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In Singapore, setting up a sole proprietorship is a straightforward process, and many individuals are eligible to do so. Here are the eligibility criteria and key points to consider when setting up a sole proprietorship in Singapore:
It's recommended to seek legal and financial advice when starting a sole proprietorship to ensure that you meet all the legal requirements and understand the implications of unlimited personal liability. Additionally, consider whether this structure aligns with your business goals and needs, as there are other business structures available in Singapore, such as partnerships and private limited companies, which may offer different advantages and limitations.
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