Individual enterprise: If there is a small market for a product or service; if the nature of the business is simple; if the business is not associated with particular risk; if there is a small need for capital to promote the business, the business can be structured as an individual enterprise. Examples of individual enterprises are freelancers, babysitting, tutors and tutors. Warning: An individual enterprise is often the most attractive business structure. However, it is also the most dangerous because it does not offer protection for personal movable property and assets.
Limited Partnership: LLP Form is suitable for companies that require moderate capital for development, as well as professionals who have certain abilities, talent, skill or experience. For example: Accounting firms, law firms, architectural firms, etc.
Private limited company: Small and medium-sized enterprises that are interested in long-term stability, protection of personal movable property from business liabilities, as well as effective taxation tend to set up a Singapore private limited company. For example: Retail, import / export business, construction business, restaurant business, employment agencies, travel agencies, business management, IT consulting, financial services, educational business, etc.Singapore Private Limited Company - has the most efficient and optimal taxation system compared to an individual company or limited liability partnership. This is because income from a company's business is taxed at the corporate level, which is calculated on lower tax liabilities, compared to profit that is taxed at a personal level. Please note that personal income tax rates range from 0% to 20% if the company's revenue exceeds S $ 320,000.
To learn about this topic and not only you can here -https://en.wikipedia.org/wiki/Business_structure
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