New Company Incorporation in Singapore

Thinking about starting a new company in Singapore?

Here’s how we at Corporate Services Singapore can help you incorporate a company swiftly and efficiently.

WE GATHER THE REQUIREMENTS

We ensure that you have all the requirements you need to begin the company incorporation process. According to the Companies Act, these include the following:

An identity card issued in Singapore. This can be your own or your representative’s, depending on who you assign to register your company.
A unique company name approved by the corporate regulatory authority ACRA.
A brief description of your business activities that details the nature of your operations and your products and services.
A local and physical business address. This address can either be residential or commercial, but it cannot be a P.O. Box only.
At least one nominee director that’s a resident of the country. The director must be at least 18 years of age with no past malpractice charges and bankruptcy.
1 to 50 shareholders that can either be locals or foreigners. Your chosen shareholders can also hold the position of directors should you decide to appoint them as such.
A resident corporate secretary should be appointed during the first six months of your company’s formation.
At least $1 paid-up share capital is likewise mandatory to register your private limited company. You can increase the amount after you successfully incorporate the company.

We understand how time-consuming and rigorous it is to collect all these requirements. That’s why we at Corporate Services Singapore can do it for you. Once we have everything we need, we can proceed with our registration.

We Follow a Straightforward Process

We can eliminate all the stress generally associated with incorporating a business in Singapore because we follow a simple and straightforward process that includes the following steps.

Company Structure
1

We Help You Decide on a Corporate Structure

Deciding on a corporate structure can be challenging, especially if you’re not familiar with the requirements and advantages of each. In this step, we’ll guide you in making the right decision by sharing our field expertise.

Here are the three different structures you can explore: Private Limited Company, Sole Proprietorship, and Limited Liability Partnership. To choose the proper structure, here are the factors to consider.

  • Number of members/ owners/ partners: if you plan to set up your own company with you as the sole owner, a sole proprietorship may be the most beneficial for you. However, if you plan to have more than one member, you can choose between a private limited company or a limited liability partnership.
  • Initial investment: In terms of capital, you can start by setting up a sole proprietorship if you want to start small. Over time, as your business evolves, you can then convert it into a private limited company.
  • Liability: Your chosen business structure defines your liability. For instance, a sole proprietorship and a limited liability partnership have unlimited liability. Meaning, all their personal assets are put at risk. But for private limited companies, their liability is limited to only their shares, making their personal assets safe.
  • Income tax rates: Private limited companies have a corporate tax obligation ranging from 1-17%, which is dependent on the company’s income. However, sole proprietorships and partnerships have to pay a personal income tax ranging from 0-22%, depending on the income they obtain from their business/es.
  • Funding: Finally, if you want to obtain funding assistance from the government or financial institutions, private limited companies are deemed more credible than others and, therefore, get more chances of getting approved. On the other hand, the credibility of sole proprietorships and partnerships depends on the owner and the members, respectively. That's why it may be more challenging to get funding for their business activities.

With this in mind, we can help you choose the right structure to help you achieve your goals.

Company Name Approval
2

We Get Your Company Name Approved

After finalizing your business structure, it’s time to address your company name. We ensure to follow the guidelines set by the Singaporean government so you can have your name approved immediately. In doing so, we make sure to follow these criteria:

  • Uniqueness: The name we’ll choose will not be identical or closely similar to other existing business names in the country.
  • Availability: It will also not be reserved by other institutions or persons at the same time as your proposal.
  • Obscenity: The name we choose will not be vulgar or obscene. In addition, we’ll make sure that it will not insult any person, culture, or religion.
  • Trademark Infringement: Finally, we will choose a name that will not infringe on the copyright ownership of other companies or individuals.
New Company Incorporation Documents
3

We Get Signatures for the Incorporation Documents

Once the name is approved, we can then move on to preparing the necessary document, such as the Company Constitution, Consent of All Company Directors, Consent of the Company Secretary, and Declaration of Your Company’s Controllers.

We’ll approach the respective persons and have them sign these documents on your behalf.

Incorporation Requirements
4

We Submit the Requirements

With all the documents compiled and signed, we will then submit them to ACRA for final review and approval.

Since this can be done online, we can accomplish this step in less than an hour. Once we obtain the e-Certificate of Company Incorporation and Business Profile from ACRA, we’ll make sure to store them neatly and securely in your account.

Corporate Bank
5

We Open a Corporate Bank Account

Finally, after completing the company incorporation process, we can help you set up a corporate bank account, so you can keep track of all business transactions. We'll choose the most suitable bank that is not only safe and secure but also offers the most benefits for your company.

Why Engage Corporate Services Singapore?

We at Corporate Services Singapore can be with you every step, from obtaining all the requirements to submitting them and opening your corporate bank account. We have a team of field experts who understand all accounting and corporate regulatory guidelines and will help you meet all the requirements. Register your company smoothly with the help of our team at Corporate Services Singapore.