The business register in Singapore is maintained by the Accounting and Corporate Regulatory Authority (ACRA). It is a public database that contains information on all registered businesses in Singapore, including sole proprietorships, partnerships, companies, and limited liability partnerships.
To register a business in Singapore, you must first choose a business structure and reserve a business name. You can then register your business online through ACRA's Bizfile+ portal. The required information for registration will vary depending on your business structure.
Once your business is registered, you will be issued a Unique Entity Number (UEN). Your UEN is a unique identifier for your business and is used in all official transactions with ACRA and other government agencies.
You can search for information on any registered business in Singapore using the UEN or business name. The search results will include the business's registration number, registered office address, business status, and other relevant information.
Here are some of the benefits of registering your business in Singapore:
Legal recognition: Registering your business gives it legal status and recognition. This is important for entering into contracts, opening bank accounts, and obtaining licenses and permits.
Liability protection: If you register your business as a company or limited liability partnership, you will have limited liability. This means that your personal assets are protected from creditors in the event of business bankruptcy.
Tax benefits: There are a number of tax benefits available to registered businesses in Singapore. For example, new companies can enjoy a tax exemption on the first S$100,000 of taxable income.
Credibility: Registering your business shows that you are serious about your business and that you are committed to following the law. This can help you to attract customers and investors.
It is a relatively simple process and there are many benefits to doing so.
If you are planning to start a business in Singapore, register your business with Bestar
Bestar is a reputable corporate services provider in Singapore that offers a wide range of services, including company incorporation, accounting, and corporate secretarial services. We can help you to register your business in Singapore quickly and efficiently, and we can also provide you with ongoing support to help you to comply with all applicable laws and regulations.
Here are some of the benefits of registering your business with Bestar:
Expertise: Bestar has a team of experienced professionals who are experts in Singapore company law and regulations. We can help you to choose the right business structure for your needs and ensure that your business is registered correctly.
Convenience: Bestar can handle all aspects of the business registration process on your behalf. This can save you a lot of time and hassle, especially if you are not familiar with the Singaporean business environment.
Support: Bestar can provide you with ongoing support once your business is registered. This can include help with accounting, corporate secretarial services, and regulatory compliance.
If you are planning to start a business in Singapore, contact Bestar to learn more about our services and how we can help you to get started.