Everyone dreams of having a company in a foreign land where trade and businesses thrive. One such place in Singapore. Conducting a business in Singapore is very successful if you know the intricacies of having a business. But before you start your journey, it is important to understand certain things.
It is important to register and incorporate your business as far as Singapore is concerned. If you know the rules and regulations, the process becomes very easy. But in the absence of basic knowledge, you can run into endless problems.
Here’s an article that imparts the understanding of the registration and incorporation of the company in Singapore.
Why do we need a Company Registration in Singapore?
Singapore is a hub for businesses and the trade sector. It is necessary to see that you need to provide an identity for the company you are going to start. The identity of the company is the first thing that reaches your customers.
To go through the entire incorporation and registration process, it is necessary to contact the right incorporation and registration service provider. Bestar is a well-known name as far as company registration and incorporation is concerned. It is irrelevant whether you are a local or a foreigner, to start a company, its registration is the first step. As an entrepreneur, you and your company have to strictly adhere to Singaporean laws and regulations.
Steps to company registration and incorporation in Singapore:
The compliance laws and rules can seem overwhelming when you are about to start your own company. Let us simplify the process for company registration in the following steps:
Choose a name for your company:
This is what we meant by when we discussed the identity of the company. Whenever you begin the company registration process, it is essential to have a company name. Also, make sure that the name is available for registration. To begin this process, you request a query to ACRA. It is a regulatory body that takes care of all the local businesses. At Bestar, we help you keep the process simple to keep it less overwhelming. We ensure that with basic charges, the registration process is completed.
Define the type/domain of your business:
Singapore ACRA body allocates a unique code for every business type. Standard Industrial Classification (SSIC) provides identification for your business. It lets the government see whether you are a tech company or a restaurant. With SSIC, you have to see whether you need a license or do you qualify for tax exemption. With the company registration, you have to correctly choose the code that defines your business type.
Secure the checklist for incorporation:
Once the above-defined steps are complete, you have to get your checklist. Bestar offers you to list out all the documents that you require for the registration of the company in Singapore. We also impart the understanding of Corporate Secretary and Registered Addresses. The company name and the business code that you have selected in previous steps will be visible on the checklist.
Documents required for registration of a company in Singapore:
With a new business, it can be complicated to find out the list of documents necessary for the registration. Bestar Services recommends getting the following documents to incorporate a company in Singapore:
- Name of the company
- A small description of your business
- Details of the company shareholders
- Information about the company’s director(s)
- The registered address of the company
- Particulars of the company secretary
If you are a non-resident that wants to start a business in Singapore, you will need the following documents:
- Passport copy
- Residential address proof of overseas location
- KYC details like reference letters from the bank, personal profile, business profile, etc.
For a Singapore citizen, you just need to have a copy of the Singapore Identity Card.
How does Bestar provide company incorporation services in Singapore?
Bestar has been providing company registration and incorporation for years now. That is the reason why it has been a popular name in the market for years now. As you confirm the decision to access our services and functions, we register you as our client. This way, we will allocate a team to you that enables quick company incorporation and registration in Singapore.
Bestar has an online platform that takes care of required information, documents, details, signatures, and other things via online procedures. With such a process in place, we eliminate the time thus consumed. Also, you can directly communicate with our team members to solve your doubts. We ensure a transparent communication policy to facilitate communication.
Our system will provide you with the details of the application at every step. You can log into the system and check the status at any point in time.
Register and incorporate your company with Bestar Services to complete the process effortlessly. Our team ensures that we take care of the company registration and incorporation in Singapore while you focus on your business.