Here in Singapore, it is compulsory for all types of businesses to enlist themselves with the Accounting and Corporate Regulatory Authority (ACRA). Hence it is important to be familiar with the information and procedure when you proceed to register a new company in Singapore.
Below are a few points to take into consideration:
1. Registration criteria
To setup a company with ACRA, take note that the minimum age is 18 years old. All applications are to be submitted online to BizFile+. You will need your IC number and SingPass to log into BizFile+.
2. Which business structure are you choosing?
In Singapore, there are five types of business structures, or legal entities:
Note that if you wish to change your existing business structure, you would have to de-register and then submit again with ACRA.
3. Your company name
When you are choosing your company’s name, (you can check via BizFile+ to see if another has already used it), you should also take note of the following:
4. Your company address
Companies applying with a P.O. address will not be accepted. If you are going to use a home address, you need to get approval from the respective authority. For companies in office buildings, the location needs to be easy for people to access.