BUSINESS

It Brings Lengthy to Register a Company in Singapore?

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Company in Singapore
Company in Singapore

Company in Singapore is an accepted entrepot that makes it easy to conduct business for entrepreneurs. There is no need to worry about paperwork or bureaucratic obstacles when creating a Singapore business. But, do entrepreneurs want to be aware of the time frame it takes to register a Singapore business?

SBS Consulting Pte Ltd is a Singapore firm providing services for company incorporation. We will register as a filing agents. If everything goes according to plan, you will require only three days to form the Singapore company. Sometimes, these applications will submit to approval ministries. In this case, it might be necessary to wait for two months or more for approval.

Registering a Company in Singapore

ACRA, the Company Registrar of Singapore, oversees setting up a company. Singaporeans can visit the Biz File+ e-portal and register the company. However, foreigners cannot self-register their business, and instead, they require an agent for failing to complete the job.

SBS Consulting assists you in compliance with laws and regulations in your area that govern how you register your business. We handle the bulk of the work for you, and we’ll guide you through every step of the procedure and assist you with opening a company bank account. We provide a low-cost promotional package to incorporate a company for our customers.

To complete the incorporation procedure quickly, make sure you meet the pre-incorporation prerequisites. Prepare yourself with this information:

  • At the very least, one shareholder
  • Capitalization for the initial payment of $1
  • At the very least, at least one corporate secretary
  • At a minimum, one resident or local director
  • Local address registered in the Office

Singapore Company Incorporation Documents

It will also recommend that you are in a position to provide the following documents to speed up the registration process of your new Singapore business.

  • Name of the company authorized by ACRA
  • Description of the business activities
  • Local office address for registered Office
  • Information about shareholders
  • Director’s specifics
  • Information about the company secretary
  • foreign entrepreneurs: Copy of the passport and proof of residence address
  • Foreign Companies: Certificate of Incorporation, M&AA
  • Singapore Citizens A replica of the Singapore ID card
  • A signed consent form does require from each director
  • Affirmation signed by each secretary in your company

Be sure that all of those documents have been written in English. If not, do their translations.

Singapore is well-known for its entrepreneurial spirit and a favourable business environment for start-ups.

  • Anyone who is over the age of 18 can create for a Singapore company
  • It is possible to choose one of your Singapore residents to serve as the local director
  • You can own 100% of the equity in your business
  • Foreigners require work visas or permits to move to and work in Singapore

Initiating Company Incorporation Process

Create Your Company’s Name using ACRA

After you’ve appointed our agency as the agent, you can begin the process of registration of your company’s name with ACRA. You must provide the following 3-5 characters for the company you want to register.

Choose Your Company Name Carefully

  • It is not able to violate any trademarks
  • This is not offensive, vulgar, or black-listed.
  • It has to be distinctive

We will check the names available and create a new name under your name. After that, you’ll have 60 days to incorporate your business. If you fail to meet the deadline, we will petition ACRA on behalf of you to extend the timeframe by 60 days.

Company Registration With ACRA

We’ll require a business name that ACRA approves to submit your request to register your business. We’ll also need the documents to incorporate your company to send to ACRA. This agency operates swiftly and typically, and it allows our clients to incorporate their new business in Singapore.

It is possible to benefit from a carefully planned procedure to register a business within Singapore in a matter of 1-3 days.

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