The Process of Singapore New Company Incorporation Made Easier

The Process of Singapore New Company Incorporation Made Easier

Singapore is one of the best locations to make business investments. It is a friendly business market for foreign investment. Incorporating your business is not an easy task and most businesses cannot make it happen on their own. Instead, they need to seek help from the corporate service providers that can help you with singapore new company incorporation within time smoothly.

Requirements for company incorporation

As Singapore is friendly to international business, setting up a company there is not an arduous process. But, it depends on having the right support and being highly organized in the country. The initial requirements for incorporation include:

  • Get company name approved

Before registering a business, you will need to get your company name approved formally. There are some restrictions and requirements set by the Singapore Accounting and Corporate Regulatory Authority (ACRA) that apply when naming a business. According to these, the name shouldn’t be – undesirable (offensive and obscene), the same as a registered or reserved business name, prohibited by the Finance Ministry.

singapore new company incorporation

  • Providing necessary documents

To incorporate your company in Singapore, you will be required to provide the necessary documents. The information required is – the company name registered with ACRA, registered office address, type of the company, primary or secondary activity, minimum $1 paid-up capital, and the particulars of the directors, shareholders, and company secretary. It becomes even more vital to prevent delays in compliance approval.

  • Incorporate the company into ACRA online

Once you have all the necessary documents, the process can be carried out smoothly. In many cases, you might be able to open a business-purpose bank account within a day. After that, the business can proceed as usual.

Getting help with company incorporation

If you fail to complete the process of company incorporation within 120 days, the approved company name doesn’t remain reserved for you. You must keep this thing in mind.

Chatsworth makes company incorporation seem like a smooth ride without any hassle. There are many reasons to choose Chatsworth for this purpose, including:

  • The company is a one-stop destination for everything – ranging from accounting and tax to corporate secretary matters. You can ensure your business dealings effectively with the company’s help.
  • Traditional accounting software and paperwork have become old news now. Chatsworth uses the latest technology for greater scalability and flexibility.
  • Monthly financials can be a huge task to worry about, but not with Chatsworth. The company takes care of everything money-related, so you can focus on growing the company.

If you have been thinking of incorporating a company in Singapore, Chatsworth can help you with that even after you have completed the incorporation.