setup-your-businessIf you’re planning to register a new company in Singapore or if you already have an existing company you want to relocate, it’s important to keep in mind that most business companies in Singapore are registered as private limited companies. This means that it’s an entirely separate legal entity. Similarly, its shareholders cannot be held liable for any of the company’s debts which go beyond the share capital amount they have contributed. The Singapore Companies Act considers any individual both local and foreign who is above 18 years of age to be eligible to register a new or existing Singapore company. Private limited companies are very well structured. In terms of taxes, they are very efficient and reliable since they are a corporate entity. They are the most popular kind of business registered entity in Singapore. So what is the process required to incorporate a company in Singapore?

Registration Process

registrationThe Singapore Registrar of Companies has made sure that all company registration processes and procedures in Singapore will be fully computerized. Because of this, the incorporation process of Singapore companies is highly efficient and precise. It doesn’t contain any bureaucratic red tape typically found in non-computerized systems. The regular processing time for a company to be successfully incorporated is between one to two days. It involves two major steps which are the Company Name Approval and the Official Registration.

Step 1: Company Name Approval

In order to successfully incorporate a new or existing company in Singapore, it’s essential to have company name which has been officially approved. A name proposal is the first and most important step of this process. An application form from the Company Registrar should be completely and honestly filled out. A service firm of your choice will be able to officially register your company. They will handle the entire name reservation process and ensure that you have fulfilled all the necessary requirements. The standard processing time for company name approvals is less than an hour. After this time has elapsed, you will be informed whether or not your proposed company name has been approved. There are certain words which usually requires review and approval from an external government authority. To have a higher chance of getting your name approved, it’s best to ensure that there

A service firm of your choice will be able to officially register your company. They will handle the entire name reservation process and ensure that you have fulfilled all the necessary requirements. The standard processing time for company name approvals is less than an hour. After this time has elapsed, you will be informed whether or not your proposed company name has been approved. There are certain words which usually requires review and approval from an external government authority. To have a higher chance of getting your name approved, it’s best to ensure that there isn’t any existing identical local company names similar to your proposal. It’s also important to ensure that there aren’t trademark infringements to make the process go more smoothly. Make sure your proposed name does not contain any obscene or vulgar words to avoid getting rejected and speed up the process. Finally, it’s best to propose a unique name so that you can lower of it already being reserved by another entity. Once your name gets approved, it will be reserved

Finally, it’s best to propose a unique name so that you can lower of it already being reserved by another entity. Once your name gets approved, it will be reserved to you for a maximum of sixty days beginning from the date of your application. If you’re still undecided regarding your company name after sixty days, you may extend your reservation for another sixty days. The extension request should be done a few days before the original deadline expires.

Step 2: Official Registration

After your company name has been successfully approved, you can proceed with filing the incorporation request. You will also be needing the approval of the Registrar of Companies which is usually completed within just a couple of hours. This should be done only when all incorporation documents are complete and ready to be submitted. All directors and shareholders of your new company should have already signed the documents before submitting them. Most of the time, the incorporation process gets delayed due to incomplete signatures from directors and shareholders. Delays may also happen if any of the directors and shareholders are from different nationalities and not born in Singapore. Although these are rare cases, authorities usually require additional documentation and information before they approve the registration.

Most of the time, the incorporation process gets delayed due to incomplete signatures from directors and shareholders. Delays may also happen if any of the directors and shareholders are from different nationalities and not born in Singapore. Although these are rare cases, authorities usually require additional documentation and information before they approve the registration. The amount of the registration fee is $315 Singapore dollars. It should be paid directly to the Registrar of Companies during the time when the private limited company is being incorporated.

The official registration process is usually very efficient since everything is done digitally. To avoid any delays, make sure that there are no misspelled words, incomplete signatures or inaccurate information in your submitted documents. This is the last and final step of the incorporation process for new companies in Singapore.