3 Steps to Register a Company in Singapore:
- The first step in registering a company in Singapore is to submit an online application via BizFile+, the electronic filing and information retrieval system of the Accounting and Corporate Regulatory Authority (ACRA). Company incorporation is needed before any business can commence its operations.The entire process is as simple as ABC, given that the procedure is now fully computerised. To submit the application, the applicant must log in using his ID number and SingPass. Applicants may seek professional advice and assistance of registered filing agents such as a law, accounting, or corporate secretarial firms in doing the incorporation to ensure all necessary regulatory requirements are met.
- After the online filing, applicants should have the company name approved. This part of the process is simple, as it may take less than an hour to have the proposed name authorised. Applicants must be ready to pay a name approval fee of $15. However, company names with certain words such as bank, finance, law, and media might need further approval from a related government authority. Once approved, the name will be reserved for 60 days from the date of application.
- The next important step on how to register a company in Singapore is the filing of the incorporation request. This step, along with the approval from the Registrar of Companies, can take only a few hours if the incorporation documents are duly signed by the directors and shareholders of the company. However, should the application be referred to another agency for review, the process may take longer, for a few weeks to two months. There will also be a $300 registration fee to complete the procedure. The business can commence its operations once registered in ACRA.
You can find further details on how to register a company in Singapore in the ACRA website.
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