As the world’s most enterprise-friendly business environment, Singapore is a prime location for businesses seeking to expand and operate in Asia. The city-state boasts an exemplary corporate tax framework, strong trademark IP protection and enforcement, superb connectivity, a robust financial system and a strategic geographical position. To ensure companies comply with statutory regulations, Singapore’s authorities enforce the country’s corporate laws stringently. Incorporating a company in Singapore involves a number of processes and procedures, from identifying the most suitable business structure to obtaining permits and licences.
A key step in the process is registering a business name with the Singapore Registry of Companies (ACRA). The company’s proposed name must be distinct and distinguishable from existing companies and cannot contain any offensive or deceptive words or abbreviations. Upon approval, ACRA will send the applicant a Certificate of Incorporation, which confirms the company’s registration with ACRA and provides the business registration number.
After the company is registered, it is necessary to obtain all relevant business licenses and permits before starting operations. These are individual requirements from independent government agencies, and the list will vary by industry. Restaurants, private schools, video companies, travel agencies and export/import firms, for example, will require one or more licenses and permits before commencing operations.
Foreigners can register a company in Singapore, as long as they have work visas and an approved sponsor. However, they must appoint a Local Filing Agent RFA to submit the required documents on their behalf. how to register a company in Singapore