How to Register Company In Singapore

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How to Register Company in Singapore
If you are a foreign individual or corporate bent
on a new company setup in Singapore, then let me
tell you, you have chosen well. Singapore is an
ideal business destination. As per the World Bank
Report 2020, it is 2nd best place to do business.
Here is a guide to help you speed up your company
registration in Singapore. Innovative business
ideas can grab you by the throat and make you
take action, such as company registration. If you
are at such a juncture, do not hesitate. Your
inexperience with the Singapore business
environment or lack of knowledge about how to go
about company registration Singapore doesnt
count. Dont let it stop you. Steps to a New
Company Setup in Singapore In Singapore, you can
hire one of the agents or providers of company
registration services for the task. For an
affordable fee, you can leverage their expertise
to start your new Singapore company without any
hassles. Even ACRA, the Company Registrar, advise
it. If you are local, then you too can hire an
agent and outsource the task. Let us see the
steps that will assist you in getting the job
done.
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How to Register a New Company in ' Singapore
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https//www.sbsgroup.com.sg/
Step 1. Choose the Right Business Structure The
first step to company registration in Singapore
is choosing the right business structure that
will fulfil your needs. You can choose to form a
private limited company, sole proprietorship, or
limited liability partnership. The private
limited company is popular with business owners
as it limits their liability to the amount they
have invested in its shares. It has a legal
identity separate from its owners. Step2. Setup
Business in Singapore with ACRA You need to apply
to ACRA for your new company setup in Singapore
and afterwards complete a few post-registration
procedures. Before you initiate the process, make
sure that you have
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At least one shareholder
At least one local director At least
one company secretary Minimum paid-up
capital of S Registered local address Let
us see the two procedures to complete company
registration in Singapore. Procedure A) Register
Company Name First, you need to check the
availability of a company name in the registry
and register it by paying the appropriate fee to
ACRA. Your agent can help you with the task by
visiting the BizFile portal. Procedure B) Apply
to Register Your Company Next step is to apply
to ACRA to register your Singapore company. You
also need to submit your incorporation and KYC
documents to ACRA. Your agent, as an authorised
entity, can do it for you and also pay the ACRAs
fee to register your company. In normal
circumstances, ACRA takes about 1-3 days to
process an application to setup business in
Singapore. On successful company registration,
the agency sends an email containing the
incorporation certificate, unique entity number,
business profile, and etc.
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If your application gets referred to higher
authorities, then the approval may take up to 2
months. ACRA fees for a new company setup in
Singapore comes to around S315 (S15 for company
name registration and S300 for company
registration). Post Company Registration
Tasks After successful company registration in
Singapore, you need to complete a few tasks
before you could start your business
activities. Open corporate bank account in a
local Singaporean bank Apply and acquire
business licenses and permits Open CPF
account and top it up Pay statutory levies
Register for GST Hire auditor The email
sent by ACRA on successful company registration
acts as the Incorporation Certificate in
Singapore. You can obtain its hard copy by paying
a small fee to ACRA. Opening a corporate bank
account is an important step. It will separate
your personal and business finances.
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Choose your company name carefully, as ACRA has
the right to reject vulgar, blacklisted,
inappropriate company names. It will only delay
your company registration Singapore. Under the
Home Office scheme, you can also use the address
of an HDB or URA flat for company registration in
Singapore. However, you need permission from
proper authorities to do so. For more info visit
here https//www.sbsgroup.com.sg/blog/procedure-t
o-register- company-in-singapore/