Registering a Company in Singapore: Process And Documents

Registering an organization in Singapore can seem like a daunting task, especially due to how stringent the rules are. Hence, in this article, we have tried to demystify the entire process and tried to put up a better picture of it. So, without any further ado, let’s get started with it.

Table of Contents

1: Understand the Registration Requirements.

The eligibility criteria for registering your organization in Singapore is pretty straightforward and simple. Here is what you need to follow in this aspect –

There has to be at least one shareholder participating in the company inauguration.
At least one director and a company secretary of the office who stays in Singapore.
The capital of the business must be at least SGD 1.

Apart from these, the registered address of the company should also be in Singapore. It has to be specified in the documentation you are providing too.

The better you follow the requirements related to registration, the better. This will help you in setting up a better networking system for your business as well.

2: Define the Corporate Structure.

Once you are done with the former, you will need to find a way to define the structure of your business. Here are a few questions that can help you out in this aspect –

Who are going to be the shareholders of your company?
Who will direct the business and develop it accordingly?
What should be the initial share of the company?

These identification and confirmation-related information should be offered at the starting of the registration. This way, there won’t be any confusion at the beginning.

3: Get Approval.

The Singaporean Company Law requires you to have your organization’s name approved in a separate manner before it becomes an entity. Although tricky, this problem can be taken care of pretty quickly as long as you are following these guidelines closely –

You’re not making any trademark infringement.
The name is unique and not copied from elsewhere.
It has not been reserved by any other party.

There’s no obscene word available in the name of the business. Apart from the English ones, you should always consider the local words, as you’re trying to Register business Singapore.

4: Sign All of the Incorporation Documents.

So, has the name of your business been approved? Well, in that case, you must start working on signing the incorporation documents accordingly.

For that, you will need to prepare, sign, and file the following with ACRA –

Consent offered by each company director.
The constitution of the company (follow the recommendation of ACRA).
Declaration of the controllers of your organization.

Apart from these, you’ll need to get the consent of your company’s secretary to complete the incorporation of documents process.

5: Open a Bank Account.

Once you have signed the incorporation documents, it will be shared with an authority figure. They will take a look at it and ensure that whatever you have written there are, indeed, true.

Once that’s done (might take a week or so), you will be eligible to incorporate your company. And if you get the green light, it’s important to open a bank account as soon as you can.

If you are not aware of how you need to follow through with the process, don’t forget to have a talk with ACRA. They can tell you how you need to proceed and all.

The Final Say!

No matter where you are in, opening a business will always be a difficult and tricky affair. So even if it takes time, you should always do everything by the books.

Just be careful and make sure that you are not giving any false information anywhere. This, in turn, can ensure that the entire process is getting completed as soon as possible.