Singapore is globally renowned as one of the best countries to operate a business. And it’s surprisingly quick and easy to do so. Read our step by step guide on how you can complete your Singapore company registration to operate out of Singapore within just days.
Steps for Singapore Company Registration
Step 1 – Choose a Registered Singapore Company Incorporation Service Provider
First things first, the Singapore Government requires all prospective companies wishing to register in Singapore who are foreigners to use an officially registered Singapore company registration service provider.
This helps your new company to comply with the Singapore Accounting and Corporate Regulatory Authority (ACRA), an agency of the Singapore Government.
Your chosen Singapore company registration service will also guide you through every step we layout here to make the process as quick and seamless as possible.
Once you choose your company registration service, they should have a Singapore company setup onboarding form you can complete online.
Step 2 – Singapore Company Registration Service Due Diligence
Once they have your details, they will do some due diligence to make sure everything is legitimate.
This helps protect both your interests and the interests of your company registration service provider. While Singapore is one of the most transparent places in the world to do business, it’s important that it’s a level playing field for everyone.
As long as you fill out the onboarding form truthfully and accurately, you won’t have any issues here.
Step 3 – Choose Your Singapore Company Registration Package
Most Singapore company registration services will have packages that you can pick from, ranging from the most basic, to full service packages that will even introduce you to the local bank manager with a great referral.
Here’s an online singapore company incorporation wizard that can tailor a package for your needs.
If you choose a reputable Singapore company registration service provider, they could have you legally able to operate out of Singapore in just one day.
Step 4 – Reserve Your Singapore Company Name
You can submit your company name to ACRA via your Singapore company registration service provider, and they will do all the follow up here for you.
There are just a few things to be aware of when you’re registering your Singapore company name:
- The company name must be completely different to any other Singapore company
- The company name cannot be rude or obscene
- The company name cannot infringe on any trademarks
- The company name cannot be currently reserved by another company
If your Singapore company name follows that criteria, ACRA will usually approve it in under an hour.
The only exception here would be if your Singapore company is operating in a field that requires a license, such as law, medicine, accountancy etc. In these cases it may take a few weeks for ACRA to make sure you are a legitimate practitioner in your field.
Once ACRA approves your Singapore company name, they will reserve it for you for up to 120 days, but they will release it to anyone who wants it after that.
Step 5 – Sign Your Singapore Company Registration Documents
All you have to do now is have the following documents prepared for ACRA to approve your Singapore company registration. Again, your Singapore company registration service provider will walk you through this process.
Documents Required for Singapore Company Registration
- A Consent to Act form that is signed by each of your Singapore company Directors
- A Consent to Act form that is signed by your Singapore company secretary
- A Company Constitution. You can tailor your own constitution, or just use the template provided by the Singapore Government.
- Proof of address for all officers and shareholders of your Singapore Company
- Anti-money laundering due diligence, called “Know Your Customer” (done by your service provider)
If all of your Singapore company registration documents are in order, your Singapore company registration provider should have this approved with ACRA within the day.
Step 6 – Incorporate Your Singapore Company with ACRA
Once this is done, there is just the final submission of your Singapore company registration to ACRA. This is done online and should take less than an hour.
Step 7 – Legally Operate Your Company in Singapore
That’s it! Assuming all goes smoothly (which it usually does), you’ll be able to legally operate in Singapore. Best of all, as long as you have all the right details and documentation arranged prior, the entire Singapore company registration process can take just one day.
There will be some follow-up processes like banking and other supporting documents, but your Singapore company incorporation provider will help you with all of that.
Singapore Company Registration Summary
Here’s a summary breakdown of the Singapore Company registration process, and how it would work with a Singapore company registration service. For the sake of simplicity, we will use Singapore company incorporation specialists as your service provider.
|Step 1||Choose a registered Singapore company incorporation service.||Client||15 minutes||Remember, you get what you pay for here, so make sure you have a quality Singapore company registration provider. Choose us as your Singapore company registration provider, and complete your onboarding form online.|
|Step 2||Singapore company registration service due diligence.||SCI||1 hour||We will check over your onboarding information to ensure you are legitimate. Make sure your onboarding application has all the correct information to ensure speedy approval.|
|Step 3||Choose your Singapore company registration package.||SCI/Client||10 mins||Find a package that suits your needs.|
|Step 4||Reserve your company name.||SCI||30 mins||As long as you follow the naming criteria, you should have no problems being approved very quickly.|
|Step 5||Sign your Singapore company registration. documents.||Client||30 minutes||This can be done in our offices or can be done overseas, overseen by a notary public or at a Singapore High Commission.|
|Step 6||Incorporate your Singapore company with ACRA.||SCI||1 hour||Upon incorporation, you will be issued a Certificate of Incorporation and a Business Profile by ACRA.|
|Step 7||Legally operate your company in Singapore.||Client||1 day||Congratulations! From here SCI will walk you through any follow-up processes required.|
As you can see, it’s a relatively quick and simple process for Singapore company registration. The key is to pick the right Singapore company registration service provider.
While all of these service providers are officially registered with the Singapore Government, you will still find services of varying quality.
Make sure you pick a Singapore company service provider that pulls out all the stops for you, and you’ll be delighted at how quickly and easily you’ll be operating out of one of the most lucrative business hubs on earth!
Incorporate a company in Singapore seamlessly
Singapore Company Incorporation is the leading force in company registration in Singapore. With a gamut of services including Work Visas & Relocation, Accounting & Taxation, Business Licenses, Company Secretary and Trademark Registration, we are well-positioned to support your business.