Explore Steps of Company’s Registration and GST Authorization in Singapore

by GST Registration GST Registration Singapore

Doing business in Singapore can be a dream project of many small and mid-size businesses in the world. So, if you are going to incorporate a new company in Singapore, you should go for it wisely and make sure you have done with research of all legal aspects and requirements associated with company incorporation and its registration to be done as per ACRA norms in Singapore. Before going to register the business, you should have to complete all legal formalities of business incorporation and get the incorporation certificate or number from Singapore government in advance. Thus, it will make easy for you to move to the next step like company registration that is mandatory to run a business legally in Singapore.

No worries, if you do not know how to register a company in Singapore through genuine ways, you should go through with below tips that will help you to know about all legal requirements of the same process. According to the Singapore Company Act 50, you should have to complete the following things wisely:

Some Pre-registration Requirements to Register Company in Singapore

·      There should be at least one resident director in the company.

·     You need to ensure that the company has one shareholder and their numbers can be increased up to 50 only.

·     It is necessary to have a registered address or local address of the company. You also need to appoint a company secretary after six months of the company’s incorporation.

·       You should have at least S$1 million paid capital of the company.

 

Apart from above pre-registration requirements, you should also know what kinds of documents are needed to be arranged for the company’s registration process.

Documents Required for Company’s Registration in Singapore

·       Submit certificate of the company’s registered name approved by ACRA.

·        Provide a little brief of the company’s business plan.

·        Give details of the company’s registered address proof.

·        Provide with details of the company’s directors and shareholders.

·        If you have appointed company secretary, give his details too.

·       Submit copy of identifying proofs, passport details, and other business information too.

Thus, you need to make ready all the above documents in advance to qualify for the company’s registration process in a legal way. Moving on, you will have to follow up genuine registration steps given below:

1. Company’s Name Registration

To register a new company in Singapore, you should start registering the name of the company through ACRA. If you want to get it done quickly, you need to keep the following things in mind such as:

·        Make sure you have set a decent and unique name of the company. There should be the proper meaning of the company’s name, not any vulgarity or non-professionalism.

·       There should be a copyright issue for the company’s name, trademarks, and logo of the firm.

·       Your company name registration application needs the approval of an external authority in case its name relates to some words like Finance, Bank, Media, Education, etc.

Once you clear out all the above things, your application for the company’s name registration will be done as soon as possible by ACRA.

2.  Company Registration, Finally

Once you clear out all the above things said in the first step of the company’s name registration, you can finally proceed further to apply the company’s registration to be done. It will not take much time if you have submitted all required documents to the ACRA for the verification process. After completing the authentication of all documents, the authority will issue the registration number of your company soon.

Thus, the above steps will make you clear all things about Setting up a company in Singapore in an authorized way.

After getting your company’s registration, there are still many things you need to register and approve by ACRA such as GST registration of the company. It is necessary to be done to file for goods and services tax by eligible businesses in Singapore. The GST tax rate in Singapore is fixed for businesses up to 7% only.

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Created on Apr 26th 2019 17:02. Viewed 605 times.

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