singapore company register

LLP’s are meant for professional service providers such as accountants, architects, and law firms where two or more professionals build a joint practice in their field. When you register as an LLP, ACRA might require additional vetting from other agencies before your company the five types of accounts in accounting is registered. LLP or limited liability partnership is a more recent and more advanced form of partnership than Limited Partnership and General Partnership. A general partnership is formed by a minimum of 2 persons and a max of 20 persons.

What types of business structures are available when registering a company in Singapore?

We have ready-made incorporation packages based on the most common needs of our foreign and local clients. Our platform allows you to easily communicate with us online for any clarifications you may need at any step of the process. If you do not want to draft a company constitution from scratch, model Constitutions are available here. That’s everything you need to know and more on how to register a company in Singapore. If you plan to build your company around two or more professionals, you can register as an LLP. In a separate email, you get a copy of your Business Profile, or BizFile.

Registering the company

Obtain approval from ACRA (Accounting and Corporate Regulatory Authority) for both your company’s address and its name. Ensure that the proposed name meets ACRA’s guidelines and that the address complies with local regulations. A Pte Ltd company has less than 50 shareholders, and its shares are inaccessible to the public.

singapore company register

How to Register a Company in Singapore – Complete Guide for 2024

For instance, if you plan to trade overseas or accept foreign currency, you’ll need a different business account for your Singapore company. Your company’s name must be approved before you apply to ACRA. So, any confusion over the name will delay the process until it’s resolved.

Shareholders of Singapore companies can benefit from 0% tax on dividends and 0% tax on capital audit tests gains. For YA 2020 onwards, 75% of the first S$100,000 of profits earned in Singapore for the first 3 years from a company’s incorporation are exempted from taxes. More information in our 5 minute Guide to Singapore’s Corporate Tax System. Had an extremely pleasant experience dealing with the Sleek platform.

For shareholders in a Pte Ltd, their liability is limited to the investments in their shares. Starting as a sole proprietorship is possible for you even if you plan to convert to a private limited company. It is an option provided to you by the ACRA, so you don’t have to worry about establishing the structure when you register the business.

You get your first copy of the BizFile in PDF format for free. Additional copies will cost you S$5.50 and made available an hour after the request has been made. As a key logistics hub, Singapore boasts the efficient, award-winning Changi International Airport, making regional business a breeze. With more than 400 direct flights, key markets like Indonesia, Malaysia, and the Philippines are just a hop away. Take them seriously and ensure all the information is accurate. There is no minimum paid-up capital requirement for registration.

Representative Office

  1. Our expert team will also help you to prepare any other documentation your company will need to get started and running.
  2. Public companies are listed on the Singapore Exchange (SGX) and typically have more than 50 members.
  3. If you expect your annual turnover to exceed S$1 million, you must register for Goods & Services Tax (GST).
  4. Like a typical company, you just need to decide what type of legal entities you need to register.
  5. Once registered, you must comply with ongoing reporting and filing requirements.

Singapore is a fantastic place to incorporate a company — but starting a business can be tricky. Yes but you’ll need to apply for a Letter of Consent (LOC) from MOM to run your business, production costs: what they are and how to calculate them after you have registered it with ACRA. More information on the eligibility requirements and application process here.

We’ll also ensure you know important deadlines throughout your financial year. The appointment is a legal requirement; the role is critical to your business, and Singapore companies cannot operate without one. It requires various certifications and involves many responsibilities. The financial barrier to entry for company formation in Singapore is low.