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Zero-to-Company: How to Register Your Singapore Company
Zero-to-Company: The Only Guide You Need to Register a Company in Singapore It’s exciting to start your own business in Singapore. Singapore is the best place to start your business…
Zero-to-Company: The Only Guide You Need to Register a Company in Singapore
It’s exciting to start your own business in Singapore. Singapore is the best place to start your business because it has a strong economy, a good location, and a business-friendly environment. But if you’re registering a business for the first time, it can seem like a big deal.
This step-by-step guide will make the whole process clear, turning you from a budding entrepreneur into the proud owner of a legally registered business in Singapore.
Step 1: Getting Ready (Checklist for Pre-Registration)
Before you can even log into the ACRA portal, you need to have three things in place:
- Company Name: Pick a name that is not already in use and is not too common. Make sure it doesn’t look too much like anything else and doesn’t violate any trademarks.
- Directors: You need to hire at least one director who lives in Singapore most of the time (a Singapore Citizen, Permanent Resident, or EntrePass holder).
- Shareholders: There must be at least one and no more than 50 shareholders. These can be people or businesses, and they can be from the area or from another country.
- Company Secretary: You have six months after your business is set up to hire a qualified company secretary. This is a legal requirement, and the secretary makes sure that your business follows the Companies Act.
- Paid-Up Capital: To start a business, you need at least S$1 in paid-up capital. After incorporation, this can be raised at any time.
- Registered Address: You need to have a real address in the area (not a P.O. Box) where official papers and notices can be delivered.
Step 2: The Order in Which You Should Register
1. Get your company name ready
The first thing you do with the Accounting and Corporate Regulatory Authority (ACRA) is reserve the name of your business through its BizFile+ portal. This is a quick process that happens online. Usually, you get approval right away or within a few hours. If you get the name approved, it will be yours for 120 days.
2. Get the paperwork ready and file it.
Now that your name is set aside, it’s time to get the main documents ready to send in. This includes:
- The new Memorandum & Articles of Association are now the company’s constitution.
- Details about all shareholders, directors, and the secretary of the company.
- A statement of compliance.
This is the most important step, and accuracy is very important to avoid delays or rejection.
Step 3: Knowing how shares are structured and how much paid-up capital there is
- Structure of Shares: Choose how much money your company will have in shares (for example, 1,000 ordinary shares at S$1.00 each) and how those shares will be divided among shareholders. This explains who owns and runs things.
- Paid-Up Capital: This is the total amount of money that shareholders have put into the company. It can be as little as S$1, as we said. This capital shows how well the company is doing financially and can be used for business purposes.
Step 4: The KYC and Compliance Check
You and your shareholders/directors will need to go through a “Know Your Customer” (KYC) process as part of Singapore’s strict rules. This means showing proof of your identity (like a passport or NRIC) and proof of your address. A professional corporate service provider like Aura Partners makes this easier by quickly checking the information.
Step 5: Costs, Timeline, and Common Mistakes
Expected Timeframe
People say that registering a business in Singapore is very quick and easy. ACRA usually processes and approves applications within 1 to 2 business days if all the paperwork is in order. Once your application is approved, you will get a digital business profile right away.
Costs that go along with it
The basic fee that ACRA charges for filing is about S$315. Most business owners, on the other hand, hire a professional firm to make sure everything is correct and follows the rules. The total cost of a full-service company incorporation package in Singapore depends on the provider and any extra services you want.
Things to Stay Away From:
- Picking a Name That Doesn’t Follow the Rules Do a thorough search for names to avoid being turned down.
- Making mistakes when preparing documents, such as in the constitution or share allocation, can cause big delays.
- Not Appointing a Secretary: If you don’t appoint a secretary within the time limit set by the law, you could face fines.
- Not Following Steps After Incorporation: You still have things to do after ACRA approves your application. You need to open a business bank account, get the right business licenses, and know what you need to do to stay in compliance (like filing your taxes every year).
What comes next after registration and operation?
Good job! Your business is now a legal entity once you get your company registration certificate from ACRA. The next important steps are:
- Starting a business bank account.
- If you expect your taxable turnover to be more than S$1 million a year, you need to register for Goods and Services Tax (GST).
- Setting up your systems for keeping track of your money and records.
- Getting any necessary business licenses, such as those for food and beverage, travel agencies, or financial services.
Are you ready to set up your Singapore company? Let Aura Partners help you.
You can go through this process on your own, but the details of compliance and paperwork can take your mind off what you do best: running your business.
Aura Partners (Singapore) Pte Ltd helps both local and foreign business owners register their companies without any problems. We take care of the whole thing for you, making sure it’s quick, correct, and easy.
📞 Your Singapore business is waiting for you. Do it today.
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