Embarking on the exciting journey of establishing your dream business in Singapore begins with the essential step of registering your business. This comprehensive guide, focused on ‘Register Business Singapore,’ will lead you through the process, from reserving your business name to completing the registration.
Whether you’re an aspiring entrepreneur or a seasoned business owner, you’ll find all the essential information you need to set out on this path to success.
Overview:
Reserve Your Business Name in Singapore
When it comes to registering a business in Singapore, the critical initial step involves reserving your business name. This ensures that your chosen business name is both unique and available for use.
Below, we outline the process of reserving your business name:
How to Apply for a Business Name in Singpore
To secure your business name before proceeding with business registration, follow these steps:
Visit the official Singapore government website for business registration.
Log in using your Singpass credentials; if you don’t have one, you can easily apply for Singpass on the same website.
Utilize the Guided Journey feature to initiate the process of reserving your business name.
Enter your chosen business name and follow the prompts to check its availability.
If your chosen name is available, you can reserve it for your business.
How To Register Your Business in Singapore
Once you’ve successfully reserved your business name, you’re prepared to move forward with the business registration process. Singapore offers three distinct methods for registering your business, depending on its structure.
For Sole Proprietorship/Partnership:
Register directly through GoBusiness.
Log in using your Singpass.
Use the Guided Journey to continue with the next steps for registering your Sole Proprietorship/Partnership.
For all types of business structures:
Register directly through BizFile+.
Alternatively, you can engage a registered filing agent, such as a law firm, accounting firm, or corporate secretarial firm, to submit an online application on your behalf.
Each business structure type has its own prerequisites, information, and supporting documents required for registration. Here’s a breakdown of what you need to know to register different business structures:
How To Register a Business (Sole Proprietorship/Partnership) in Singapore
Application Fee:
$100 for one year or $160 for three years (inclusive of registration and renewal fee)
Additional $40 for every Alternate Address registered (optional)
Average Processing Time:
Usually approved within 15 minutes after registration fee payment.
May take 14 to 60 days if the application needs review by Referral Authorities
Pre-requisites:
All position holders must be at least 18 years old.
All owners must clear outstanding Medisave liabilities with CPF Board.
The owner(s) must be either a Singapore Citizen, Singapore Permanent Resident, or an EntrePass or Employment Pass (EP) Holder.
EP Holders should obtain a Letter of Consent (LOC) from the Ministry of Manpower.
All owner(s) or authorized representatives must endorse the application before payment.
Foreigners will need to engage the services of a registered filing agent for online application submission.
Information/Documents Required:
Commencement date.
Business address.
Particulars of business owners and authorized representatives (if applicable).
The process may seem complex, but with the right guidance, it becomes much more manageable. If you’re ready to take the next step and incorporate your business in Singapore, we recommend engaging the services of a registered filing agent who can expertly navigate the process on your behalf. To learn more about our incorporation services, visit Incorporation Services.
How To Register a Limited Partnership in Singapore
In Singapore, a Limited Partnership has its own set of requirements and processes for registration. Here’s what you need to know:
Application Fee:
$100 for one year or $160 for three years (inclusive of registration and renewal fee)
Additional $40 for each Alternate Address (optional)
Average Processing Time:
Usually approved within 15 minutes after registration fee payment.
May take 14 to 60 days if the application requires review by Referral Authorities
Pre-requisites:
All position holders must be at least 18 years old.
There must be at least one General Partner and one Limited Partner.
All partners must clear outstanding Medisave liabilities with CPF Board.
The partners must be either a Singapore Citizen, Singapore Permanent Resident, or an EntrePass or Employment Pass (EP) Holder.
EP Holders should obtain a Letter of Consent (LOC) from the Ministry of Manpower.
Alternatively, if all the General Partners do not reside in Singapore, a local manager must be appointed.
All partners and the local manager (if applicable) must endorse the application before payment.
Foreigners will need to engage the services of a registered filing agent for online application submission.
Information/Documents Required:
Commencement date.
Business address.
Particulars of partners and local manager (if applicable).
Register a Limited Liability Partnership (LLP)
If you’re interested in forming a Limited Liability Partnership (LLP) in Singapore, here’s what you need to know:
Application Fee:
One-time registration fee of $100.
Additional $40 for each Alternate Address (optional).
Average Processing Time:
Usually approved within 15 minutes after registration fee payment.
May take 14 to 60 days if the application requires review by Referral Authorities.
Pre-requisites:
All position holders must be at least 18 years old.
There must be a minimum of two partners.
The partners must be either a Singapore Citizen, Singapore Permanent Resident, or an EntrePass Holder or Employment Pass (EP) Holder.
EP Holders should obtain a Letter of Consent (LOC) from the Ministry of Manpower.
A local manager who resides in Singapore must be appointed.
All partners and the local manager must endorse the application before payment.
Foreigners will need to engage the services of a registered filing agent for online application submission.
Information/Documents Required:
Commencement date.
Registered office address.
Particulars of partners and local manager.
Incorporate a Local Company
If you’re planning to incorporate a local company in Singapore, here’s what you need to know:
Application Fee:
One-time registration fee of $300.
Additional $40 for each Alternate Address (optional).
Average Processing Time:
Usually approved within 15 minutes after registration fee payment.
May take 14 to 60 days if the application requires review by Referral Authorities.
Pre-requisites:
All position holders must be at least 18 years old.
There must be at least one director who is either a Singapore Citizen, Singapore Permanent Resident, or an EntrePass or Employment Pass (EP) Holder.
EP Holders should obtain a Letter of Consent (LOC) from the Ministry of Manpower.
There must be at least one director and one shareholder.
All position holders must endorse the application before payment.
Foreigners will need to engage the services of a registered filing agent for online application submission.
For business leaders seeking a seamless path to registering their businesses in Singapore, our expert services are here to simplify the process.
We understand the intricacies and challenges of business registration, and we’re equipped to guide you every step of the way.
Our team of professionals ensures that your registration experience is efficient and hassle-free, allowing you to focus on your entrepreneurial goals.
To take the first step towards hassle-free business registration, visit our dedicated Incorporation Services page. Your dream venture is just a click away from becoming a reality!