{"id":879,"date":"2023-06-08T09:06:22","date_gmt":"2023-06-08T09:06:22","guid":{"rendered":"https:\/\/opencompanysingapore.com\/how-to-change-your-business-structure-in-singapore\/"},"modified":"2023-07-13T12:43:07","modified_gmt":"2023-07-13T12:43:07","slug":"how-to-change-your-business-structure-in-singapore","status":"publish","type":"post","link":"https:\/\/opencompanysingapore.com\/how-to-change-your-business-structure-in-singapore\/","title":{"rendered":"How to Change Your Business Structure in Singapore"},"content":{"rendered":"\n<p>The&nbsp;<strong><a href=\"https:\/\/www.opencompanysingapore.com\/company-act-in-singapore\" target=\"_blank\" rel=\"noreferrer noopener\">Singapore Company Law<\/a><\/strong>&nbsp;provides for various types of legal structures foreign investors can use in order to&nbsp;<strong>form a company<\/strong>&nbsp;in the city-state. Those wanting to start small can register as sole proprietors and then upgrade their business by&nbsp;<strong>changing company types<\/strong>. The following types of structures, apart from sole traders, can be employed by those wanting to&nbsp;<a href=\"https:\/\/www.opencompanysingapore.com\/\" target=\"_blank\" rel=\"noreferrer noopener\"><strong>open a company in Singapore<\/strong><\/a>:<\/p>\n\n\n\n<ul>\n<li>&#8211;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; partnerships, which can be general or limited;<\/li>\n\n\n\n<li>&#8211;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; limited liability partnerships;<\/li>\n\n\n\n<li>&#8211;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; private and public limited liability companies.<\/li>\n<\/ul>\n\n\n\n<p>Our&nbsp;<strong><a href=\"https:\/\/www.opencompanysingapore.com\/about-us\" target=\"_blank\" rel=\"noreferrer noopener\">company registration agents in Singapore<\/a><\/strong>&nbsp;offer&nbsp;<strong>company formation services<\/strong>&nbsp;for any of the types of structures above. Our team can also help you in case you need company&nbsp;<a href=\"https:\/\/www.opencompanysingapore.com\/company-liquidation-in-singapore\" target=\"_blank\" rel=\"noreferrer noopener\"><strong>liquidation services in Singapore<\/strong><\/a>.<\/p>\n\n\n\n<p>The video below shows you how you can&nbsp;<strong>change business forms in Singapore<\/strong>:<\/p>\n\n\n\n<figure class=\"wp-block-embed is-type-video is-provider-youtube wp-block-embed-youtube wp-embed-aspect-4-3 wp-has-aspect-ratio\"><div class=\"wp-block-embed__wrapper\">\n<iframe loading=\"lazy\" title=\"How to Change Business Structure in Singapore\" width=\"840\" height=\"630\" src=\"https:\/\/www.youtube.com\/embed\/YYEUB8i97Ps?feature=oembed\" frameborder=\"0\" allow=\"accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share\" allowfullscreen><\/iframe>\n<\/div><\/figure>\n\n\n\n<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_65 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\">\n<p class=\"ez-toc-title \" >Table of Contents<\/p>\n<span class=\"ez-toc-title-toggle\"><a href=\"#\" class=\"ez-toc-pull-right ez-toc-btn ez-toc-btn-xs ez-toc-btn-default ez-toc-toggle\" aria-label=\"Toggle Table of Content\"><span class=\"ez-toc-js-icon-con\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #002e5b;color:#002e5b\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #002e5b;color:#002e5b\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/span><\/a><\/span><\/div>\n<nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/opencompanysingapore.com\/how-to-change-your-business-structure-in-singapore\/#steps-to-take-in-order-to-change-business-forms-presented-by-our-experts-in-opening-companies-in-singapore\" title=\"Steps to take in order to change business forms presented by our experts in opening companies in Singapore\">Steps to take in order to change business forms presented by our experts in opening companies in Singapore<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/opencompanysingapore.com\/how-to-change-your-business-structure-in-singapore\/#why-do-foreign-investors-change-company-types-in-singapore\" title=\"Why do foreign investors change company types in Singapore?\">Why do foreign investors change company types in Singapore?