The process of company registration Singapore is one of the first steps to establishing a business in Singapore. It is a process that involves completing a series of forms and other related paperwork. The steps also involve obtaining the necessary licenses and permits based on the nature of your business. It is a good idea to hire the services of an experienced corporate services provider to guide you through the process.
One of the most important parts of company registration Singapore is choosing an appropriate name. You will need to ensure that the name you choose is available and that it has not been taken up by another business. You can check on the availability of a company name through the Accounting and Corporate Regulatory Authority (ACRA) website. You should also make sure that your chosen name is spelt correctly.
Once you have selected a name, the next step in the process is to submit your application with ACRA. This is typically done online and you will need to provide a detailed memorandum of association, which includes crucial information such as the company’s objectives and structure. ACRA provides a standard format for this document, which should be followed closely.
After the memorandum and articles of association have been completed, you will need to pay a registration fee. The amount of the fee will depend on the type of business you are registering. A minimum of SGD 1 worth of paid-up capital is required for private limited companies. You will also need to appoint at least one resident director and you can have up to 50 shareholders. Foreign ownership is allowed, but some regulated industries require a higher minimum share capital.