Company Registration – Singapore

Company Registration – Singapore
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Registering a company in Singapore involves several steps, and the process is streamlined by the Accounting and Corporate Regulatory Authority (ACRA), which is the national regulator of business entities and public accountants in Singapore. Below is a general overview of the steps to register a company in Singapore:

### 1. **Company Name Reservation:**

1. **Check Name Availability:**
– Before registering your company, check the availability of the desired company name through ACRA’s online system.

2. **Name Guidelines:**
– Ensure that the chosen name complies with ACRA’s guidelines, including avoiding prohibited and reserved names.

3. **Reservation Request:**
– Submit a name reservation request to secure the chosen name for 60 days.

### 2. **Appoint Directors and Shareholders:**

1. **Minimum Requirements:**
– A Singapore company must have at least one director who is a Singapore resident, and the director can be a foreigner. There is no restriction on the nationality or residency of shareholders.

2. **Share Capital:**
– Decide on the share capital structure of the company.

3. **Shareholders Agreement:**
– Draft a shareholders’ agreement if there is more than one shareholder.

### 3. **Registered Address:**

1. **Local Address:**
– Provide a local Singapore address as the registered address for the company. This cannot be a P.O. Box.

### 4. **Company Constitution:**

1. **Adopt Constitution:**
– Prepare and adopt the company’s constitution, which outlines the rules governing the internal management of the company.

### 5. **ACRA Incorporation Filing:**

1. **Online Submission:**
– File the incorporation documents online through ACRA’s BizFile+ portal.

2. **Documents Required:**
– Prepare and submit the required documents, including the company’s constitution, details of directors and shareholders, and the registered address.

3. **Incorporation Fee:**
– Pay the incorporation fee to ACRA. The fee varies based on the type of company and the speed of processing.

### 6. **Post-Incorporation Steps:**

1. **Obtain Certificate of Incorporation:**
– Once the application is approved, ACRA will issue a Certificate of Incorporation.

2. **Business Profile:**
– Obtain a business profile from ACRA, which serves as the official company registration document.

3. **Company Seal:**
– While not mandatory, some companies choose to have a company seal.

### 7. **Goods and Services Tax (GST) Registration (if applicable):**

1. **Determine GST Liability:**
– Assess if the company needs to register for GST based on its taxable turnover.

2. **Online Registration:**
– If required, register for GST through the IRAS (Inland Revenue Authority of Singapore) website.

### 8. **Opening a Corporate Bank Account:**

1. **Choose a Bank:**
– Select a bank and open a corporate bank account. Requirements may vary among banks.

2. **Required Documents:**
– Provide the necessary documents, including the Certificate of Incorporation, business profile, and identification documents for directors and shareholders.

### Professional Assistance:

– **Corporate Service Providers:**
– Many companies choose to engage the services of corporate service providers or law firms to assist with the company registration process.

– **Tax and Legal Advice:**
– Seek advice from tax professionals and legal experts to ensure compliance with Singapore’s regulatory requirements.

It’s important to note that the information provided here is a general guide, and specific requirements or procedures may vary based on the nature of the business and regulatory changes. Always refer to the latest guidelines provided by ACRA and other relevant authorities for the most accurate and up-to-date information.

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