Yes, you can register your freelance company as a single proprietorship in your own name. However, it is advised to create a private limited corporation (PLC) if you want to safeguard your personal assets. A PLC’s liability is only as much as its assets because it is a separate legal entity from its owners. This means that, in the event of any liability difficulties, your personal assets won’t be at danger. What should my freelance LLC be called?
The procedure of registering your freelance LLC requires you to select a name. The name ought to be distinctive, memorable, and associated with your company. On the ACRA website, you can see if the name you want is available. Additionally, you must make sure that the name you choose does not violate any already-existing trademarks or intellectual property rights. When freelancing, should you go by your personal name or a business name?
Depending on your preferences and professional objectives, you may choose to use your real name or a business name when freelancing. Using your real name might be preferable if you want to build your personal brand. However, utilizing a business name can be more appropriate if you want to develop a distinct brand identity for your company. It is significant to remember that you must register your business name with ACRA if you choose to use one. Can a freelancer use a personal bank account?
Technically, you are permitted to conduct your freelance business using your personal bank account. To keep your personal and business finances distinct, it is advised to open a separate business bank account. It will be simpler to manage your money and file your taxes as a result. Additionally, opening a corporate bank account will enhance the professionalism of your company.
In conclusion, the ACRA website can be used to complete the simple procedure of registering a freelance business in Singapore. Selecting a distinctive name is crucial, as is deciding whether to go by your legal name or a business name. To further segregate your personal and corporate finances, you should open a separate business bank account. You can establish a legal identity and safeguard your personal assets by registering your freelance business.