<\/a><\/li><\/ul><\/nav><\/div>\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"steps-to-take-in-order-to-change-business-forms-presented-by-our-experts-in-opening-companies-in-singapore\"><\/span><strong>Steps to take in order to change business forms presented by our experts in opening companies in Singapore<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>Foreign investors&nbsp;<strong>opening a&nbsp;small company&nbsp;in Singapore<\/strong>&nbsp;usually&nbsp;<strong>change<\/strong>&nbsp;from sole traders to&nbsp;<strong><a href=\"https:\/\/www.opencompanysingapore.com\/set-up-limited-liability-in-singapore\" target=\"_blank\" rel=\"noreferrer noopener\">limited liability companies<\/a><\/strong>, once their activities expand. The Company Law in Singapore does not provide for&nbsp;<strong>direct changes of business forms<\/strong>, which is why in order to&nbsp;<strong>switch between company types<\/strong>, one must de-register a company and then incorporate a new one. Our&nbsp;<strong>Singapore company formation agents<\/strong>&nbsp;present four main steps to take when&nbsp;<strong>changing&nbsp;<a href=\"https:\/\/www.opencompanysingapore.com\/types-of-companies-in-singapore\" target=\"_blank\" rel=\"noreferrer noopener\">company types in this jurisdiction<\/a><\/strong>:<\/p>\n\n\n\n<ul>\n<li>&#8211;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; de-register the first company;<\/li>\n\n\n\n<li>&#8211;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; register a new company in Singapore;<\/li>\n\n\n\n<li>&#8211;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; transfer the assets and contracts from the old company to the new one;<\/li>\n\n\n\n<li>&#8211;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; apply for the necessary business licenses.<\/li>\n<\/ul>\n\n\n\n<p>Considering the need to&nbsp;<strong>apply for new business licenses<\/strong>&nbsp;when changing company types, it is advisable to seek professional guidance.<\/p>\n\n\n\n<p>When&nbsp;<strong>switching from one type of legal entity to another<\/strong>, one can indicate the new type of business form they want to use for the new company. They must also provide all information about the old company, including the termination date of the business. Then a new&nbsp;<strong>company registration<\/strong>&nbsp;form will be filed with the&nbsp;<strong><a href=\"https:\/\/www.opencompanysingapore.com\/accounting-and-corporate-regulatory-authority-in-singapore\" target=\"_blank\" rel=\"noreferrer noopener\">Accounting and Corporate Regulatory Authority<\/a>&nbsp;of Singapore<\/strong>.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"why-do-foreign-investors-change-company-types-in-singapore\"><\/span><strong>Why do foreign investors change company types in Singapore?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>The most frequent reason for&nbsp;<strong>changing business forms in Singapore<\/strong>&nbsp;is the expansion of the company\u2019s activities. Also, most of enterprisers&nbsp;<strong>switch from sole proprietorships or&nbsp;<a href=\"https:\/\/www.opencompanysingapore.com\/the-general-partnership-in-singapore\" target=\"_blank\" rel=\"noreferrer noopener\">partnerships<\/a>&nbsp;to limited liability companies<\/strong>&nbsp;because of the advantages the latter offers: limited responsibility to the owner with respect to the company\u2019s debts and obligations.<\/p>\n\n\n\n<p>If you need assistance in&nbsp;<strong>opening a company<\/strong>&nbsp;or&nbsp;<strong>changing business forms in Singapore<\/strong>, you can&nbsp;<strong><a href=\"https:\/\/www.opencompanysingapore.com\/contact\" target=\"_blank\" rel=\"noreferrer noopener\">contact our Singapore company formation representatives<\/a><\/strong>.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The&nbsp;Singapore Company Law&nbsp;provides for various types of legal structures foreign investors can use in order to&nbsp;form a company&nbsp;in the city-state. Those wanting to start small can register as sole proprietors and then upgrade their business by&nbsp;changing company types. The following types of structures, apart from sole traders, can be employed by those wanting to&nbsp;open a [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":343,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[585,584,583,8,11],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v22.6 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>How to Change Your Business Structure in Singapore<\/title>\n<meta name=\"description\" content=\"Find out here how to change company types in Singapore. 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