Singapore is viewed to be one of the prominent economies wherein startup businesses can thrive and seamlessly achieve their goal. Perhaps, this is the key reason why many foreign aspirants come to the island country in the pursuit of achieving a new height in the business world. Singapore company registration is the stepping stone for attaining their dream. Let us know the procedure of registration. Thing blog will provide a step by step guide for the entrepreneur enthusiasts.
Company Registration Singapore: A Comprehensive Guide
The process of company registration in Singapore has been monitored by national regulator ACRA (Accounting & Corporate Regulatory Authority). Essentially, the rules and regulations of the process are governed by the Singapore Companies Act, Cap 50. The entire process of company registration Singapore takes very less time as it is done electronically using the website of the authority. There are mainly two steps of the registration. 1) Company Name Reservation and 2) Company Registration (filing of application form).
Once the company name is approved, you can submit the application form with authority for final registration. The approval of name is subject to availability with the ACRA. It should not coincide with any of the existing company’s name. A unique, meaningful and decent name is perfect of registration. The name must not infringe the copyright/trademark/ patent law.
An approved company name will remain reserved for 60 days. Upon company name approval, the application form must be submitted along with the required document. You will receive the certificate of company incorporation through email. Once the certificate of incorporation is received, you may need to fulfill few post-incorporation requirements such as bank accounting opening, GST registration, obtaining business licenses/permits.
Requirements for Singapore Company Registration
The authority has laid down a set of minimal requirements for the process. Following are the requirements which must be met before filing the application form.
- At least one local resident director (Citizen, PR or holder of Employment Pass) of 18 years and above.
- The number of the shareholder has to be 1 to 50. Both individual or entity can be the shareholders. 100% foreign shareholding is allowed.
- One registered office Address. It can be residential or commercial address.
- The minimum amount of paid-up capital is SGD1.
- One company secretary to be appointed within six months of company incorporation.
Documents Required:
- The Approved Company Name
- Information about Principle Business Activities
- Particulars of the Shareholders, Directors, and Secretary of the company
- Memorandum & Articles of Associations
- The Registered Address Details
You can rely on a trusted Singapore company registration firm like SBS Consulting to carry out the all activities viz a viz incorporation. It would ensure a smooth and hassle-free incorporation experience.
Contact Info:
SBS Consulting Pte Ltd
Visit: https://www.sbsgroup.com.sg/
High Street Center,
#17–02, 1 North Bridge Road,
179094 — Singapore
Phone: +65–6536 0036
Email: info@sbsgroup.com.sg
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