Are you in need of company registration services? Perhaps you are an aspiring businessman seeking to start his first business. Perhaps you are merely someone who thinks he has a potential idea that may develop into a thriving business one day. Or perhaps you already own a company or multiple companies, and are looking towards registering more, for example register company in Singapore. In that case, should you not wish to go through the arduous process of to register new company on your own, the company registration services we offer may be the answer to your needs.
Register New Company
To register new company, especially to a newcomer to the process, is no easy task. Company registration requires compliance to a mind-boggling array of rules, regulations as well as administrative procedures and processes. These procedures are governed by the Accounting and Corporate Regulatory Authority of Singapore (ACRA). To perform company registration manually, one has to utilise the BizFile online electronic filing and information retrieval system offered by ACRA. To access the BizFile online portal, one requires a SingPass or a CorpPass account. Upon logging in to the BizFile portal, the next step in the company registration process involves filing an online application for the company name. Thereafter, all key stakeholders in the proposed company, such as the proposed Directors, Shareholders and Secretaries must go through a similar process to endorse their consent through the BizFile online portal. Next, the original applicant has to pay the Name Approval Fee of $15 and the Registration Fee of $300.
Register Company in Singapore
The application will then be processed for up to 15 minutes, with longer delays in exceptional circumstances – such as if the company registration involves an area of business that is heavily regulated, requiring the consent of various other governmental entities before the application may be approved. This may range from authorities such as the Board of Architects Singapore, regulating the use of the word “architect” in a company’s business designation; the Council for Estate Agencies, for entities involving “Real Estate Agent” or “Real Estate Agency”; or the International Enterprise Singapore, regulating companies with names and activities involving “Physical Rubber” or ”Commodity futures”. Should the company registration process involve these regulated terms, the application time involved will range from anywhere between two weeks to two months. Should ACRA declare its approval, the company registration process is then complete. The company may then begin operation, unless it requires further licensing from any of the above governmental or regulatory entities in the stated specialised fields.
However, even then, the process is not fully complete. As per various pieces of legislation within the Companies Act, a proposed company must produce a Constitution, which must then be submitted to the Registrar. Apart from a few remaining loose ends that need to be tied up, such is the general process of how to register a company in Singapore.