3 Steps for a Way to Register a Corporation in Singapore

Of all the alternatives you build when setting up a company in Singapore, one of the most important factors is that you choose the type of business structure for your business. Your decision affects the amount of taxes you pay, the reputation and perception of your company, and thus the benefits and disadvantages that come alongside the legal structure. Private Ltd. may be one of these business structures in Singapore. A personal business is limited by shares and its owners are disbanded. It is remembered because in its description the taxable body.

1. Proposed name

The first thing you want to believe is none other than your name. Clearly, you would need a name that sounds special, not too much like the names of other businesses.

You won't be allowed to register a corporate name with ACRA (Accounting and Company Regulatory Authority) that's just like other businesses are already using, so I'd recommend you only find a list of three possible names for your business before you start the registration process. You wonder, is it easier to settle on a generic or common name for your business?

I would recommend the previous one because you will have the added flexibility to grow your business model in the future without making your name irrelevant.

For starters, let me use a basic example of what I mean. Say you want to start a business to help people plug their services online for how to set up a company in Singapore.





2. Business Activities

The second thing you want to say is that it is the core business practice that determines what your company is doing. Say you're working, is it hardware, software, company & management, consulting with human resources or marketing?

Once you register your company, you need to make a decision on the category for your business activities and you will have a maximum number of two categories for each business.

You can start researching the proper business practices for your organization by using this page on the website of ACRA.



3. Registered Address


Next is the registered address from which you are simply running your company. If you have an office space, you will use it as ACRA has approved the company's address.






If you're not intending to rent an office and need to use your residential address as your registered address to register a company in Singapore, you're going to do that, but you're going to have to apply for the HDB house office scheme before you register with ACRA.


That being said, it is important for you to bear in mind that employing a residential address may not be as professional as employing a business address, especially once you introduce new prospects and customers to your business.