Start A New Company

- company registration

- corporate secretarial services

- accounting

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Apply and reserve a new company name. Check if your proposed name is available. 

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How to set up a local company in Singapore

 

Before you start

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• Choose a business structure. A local company is a separate legal entity from its directors and shareholders, and offers limited liability. This means that the directors' and shareholders' personal assets are protected in the event of the company's insolvency.

• Reserve a business name. You can email your proposed name to Bestar. The company name must be unique and cannot be similar to any existing registered business names in Singapore.

• Decide on a financial year end. This is the date on which the company's financial year ends, and is typically used for accounting and tax purposes.

• Appoint directors, a company secretary, and other key personnel. Directors are responsible for managing the company and making decisions on its behalf. The company secretary is responsible for ensuring that the company complies with all applicable laws and regulations.

 

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Requirements

 

To set up a local company in Singapore, you must meet the following requirements:

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• At least one shareholder and one director. At least one director must be a resident of Singapore or have a valid work pass.

• The company must have a registered office address in Singapore.

• The company must have a company secretary.

• The company must have a constitution.

 

Registration process

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To register your company, you can email the required information to Bestar. You will need to provide the following information:

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• Company name

• Business activities

• Shareholders' particulars

• Directors' particulars

• Registered office address

• Company secretary particulars

• Constitution

 

Submission of application

 

Once you have provided all the required information, we can submit it online. You will need to pay a registration fee of S$315.

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Processing time

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ACRA typically processes company registration applications within 1-2 business days.

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Once your company is registered

 

Once your company is registered, you will receive a Certificate of Incorporation and a Business Registration Number (BRN). You will also need to open a corporate bank account and apply for any necessary business licenses.

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Other important information

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• Maintaining company registers: All companies in Singapore are required to maintain certain registers, such as the register of members, the register of directors, and the register of charges.

• Other obligations: Companies in Singapore are also subject to other obligations, such as filing annual returns and paying taxes.​

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Conclusion

 

Setting up a local company in Singapore is a relatively straightforward process. By following the steps outlined above, you can register your company and start operating within a few days.

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Connect with Bestar

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• Contact Bestar corporate secretary and accountant when setting up a company in Singapore.

• Bestar offers a variety of resources and support services for businesses, including a step-by-step guide on how to set up a company.

• You can also call Bestar's corporate secretarial department for assistance.

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