17 Dec 2014 11:45

Starting a Company in Singapore 

1. Prepare to register a firm. The Singapore Registrar of Companies looks at whether a firm possesses the following prerequisites before incorporating it as a private limited liability company or simply Pte Ltd:

- Have got one or more directors as well as one or more investors. It is mandatory for the director to be a Singapore resident, Permanent Resident or an Employment Pass Holder

- Have a business name that's not similar to any registered business name, not indecent or vulgar or reserved

- Have a listed workplace address - not a PO box. It may be a house or a commercial place.

- Identify its SSIC (Singapore Standard Industry Classification) code to categorize the business enterprise to the proper industry type

- Be clear of medisave liabilities or make some other settlement plans.

2. Obtain an authorized company name. At least have 2 to 3 probable company names when submitting the required forms at the Company Registrar. In case your first or second option is previously registered or does not get approval, you are prepared with another alternative.

This step generally takes less than an hour or so till you get a notice of acceptance or rejection. There are circumstances that the acceptance is longer to days or weeks because of the necessary authorization from other government authorities. Enterprises which require the approval of some other government authorities belong to the banking and finance, law and mass media industries.

3. Get the enterprise registered. You have 60 days from the time your company name was approved register your enterprise.

Useful Links:

http://www.companyincorporationsg.com/offshore-company-incorporation-singapore/

http://www.mom.gov.sg/foreign-manpower/working-in-singapore/starting-a-business/Pages/default.aspx

http://www.edb.gov.sg/content/edb/en/why-singapore/ready-to-invest/setting-up/entering-singapore.html


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