Guide to Singapore Company Registration Process
Posted by snfbusinessservice on April 5th, 2020
You can use this guide to gain an understanding of how to starting a business in Singapore, register your company in Singapore and register company in Singapore for foreigner. Just like any modern country, Singapore has a number of requirements for Singapore company registration that you must comply with when you want to start to register of company in Singapore and operate a business here. We urge you to engage snfbusinessservice for company incorporation in Singapore, a top Singapore registration company, to help you through the rather complex company incorporation Singapore process of setting up your Singapore corporation at a reasonable Singapore company registration cost. Register Pte Ltd company in Singapore via Self-registration of a new company is not allowed in Singapore for foreigners.
In Singapore, creating a private limited liability company is the most common way to register a new or relocated business or starting a business in Singapore. A limited company Singapore style is a separate legal entity and it provides shareholders protection from debts beyond the amount of capital they contribute. The rules are set forth in the Singapore Companies Act for how to register a company in Singapore, which allows anyone above age 18 to register a Singapore company. This form of company incorporation Singapore or registering a company in Singapore provides the most efficient tax structure for a Singapore company.
Before You Register Company in Singapore
Keep in mind the following company information you’ll need to provide for registering a business in Singapore or register company in Singapore for foreigner:
Types of Companies in Singapore
The three most common business entities available in Singapore are sole proprietorship, limited liability partnership and private limited company as follow:
Learn more on the types of companies in Singapore to choose the correct business entity on Sole Proprietor vs LLP vs Company in Singapore.
Considerations for Foreigners on How to Register Company in Singapore
If you are foreign and want to company incorporation in Singapore, pay attention to the following related to how to register a company in Singapore:
Required Information and Documents for company incorporation Singapore
The Company Registrar will need the following information and documents:
@ Generally no restrictions except for financial services related or other politically sensitive businesses.
snfbusinessservice will collect the following documents to help you register your company at a reasonable Singapore company registration cost:
We will need officially endorsed translated versions of any important documents that are not in English.
Registration Procedure and Timeline – how to register a business in Singapore
You’ll be relieved to know that the Singapore Registrar of Companies is fully computerized, keeping red tape to a minimum. snfbusinessservice can submit your application in under an hour and the Registrar can normally incorporate your business in the same day. You can reserve your company’s name and register your company at the same time.
Step 1: Reserve Your Company Name
The Singapore Government must approve your company name before you can register it. The Company Registrar will oversee the process. snfbusinessservice will fill out and submit the necessary application forms on your behalf.
The Company Registrar should notify you of her decision instantly. Certain words will slow down the process, including law, media, bank and finance. If you use these words, another Government Authority will intervene, which may delay the process by days or weeks.
To expedite the process, pick a name that:
You can sit on your name for 60 days and sit on it another 60 days by filing an extension.
You can refer to Guide to Select Your Singapore Company Names for more information.
Step 2: Register Company
After the Registrar of Companies approves your company name, they will process your incorporation application and documents within a few hours. snfbusinessservice will make sure all documents are in order and the company directors and shareholders have properly signed all forms.
People from certain countries might find their application delayed. Though rare, it means that the Government Authorities will need to perform additional interrogations. You must pay the Registrar of Companies S0 for her services upfront. This fee is included in the Singapore Company Incorporation Package provided by snfbusinessservice.
Certificate of Incorporation
You’ll receive an email from the Company Registrar after she finishes. The email confirms that you are incorporated and informs you of your Company Registration Number. This is an official certificate of incorporation so don’t lose it. Singapore no longer uses paper certificates, although for a S fee, the Company Registrar will give it to you. The processing time is from 3 to 5 days usually.
Company Business Profile
The Company Registrar will create a company business profile for your Singapore register company after the company registration process is completed. snfbusinessservice will secure this for you. The downloadable PDF file contains key information, including:
Once you have the email notification and business profile, you can proceed with all legal and contractual tasks you need to perform in Singapore. You might need to open a corporate bank account, lease office space or set up your phone and Internet accounts. Ask snfbusinessservice for assistance in all your setup tasks.
We will also help you to get ready for the following necessary items:
Opening a Corporate Bank Account
There are many fine banks in Singapore, including as HSBC, Standard Chartered, Citibank, DBS, OCBC, and UOB. You might be willing to choose a bank that does not require your physical presences — snfbusinessservice can see to the details. Please keep in mind that you’ll have a wider choice of banks if you can make an appearance in Singapore. If you come here, you can tour each bank, evaluate its facilities and see if the people working there meet with your approval.
For further details, refer to Opening a Corporate Bank Account in Singapore.
Applying for Business Licenses for starting a business in Singapore
If you engage in certain businesses in your company corporation, you might need a special license. This applies to companies that perform activities related to:
For more information, refer to: Singapore Business Licenses guide.
Goods and Service Tax (GST) Registration
snfbusinessservice certainly hopes your annual company revenue will exceed S million. If it does, we will help you register for GST, which you might know as value added tax or sales tax. Once you receive your GST registration, you get to charge your customers an additional 7 percent for the goods and services you provide. You cannot keep this money. Rather, you must turn it over to the Singapore Authorities. If your annual revenue is below S million, you don’t have to obtain GST registration. For further details on GST, refer to the Singapore GST Guide.
Annual Filing Requirements
Let snfbusinessservice see to your annual filing requirements and formalities. These are spelled out in the Singapore Companies Act. For more details on this, see Annual Filing Requirements for Singapore Companies.
Annual Income Tax Requirements
Let snfbusinessservice see to your annual income tax filing requirements and formalities. These are spelled out in the Singapore Income Tax Act. For more details on this, see Annual Income Tax Filing Requirements for Singapore Companies.
If you need to find out the Singapore Standard Industrial Classification (SSIC) code corresponding to your business activity, please use our SSIC Search.Also See: Singapore Company, Income Tax, Singapore Companies, Company Registrar, Tax, Snfbusinessservice, Singapore
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