Incorporating or registering a business in Singapore can be a relatively straightforward process. However, the degree of complexity will largely depend on your company structure and intention.

You will need to make decisions on the following:

1. Company Name

2. Type of Business Activity

3. Appointing Directors, Company Secretary and Other Key Personnel

4. Share Structure

5. Registered Office Address

6. Constitution

7. Financial Year End

For these reasons and more, many companies choose to outsource their company incorporation to a professional services firm like Allied Services.

Incorporating a company in Singapore consists of six key requirements.

1. The business must have between 1 and 50 shareholders. In Singapore, 100% of the company can be owned by foreign shareholders.

2. A share capital minimum of $1 is needed to set up a company in Singapore

3. Company directors must be named. Directors can be both Singapore citizens and foreigners, but at least one must be a Singapore resident.

4. A company secretary must be appointed within six months of the incorporation date.

5. A registered address in Singapore must be provided, and it must be where the company keeps all its statutory documents. This means the address provided during the company registration process cannot be a PO box.

6. A company name that has been pre-approved by Accounting and Corporate Regulatory Authority (“ACRA”) to be given.

At Allied Services, we can help to incorporate a company in Singapore with hours provided that all the necessary documents are in order. Once the necessary incorporation papers are signed, we can proceed to do the filing with the company registrar (ACRA) and get the confirmation almost instantly.

Foreigners can open a company in Singapore almost as easily as a Singapore resident can with minor differences. It is important to note that foreigners must appoint a local Singapore Resident Director and work closely with a registered filing agent to register their company.

Another challenge is in setting it up correctly – especially as a foreigner without any understanding of the tax and legal systems. This is why many foreigners who set up a business in Singapore choose to do so with the help of a professional firm, like Allied Services.

It is not necessary for you to personally visit Singapore to setup a company in Singapore. WE can provide the assistance for the entire company incorporation process via email and couriers in order to get the necessary documents signed. For detailed steps, please click Singapore Company Incorporation

A private limited company is the most popular business entity in Singapore. It has a separate legal status from that of its shareholders. Directors have limited liability for the debts and losses of the company. It usually has the words “Pte Ltd” as part of its name after the company is incorporated.

Once you have provided the proposed name to us, we will process the name search and company name reservation with ACRA, which automatically processes the application and immediately responds with an outcome. For more information about Singapore Company Names Check, please click Guide to Select Your Singapore Company Names

It is quite common for business entities to have similar names. In general, ACRA can approve a name that is similar to an existing one. However, if you wish to reduce the risk of a subsequent name complaint due to similarity to an existing business name, you should check the ACRA guidelines and conduct a name search before proceeding with name reservation. At the same time, note that a mere similarity between the two business names is not sufficient grounds for the ACRA to allow a name complaint application.

ACRA may randomly carry out a due diligence exercise, which may delay the name approval process. In addition, the business activity could be subject to control and regulation by other government authorities. Therefore, it is recommended that you reserve your name early, should you have a deadline date to incorporate your company. Once the name is reserved, the company is guaranteed for incorporation.

If another company or business lodges a valid complaint against your company name within 12 months, the Company Registrar may decide to direct you to change your business name even after the company has been incorporated. You will have 6 weeks to change your business name from the date of receiving a letter from the Company Registrar. Failure to comply with the Registrar’s direction to change business names may have serious consequences. The Registrar may even cancel the registration of the business owner and the business name for non-compliance with the Registrar’s direction. The ACRA’s decision may be appealed by bringing the claim to the Minister of Finance within 30 days after the date of the ACRA’s decision.

Yes. You can submit an appeal for the proposed name by stating a valid reason. It will take approximately 3 working days to process the appeal application. The appeal fee is $15 and this fee is non-refundable if the appeal is rejected.

Yes, you can get the identical name approved if at least:

•         2 years have passed since the date the company was dissolved, following its winding up;
•         6 years have passed since the date when the company was dissolved, following its name being struck off the register;
•         one year has passed after the date of cessation or cancellation of a person’s registration and registration of that business name;
•         2 years have passed after the date of dissolution of a foreign company which has given a notice of dissolution to the Registrar;
•         2 years have passed after the date when a limited liability partnership was dissolved following its winding up;
•         6 years have passed after the date when a limited liability partnership was dissolved following its name being struck off the register;
•         one year has passed after the date of cancellation of a limited partnership registration;
•         one year has passed after the date of dissolution of a limited partnership which has lodged a notice of the dissolution with the Registrar;
•         2 years have passed after the date when a variable capital company was dissolved following its winding up;
•         6 years have passed after the date when a variable capital company was dissolved following its name being struck off the register.

After the name application has been approved, your company name will be reserved for 120 days. If you do not register the business or incorporate the company within these 120 days, the name will no longer be reserved and will be made available to other members of the public.

To lodge a complaint, a complaining party has to prove that your registered company name is any of the following:

•         undesirable;
•         identical to the business name of another company, variable capital company, limited liability partnership, corporation or business;
•         of a kind the Minister of Finance has directed the Registrar not to accept;
•         so nearly resembles the complainant's business name as to be likely to be mistaken;
•         one the use of which has been restrained by an injunction granted under the Trade Marks Act.

It is not necessary to update or inform IRAS separately about the company name change, as IRAS updates its records based on the information filed with ACRA on a weekly basis. However, if you are expecting a tax refund or correspondence from IRAS shortly, your company's name must be updated in IRAS records. In such a case, you should inform IRAS immediately.

Singapore provides a range of options for the closing of business entities and companies, from choosing to strike off or winding up. The option you choose would depend on the state of affairs of the business entity and your business strategy.

In general, you may close a company by the following three options:

• Striking Off a Company
• Winding up a Company or Liquidation of a Business
• Closing the local branch of a foreign company in Singapore