Starting a dropshipping business in Singapore - advice needed

[blacktoast94]

Hi all, I've been thinking of starting a dropshipping business in Singapore, however i do not have much knowledge on how to start a business. Really hoping to get some advice.

I read that you have to incorporate your business in order to do a dropshipping business, so i have the following questions:-

1. Is it advisable to use an LLP instead of Pte Ltd? Pte Ltd comes with too many compliance costs (e.g. secretarial and accounting services) while LLP does not require all these. I don't really want to have all these compliance costs when i am not even sure if the business will work.

2. Is it possible to test out and get a few sales first before registering my business?

3. I am thinking of dropshipping in the US (from US suppliers to US customers). Would i have to start a company there / pay tax there?

Thanks in advance

 

[ftpofmpo]

the items you buy on shopee and aliexpress that ships from china are dropshipped

 

[flowerpalms]

Hi all, I've been thinking of starting a dropshipping business in Singapore, however i do not have much knowledge on how to start a business. Really hoping to get some advice.

I read that you have to incorporate your business in order to do a dropshipping business, so i have the following questions:-

1. Is it advisable to use an LLP instead of Pte Ltd? Pte Ltd comes with too many compliance costs (e.g. secretarial and accounting services) while LLP does not require all these. I don't really want to have all these compliance costs when i am not even sure if the business will work.

2. Is it possible to test out and get a few sales first before registering my business?

3. I am thinking of dropshipping in the US (from US suppliers to US customers). Would i have to start a company there / pay tax there?

Thanks in advance

1. Just use Sole proprietor self employed. No need LLP

2. Yes

3. Alidropship is china aliexpress. Not sure about US suppliers

Posted from PCWX using SM-G973F

 

[Opps-gal]

https://www.guidemesingapore.com/bu...limited-company-vs-llp-vs-sole-proprietorship

LLP better? Separate legal entity.

 

[blacktoast94]

1. Just use Sole proprietor self employed. No need LLP

2. Yes

3. Alidropship is china aliexpress. Not sure about US suppliers

Posted from PCWX using SM-G973F

1. Will it be risky to use sole proprietor? I think SP is the easiest, but not sure if i could get into some kind of legal trouble with dropshipping.

2. if that's the case, would be good.. wanna test out first

https://www.guidemesingapore.com/bu...limited-company-vs-llp-vs-sole-proprietorship

LLP better? Separate legal entity.

Hmm would LLP or Pte Ltd be more advisable for a dropshipping biz?

 

[reddevil0728]

1. Will it be risky to use sole proprietor? I think SP is the easiest, but not sure if i could get into some kind of legal trouble with dropshipping.

2. if that's the case, would be good.. wanna test out first




Hmm would LLP or Pte Ltd be more advisable for a dropshipping biz?

I think U should seek legal advice

 

[stamploversg]

For drop shipping I always wonder how it works in the case of cross-border transaction with value declaration. The value declared when entering the country of customer will be lower than the price customer paid you as it it the supplier price right? Then the customer will know how much you bought it? Any insights?

 

[testingabc]

1. Will it be risky to use sole proprietor? I think SP is the easiest, but not sure if i could get into some kind of legal trouble with dropshipping.

2. if that's the case, would be good.. wanna test out first




Hmm would LLP or Pte Ltd be more advisable for a dropshipping biz?

Biz is easiest but need to renew and has unlimiited liability, so if you worry then get LLP or LC. LLP need do AD also, just that don't need to hold AGM and file AR and get a sec and sh like LC

 

[CrashWire]

Hmm would LLP or Pte Ltd be more advisable for a dropshipping biz?

If you still don't understand after reading the ACRA website, then talk to a corp sec. I think some have free consultation.

 

[testingabc]

1. Will it be risky to use sole proprietor? I think SP is the easiest, but not sure if i could get into some kind of legal trouble with dropshipping.

2. if that's the case, would be good.. wanna test out first




Hmm would LLP or Pte Ltd be more advisable for a dropshipping biz?

You mean for dropshipping? Should be personal preference, ACRA entity has business, LLP, LC, FC and LP for you to choose.

 

[sAVaGEmP5]

wha kao, in 1 hr i can get a new drop shipping ecomm website + domain up and running with any genre of product running and fb/ig ads pumping in, likely get in my first sale say 1hr 5 mins ?

U ask so much high level qns, u might as well study a biz degree and work for others. Dont say i not constructive, if u go with the camp of no skills can hire... i nothing to say.

 

[reddevil0728]

wha kao, in 1 hr i can get a new drop shipping ecomm website + domain up and running with any genre of product running and fb/ig ads pumping in, likely get in my first sale say 1hr 5 mins ?

U ask so much high level qns, u might as well study a biz degree and work for others. Dont say i not constructive, if u go with the camp of no skills can hire... i nothing to say.

likely opportunistic. monkey see monkey do.

think money so easy make

 

[mocha_latte]

Was thinking of starting to do dropshipping. Got any tips for a newbie to take note of?

 

[ligtwan7]

Product is key. even if your ad sucks but if product resonates with buyer, it will still sell. Of course, you can always improve your ad if you know the product is a winner.

Master paid traffic, whether it is FB/google/youtube. Paid traffic has more scalability compared to organic growth.

Test fast and move on. Never ever get attached to a product. Data is king.

 

[actioncam]

I have been running a few models of dropshipping business for few years. US-US, China-SG, China-US. You do not need to have a business entity, but is good to have.