Pre incorporation Check List Guide
Dawn Lee
Planning to incorporate your business in Singapore? Planning to incorporate your business in Singapore? Download The Free Download The Free Pre-Incorporation Checklist Guide Who…
The Step-by-Step Guide to Company Incorporation in Singapore 2025
Incorporating a company in Singapore is a straightforward process, but it requires careful attention to detail. A Singapore Corporate Service Provider (CSP) can be invaluable in guiding you through each step. In this comprehensive guide, we’ll walk you through the key steps involved in company incorporation in Singapore and explain how a CSP can help you at every stage.
Table Of Content
- 5 Steps to Start your Company in Singapore
- - Step 1: Choose a Company Name
- - Step 2: Prepare the Necessary Documents
- - Step 3: Submit the Incorporation Application
- - Step 4: Open a Corporate Bank Account
- - Step 5: Comply with Ongoing Requirements
- How a CSP Can Help with Company Incorporation?
- Conclusion
5 Steps to Start your Company in Singapore:
Step 1: Choose a Company Name
The first step in incorporating a company in Singapore is to choose a unique name for your business. Your company name must not be identical or too similar to any existing business names registered with the Accounting and Corporate Regulatory Authority (ACRA).
A Singapore Corporate Service Provider (CSP) can help you check the availability of your desired name and reserve it with ACRA. This ensures that your chosen name complies with local naming conventions and regulations.
Step 2: Prepare the Necessary Documents
Once you’ve chosen a company name, the next step is to prepare the necessary documents for company incorporation in Singapore. These documents include:
- Identification Documents: Copies of the passports or NRICs of all directors and shareholders.
- Registered Address: Proof of your company’s registered address in Singapore.
- Company Constitution: A document that outlines the rules and regulations governing your company.
Your CSP will assist in preparing these documents and ensuring they meet ACRA’s requirements.
Step 3: Submit the Incorporation Application
With all the necessary documents in order, your CSP will submit the incorporation application to ACRA. The application can be submitted online through the BizFile+ portal. If everything is in order, your company can be incorporated within a few hours.
Step 4: Open a Corporate Bank Account
After your company is incorporated, the next step is to open a corporate bank account. Your CSP can recommend suitable banks and assist with the application process. You’ll need to provide the bank with your company’s incorporation documents, identification documents of the directors, and proof of your company’s registered address.
Step 5: Comply with Ongoing Requirements
Once your company is incorporated, there are ongoing compliance requirements that you’ll need to meet. These include:
- Filing Annual Returns: Every Singapore-registered company is required to file annual returns with ACRA. Your CSP can handle this task on your behalf.
- Holding Annual General Meetings (AGMs): Companies are required to hold AGMs to present financial statements to shareholders. Your CSP can assist with organizing these meetings.
Maintaining Statutory Records: Your company is required to maintain statutory records, including registers of directors, shareholders, and secretaries. Your CSP can help you keep these records up to date.
How a CSP Can Help with Company Incorporation?
A Singapore Corporate Service Provider (CSP) can streamline the company incorporation process and ensure that all legal formalities are met. Here are some ways a CSP can assist:
- Expert Guidance: A CSP has in-depth knowledge of Singapore’s regulatory requirements and can guide you through the entire incorporation process.
- Document Preparation: A CSP can assist with preparing and submitting all necessary documents, ensuring that they meet ACRA’s requirements.
- Compliance Assurance: A CSP can help you meet ongoing compliance requirements, reducing the risk of penalties and ensuring that your company remains in good standing.
Conclusion
Company formation in Singapore is a straightforward process, but it requires careful attention to detail. By partnering with a Singapore Corporate Service Provider (CSP) , you can streamline the incorporation process and ensure that all legal formalities are met. For those setting up a Singapore family office, this support is essential in navigating regulatory requirements. Once your company is up and running, you’ll need to focus on maintaining compliance, which brings us to the importance of corporate secretarial services.
Start Your Business in Singapore with Ease
Incorporating a company in Singapore is simple when you have the right experts
Most Popular
Frequently
Asked Questions
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How do I choose a company name in Singapore?
Your company name must be unique and not identical or too similar to any existing business names registered with ACRA. A Singapore Corporate Service Provider (CSP) can assist in checking name availability and reserving it for you.
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How do I submit a company incorporation application?
The application must be submitted through the BizFile+ portal, managed by ACRA. If all documents are in order, incorporation can be completed within a few hours. A CSP can handle the entire submission process for you.
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Is a corporate bank account required after incorporation?
Yes, every company must open a corporate bank account to handle business transactions. A CSP can recommend suitable banks and assist with the application process, ensuring you have all the required documents.
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Can foreigners incorporate a company in Singapore?
Yes, foreigners can incorporate a company in Singapore but need to appoint a local resident director. A CSP can provide nominee director services if required.
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What happens if my company fails to meet compliance requirements?
Non-compliance can lead to penalties, fines, or even company strike-off by ACRA. A CSP can ensure you meet all statutory obligations to avoid these risks.
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