What is a UEN? How to Get a UEN in Singapore? | Bestar

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What is a UEN? How to Get a UEN in Singapore?

• There are several requirements that an
  individual/business entity/company must fulfil
  for their incorporation in Singapore. UEN (Unique
  Entity Number) is one of them. It is a string of
  numbers to identify a specific entity/number of
  businesses registered in Singapore.
• Explore Best Company Incorporation Services in
  Singapore
• You can obtain a special UEN from a list of
  preferred UENs. In this blog, we will walk you
  through what UEN is and the process of obtaining
  it.

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What is a UEN? How to Get a UEN in Singapore?
Tax Planning While Being In Singapore

• What is a UEN?
• It is like an NRIC to identify business entities
  registered in Singapore, including other business
  structures, such as sole proprietorships
  partnerships. For the businesses registered with
  ACRA, including local companies, UEN is their
  registration number.
• All other registered entities in Singapore will
  be issued a UEN, separate different from their
  registration number. The following entities are
  not entitled to the issuance of UEN
• Sub-Entities, such as divisions or branches of an
  entity.
• Entities with a one-off interaction or dont
  interact with a Government Agency.
• Read more about How do I set up a company in
  Singapore Quick guide!

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What is a UEN? How to Get a UEN in Singapore?
Tax Planning While Being In Singapore

• What is the Purpose of UEN in Singapore?
• UEN is a standard number for your business to
  communicate interact with government agencies.
  It is a single number for applying for trade
  permits, filing tax returns, updating particulars
  with ACRA, CPF contributions, and more
  activities.
• UEN makes your business appears more legitimate
  authentic to business partners, customers, and
  suppliers. Your business information
  registration can be verified searched via ACRA
  through UEN. It expedites credit financing
  contracting.
• One of the best advantages of UEN is that you can
  utilise PayNow Corporate to make payments to your
  suppliers receive from your customers
  instantaneously by linking your UEN to your
  business bank account.
• It is extensively beneficial for online
  businesses for organisations looking for a
  smooth quick payment mode for their suppliers
  customers.

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What is a UEN? How to Get a UEN in Singapore?
Tax Planning While Being In Singapore

• What is the Process for Obtaining a UEN?
• For businesses registered in Singapore, their
  registration number is their UEN. For other
  entities, the following is the process to obtain
  a UEN

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What is a UEN? How to Get a UEN in Singapore?
Tax Planning While Being In Singapore

• Selecting a Business Structure
• You can select your business structure from
  various available ones in Singapore, depending on
  your business requirements needs, such as sole
  proprietorship, limited partnership, or a limited
  liability partnership (LLP). You can opt for
  small, mid, or large-scale partnerships depending
  on the number of partners and funding.
• Small-scale partnership firms are subject to less
  complex legal rules regulations. And they have
  flexibility in conducting their business. There
  is no necessity to hold AGMs, as partners must
  declare Personal Income pay taxes.
• If the capital is high, the companies have
  advantages of future expansions funds raising
  from markets. However, they must adhere to rigid
  regulatory compliance rules in Singapore for
  filing tax returns, conducting AGMs, auditing,
  and more.

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What is a UEN? How to Get a UEN in Singapore?
Tax Planning While Being In Singapore

• Business Registration
• After deciding on Business Structure, the next
  thing is registering your business on the
  BizFile website, which is a quick process unless
  your business is regulating in architecture,
  defence, or real estate industries.
• The registration fee for sole proprietors,
  partnerships, and LLPs for a 1-year registration
  is S115, and for three years, it is S175.
  However, the cost for company incorporation is a
  one-time S315, including business name
  registration.

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What is a UEN? How to Get a UEN in Singapore?
Tax Planning While Being In Singapore

• Special UEN
• After business registration, you must determine
  whether you want a standard UEN or a special UEN,
  reserved for quick remembering fancy appearing
  numbers. However, for Special UEN, there are
  extra costs apart from business registration.

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What is a UEN? How to Get a UEN in Singapore?
Tax Planning While Being In Singapore

• Verifying UEN
• After business registration selection of UEN,
  you will be issued a business profile containing
  your business details UEN. You can check your
  UEN through a free search on UEN.gov.sg or
  Bizfile.

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What is a UEN? How to Get a UEN in Singapore?
Tax Planning While Being In Singapore

• How to Obtain Special UEN (SUN)?
• Many businesses want a Special UEN instead of a
  randomly allotted one. Instead of obtaining a
  system-generated UEN, you can choose SUN from the
  reserved UENs list. Special UENs increase
  business reputation status, also strengthening
  credit. SUNs have two tiers which are
  straightforward to remember

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What is a UEN? How to Get a UEN in Singapore?
Tax Planning While Being In Singapore

• Tier 1
• Special UENs with the same consecutive numbers or
  containing the digit 8, such as 20188888A and
  201800800K. They cost S3,000 each, apart from
  the business registration fee.

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What is a UEN? How to Get a UEN in Singapore?
Tax Planning While Being In Singapore

• Tier 2
• These Special UENs either have repetitive
  patterns excluding the digit 8 or end with
  identical triple numbers, such as 201812121R and
  53410101G. It costs S1,000 each, excluding the
  business registration amount.
• Regular UEN is generated randomly, such as
  201646437E or 201035876H.
• Important Note You can purchase Special UEN only
  during the business registration payment stage.
  If you miss it, you wont get another chance to
  convert UEN to Special UEN later. For that, you
  must either register a new whole business or
  change your business structure.

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What is a UEN? How to Get a UEN in Singapore?
Tax Planning While Being In Singapore

• Where to Display Your UEN?
• You must use show your UEN while transacting
  with Government Agencies in Singapore, such as
  ACRA, IRAS, CPF Board, and the Department of
  Statistics. Companies must display it on all
  their invoices, account statements, official
  notices, business letters, and even company
  publications.
• Companies dont need to renew UEN as they have
  perpetual succession in Singapore once
  incorporated. And it remains on the list of
  registered companies unless they exist.
• However, sole proprietorships, partnerships, and
  LLPs are registered on a term basis. Hence, they
  must renew their business registration after the
  term expires to continue their business retain
  existing UEN.

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What is a UEN? How to Get a UEN in Singapore?
Conclusion

• After reading the blog, you will have a firm
  comprehension of what UEN and special UEN are,
  their purpose, and the process for obtaining
  them. Also, you will know where to use them
  whether to renew them or not. However, if you
  have questions, feel free to contact us.
• At Bestar Services, we provide Company
  Incorporation Services in Singapore. Our highly
  qualified competent business advisory
  consultants will assist you with the process,
  including obtaining UEN and special UEN.
• For a consultation with our Business Advisory
  Consultant or any queries, contact us via email
  at admin_at_bestar.asia or call at 65 62994730.

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