Registering a business in Singapore is considered one of the fastest and most straightforward processes in the world. The rigid implementation of the rules and guidelines is for the benefit of both the government and the businesses to keep the legitimacy of the business industry.
There are a few simple steps in the business registration routine. The first is to get approval for your company name from the Accounting and Corporate Regulatory Authority (ACRA).
Your selected business name will be it if is:
. undesirable
. identical to another existing business name
. or has name or trademark similar to established names
The name can be approved in two to three hours unless it requires further review from external authorities or the ACRA finds any objects to the proposed business name.
After the company name approval, you can now gear up registration materials and register the company in Singapore. Assuming the documents have been submitted and signed by its directors and shareholders, the business can be registered within the same day from ACRA.
You would need a resident director and one shareholder for your business. A resident director is defined as a citizen or permanent resident of Singapore, or one who has an EntrePass, Employment Pass or Dependent Pass. The director and shareholder can be the same person.
A company must appoint a secretary within six months of its incorporation. The secretary must have a principal place of residence in Singapore.
The minimum paid-up capital prerequisite for business registration is only $1. You can open bank accounts within two to three days to one to two weeks after the business registration.
Local residents are strongly advised to use the services of a professional services firm to help you fully grasp the whole routine and rules. However, if you are a foreigner, you are required to use the services of a professional services firm to act on your behalf.
Registering a company in Singapore is usually completed within one to two days, unless there are objections to the suggested business name or if additional information about the directors and shareholders is required.
![[Valid RSS feed]](http://www.look4articles.com/images/icon_Rss.png "XML Feed For RSS"){kind=icon}
Category Rss Feed
Print This Article
Add To Favorites
![[Valid RSS feed]](http://www.look4articles.com/images/rss.jpg "XML Feed For RSS")