How to Register a Business in Singapore

Whether you are setting up an online business or an actual brick and mortar company, the first step to start a business is registering it. This is done by submitting an application with ACRA’s BizFile+ and paying the required fees. Once it’s approved, the next steps are opening a corporate bank account and applying for business licences (if necessary).

There are 4 different types of business structures that you can choose from when registering a company in Singapore. The most popular type is the private limited company as it provides a legal separation between the owners and the business entity. This means that you and other shareholders will be protected from debts beyond your initial investment.

In addition to deciding the company structure, it is also essential to check if the chosen name has already been used by another enterprise in Singapore. This can be done by checking with ACRA’s name search feature online.

It is also mandatory to appoint at least 1 director in your company who is a citizen of Singapore, permanent resident or Entrepass holder. Moreover, all companies must have a local address in Singapore, and this cannot be a PO box number.

Assuming that you’ve checked all the boxes, and have settled on a business name, the process of registering your company in Singapore is relatively straightforward. Timcole can help you with the incorporation formalities and obtain all work permits for you to ensure that the entire process is a hassle-free one. how to register a business in Singapore

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