STEP 1: Reserving a Company Name
To register your company in Singapore, the proposed company name must be approved by Accounting and Corporate Regulatory Authority (ACRA). This process of finding out whether the proposed name is approved or rejected can be done within a day. ACRA will reject the proposed company name if it is identical to an existing Company Name, vulgar/obscene and if it is similar to established Names or trademarks. Approved names will be reserved for 120 days. We recommend that 3 Company Names be proposed for consideration.
STEP 2: Registering your Company
Following the approval on the proposed company name, submission of the paperwork and obtaining the approval for company registration can be done within a day, provided all required documents are in order. The following set of documents and information will be required to process the company registration:
Approval from ACRA regarding the proposed company name
Brief description of main business activities
Registered address of the Singapore company
Particulars of shareholder(s) – minimum of 1
Particulars of director(s) – at least 1 director must be a Singapore resident
Particulars of company secretary – must be a Singapore resident
Foreign individual(s) must provide a copy of their passport and proof of residential address
Foreign company(ies) must provide a copy of their Memorandum & Articles of Association
Singapore residents must provide a copy of their identify card
Paid-up capital – at least S$1
Upon completion of the above, ACRA will provide the Certificate of Incorporation through email which will include your business registration number, Business Profile (BizFile) which is like an identity card for your company and Company Constitution.
STEP 3: Opening a Corporate Bank Account
After successfully registering your company, you can open a corporate bank account in Singapore, to conduct your financial transactions. Approval for bank account opening is granted by the bank if the company satisfies the banks’ due diligence requirements.
Ongoing filing / compliance for all Singapore companies
Under the Companies Act, all registered companies in Singapore must fulfil a set of annual filing requirement to stay compliant with the law. Don’t worry, our team of consultants will be able to help you remain compliant with the necessary regulatory requirements.
