Singapore remains to be one of the best countries to start a business. One good reason is that company registration Singapore procedures are fast and easy. There are no red-tape schemes. As long as you comply with the company incorporation Singapore requirements, you can set up company in Singapore.
The company registration Singapore procedure is easy. However, there is a much easier way to do it. Hiring a company incorporation Singapore agency can prevent you from making any mistakes during your company registration. As a result, it is a lot faster to set up company in Singapore. To help you understand how to set up company in Singapore, here is how it’s done.
Step #1 – Get your company incorporation Singapore name approved
The first step for you to set up company in Singapore is getting the company name approved. It is a fast and easy process. It only takes less than an hour if no issues are found. Thus, you must follow the rules of ACRA.
Consider the rules of ACRA when choosing a company incorporation Singapore name. The company name has to be unique and easy to read. It should not contain any vulgar or inappropriate words. There shouldn’t be any trademark or copyright issue. Company names with words like “bank”, “school”, and “media” will need approval from a higher authoritative office.
To get your company incorporation Singapore name approved, register on BizFile+. This is an ACRA website portal. If the company name gets approved, it will be included in the reserved company name list. The company name can only stay reserved for 60 days. That is why you need to set up company in Singapore within that time frame. If you need a longer time allowance, you can request for another 60 days extension from ACRA.
Do you want to be certain if your company name will get approved? Provide at least three company names. Then, consult with a company registration Singapore agency.
Step #2 – Prepare your company incorporation Singapore documents
The second step of the company registration Singapore procedure is document preparation. This is usually the longest step in the company incorporation Singapore procedure. That is why you should know the documents before you begin the registration steps.
The first requirement is the company name. That is why the first step to set up company in Singapore is company name approval. After that, you’ll need a short description of your company’s business activities.
Next, you’ll need a registered company address. It should be in Singapore and not a P.O. Box address. This should also be the location where your company documents are kept. After that, you’ll need to provide information on the company’s shareholders. You also need to give information about your company directors and secretary.
If you are a Singaporean citizen, you’ll need to submit a copy of your Singapore identification card. If you are a foreigner, you need to submit a copy of your passport and proof of residence from your home country. In the case of a foreign company, they need to submit their Memorandum & Articles of Associations.
You need to prepare a soft copy of all of these documents. Make sure that they are all in English. If not, attach an English translated version of the document. Do you need help in completing all of your company registration Singapore requirements? Seek the services of a company incorporation Singapore agency.
Step #3 – Submitting your company registration Singapore application to ACRA
The third step in the company incorporation Singapore procedure is also easy and fast. All you need to do is send all of your requirements to BizFile+ portal. There is a series of application steps as you go through the website. Supply all the necessary information. It usually takes an hour to complete the company registration Singapore application.
After applying, you are done with the company incorporation Singapore process. The approval usually takes only a few moments if no issues are discovered. To make sure that there will be no problems, it is recommended to hire a company registration Singapore agency. They will help you set up company in Singapore.
Completing the company registration Singapore procedure is done in three steps. However, there are a few post-registration steps. Some of these company incorporation Singapore steps are optional. However, they can be very helpful when you set up company in Singapore. Here are the two post-registration steps that you should consider doing.
Getting a certificate of incorporation
Once you get an approval of your business registration, ACRA will send an email. That email contains the company registration number. This email is considered as a soft copy of a certificate of incorporation. However, you can always request a hard copy from them for a certain fee. You can have this certificate hanged somewhere in your office so others can see. It is also a requirement if you intend to open a bank account or get a business loan.
Request for a company business profile
Another requirement that banks or loan agencies ask for is the company’s business profile. This document can be requested from ACRA at a certain fee. It is given as a PDF file that you can download easily.
A company business profile usually contains the company name and registration number. It also includes the registration date, principal business activities, and registered address. Paid-up capital is also stated in the business profile. Furthermore, information of the shareholders, directors, and company secretary is also included.
Let us help you set up company in Singapore.
The company registration Singapore procedure is easy to do. Getting approved is also a fast process. However, if there are issues found in the company application, it will not get approved easily. It will cost you weeks to get your company registered. To avoid that, you need the assistance of a company incorporation Singapore agency. Here at WLP, we’ll register your company in Singapore without any issues. Find out how by inquiring on our contact page.