A Detailed Value Singapore Company Formation Process

Incorporating a business in Singapore is simple, quick, and free of red tape. Singapore is routinely rated among the greatest places to do business in the world. This guide will help you know the prerequisites and process for value Singapore company formation.

In order to register a Singapore corporation, investors must hire the services of a reliable corporate service provider. Local entrepreneurs should follow suit, since they may not be aware of Singapore company legislation and regulatory compliance.

For you to register a company in Singapore, you must be prepared to satisfy additional compliance obligations such as preparing financial statements, directors’ reports, yearly returns, and completing a corporate audit. It could also entail naming an accountant, a company secretary, and a local director for your business. After you’ve decided on a business structure, you’ll need to meet the following criteria.

Obtain approval for the company name.

Before you begin the value Singapore company formation process, it is essential to note that all Singapore corporations must have their names authorized by ACRA before they can register. The approval of a company name is an easy online process that is subject to various guidelines including:

  • The name can’t be the same as a company that already exists in Singapore.
  • Any trademarks must not be infringed upon by the name.
  • The brand name must not be profane or indecent.
  • There mustn’t be another company that has reserved the same name.

A company name can be registered in a brief period if it follows all of ACRA’s regulations. If the name incorporates regulated business words like “financial,” “legal,” “law,” “broker,” or “school,” it can be sent to a different government authority for authorization. This may cause the brand name approval procedure to be delayed by a few weeks.

A firm can retain a name for down to 120 days after it has been authorized. If it does not integrate the name within that time frame, the name becomes available for other people to register.

Review the documents for the business’s registration.

A firm must have the relevant details ready after the name has been approved and even before registering for company formation:

ACRA requires the following documents:

  • Articles of Association were originally known as the company constitution. You may choose to use the ACRA-approved basic Singapore company constitution, which is acceptable for most businesses.
  • The directors signed Consent to Act as a Director, and the company secretary’s signed Consent to Act as Company Secretary.
  • Identification and residence information for each company shareholder and executive

It is essential to note that during value Singapore company formation, all documents should be in English or translated into English officially.

Association of Corporate Registrars of Singapore (ACRA) is the place to go to register your company in Singapore.

A company can be registered officially with ACRA after completing the incorporation documents. The application process takes about an hour and is completed online. The procedure can take a couple of weeks if indeed the company registration needs to be forwarded to another government body for additional screening. By following the above procedure you will not strain during value Singapore company formation.