Singapore is a popular business hub that offers a number of benefits for entrepreneurs. In order to enjoy all these advantages, it is essential that you register your company in the country. In this article, we will discuss the key steps that you should follow to successfully register your business in Singapore. The process is streamlined and straightforward if you partner with a reputable firm that has experience in the field. In this way, you can rest assured that your registration will be completed in a timely manner.
The first step in company registration Singapore is to decide which type of business structure you want to create. There are several options available, including a private limited company and a limited liability partnership. Each has its own pros and cons, so be sure to weigh your options carefully before making a decision. Once you have selected a business structure, you must register your company with ACRA (Accounting and Corporate Regulatory Authority). ACRA has an online system called BizFile+ that completes the registration process within 1-2 business days. You will need to submit a few documents, such as your company profile, the Memorandum and Articles of Association, and other Know-Your-Client information.
During the company registration process, you will also need to decide on the name of your business and secure a registered address. The name must be unique and not already in use. You must also determine the share capital of your company, which is the amount of money that will be put into the company by its shareholders. The minimum amount of paid-up capital is $1, but it can be increased at any time after company registration. company registration Singapore