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How to Register a Company in Singapore

Singapore has consistently topped the World Bank’s “Doing Business” report that tracks and scores the indicators of the ease of doing business in over 190 countries of the world.

Particularly, Singapore’s score for indicators measuring the ‘ease of starting a business’ has always been remarkably high. It is mainly attributable to factors such as quick and easy online registration, the S$1 minimum paid-up capital requirement and low registration fees. The Accounting & Corporate Regulatory Authority (ACRA) supervises the process for company registration in Singapore. The following article is an overview of the ten simple steps to register a company in Singapore. 

Register a Company in Singapore
Finalize the Entity Type.

Before you register the business, it is essential to choose the legal structure that is ideally suitable for the nature of your business and would maximize the tax benefits. As a Private Limited Company entity type involves higher registration cost and complex compliance requirements after registration, first-time entrepreneurs must carefully consider the implications of choosing to register a business as a private limited company. It is not prudent to absorb a compliance obligation and cost structure that is disproportionate to the scale of risks involved or incomes generated by the business.

Choose, Check, Reserve and Register a Company Name.

Naming your business is undoubtedly an exciting experience. While you may seek suggestion from your associates and well-wishers, choose a name that is relevant to your business in the long run. You have to be mindful of the fact that ACRA will decline registration of names that are undesirable, or identical to any registered to reserved name, or unacceptable as per the direction of the Minister.

After you have come up with a list of potential names, check if they are available. It is likely that the names are already reserved or registered by some other company or individuals. This name-checking step will help you to identify and shortlist the names on your list.

Get Required Details Ready.

The following items must be ready before proceeding with the registration process.

  • ACRA approved company name
  • Brief description of business activities
  • You need to appoint a minimum of one resident director in your company – the personal identification and address details
  • You can have anywhere between 1-50 shareholders – the personal identification and address details of each of the shareholders. In the case of corporate shareholders, the certificate of incorporation and Memorandum and Articles of Association. In the case of foreigners, their passport and overseas residential address proof, and other Know-Your-Client (KYC) information such as a bank reference letter, personal and business profile, etc
  • You need a local registered address for the company office in Singapore
  • You need to appoint an ordinarily resident person as a Company Secretary within six months from the date of company incorporation. In the case of a sole director, the director cannot act as a Company Secretary
  • You need paid-up initial capital of minimum $1
Register a Singapore Company.

Upon approval of the name by ACRA, you may proceed to register your company. After submitting the duly signed application form and all relevant documents and payment of the registration fees, the Registrar will approve the registration within one working day in most of the cases. In some rare cases, the Registrar may request additional information or documents.

Issue of Certificate of Incorporation.

When the application of registration is approved, and the Singapore company incorporation is successfully completed, ACRA will send an official email notification to confirm it. The email notification includes the company registration number and is treated as the official Certificate of Incorporation in Singapore, and no hard copy is issued. However, if you need one, you can make an online request to ACRA after incorporation by paying $50 per copy. Hard copy Certificates of Incorporation can be collected from the ACRA office the day after filing the online request.
The Registrar also has a Business Profile created for your company upon incorporation. The Business Profile is a PDF document that has the following information:

  • Company name and registration number
  • Previous names for the company, if any
  • Incorporation date
  • Principal activities
  • Paid-up capital
  • Registered address
  • Shareholders details
  • Directors details
  • Company Secretary details

A copy of this can be requested online from ACRA by paying a nominal fee. The copy of the Certificate of Incorporation and a copy of the Business Profile are the two commonly requested documents for purposes of contracts and other transactions.