Once you choose the business entity type, you can begin the registration process of your company. Below are some primary steps required to incorporate a company in Singapore.
- Understanding and sticking to Singapore’s enterprise and trade regulations
Before incorporating a company in Singapore, it is prudent to remain well-versed with all the specified rules and regulations of the state. Also, it is mandatory to comply with all the applicable laws for successful company registration.
- Choose a suitable company title
After thoroughly understanding the trade requirements and making your business compliant with the appropriate laws, you can move ahead with choosing a relevant title for your business. However, remember that the company’s title should always remain coherent with the business statutes of Singapore, and the applied title should not be identical to other names registered and approved by ACRA.
- Completing registration application with the competent authority
Once you get approval on the company title and other criteria, such as business type, consent of the directors and Company Secretary, and supporting documents, complete the company registration application with ACRA. Nevertheless, carrying all the relevant documents for successful company registration is essential.
- Successful company registration
If the competent officer (ACRA) thinks the applicant company fulfilled all the criteria, they will approve the registration, and the company promoters can begin the incorporation procedure.
- Post-registration accountabilities
Even when your company gets registered in Singapore, you must still follow some compliance rules. And one of the most significant post-registration responsibilities is opening a company account. So ensure you maintain a bank account with Singapore’s regional or international bank. Furthermore, you must also carry all the necessary licences and permits along with a business website to diversify your reach among local audiences.