+65-6536 0036 +65-6536 0036

Initiate Company Incorporation Singapore Process for Your Pte Ltd

Last modified: April 3, 2018
Share Button

Company-Incorporation-Singapore-RegisteringSingapore private limited company is a powerful legal construct most popular among the entrepreneurs who come to Singapore to start or extend their business’ reach. A company incorporation Singapore ensures that the business owners have access to the start-up ecosystem and the most vital support during the first 3 years of struggle. These individuals must pay attention to the following information.

Requirements of Incorporation of a Private Limited Company

  • Minimum 1 shareholder
  • At least 1 local resident director
  • At least 1 company secretary
  • Minimum initial paid-up capital of S$1
  • A local registered office address

A Singapore company formation, normally, takes only 1 – 3 days. The business owners need to complete only 2 procedures to get their company registered. The following is information on how to register a company in Singapore.

Registering Name of Your Proposed Company

The business owners need to apply to ACRA and get the name of their proposed company registered. ACRA (Accounting and Corporate Regulatory Authority) also functions as the Company Registrar of Singapore. In this capacity, it governs all the Singapore companies. It insists on the use of the term Pte. Ltd., in the name of the private limited companies so as to separate them from other businesses.

The agency maintains a website, BizFile, where the business owners have to log-in and check for the availability of the name. By paying a small fee, they can register it for their use for 60 days.

Singapore authorities insist on keeping the company names unique. The intention is to avoid confusion in the minds of the investors. It means that the business owners have to take special precautions while selecting a name. In addition, they have to be careful about including terms like ‘bank’, ‘real estate agent’ in the name of the company.

Various government agencies oversee the use of such terms and may need to be contacted for the approval of the new company’s name. The lawyers interested in company incorporation Singapore, have to add LLC or Law Corporation in the name, instead of Pte Ltd. And their reviewing authority is the Law Society. Such a review may need 14 days to 2 months delaying the registration of the company.

The following table depicts some of the terms, the inclusion of which in the company name may invoke attention of the higher or external authorities. The data is taken from ACRA website ACRA: List of Referral Authorities (https://www.acra.gov.sg/components/wireframes/howToGuidesChapters.aspx?pageid=1755#1761) .

Reviewing Authority

Terms Reviewed and Approved

Board of Architects (BOA) Singapore

Architectural services

Council for Estate Agencies (CEA)

Real estate agencies and valuation services

Real estate activities on a fee or contract basis

International Enterprise Singapore (IE Singapore)

Physical Rubber, Commodity futures e.g. Rubber trading, Commodity brokers, Commodity Futures Exchange, Commodity / Commodities Exchange, Futures brokers, Commodity Futures, Clearing Exchange / House / House Exchange

Commodity and futures brokers and dealers

Ministry of Defense (MINDEF)
(Defense Technology and Resource Office)

Military or Defense

Ministry of Education (MOE) (Private Schools Section)

Secondary schools

Junior colleges and centralized pre-university institutes

International and foreign system schools – secondary

Schools for the handicapped and educationally sub-normal – secondary

Technical and vocational education

Specialized trade schools

Polytechnics

Universities

Teachers’ training institutes

Commercial schools offering higher education programs

Academic tutoring services

Ministry of Foreign Affairs
(ASEAN National Secretariat, Singapore)

Association of Southeast Asian Nations or ASEAN

Monetary Authority of Singapore (MAS)

A: Bank, banking, banque, banco, Bancaire, Banca and Banche

B: Finance Company and Finance;

C: Futures Exchange, Clearing House, and Securities Exchange

Majlis Ugama Islam of Singapore (MUIS)

Islam, Muslim, Halal and etc.

Singapore Police Force
(Licensing Division)

Arms, explosives, ammunition

Manufacture of other chemical products

Manufacture and repair of weapons and ammunition

Singapore Tourism Board (STB)

Merlion symbol or name

The Law Society of Singapore

Law, Law Corporation, LLC, Legal, Lawyer(s), Advocate(s), Solicitor(s)

Institute of Singapore Chartered Accountants

Accountancy, Accounting, Audit

Registry of Co-operative Societies

Co-op or Co-operative

Ministry of Health (MOH)

hospital, medical clinic/center, dental clinic/center, surgery, medical/clinical laboratory, health-care establishment

Company Registration in Singapore

The process of company registration in Singapore is online. The owner needs to log-in on the BizFile website using his or her SingaPass ID. However, foreign entrepreneurs do not have this password. This is why they need to take assistance from the Singapore incorporation services. The firms employ experts who see to it that their clients’ company gets registered without a hitch.

Documents Required for Company Registration Singapore

The business owners, after registering their company name must put together following documents and supply them to their Singapore incorporation services.

  • Company Name
  • Details of Business Activities
  • Details of Shareholders
  • Details of Directors
  • Registered Address
  • Details of Company Secretary
  • Memorandum and Articles of Association

Singapore incorporation services further assist their clients in opening corporate bank accounts, acquiring company seal and stamps, licenses and permits, GST registration and etc.

Singapore, as a business hub, has a great standing among the entrepreneurs and investors. For the Ease of Doing Business indicator measured by the World bank, Singapore has scored consistently and has topped the list for the 10th consecutive year. It reflects the straightforwardness of the Singapore company incorporation process, less administrative burden of the taxation system and availability of utilities.

Your Name (required)

Your Email (required)

Phone (required)

Subject

Your Message

I am interested in :

Company RegistrationAccounting ServicesTaxation ServicesCorporate SecretarialAuditing ServicesPayroll ServicesBookkeeping ServicesVisas and Passes ServicesXBRL Filing