Business

Step-by-Step Guide to Register a Private Limited Company in Singapore

Why Choose Singapore to Register Your Business Starting a business in Singapore can feel like assembling a complex machine with many moving parts. But when each piece is in the right place, everything works smoothly and with purpose. Many entrepreneurs choose Singapore because of its transparent business regulations and the straightforward company registration process. If you want to register a private limited company in Singapore, this guide will walk you through every step. You will learn how to choose a business name, define your business type, assign key roles, and complete essential legal requirements with confidence. Each step connects seamlessly to the next, much like tools in a well-organised workshop. This guide also explains why many business owners choose to outsource accounting in Singapore. By relying on professional services to manage reports and compliance, running your company becomes simpler and more efficient. Follow this guide carefully, and you’ll navigate the process with focus and clarity. Choose a Company Name That Follows the Rules Begin the process by selecting a name that fits within the rules. The name must differ from existing ones and cannot contain improper words. It should be easy to read and spell. Choose a name that is not already used Avoid words like finance or media unless approved Reserve the name with ACRA for sixty days Once you receive approval, register your company within the allowed time. A good name reflects the purpose of your business and helps others recognise your company efficiently. Define Your Business Activity with an SSIC Code Each company in Singapore must declare its main activity. The Singapore Standard Industrial Classification, or SSIC, helps the government group businesses into the correct category. Use the SSIC list to locate the code that fits your work Select the code that closely matches your main activity Some codes may need other approvals before you proceed The SSIC code keeps your business grouped correctly for tax and legal purposes. Choosing the right one avoids confusion and delays later. Prepare the Company’s Constitution Document You must write a document called the company constitution. It combines the Memorandum and Articles of Association. It outlines how your company works and what rules everyone must follow. Include your company’s purpose and the way it operates Write the rules about directors, shares, and meetings Use ACRA’s sample or draft your own version The constitution guides the company and gives structure to how decisions happen. Everyone involved refers to it when in doubt. Add Shareholders and Decide Share Amounts Your company must have at least one shareholder. You can include individuals or companies. Decide how many shares each one receives and create a written agreement. List at least one shareholder to begin Divide shares and write a clear agreement Issue a minimum of one share when you start A solid agreement between shareholders prevents confusion and helps the company operate smoothly from the beginning. Appoint a Director Who Lives in Singapore Each company must have one director who lives in Singapore. The director must be old enough and legally allowed to stay in Singapore. The director must be at least eighteen They must […]