Singapore’s reputation as a thriving business hub has made it a sought-after destination for entrepreneurs and companies looking to establish a presence in Asia. Registering a business in Singapore is efficient and streamlined, but it’s important to understand the necessary steps and compliance obligations.

This blog will help you navigate Singapore’s company registration process successfully. From essential documents to company registration services and compliance obligations, this guide will equip you with the knowledge you need to establish your business in Singapore.

Step 1: Determine Business Structure and Name

The first step is to decide on the business structure. Common options include a private limited company, sole proprietorship, or partnership. Next, choose a unique name for your company, ensuring it complies with Singapore’s naming guidelines and is available for registration.

Step 2: Appoint a Resident Director

Every Singapore company must have at least one resident director. The director should be a Singapore citizen, permanent resident, or an Employment Pass holder. If you do not have a local director, you can engage the services of a professional firm to fulfill this requirement.

Step 3: Prepare Required Documents

Gather the necessary documents to set up a business in Singapore, which typically include the following:

• A completed application form for company registration.
• A copy of the proposed company name.
• Identification documents of directors, shareholders, and company secretary (if applicable).
• The registered address of the company.
• Memorandum and Articles of Association (MAA).
• Shareholders’ agreement (if applicable).

Step 4: Engage a Professional Firm or Register on Your Own

You have two options for company registration: engage a professional firm or register independently. Hiring a professional firm, such as Provisor Corporate Services, can streamline the process and ensure compliance with all legal requirements.

Step 5: Submit the Registration Application

If registering a business in Singapore independently, submit the completed application and required documents to ACRA via the BizFile+ portal. If using a professional firm, they will handle the submission on your behalf. Pay the registration fee and wait for ACRA’s approval.

Step 6: Post-Registration Obligations

After successful registration, you need to fulfill certain post-registration obligations:

• Obtain necessary business licenses and permits, if applicable.
• Set up a corporate bank account.
• Register for Goods and Services Tax (GST) if your annual turnover exceeds a certain threshold.
• Ensure compliance with statutory requirements, such as filing annual returns and maintaining proper accounting records.

Step 7: Ongoing Compliance

Comply with ongoing obligations, such as annual general meetings, filing annual returns, and updating any changes to company details promptly. Engaging a professional corporate services provider can help you stay compliant and handle these obligations efficiently.

To set up business Singapore, navigating the process of registering a business in Singapore can be manageable with our help. A professional firm like Provisor Corporate Services offers company registration services in Singapore that will help you adhere to Singapore’s legal requirements, which is crucial for a strong foundation and the future growth of your business. For more details, contact us.