Registration and Compliance
When a person wishes to carry on business in Singapore as a sole proprietor, he or she must first apply to private listed companies in accordance with the provisions of the Business Registration Act (Cap 32). This may be done by completing and submitting the relevant forms electronically using ACRA’s e-filing portal, Bizfile. The documents may be filed personally online or at ACRA (Accounting and Corporate Regulatory Authority) or with the help of a professional firm of lawyers, accountants, chartered secretaries, or service bureau. Subsequently, the proprietor must comply with all the requirements set out under the Business Registration Act such as the filling of changes in particulars of the business and its owner.
Under regulations made pursuant to the Business Registration Act, the Registrar may require a business owner who is not ordinarily resident in Singapore to appoint a local manager to be appointed.
Cessation of Sole-Proprietorship Business
A sole-proprietorship business will cease when the proprietor either dies or otherwise ceases to carry on business. The Business Registration Act requires any person registered under it that has ceased to carry on business to notify the Registrar of this. Failing to do so is an offense and may result in the imposition of a fine.