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Singaporean startup ecosystem represents enormous potential for the entrepreneurs who vie each other to incorporate a company in Singapore. Some services providers offer cost-effective incorporation packages.
Incorporate a Company in Singapore
Singapore has always welcomed foreign traders. Today, foreign investors travel to it to incorporate a company in Singapore. The authorities there are pro-business and allow 100% foreign ownership. Singapore taxes are famously low, and the investors can easily repatriate their profits.
A number of incorporation agents are there to register a company in Singapore for foreigners and locals. Many of them offer combo Singapore company incorporation packages & fees are affordable. You get multiple services for the cost one. It is a great way of bringing the cost of incorporation down.
Singapore business incorporation is a straightforward process. It has only two procedures in it. It takes no time if your incorporation documents are ready. The process for company registration is divided into two steps; A) Taking Approval for Company Name and, 2) Applying to ACRA for the Registration of Company.
Before you could incorporate a company in Singapore, you must get the name of the proposed company approved by ACRA (Company Registrar of Singapore). The process is online and takes only a while to accomplish it. If the application gets referred to external authorities, it may take up to 2 months for approval.
ACRA feels that each company must have a unique name for the benefit of investors. It does not give its approval to the names that are obscene, vulgar, or identical to names of existing companies. The name should also not infringe on any existing trademarks or logos.
With an approved company name in hand, you can move ahead with the Singapore company formation. Next step is to file an application with ACRA properly signed by the all the directors & shareholders of your proposed company. Your Singapore business incorporation services provider can take care of it.
After the successful incorporation your company, the Company Registrar sends an email to your services provider. It contains Certificate of Incorporation of your company. It contains the Unique Entity Number (UEN) for your business. The soft copy of the certificate serves well in Singapore. Your provider can pay the fee on your behalf and get its hard copy for you.
The mail from ACRA also contains your business’ particulars in the form of a business profile. It contains the company name, UEN, the previous name of the company (if any), date of incorporation, principal activities, paid-up capital registered address, details of shareholders, directors, company secretary, etc.
Your services provider can assist you in taking care of a few important tasks after the registration of the company. They help you in applying and acquiring the business permits and licenses, opening CPF account, opening a corporate bank account, GST registration, etc.
Do you need assistance with your
Singapore company registration in Singapore?
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