Whether you are looking to expand your business into Singapore or start a new venture, it is crucial that you register your business. This will ensure that your company complies with the necessary regulations and also makes it easier for customers to locate your company. However, there are many considerations to keep in mind when registering your business.
In this article, we will outline the top five reasons to register your business in Singapore and some tips on how to go about it. We will also take a look at the different business structures available and which one may be the most suitable for your company.
To register a business in Singapore, you will need to submit the following documents to ACRA:
Business Name Application: This includes your preferred business name and the Singapore Standard Industrial Classification (SSIC) code corresponding to your business activity. ACRA will review your business name application and approve or reject it within 14 business days. If your business name is approved, you will be provided with a certificate of registration and a Business Profile.
Directors & Shareholders: You are allowed to appoint up to 50 shareholders and directors, both resident and non-resident. However, you must have at least 1 director who is a Singaporean citizen or permanent resident and hold at least a valid employment pass. You may also opt to have a company secretary.
VentureHaven is a trusted one-stop solution for businesses that want to expand into Singapore. Their team is dedicated to helping you every step of the way, from business name registration and incorporation to compliance with annual requirements. They have helped many international and local clients with their quick turnaround time and efficient processes. register business Singapore