Have you ever thought of opening a company in Singapore? Singapore provides the best opportunity to open up a company because of its vast marketplace. However, you need to have proper documentation and follow the registration process to start legal operations fully. To have a smooth and quick registration process, it would be preferable to get a service provider to guide you through the company incorporation service and other processes.
We’ve put down the simple guidelines to follow for the registration of your company.
1. Choosing a certified company registration service provider
You need to choose a certified company registration service provider to register a company as a foreigner. It’s a requirement from the Singapore authority. The service provider should help you navigate and comply will all the regulations of registering a company that the Accounting and Cooperate Regulatory Authority (ACRA) outlines. Preferably the service provider should take you through all the legal processes of registering the company and help you in the company incorporation service. The service provider should also acquire the diligence form for your company. You will need to answer this form and submit it online to determine your legitimacy.
2. Choose a registration package for your company
There are various registration packages you need to choose for your company. The company registration services offered these packages. The service provides a wide range of packages to choose from, ranging from the basic to the full packages. For each package you choose, there are different benefits and privileges. The best benefits and privileges come with the full-service package. This package has many privileges, including a direct referral to the manager of the local banks; this gives your company the best kickstart.
3. Reserve your company’s name
Through your registration service provider, you can submit the name of your company to ACRA. The service provider you choose should follow every step of the processing on your behalf. The name you choose for your company should be distinguished from the other companies, meaning you need a unique name. When choosing the name, there are various guidelines that you need to follow. Part of the guidelines states that the name shouldn’t cause any infringement on other companies. In addition, your company name shouldn’t be obscene or rude. Except for medicine and law, your approval should take less than one hour after the submission.
4. Document verification and signing
For your company registration documents to be approved, you need to follow all the ACRA’s regulations and guidelines. The service provider has to ensure ACRA approves the documents. After the approval of the documents, the authority will produce the Act form. Firstly, the company’s secretary and directors append their signatures. After which, constitute the constitution of the company. For the final registration process, your company should provide the details of legal shareholders and the other officer’s verification documents. After you have gathered the whole information and documents right, you submit them online. Your company’s approval won’t take more than one hour if you have proper documentation.
5. Officially and legally open your company
Given that you submit the proper documentation and the authorities certify your legitimacy, you can start and run your company. This process is simple, and it can be possible in the presence of appropriate documentation to be complete in one day. The service provider offering the company incorporation service should guide you through the follow-up processes. The follow-up processes may include; permission to acquire labor both locally and internationally as well as banking.
Final thoughts
Unlike other parts of the world, it’s easier and quicker to register a company in Singapore. Choosing the best provider to guide you with the company incorporation services can make you achieve faster and easier registration. Margin Wheeler can handle all the business incorporation processes and documentation that complies with the regulations set by ACRA.
