In this article, we will walk you through the process of how to incorporate your company in Singapore. It includes step-by-step guides on what you will need, how much you need, and other important information on how to incorporate your new business here in Singapore.
How Long It Takes To Register A Company In Singapore?
It can take a few hours to several days to register a company in Singapore. Once the name application fees have been paid, the application process typically takes no longer than 15 minutes. However, it can also take between 14 days and two months if it needs to be forwarded to other statutory or government authorities for permission or evaluation.
Requirements For Incorporating A Company In Singapore
The requirements for incorporating a company in Singapore need to be filed with the Accounting and Corporate Regulatory Authority (ACRA). The business owner must first ensure that these requirements are met prior to the incorporation:
Company name
Company activities
Registered office address
Directors
Shareholders
Company secretary
Constitution
Share capital
Singpass
You will also need to prepare for the following minimum requirements for incorporation.
At least one shareholder
At least one local director
At least one local company secretary
Minimum initial capital of S$1
Local Office address
How To Incorporate A Company In Singapore In Two Steps
There are two main steps in registering a Singapore company: company name reservation and company registration.
1. Company Name Reservation
In most cases, new company names are granted or referred within an hour. However, if the requested name contains specific words that would need the assessment and permission of a corresponding external government entity, it might take several days or weeks longer. These words include bank, finance, law, media, and the like. A name that has been granted will be held for 120 days following the application date.
2. Company Registration
After the incorporation request is filed, company registration can be finalized in a few hours. Authorities may, in very rare circumstances, ask shareholders or directors of particular nationalities for additional information.
Why Is Incorporating a Business in Singapore the Smart Choice?
Singapore has consistently been the place of choice for entrepreneurs starting their businesses. In Singapore, incorporating a business is simple, fast, and bureaucracy-free. The corporate tax rates are likewise notably low, with relatively low tax rates as a result of the tax exemption programs.
How Much It Costs To Register A Company In Singapore?
The overall expense of registering a company in Singapore could go into the thousands of dollars annually. Along with the costs of registering a business name and forming a company, you need money allocated for any necessary business permits, company stamps, corporate bank accounts, office space, and compliance filing.
Fortunately, you can also go with the wise choice of working with a professional company incorporation provider like SJH Advisory to save yourself the hassle and all the extra costs. Here are SJH’s prices for company incorporation in Singapore.
Types of services | Price |
Local Incorporation + Company Secretary | S$600.00 |
ALL in Incorporation + Company Secretary + Accounting Lite | From S$998.00 |
All in Incorporation + Company Secretary + Accounting Plus | From S$1,598.00 |
Need help on How To Incorporate A Company In Singapore or registering a company in Singapore?
Looking to incorporate a company in Singapore, but too busy to sort through all the legalese? SJH Advisory can help. In SJH, we offer easy, competitively priced, and reliable company formation services in Singapore. Save time and money fussing around with paperwork. Turn to a company that knows how to save you time and money with our range of company formation packages.
Besides incorporating your new business in Singapore, it is also essential to register a Uen Number In Singapore.
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