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#Blog 5 - "We are building up slowly, we want to do it right!"

posted 22 Jan 2016, 02:29 by Zhe Loong Benjamin Ho   [ updated 22 Jan 2016, 02:29 ]
Through the weeks we had began our search to understand which kind of company our team should set up. Through much detailed research and resourcing, we have decided on the incorporation of the company.

Initially our team decided to launch as a LLP due to the consideration of lower cost on the income taxes and cheaper set up cost. However, as 3 of our members are students on student passes from the Ministry of Manpower. This would be a limitation to LLP as they have to be on Entre-Pass. There could be underwriting of ownership of the company however liabilities could not be underwritten and it is tricky to do so. 

Our previous concern for setting up a Private Limited was the extra admin work and cost of set up. However due to the limitations,