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The Company Registration Process in Singapore Explained
27/02/2023
International companies and entrepreneurs often choose Singapore to register their regional headquarters or holding companies.
Singapore is appealing for numerous reasons, from international recognition to quick and affordable company registration.
In this article, we look at Singapore’s company registration process.
What are the first steps for company registration in Singapore?
The first steps for registering a business in Singapore are as follows:
- Choosing your preferred business structure (more info can be found here)
- Registering your company with the ACRA
- Setting up a corporate bank account
What are the requirements for registering a Singapore Company?
The following requirements must be satisfied to register a company in Singapore.
- Choosing a company name.
- Appointment of 1 or more directors: To qualify as a director in Singapore, directors must be individuals aged 18 and above who have yet to be disqualified from holding a directorship in Singapore or elsewhere.
- Appoint one or more resident directors: A company in Singapore must always have at least one resident director. During registration, a resident director must be a Singapore citizen, Permanent Resident, or holder of an EntrePass visa.
- Have between 1 – 50 shareholders: A shareholder can be an individual or a legal entity such as a trust or another company. 100% foreign ownership of Singapore companies is possible in Singapore.
- Paid-up capital: The minimum paid-up/share capital for a company to register in Singapore is S$1.
- A registered address in Singapore: The registered address for the company must be a physical address (not a P.O. Box) in Singapore.
- Appointment of a company secretary: Every company must appoint a company secretary.
- Appointment of an auditor: This is mandatory unless the company has been exempted from audit (which is the case for most start-up companies).
What are the documents for registering a business in Singapore?
Companies must register with ACRA (the Accounting and Corporate Regulatory Authority) when incorporating a company in Singapore. ACRA requires the following information and documents:
- Company name
- Brief description of activities & SSIC Code
- Details of shareholders and KYC information
- Details of directors and KYC information
- Registered Singaporean Business Address
- Share capital details
- The company’s constitution
What is the process for registering a company in Singapore?
In Singapore there are two steps in the process of company formation in Singapore: reserving a name and registering the company.
1. Reserving the company name
Before registering a business in Singapore, ACRA must approve your desired company name (this usually takes a day).
Please note that if the proposed name contains specific words the related governmental authority may need to review and approve the name. Restricted words include:
- media,
- bank,
- law,
- finance,
- or education
To ensure your chosen name gets approved, companies should make sure that the name is not:
- Similar/identical to an existing company in Singapore
- Vulgar/obscene
- Already reserved
Approved company names will be reserved for 60 days from the date of your application. If you need to extend the name reservation for another 60 days, you may file an extension before the initial reservation expires.
2. Registering the company
Once your company name has received approval, filing the registration paperwork and obtaining approval from the ACRA can be done in just a day.
How long does it take to register a Singapore Company?
The time required for registering a new company in Singapore can take a few hours to days.
What are post-incorporation requirements?
- ACRA will send a Certificate of Incorporation via email. This certificate is used as confirmation for the registration of your company and includes your business registration number.
- The creation of a Business Profile (Bizfile). ACRA will also provide the business profile of your new company. The Bizfile acts as the identity card of the company.
- Opening a corporate bank account. After successfully registering your Singapore business, you can open a corporate bank account.
- Applying for the relevant Business Licenses. You might also need to apply for business licenses depending on your business’s activities.
- Registration for Goods and Service Tax (GST). If your expected annual turnover exceeds S$1 million, the company must register for Goods & Services Tax, or GST. If you do not expect your business’ yearly turnovers to reach S$1 million, you are not required to register for GST.
How can Belaws help?
If you have a question about registering a company in Singapore, please speak directly with one of our experts.
You can also view our Singapore incorporation services here.
This article is for information purposes only and does not constitute legal advice.
Our consultations last for a period of 1 hour and are conducted by our expert lawyers who are fluent in English, French and Thai.
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Frequently Asked Questions
How do I register my small business in Singapore?
- Choosing your preferred business structure
- Registering your company with the ACRA
- Setting up a corporate bank account
What are the requirements for registering a Singapore Company?
The following requirements must be satisfied to register a company in Singapore.
- Choosing a company name.
- Appointment of 1 or more directors: To qualify as a director in Singapore, directors must be individuals aged 18 and above who have yet to be disqualified from holding a directorship in Singapore or elsewhere.
- Appoint one or more resident directors: A company in Singapore must always have at least one resident director. During registration, a resident director must be a Singapore citizen, Permanent Resident, or holder of an EntrePass visa.
- Have between 1 – 50 shareholders: A shareholder can be an individual or a legal entity such as a trust or another company. 100% foreign ownership of Singapore companies is possible in Singapore.
- Paid-up capital: The minimum paid-up/share capital for a company to register in Singapore is S$1.
- A registered address in Singapore: The registered address for the company must be a physical address (not a P.O. Box) in Singapore.
- Appointment of a company secretary: Every company must appoint a company secretary.
- Appointment of an auditor: This is mandatory unless the company has been exempted from audit (which is the case for most start-up companies).
What are the documents for registering a business in Singapore?
Companies must register with ACRA (the Accounting and Corporate Regulatory Authority) when incorporating a company in Singapore. ACRA requires the following information and documents:
- Company name
- Brief description of activities & SSIC Code
- Details of shareholders and KYC information
- Details of directors and KYC information
- Registered Singaporean Business Address
- Share capital details
- The company’s constitution
How to register a company in Singapopre?
In Singapore there are two steps in the process of company formation in Singapore: reserving a name and registering the company.
1. Reserving the company name
Before registering a business in Singapore, ACRA must approve your desired company name (this usually takes a day).
Please note that if the proposed name contains specific words the related governmental authority may need to review and approve the name. Restricted words include:
- media,
- bank,
- law,
- finance,
- or education
To ensure your chosen name gets approved, companies should make sure that the name is not:
- Similar/identical to an existing company in Singapore
- Vulgar/obscene
- Already reserved
Approved company names will be reserved for 60 days from the date of your application. If you need to extend the name reservation for another 60 days, you may file an extension before the initial reservation expires.
2. Registering the company
Once your company name has received approval, filing the registration paperwork and obtaining approval from the ACRA can be done in just a day.
What are post-incorporation requirements?
- ACRA will send a Certificate of Incorporation via email. This certificate is used as confirmation for the registration of your company and includes your business registration number.
- The creation of a Business Profile (Bizfile). ACRA will also provide the business profile of your new company. The Bizfile acts as the identity card of the company.
- Opening a corporate bank account. After successfully registering your Singapore business, you can open a corporate bank account.
- Applying for the relevant Business Licenses. You might also need to apply for business licenses depending on your business’s activities.
- Registration for Goods and Service Tax (GST). If your expected annual turnover exceeds S$1 million, the company must register for Goods & Services Tax, or GST. If you do not expect your business’ yearly turnovers to reach S$1 million, you are not required to register for GS
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