To register company in Singapore is not easy. The process one has to undertake in order to start a company is long and arduous and necessitates compliance with strict procedures and timelines. In fact, a single mistake has the potential to invalidate all your hard work, and require you to start the company registration process from the beginning. At VentureHaven, we offer quick and seamless Singapore company registration services to help our clients start their company for their convenience. However, it is also possible to start a company on your own. The process of starting a company will be described as follows.
Singapore Company Registration Services
As a brief summary, as per s 19 of the Companies Act, the main steps required to register company in Singapore are to submit to the Registrar the constitution of the proposed company, as well as other documents as may be required, provide relevant information to the Registrar, and pay the Registrar the required fee. Next, ideally, a person named in the constitution as director or secretary must declare to the Registrar that he complies to the Companies Act, as well as verified the identities of the key stakeholders in the company. A model constitution can be downloaded from the Attorney-General Chambers’ website, under the Companies (Model Constitutions) Regulations 2015 under the Companies Act. Thereafter, the Registrar will register the company by registering the constitution. At this point, the procedure to start a company is complete.
Along the way, when one has decided to start a company, certain other requirements must be abided by. First, per s 145 of the Companies Act, there must be at least one director of the company. This person must be at least 18 years old. Next, there must be between 1 to 50 shareholders, a role which can also be taken up by the director. Next, per s 171 of the Companies act, all companies must have at least one secretary. This person must principally reside in Singapore, and must be appointed within 6 months of starting the company.
Once one has established that he can meet all these requirements that are necessary for him to start a company, the actual process is relatively simple. To begin the process to start a company, he should use his SingPass or CorpPass ID to login to the BizFile online portal by ACRA (the Accounting and Corporate Regulatory Authority in Singapore). From there, he has to get all key appointment holders in the company to endorse their consent on the same platform. Next, he should pay the Name Approval and Registration Fees that will total to $315. The final step in the process to start a company is to wait between 15 minutes to an hour for the application to be approved. Once done, the process to start a company is complete.
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