Company is a business entity registered under the Companies Act, Chapter 50. A company is a corporate body and has its own legal personality which is distinct from its members. It can sue and be sued, own property, enter into contracts and be a shareholder of another company or partner in a partnership. It cannot, however, act as auditor, liquidator, secretary or director. It usually has the words 'Pte Ltd' or 'Ltd' as part of its name.
Incorporating your business is a method for creating a legal wall between your personal assets and business. Any judgment against your business will not impact your personal assets.
PROCEDURE FOR INCORPORATION
To incorporate a company, any person may engage a professional Firm or service bureau to assist him in the filling of the application for incorporation viz Bizfile. A company can also be incorporated by the directors themselves. (For convenience, we call this process "self-incorporation".) For self-incorporation cases, the proposed directors, secretary and subscribers must all be Singapore NRIC holders.
The Companies Act requires that a company name must be approved before the company can be registered. A proposed company name will not be approved if it is identical to the name of another local company, branch of a foreign company or business firm. Undesirable names, including offensive or vulgar names will also not be approved.
Application for approval of a company name can be submitted online via Bizfile by a professional firm or service bureau. It can also be submitted by a proposed director of a new company. S$15 is payable for each approved company name. An approved name will be reserved for 60 days from the date of application.
After a company name has been approved, the company can be incorporated online. A registration fee of S$300 is payable for a company limited by shares regardless of the amount of its authorised share capital. For a public company limited by guarantee, the registration fee is S$600. The whole incorporation procedure of a company generally takes three to seven workings day to complete. The incorporation procedures may only take one day to complete if the approve name is immediate approval and all the documents signed within a day, the company can be immediate registered
Companies and Business Registration
We can assist the individual / overseas investors who wish to starts its operation in Singapore to incorporate the Company locally. We are able to provide comprehensive incorporation and business registration services that will be tailored to meet your needs. Our overseas associates are also able to assist our clients to incorporate companies in Malaysia.
We are able to register various type of set-up as follow and our qualified professionals will be able to give professional advice on the appropriate corporate or business structure that is suitable for your needs:-
- Pte Ltd or Ltd Company.
- Sole-properietor or partnership business
- Branch of foreign company.
- Representative office.
Note: Paid up capital is minimum S$1
How to Register
We can guide you through the process of forming a Singapore corporation.
Click here to contact us today! Or, click here to register online.