Register New Company Singapore
Register your company now, with our easy and fast process. Getting your company registered is not a complicated task at all. Soho provides you with an opportunity to get your company registered in a hassle-free process.
We have noticed that the demand to register for new company in Singapore has increased rapidly in the recent years. Singapore, being the hub of business, has been attracting several businesspeople from around the world. If you are also interested and planning to set up a company in Singapore, Then we are here to support and instruct you at every step. Hire us now, and let’s start the process.
Procedure to Register New Company in Singapore
The registration process for your company will be online and simple. We will be there to assist you throughout till the end. The process consists of typically three main steps;
Step 1: Getting the company name approved from ACRA
Step 2: Preparing the necessary documents
Step 3: Getting the company registered with ACRA
How Can You Register Your Company in Singapore?
One thing that can relieve your stress about the registration process is online and hassle-free. You can easily finish it from the comfort of your home. With Soho, you can get your application submitted easily on the same day.
The Register New Company Singapore Process at Soho
At Soho, you will be required to follow these steps to get your company registered;
- As soon as you reach out to us, we will discuss all your requirements and give you the final fee amount.
- You will be needed to pay the fee in the bank.
- Once you get registered with us, your separate user profile will be created to keep all the documents and details in one place.
- Our team members will be reaching out to you to get all the necessary information about your business.
- We will send the company name to ACRA for approval. Side by side, we will prepare the necessary documents required for the registration process.
- Once the full incorporation process is completed, Soho will help you open your company’s bank account.
Reserving the Company Name
The first thing you must do is get the company name approved from ACRA. It is an easy step but needs a bit of attention. It is advisable to select the name that reflects and delivers a clear picture to the clients. Also, keep in mind not to use vulgar language in the name as it can be rejected. Also, it can delay the application process.
You can follow these guidelines when making the name selection;
- It should be unique
- It should reflect your business idea
- It needs to be different from the existing companies
- It should not oppose the government’s rules and laws
- It should not use any rude language
- If you observe all the rules set by the government, your company name will be approved by ACRA within 60 minutes.
- If your company name contains any regulated business words, your application will be transferred to another name approving approval authorities. This will cause a delay in approval.
- If your company name gets approved, you can reserve it for 4 months. After that period, if it is not used, it will be assigned to someone else on the waiting list.
Preparing the Documents
After the name gets approved, You need to work on the necessary documents. At Soho, our team will ensure that all the documents are correct and signed by the concerned authorities.
Registering the Company
After proving the documents, our team will send an application to the ACRA for the final registration. The online is entirely online and will be completed in one hour approximately. However, in case of any errors in the documents, the process might get delayed.
After your company is registered with ACRA and has fulfilled all the formalities, you can start your business legally. However, there are a few things that will need your attention afterward;
Opening the Bank Account
After the registration and incorporation process is completed, you will be required to open a separate bank account for the company. Not to worry; Soho is here to help you in this too. We will direct you to make the process easy for you at each step.
Getting the Visa
Getting the visa requirement is only for those foreign individuals who want to settle in Singapore. Again, you can take the help of Soho in this aspect too.
Getting the License
If your business needs a license to work, you need to apply for it. Soho will apply for the license and let you know if there are any complications.
Documents Required for the Registration Process
Following are the documents required to register new company Singapore;
- Approved company name document
- Aim or objective of the company
- The registered address of the owner
- Certificate of incorporation
- Details of the company secretary
- Details of the shareholders
- Details of the directors
- Details of the nominee directors
- National identity card of the owner
Requirements for Singapore Company Registration
For registering a company, you will be required to have some shareholders. The shareholders can vary from 1 to 50. You can also have foreign shareholders.
The paid-up capital of S$1 needs to be there to begin the incorporation. In case your capital exceeds, it is entirely normal. No need to be concerned about it at all.
Your company needs to have at least one local director. However, foreign directors are also allowed.
The company secretary needs to be a citizen of Singapore and should be appointed within 180 days of the incorporation process.
The government also requires a local registered address of the company.
Frequently Asked Questions
What is the cost of registering a business in Singapore?
In Singapore, you can register your company through the Accounting and Corporate Regulatory Authority (ACRA) registrar. The total fee to register your company is divided into two categories:
- Company name reservation fee- S$15
- Company registration fee- S$300
You have to pay this fee to ACRA, a government agency to register new company in Singapore
Does Singapore require the registration of a small business?
You must register your business entity with ACRA if you are currently engaged in any activity with the purpose of generating profit on a continual basis. You can also register your business smoothly without worrying about the necessary paperwork if you were to hire a professional company registration provider.
What are the requirements for incorporating a company in Singapore?
There are six key requirements that you need to fulfil:
- The number of shareholders in the company must be between 1 to 50.
- A minimum share capital of $1 is required to set up a company in Singapore.
- Directors can be both foreigners (Singapore residents) and citizens of Singapore.
- A company secretary must be hired within six months of incorporation.
- A registered address in Singapore is required.
- A company name that is approved by ACRA.
To successfully register new company in Singapore, you must fulfil these requirements.
How long does incorporation take?
It takes as little as one day to complete the applications required to incorporate your business if all your documents are ready and complete. To get the approval quickly, it is best that you provide the necessary details and documents without missing out on anything crucial. In order to make it a smoother process for you and get your approval as soon as possible, you can also look into engaging company incorporation services from the experts. Here at Soho, we ensure that the process of registering your company in Singapore is as smooth as possible.
What are the different types of company structures in Singapore?
There are five types of companies and businesses in Singapore:
- Sole proprietorship
- Limited partnership
- Private limited company
- Limited liability partnership
You may choose the best structure for your business according to your requirements.