Singapore Expats

I am 19, registered a business with ACRA last year under my parent's name and running it on my own.
All was fine until I heard rumours that it is illegal to do that.
Is that true?
Is there any ways I can transfer the business to my name without waiting 2 freaking years? ><

Sometimes I dislike being 19.
You can't even post a classifieds on papers.
=(((

ladyvampire wrote:I am 19, registered a business with ACRA last year under my parent's name and running it on my own.
All was fine until I heard rumours that it is illegal to do that.
Is that true?
Is there any ways I can transfer the business to my name without waiting 2 freaking years? ><

Sometimes I dislike being 19.
You can't even post a classifieds on papers.
=(((

http://www.acra.gov.sg/Services/Busines ... culars.htm

I thought they have brought down the age to 18? Now you can start a business at 18, no? I remember they annouce it before, you might want to check with Acra

Having a business registered under someone else's name while you are running it is not illegal. Think of it as a franchise. Use their name but you are running it.

How about this as a hint. Many are doing this right now and none ever mentioned that it is illegal. The only illegal thing I can think of right now is when you are running a business without registering it.

Cheers...

Do everything locally at your own risk and do not get caught.

they hv just changed the requirements this march. The min age now is 18. =)