Hi, im not an expert but just a student who has learnt only abit
about economics. So take what i say with a pinch of salt =)
1) im pretty sure by law, you have to pay employees CPF... If they
are not employees then dont need cpf, also i think if ur pay is
below a certain amount, you also dont need to pay cpf for
them.
2) The Private Limited you speak of is it Private limited company?
If it is it is a sub-category of Corporation and in a sense the
Liabilities will not tap into your personal assests. But you are
still liable in the extent that if you were to somehow for example,
go bankrupt. The investors can claim on your company's assets
(computers, printers, furnitures etc.) and sell it to gain back
their capital. However, they will not tap on your personal assets
(your home, bank account etc.)
Now i want to warn you about corporation, it has double taxation
and the filing of reports of your earnings and company stuffs is
quite complicated which consume time.
Hi, you are doing this with your friends right? Then i suggest you
can try Limited Liability Partnership(LLP). This way your friends
will be your partners. LLP also has limited liability. I think you
can find more info on LLP online. =)
