Incorporating a company in Singapore is a straightforward process, but it requires careful attention to detail. A Singapore Corporate Service Provider (CSP) can be invaluable in guiding you through each step. In this comprehensive guide, we’ll walk you through the key steps involved in company incorporation in Singapore and explain how a CSP can help you at every stage.
The first step in incorporating a company in Singapore is to choose a unique name for your business. Your company name must not be identical or too similar to any existing business names registered with the Accounting and Corporate Regulatory Authority (ACRA).
A Singapore Corporate Service Provider (CSP) can help you check the availability of your desired name and reserve it with ACRA. This ensures that your chosen name complies with local naming conventions and regulations.
Once you’ve chosen a company name, the next step is to prepare the necessary documents for company incorporation in Singapore. These documents include:
Your CSP will assist in preparing these documents and ensuring they meet ACRA’s requirements.
With all the necessary documents in order, your CSP will submit the incorporation application to ACRA. The application can be submitted online through the BizFile+ portal. If everything is in order, your company can be incorporated within a few hours.
After your company is incorporated, the next step is to open a corporate bank account. Your CSP can recommend suitable banks and assist with the application process. You’ll need to provide the bank with your company’s incorporation documents, identification documents of the directors, and proof of your company’s registered address.
Once your company is incorporated, there are ongoing compliance requirements that you’ll need to meet. These include:
Maintaining Statutory Records: Your company is required to maintain statutory records, including registers of directors, shareholders, and secretaries. Your CSP can help you keep these records up to date.
A Singapore Corporate Service Provider (CSP) can streamline the company incorporation process and ensure that all legal formalities are met. Here are some ways a CSP can assist:
Company formation in Singapore is a straightforward process, but it requires careful attention to detail. By partnering with a Singapore Corporate Service Provider (CSP) , you can streamline the incorporation process and ensure that all legal formalities are met.
Many CSPs also offer related support such as immigration services Singapore-based companies or foreign entrepreneurs may require.
For those setting up a Singapore family office, this support is essential in navigating regulatory requirements. Once your company is up and running, you’ll need to focus on maintaining compliance, which brings us to the importance of corporate secretarial services.
Incorporating a company in Singapore is simple when you have the right experts
2 January, 2025
2 January, 2025How do I choose a company name in Singapore?
Your company name must be unique and not identical or too similar to any existing business names registered with ACRA. A Singapore Corporate Service Provider (CSP) can assist in checking name availability and reserving it for you.
What documents do Singapore company registration services typically require?
Singapore incorporation services generally require a passport, recent proof of address, and basic KYC details for all directors and shareholders. At Vivos, we also collect your business activity description, UBO (Ultimate Beneficial Owner) information, and a Singapore registered address to meet ACRA and AML requirements. If a corporate shareholder is involved, additional documents such as the Certificate of Incorporation and a board resolution are needed. Vivos reviews and prepares all required documents to ensure a smooth and compliant incorporation process.
How do I submit a company incorporation application?
The application must be submitted through the BizFile+ portal, managed by ACRA. If all documents are in order, incorporation can be completed within a few hours. A CSP can handle the entire submission process for you.
How long does it take to incorporate a Singapore company?
With all documents ready, incorporation typically takes 1-3 business days. The name approval is usually instant (within hours), and once approved, it’s reserved for 60 days. However, the overall process including document collection and KYC verification may take 1-2 weeks for foreign applicants.
How long does it take for Singapore company registration services to complete the process?
Singapore company registration is generally very quick. Once all documents are submitted, ACRA usually processes and approves the application within 1–3 days, and the online filing itself can take just a few minutes. Some cases are completed in as fast as one day. However, if the application needs to be reviewed by another government agency, the timeline may extend and can take up to 60 days in rare situations. At Vivos, most of our clients receive their company approval within the standard 1–3 day timeframe, provided all documents are verified and complete.
Is a corporate bank account required after incorporation?
Yes, every company must open a corporate bank account to handle business transactions. A CSP can recommend suitable banks and assist with the application process, ensuring you have all the required documents.
Can foreigners incorporate a company in Singapore?
Yes, foreigners can incorporate a company in Singapore but need to appoint a local resident director. A CSP can provide nominee director services if required.
What happens if my company fails to meet compliance requirements?
Non-compliance can lead to penalties, fines, or even company strike-off by ACRA. A CSP can ensure you meet all statutory obligations to avoid these risks.
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