Companies registration in Singapore
To register a company in Singapore, you must first choose a business structure. The most common business structures in Singapore are:
Sole proprietorship: This is the simplest business structure, and it is ideal for small businesses owned and operated by one person.
Partnership: This is a business structure for two or more people who are jointly running a business.
Company: This is the most complex business structure, but it also offers the most protection for the owners.
If you choose to register a company, you will need to follow these steps:
Choose a company name. The company name must be unique and not already in use by another company. You can reserve a company name for up to 120 days by submitting an application to the Accounting and Corporate Regulatory Authority (ACRA).
Appoint directors and shareholders. Every company must have at least one director and one shareholder. Directors are responsible for managing the company, while shareholders own shares in the company.
Decide on the company's registered office address. The registered office address is the official address of the company and it is where all official correspondence will be sent.
Prepare a company constitution. The company constitution is the company's governing document and it sets out the rules and regulations for how the company will be run.
Submit an application to ACRA. The application can be submitted online or by mail. You will need to provide ACRA with all of the required information, such as the company name, directors, shareholders, registered office address, and company constitution.
Pay the registration fee. The registration fee is SGD300.
Once your application has been approved, ACRA will issue you a Certificate of Incorporation. This means that your company is now officially registered and you can start doing business.
Foreigners registering a company in Singapore
Foreigners can also register a company in Singapore. However, there are some additional requirements that they must meet. For example, there must be at least one director who is a Singapore citizen, Singapore permanent resident, or EntrePass holder. Foreigners will also need to engage the services of a registered filing agent to submit the application on their behalf.
Benefits of registering a company in Singapore
There are many benefits to registering a company in Singapore, including:
Pro-business environment: Singapore has a pro-business environment with low taxes and a stable regulatory framework.
Skilled workforce: Singapore has a highly skilled workforce that is proficient in English.
Strategic location: Singapore is strategically located in Southeast Asia, making it a good base for doing business in the region.
Where to Get Help with Company Registration in Singapore
If you need help with company registration in Singapore, you can contact Bestar. Bestar can help you with the entire company registration process, from choosing a company name to submitting the application to ACRA. Bestar is a registered filing agent in Singapore that can help you with the entire company registration process. We have a team of experienced professionals who can guide you through each step and ensure that your application is complete and accurate.
Here are some of the benefits of using Bestar to register your company in Singapore:
Convenience: Bestar can handle the entire registration process on your behalf, so you don't have to worry about any of the paperwork or hassle.
Accuracy: Bestar's team of professionals will ensure that your application is complete and accurate, so you can be confident that your company will be registered without any delays.
Affordability: Bestar's fees are very affordable, especially when you consider the time and hassle that they can save you.
If you are considering registering a company in Singapore, contact Bestar for help. We can make the process much easier and more efficient for you.