A company is a legal entity with corporate personhood which allows it to own assets and enter into contracts. It is also able to sue and be sued, and pay taxes. Companies are generally organized to earn a profit and are a vital component of any economy.
Incorporating a business in Singapore is a straightforward and easy process. However, there are some key considerations that entrepreneurs should consider before getting started.
Whether you are relocating your existing company to Singapore or starting a new one, this article will provide you with a detailed step-by-step guide on how to register a company in Singapore.
The first thing you need to do is choose a company name that is unique and not already in use by another company. You can check if your chosen name is available through the Accounting and Corporate Regulatory Authority (ACRA) website.
Once you have chosen a name, you will need to prepare all the necessary incorporation documents and submit them to ACRA through their BizFile+ system. You will also need to pay the ACRA registration and name approval fees.
You will need to have at least one shareholder who is either a Singapore citizen, permanent resident or an Employment Pass holder. In a private limited company, you can have up to 50 shareholders.
Once your company is registered, you will receive a Certificate of Incorporation from ACRA which will include your company’s business registration number. You can then apply for business licenses, open a corporate bank account and hire employees. how to register a company in Singapore