Guide to Singapore Company Incorporation

Every new business starts with an idea, and a good idea needs a good plan – to make it happen. If you are ready to open your company in Singapore, here is a step-by-step guide to what you need to do to open company in Singapore.

Before Opening A Company In Singapore

Open Company in Singapore

1. Decide your business type

In Singapore, four types of business vehicle are available. A Private Limited Company is the most popular type of business vehicle for most businesses. Most entrepreneur will choose to open company in Singapore.

2. Name your business

No matter what kind of business you are running, deciding a business name for Singapore company formation is an important step in the business planning process. As it is part of your company’s branding, you need to ensure that it is properly registered and approved before Singapore incorporation. In general, new company names are approved or rejected within instantly. An approved name will be reserved for 4 months from the date of application for Singapore company formation.

Company Formation Singapore

Singapore Company Formation

Documents required for Singapore company registration are as follows:

  1. Approved company name
  2. Short description of business activities
  3. Details of shareholders
  4. Details of directors
  5. Registered company address
  6. Company secretary particulars
  7. Constitution

For those who are engaging the professional service firm for company incorporation Singapore, they usually require the copy of your personal identification document in order to prepare the necessary paperwork:

  1. For non-residents: Copy of passport, proof of overseas residential address
  2. For Singapore residents: Copy of Singapore identity card

A copy of officially-endorsed translated document is required for Singapore company formation if the original documents are written in non-English language. Company incorporation Singapore will take only a couple of hours within the filing of the Singapore incorporation request once the company name has been approved and incorporation paperwork has been duly signed.

After Singapore Company Incorporation

Singapore Company Incorporation

1.Email notification from ACRA

You will receive an official email notification from ACRA to confirm the status of incorporation. The email notification with the company registration number is treated as the official certificate of incorporation in Singapore. Though a hard copy of the certification of incorporation is no longer issued by default, you can make an online request to ACRA after Singapore incorporation for S$50 per copy (Hard copy certificates of incorporation can be collected the next day from the ACRA office).

2. Company business profile

The company business profile is usually available for download instantly after the request and contains the following key details:

  • Company name and registration number
  • Previous names for the company, if any
  • Incorporation date
  • Principal activities
  • Paid-up capital
  • Registered office address
  • Shareholders’ details
  • Directors’ details
  • Company secretary details

Both the email notification of incorporation and company business profile in Singapore are sufficient for all legal and contractual purposes, which include the opening of corporate bank accounts, signing of office leases, subscriptions to telephone/internet services, etc.

Although Singapore is one of the smallest countries in the world, its main economic indicators allow it to enter the world’s elite group. Singapore is very well-known in the investment community for its participation in global trade as one of Asia’s largest trading hubs. If you are expanding your business in Southeast Asia, open company in Singapore is always the one country that has a lot to offer.