Steps Involved with Company Registration in Singapore
It is noticeable that many firms and people wish to open their own business in Singapore. There is a constant demand for professional services concerning business registration in Singapore. It is because individuals and business owners find it extremely to have the process of registration completed by themselves. Competitive and professional service providers of registration are better equipped to complete the process without much fuss.
This is due to their fundamental knowledge and expertise in the domain. Without these things, it may get difficult to have the process of registering a business in Singapore is much more difficult than you might think. So, involving the services of these professionals is always considered a better and wiser choice for many who want to have their business established in Singapore.
You can find out the entire process which is involved with establishing a successful business in Singapore. The steps that these professionals follow are listed out for better understanding with the people who want to start a business in Singapore.
Advantages of using the services of company registration companies
Compliance is something that these professional services offer following the statues and the Singaporean laws. Delivering results in terms of company registration in Singapore is what these organizations specialize in. Once this is taken care of it would be easier for you to plan your marketing, planning, financing, and operations.
Whenever you choose these services you would be able to sit back and just take care of the steps you need to take with running your business in Singapore. The guarantee that they give you would be to effectively bring your company into existence after you can provide them with all the required documents.
They can make the process simpler by providing you with inputs on what the required documents are to successfully incorporate your company. You would also be provided with packages from which you can choose depending on the required services from these professional services.
Packages offered with company registration in Singapore
A standard package offered for company registration in Singapore would provide you with the following services for your business. The below-mentioned fees are inclusive along with what you pay to these organizations.
An accountant who is qualified to be the nominee company secretary would be provided along with Singapore corporate access (CorpPass)
Reservation of company name along with a name check depending on the chosen name(s)
Incorporation fees for the ACRA (Accounting and Corporate Regulatory Authority)
Advisory provided on requirements to deal with compliance
GST advise and tax planning with a certified tax and GST agent
Annual return submission with ACRA
Business profile and an electronic notice of incorporation
The first resolutions of the board
Registration of website with a .com for the first year
Professional fees for incorporation of the company
Annual general meeting (AGM) preparation following ACRA regulations
Issuance of share certificates
Services of consultation with the incorporation
One round of self-inking company name stamp
Resolution for company bank account opening accredited Singaporean bank
Secretary services for corporate for the 1st year
Professional fees paid for company incorporation
G suite email setup for 2 company users (this excludes the subscription charges for Google G Suite)
Apart from providing these Singapore company registration services for a year, they may also allow you to extend it for another year for nominal charges. You can get clarifications on the GST charges which may apply towards your extension which would be nominal. Common seal add-on can be done with company resolution at a specific price if necessary.
Information required from you to register business Singapore
You would have to provide the below details to register business Singapore with these professional organizations. This would allow them to put your registration process on the fast track and get it done as early as it is permissible.
Company name with 2-3 alternative names if the primary name is already in use
A description of the principal activity or activities (2 activities permissible)
Director’s NRIC (National Registration Identity Card) copy in Singapore along with the ones of beneficial owners and shareholders.
Local physical office address proof in Singapore (The company managing your registration would be able to provide you with one)
In the case the number of shareholder is above one, the percentages involved for each shareholder.
Relevant information for the contact of directors, beneficial owners, and shareholders.
The address which belongs to the business’s main place (this should be the address where you are likely to start your business)
Information about the potential customers and suppliers for the business
Source of working capital that is about to be used or is already being used
Paid-up capital amount (advice on this can be provided by the firm organizing the registration of your business)
If all the mentioned documents are in place the process of register business Singapore can start to progress immediately. Any essential advice and inputs that you may want in relevance to providing these documents would be provided by the company that you hire for registering your business in Singapore.
Steps to be taken towards business registration Singapore
There are essentially two methods by which you can start to do the business registration Singapore rolling for your firm in Singapore. The two steps are mentioned below and differ slightly from one another.
You should visit the office of the company registration service provider with all the necessary documents mentioned. Payment of fees to the standard plan should be made essentially in cash but other payment options may also be available with these companies. Your company setup can be completed in about 2-3 hours with a professional and experienced organization. However, this can only be made seamless with reputed company registration in Singapore services.
The second option can be a little complex compared to the first one which is starting the process of registration through email
You would be required to first complete the filling of the online registration form. These forms can either be downloaded and filled or filled up through an online web form depending on the company you choose
Attaching all relevant documents along with the email that you send to the company you choose to hire
Company’s availability is checked and once it is available the firm would revert to you in 24 hours
Once the name confirmation process is completed along with the payment the reservation of the company name would take place
Documents would be emailed to you for relevant signatures
Identity verification is carried out which typically would take 24 hours from the time the signed and scanned documents are received
After the verification process is completed it would take 2-3 hours for your company to be incorporated
All the documents that are completed are emailed to you once the company is setup
The company stamps can either be couriered to your physical address or you can choose to drop into the offices of the registering firm to collect the same
Although there are two potential ways to have things going people choose to visit the offices of the company that they hire for the business registration process. This is due to the ease at which things are done and avoid any potential delay.
However, the second option is chosen by people who potentially cannot visit Singapore or when they do not reside in Singapore.
Why choose a professional business registration firm?
Most professional company registration in Singapore firms do not take over 3-5 business days for the entire process to be completed. You would be better suited to expect the entire process to be completed within 7 business days in case of unforeseen delays.
Using the best company registration in Singapore services
To be able to get the best services you can always find and choose to use the best business registration companies which are in Singapore for these services. The best companies can be found by simply looking up for the top firms which offer these registration services. With the list of top firms, you can choose to look at their track record, reputation and the kind of reviews they have from businesses they have provided services to.
This can essentially help you to zero in on the best provider of services when it comes to Singaporean company registration. Unnecessary delays in registration and incorporation can be avoided when you choose to go with the best service provider in Singapore.