Singapore Company Registration in 5 Easy Steps
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Incorporating a company in singapore requirements are:
- Choose Your Company Name:
- Start by selecting a unique and appropriate name for your company. Ensure that the name is not already in use and does not infringe on any trademarks. You can check name availability on the Accounting and Corporate Regulatory Authority (ACRA) website.
- Appoint Directors and a Company Secretary:
- Your company must have at least one director who is a Singaporean citizen, Permanent Resident, or an Employment Pass holder. Additionally, appoint a qualified company secretary within six months of company incorporation. The secretary must be a natural person and a resident of Singapore.
- Register Your Company with ACRA:
- The registration process is relatively straightforward and can be completed online. You’ll need to provide the following information and documents:
- Company name and structure (e.g., Private Limited Company)
- Particulars of directors and shareholders
- Registered office address
- Business activities
- Memorandum and Articles of Association (M&AA)
- A declaration of compliance
- Once you’ve prepared all the necessary details, submit your application to ACRA through the BizFile+ portal. The registration usually takes one business day if all documents are in order.
- The registration process is relatively straightforward and can be completed online. You’ll need to provide the following information and documents:
- Open a Corporate Bank Account:
- After successful registration, you should open a corporate bank account in a reputable bank in Singapore. You’ll need to provide your ACRA certificate and other required documents. A local bank account is essential and buy business profile.
- Compliance and Ongoing Obligations:
- Following company registration, it’s important to comply with the ongoing obligations, including:
- Annual filing requirements with ACRA
- Annual tax returns with the Inland Revenue Authority of Singapore (IRAS)
- Holding an Annual General Meeting (AGM)
- Maintaining proper accounting records
- Complying with any industry-specific regulations and licenses if applicable
- Following company registration, it’s important to comply with the ongoing obligations, including:
It’s important to note that the process can be further streamlined by engaging a professional firm specializing in company incorporation in Singapore. These firms can provide guidance, handle the paperwork, and ensure that you meet all legal and regulatory requirements. Additionally, they can assist with other corporate services, such as corporate secretarial services, accounting, and compliance, to help your business run smoothly.