How to register a company in Singapore
Want to register your company in Singapore? This guide contains key facts on opening a company and doing business in Singapore – the requirements, procedures, and timelines.
Registering a company in Singapore: high-level overview
Other helpful things to keep in mind when registering a company:
Required documents at incorporation
To incorporate your company in Singapore, you need to file with ACRA (the Accounting and Corporate Regulatory Authority), who manages company registration in Singapore. You will need to provide:
The main document required is the constitution of the company, which sets out the rules governing the way of doing business, the internal governance of the company and the relationships between its stakeholders (mainly directors and shareholders).
Additional considerations for foreigners
Foreigners who are interested in registering their company in Singapore also need to consider the following:
Timeline for registering your company
Once you have all your documents together, a company can be incorporated within one business day, as long as ACRA does not cause any delays. Read on to find out how you can set up a company in Singapore via ACRA.
There are 2 steps involved in the company formation procedure for incorporating in Singapore: reserving a name, and registering the company.
1. Reserving the company name
To register your business in Singapore, you must make sure that your proposed name is approved by ACRA. Usually, you will find out whether your proposed name has been approved or rejected within a day. However, if your proposed name contains specific words such as media, bank, law, finance, or education, the corresponding external governmental authority may be required to review and approval the name.
To increase your chances of the proposed name being approved right away, you want to make sure that the name is not:
Approved company names will be held and secured for 60 days from the date of your application. Also, if you need to extend the name reservation for another 60 days, you may do so by filing an extension just before the initial hold expires.
2. Registering the company
Once you have received approval for your name, the process of filing the incorporation paperwork and obtaining approval from the ACRA can be done in just a day – as long as the documents are all ready and have been signed by all directors of the new company.
What happens post-incorporation?
Ongoing requirements/formalities for filing
Once you have officially incorporated your Singapore business, the Companies Act requires specific annual filing requirements to be made. To learn more about this, check out our guide on the annual filing requirements for companies established in Singapore.
If you’re not Singaporean and you want to have a hassle-free experience, you might want to consider hiring a professional corporate secretary …. like us.
Get in touch with us if you want to learn more about how we can take care of all your ongoing corporate filing requirements.