If you want to register a company in Singapore, it is important that you know exactly what you are doing before you do so. It can be a daunting process, but if you are on the right track, you can avoid any amateur mistakes and go through it seamlessly. Let this guide walk you through on the key elements required in opening a company and starting a business in the country.
Starting A Business
When starting a business, of course you need to take care of the basics first. You need to choose your location. It is important that you are situated at an area where there is heavy foot traffic especially of your target audience. Also, you need to gather the necessary documents for company registration for it to be legally operating in the country. And lastly, you must set up your corporate bank account. This way, you don’t mix up your transactions with your personal ones.
Registering A Company In Singapore
Once you have the basics in place, you need to start the process of registering your company with the Singapore Company Regulator, ACRA. The Accounting and Corporate Regulatory Authority is the national regulator in the country for business entitles, public accountants, as well as corporate service providers.
- Expected Timeframe. How long it will take to register a new company varies for each business. Some are able to accomplish it in just a couple of hours while others had to go through it for days. That is why many choose to employ a corporate secretary. They are the ones who can determine the timeframe. But of course, this will depend on how soon you will be able to comply with the documentations needed for verification.
- Documents Needed. When registering your company, there are certain documents that you need to comply with for a seamless process. You need to provide your company name, registered business address, capital details, company’s constitution, a description of activities and the SSIC code, shareholders information and KY information, as well as the directors’ information and their KYC information.
Hire A Corporate Secretary In Singapore
Do you need help in your company setup singapore? If yes, then you might want to consider hiring a corporate secretary. They are experts in this field who can help you and your company in every step of the way, from start to finish. So start looking into corporate secretarial services in Singapore for a faster and seamless registration process and set-up of your company.