of flexibility, as you can souce yourself out to more than 1 other company and there are a lot of possibilities for deductions.

[KimS]

Kiwi,

Look at the posting on this board called 'advice about dependancy pass' it is all about setting up you own company and how to go about it. If you have a dependancy pass it shouldn't be too difficult. If you don't have a dependancy pass you need a Singapore PR sponsor.

The company probably wants you to set your own comapny up because it saves them applying for a work permit.

[Michelle]

Most of the time people on this board talk about registering a sole proprietorship. There is a big difference between a business and a company. Cessation of a sole proprietorship (= a business) costs $15-25 only. Have a look at the RCB (registry of companies and businesses) website:
Form A= approval of name costs $15
Form B= registry of business costs $100 (+ $5 for an extract)
Form D=cessation of sole propr. costs $15-25
Renewal costs $75-105 per year (depending on payment method)
It's very easy to do and gives you the possibility of a lot a taxdeductions. I advice you to go as early as possible to the RCB as it can get very crowded after the doors open.

PS. you can download the forms already from the website.
PS. If you are being relocated, make sure you close you're sole propr. early enough for the tax office to do all the appropriate work.
PS. If you'd like to have more info -> send me an email.

[This message has been edited by Michelle (edited 17-01-2001).]