Business Registration
Ongoing Compliance Support
Launch in the Singapore with Business World
Set up your business in Singapore with Business Worlds. Our complete services cover every aspect, from incorporation to ongoing support, guaranteeing your success in the thriving Singaporean market.
What Is a Business License in Singapore? Why Register Your Company in Singapore?
Singapore is one of the world's most business-friendly countries, known for its strategic location, robust economy and ease of doing business. With its pro-business policies, excellent infrastructure and access to global markets, Singapore offers a conducive environment for businesses to thrive. Here are some key reasons to consider registering your business in Singapore.
Strategic Location and Global Connectivity
Singapore is a global hub for trade and commerce, offering easy access to major markets in Asia and beyond. Its world-class infrastructure and connectivity make it an ideal location for businesses looking to expand internationally.
- Step 1: Choose a Business Structure
- Step 2: Choose a Business Name
- Step 3: Register an Address
- Step 4: Register with ACRA
- Step 5: Obtain Licenses and Permits
- Step 6: Open a Corporate Bank Account
- Step 7: Register for Taxes
- Types of Business Entities
Choose a Business Structure
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The first step in registering a company in Singapore is to decide on the type of business structure you want to establish. Common structures include Private Limited Company (Pte Ltd), Sole Proprietorship and Limited Liability Partnership (LLP). Each structure has its own legal and tax implications. Business World will help you determine the best structure for your business based on your needs and goals.
Choose a Business Name and Register It
Next, you need to choose a unique and appropriate name for your business. The name must not be similar to any existing company names and must comply with the naming guidelines set by the Accounting and Corporate Regulatory Authority (ACRA). Business World can assist you in choosing and registering a suitable name for your business.
Register an Address
You will need a registered office address in Singapore to register your business. This address will be used for official correspondence and must be a physical location (not a P.O. Box). Business World will help you find and register a suitable business address that meets Singapore's requirements.
Register with ACRA
You will need to register your business with the Accounting and Corporate Regulatory Authority (ACRA), the official registrar of companies in Singapore. This typically involves submitting incorporation documents such as the company constitution and details of directors and shareholders. Business World will handle the submission of your registration documents and ensure compliance with Singapore's regulations.
Obtain Necessary Licenses and Permits
Depending on your industry, you may need to obtain various licenses and permits to legally operate your business in Singapore. For example, food businesses require a license from the Singapore Food Agency (SFA), while financial services require approval from the Monetary Authority of Singapore (MAS). Business World will help you identify and apply for the necessary licenses and permits.
Open a Corporate Bank Account
Opening a corporate bank account is essential for managing your company's finances. Singapore offers a variety of banking options with features such as online banking, international money transfers and business loans. Business World will assist you in selecting the best bank for your business needs and help you open your account efficiently.
Register for Taxes
After registering your business, you must register for taxes with the Inland Revenue Authority of Singapore (IRAS). This includes Goods and Services Tax (GST) if your annual turnover exceeds SGD 1 million. Business World will guide you through the tax registration process to ensure compliance with all tax obligations.
Types of Business Entities for Company Registration in Singapore
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When registering a business in Singapore, it is essential to choose the right business entity, as each type has distinct legal and tax implications. The most common business structures include:
When registering a business in Singapore, it is essential to choose the right business entity, as each type has distinct legal and tax implications. The most common business structures include:
- Private Limited Company (Pte Ltd):A Pte Ltd company offers limited liability protection to its shareholders and is the most popular business structure in Singapore due to its credibility and tax benefits.
- Sole Proprietorship:A Sole Proprietorship is a simple and cost-effective business structure where an individual owns and manages the business. However, the owner is personally liable for all debts.
- Limited Liability Partnership (LLP):An LLP combines the flexibility of a partnership with the limited liability of a company. It is suitable for professional services firms.
- Branch Office:A branch office is an extension of a foreign company in Singapore. It is not a separate legal entity, meaning the parent company assumes full responsibility for its liabilities and operations.
- Representative Office:A Representative Office is a temporary setup for foreign companies exploring business opportunities in Singapore. It cannot engage in commercial activities.
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Expert Guidance for Global Expansion
RBK Business World provided invaluable insights for our international expansion. Their strategic consultation streamlined our entry into new markets with ease. Their expertise in compliance, taxation and operational setup made the process smooth and efficient.
Alex Thompson
Founder, Global Ventures Ltd.
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