Singapore Company Incorporation: A Guide to Naming Your Business and Registering a Business Name
Singapore is a popular destination for businesses, offering a favorable business environment, low tax rates, and a highly developed infrastructure. If you’re planning to set up a business in Singapore, one of the first steps is to choose a unique and memorable name for your company. In this article, we’ll guide you through the process of naming your business and registering a business name in Singapore.
Choosing a Business Name
Picking the right name for your business is crucial. It should be unique, memorable, and reflect the nature of your business. Here are some tips to keep in mind:
- Make it unique: Ensure your business name is not similar to an existing company name in Singapore.
- Keep it short and sweet: A shorter name is easier to remember and more likely to stick in customers’ minds.
- Make it memorable: Choose a name that is easy to spell and pronounce.
- Check the availability: Use the Singapore Company Registration Portal (CorpPass) or the Accounting and Corporate Regulatory Authority (ACRA) website to check if the name is available before finalizing it.
Registering a Business Name
Once you’ve chosen your business name, you’ll need to register it with the relevant authorities. Here’s a step-by-step guide:
- Go to the Singapore Company Registration Portal (CorpPass): You’ll need to register for a CorpPass account to access the portal.
- Fill in the application form: Provide all the required information, including your business name, business type, and registered address.
- Pay the registration fee: The registration fee for a Singapore company is SGD 300 (approximately USD 220).
- Submit the application: Once you’ve filled in the form and paid the fee, submit the application.
- Wait for approval: ACRA will review your application and notify you once it’s approved.
Additional Requirements
In addition to registering your business name, you’ll need to meet some additional requirements:
- Get a unique registration number: Your company will be assigned a unique registration number, which you’ll need to display on your business documents and stationery.
- Obtain an ACRA-issued Business Registration Certificate: This certificate serves as proof of your business registration.
- Get a tax registration number: You’ll need to register for a tax registration number with the Inland Revenue Authority of Singapore (IRAS).
Conclusion
Registering a business name in Singapore is a straightforward process, but it’s essential to get it right. By following the guidelines outlined above, you’ll be well on your way to setting up a successful business in Singapore. Remember to choose a unique and memorable name, register with the relevant authorities, and meet the additional requirements to ensure a smooth and compliant business setup.
FAQs
Q: Can I reserve a business name in Singapore?
A: Yes, you can reserve a business name for a period of 30 days by paying a fee of SGD 30 (approximately USD 22). If you don’t register the business within the 30-day period, the name will be released back into the pool.
Q: Can I use a name that is similar to an existing business name?
A: No, it’s not recommended. The name should be unique and distinct from existing business names in Singapore to avoid confusion and potential trademark issues.
Q: How long does it take to register a business name in Singapore?
A: The registration process usually takes 1-2 working days, but it may take longer if there are any issues or additional information required from ACRA.
Q: What is the fee for registering a business name in Singapore?
A: The registration fee for a Singapore company is SGD 300 (approximately USD 220), which includes the registration of the business name and the issuance of the Business Registration Certificate.
Q: Can I register a business name that is not in English?
A: Yes, you can register a business name that is not in English, but it must be accompanied by a certified translation in English. The translated name must be identical to the original name, and both the original and translated names must be registered with ACRA.
