Pre-registration Requirements of a Company Incorporation Singapore
To successfully attempt a Singapore company registration, the entrepreneurs have to fulfill the following requirements. They must have:
- At least one shareholder
- At least one local director
- At least one company secretary
- Minimum paid-up capital of S$1. For EntrePass holders, it is S$50k
- Registered company name
- Local registered business address for your company
- Memorandum & Articles of Association
* SBS Consulting is fully capable of acting as a nominee Company Secretary for your company to discharge statutory requirements expected of you by the ACRA (Accounting and Corporate Regulatory Authority).
ACRA is a government agency that also acts as the Company Registrar of Singapore. It governs all the companies in Singapore. It is the entity that one applies to get the name of the proposed company approved and then, to register a limited private company Singapore.
Where to go for Your Singapore Company Registration
SBS is a one-stop provider of Singapore company incorporation services. It caters to all sizes and segments which include individuals, small and medium enterprises and multinational firms. The firm provides a detailed overview of company registration requirements, procedure, and timeline for registering a Singapore company setup.
We dedicate an incorporation expert to our clients. This professional stays in touch with them and guides them through the process which makes it worth for the foreigners to pay the Singapore company incorporation cost. The individual handles all the incorporation queries from the clients and shares valuable insights about the requirements which are important for a successful company incorporation Singapore.
As with most other jurisdictions, Singapore has a set of initial and ongoing regulatory compliance requirements for starting and operating a company. Therefore, both local, as well as foreign entrepreneurs, are advised to engage a Singapore company incorporation services firm for the purpose.
The simplicity of Singapore incorporation process is evident in that it does not require the entrepreneurs' physical presence during the company registration phase. All they need to do is to provide duly signed incorporation documents to us and a list of 3-5 names for the proposed company.
Our incorporation expert then starts the process with the Company registrar (ACRA). He checks the availability of the company name with the ACRA and if it goes all right, proceeds with the application for the registration of a new company.
If the new company intends to operate in restricted business domains like Bank, Education, etc., the application gets reviewed by the higher authorities. It delays the registration of the new company. It may then take up to 2 months of time.
Timeline to Set Up a Singapore Private Limited Company
- Our incorporation expert, upon receipt of all incorporation documents from the client, visits the web portal BizFile+ to search the availability of the name for the proposed company. He then gets it approved from ACRA and by paying a small government fee, reserves it for the client's use.
- ACRA wants to maintain the uniqueness in the names of the companies under its jurisdiction. If the company name is improper, confusing, an imitation, or if it is blacklisted, ACRA rejects it.
- The expert then submits the application for company registration to the Company Registrar with duly signed documents. The registrar may notify, the acceptance or the rejection of the application online, in 1 hour.
- If the registration is successful, ACRA sends an email giving details of incorporation like Company Number, date of issuance, and etc. The email serves as the Certificate of Incorporation in Singapore and by paying a small fee to the ACRA one can get a hard copy of it.
After a successful company incorporation in Singapore, SBS also assists its clients in acquiring business licenses and permits, in opening a corporate bank account in a local bank, and in ordering Company Seal and stamps.