We have been working with David for 20 years. His dedication and professionalism over this time has kept our business relationship strong and growing. His experience in BVI and Asia is priceless.
Mr Ho
Accountant
Incorporation for locals
Streamline your business setup in Singapore with our local company incorporation service packages.
Incorporation for foreigners
Navigate your business entry into Singapore successfully with our incorporation services for foreign business owners, including secretarial and nominee director services for full compliance.
Why Choose Segovia When Incorporating Your Company in Singapore?
There are two ways to incorporate a company in Singapore. One involves filing paperwork with the Singapore government on your own, and the other is engaging the company incorporation services of a private firm that specialises in corporate law.
As a corporate service provider, Segovia offers comprehensive company incorporation services to ensure a seamless process for your company incorporation in Singapore.
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Our Singapore Incorporation Services
Our company incorporation services in Singapore will be tailored to your business needs, and we can provide support with the following:
Segovia streamlines the process of obtaining approval for your company name, ensuring it complies with ACRA’s regulations. We guide you through the naming guidelines and submission requirements, enhancing your chances of a successful outcome.
We help you prepare all necessary documentation for ACRA, ensuring accuracy and completeness. Our experts assist in organising, reviewing, and submitting the required information, facilitating a hassle-free submission process.
Segovia simplifies the incorporation process by handling all administrative tasks on your behalf. We assist in selecting the appropriate business structure, preparing the constitution, and submitting the application to ACRA, saving you time and effort.
Our services extend to aiding in the setup of corporate and personal bank accounts. We guide you through the bank account selection process, assist in documentation, and facilitate the account opening, ensuring a smooth financial setup for your business.
Segovia offers ongoing support to ensure you meet regulatory compliance and annual filing obligations. We provide timely reminders, assist in preparing and submitting required reports, and help you stay in good standing with ACRA and IRAS, reducing compliance-related burdens.
The Singapore Companies Act also stipulates that businesses have to appoint a resident secretary within six months of incorporating a company. Aside from company incorporation, Segovia also offers secretarial services to assist you with the management of documents and submitting information to ACRA before deadlines.
Contact Us for Professional Advice on Singapore Company Incorporation
Request a free consultation to learn more about our corporate services and receive professional advice on company incorporation in Singapore. We’ll create a bespoke proposal outlining how our services can help you set up a company, meet requirements, and maintain compliance.
Steps to Incorporating a Company in Singapore
Step 1: Determining business entity type
One of the first steps involves determining your corporate structure. Which business entity supports your objectives best? When deciding on a corporate structure, consider who the shareholders of your company are, the size of each share, who the directors are, and the initial share capital of the company. It also helps to weigh the advantages and disadvantages of each business type while keeping in mind your ultimate goals to arrive at the best decision. Your risk appetite is also a significant factor and affects the business entity type that you choose.
Step 2: Decide on a company name
Choosing an appropriate company name can be difficult. Adding to this conundrum is having to ensure that your company name has not already been taken up by another business. To check if your shortlisted names are available for you to register, search them on the Accounting and Corporate Regulatory Authority (ACRA) website. Take care to ensure you have spelt the name correctly. Registering your name would cost S$15.
During this process, you would also have to indicate the nature of your business using the Standard Industrial Classification (SSIC) codes. For example, if you’re starting an advertising business, the corresponding SSIC code is 73100. Upon receiving the approval of your application, complete your company incorporation in Singapore within 120 days, or you will need to restart the application process.
Step 3: Prepare the required documents
Once your company name has been approved, prepare the following legal documents:
- Company constitution
- Consent from company directors
- Consent from company secretaries
- Declaration of the company’s controllers
For Singapore residents, submit these documents on Bizfile+ to complete your application. To log into the Bizfile+ portal, use your Singpass. You will be asked for your transaction number, which was provided during the application of your company name.
Frequently Asked Questions About Company Incorporation in Singapore
To incorporate a company in Singapore, you would need the following:
- Company constitution
- Consent from company directors
- Consent from company secretaries
- Declaration of the company’s controllers
Segovia collects these documents on your behalf and assists in the application process from start to finish. Simplify the set-up process by reaching out to us for our professional Singapore incorporation services today.
Individuals can incorporate companies under a sole proprietorship or can choose to incorporate companies with partners, where the liability is shared amongst owners. Both Singaporeans and foreigners can incorporate companies in Singapore. Foreigners based overseas can legally own shares in a Singapore-registered company. Find out more about how you can start incorporating companies in Singapore and explore our range of services by requesting a free consultation with Segovia now.
Once the name application fee is paid, it takes as little as 15 minutes to have your application processed and for your company to be incorporated. However, if approval needs to be sought by other agencies, the process can take between 14 days to 2 months.
To check the status of your application, visit the Bizfile+ portal and use your transaction number, receipt number, EP Reference Number or ACRA Reference Number (ARN) to see if your company has been registered. Alternatively, you can use the search directory available on the ACRA website. Type in the name of your business entity, and if it shows up -– it means your company is registered.
Submit your proposed name through the ACRA BizFile+ portal to get your company name approved in Singapore. Ensure your name is unique and does not include any restricted or undesirable terms. ACRA will review the submission to ensure it complies with all naming rules. If the name meets the criteria, it will be approved and reserved for your use.
In Singapore, the minimum issued share capital required to incorporate a company is S$1. This makes it accessible for many to start a company, though the actual amount of share capital can be higher depending on your business needs and goals. Share capital can be issued fully paid or partly paid, and any unpaid share capital represents future financial commitments by the shareholders.
Every company must have at least one shareholder, regardless of its type. For private limited companies, there is a maximum limit of 50 shareholders. Unlimited public companies, however, can have more than 50 shareholders.
Incorporating in Singapore comes with several tax benefits. New companies can benefit from the Start-up Tax Exemption Scheme, which provides partial tax exemptions on profits for the first three years. After the initial period, the Partial Tax Exemption Scheme offers continued relief for small and medium-sized businesses. For larger companies, the Group Relief system allows unutilised losses and allowances to be transferred within a group, reducing the overall tax burden.
Yes, every business in Singapore must have a registered address. For sole proprietorships, partnerships, and LPs, a residential address can be used under the Home Office Scheme. However, companies and LLPs need a registered office that is accessible during business hours for official communications. To protect personal privacy, business owners can opt for an alternate public address while providing their residential address to ACRA for official correspondence.
If you’re planning to establish a company in Singapore, Segovia offers professional incorporation services to streamline the process and ensure all legal and regulatory requirements are met efficiently. For more detailed guidance on this process, feel free to contact us.