Blog

Additionally, there are tax deductions and incentives for business activities like research and development, investment in approved activities, or qualifying expenses. You can also find out how the Start-up Guide has helped other business owners to take the first step in establishing their venture. Ready to turn your business dreams into reality, but feeling daunted at the thought of incorporating your venture? The process may seem overwhelming, but it doesn’t have to be. GoBusiness is here to help, by making the process seamless, fuss-free, and all the more easy for you to kickstart your business and be your own boss.

Just like a house structure, different business structures will suit you depending on your business plan and business model. Upon successful registration of your new company, you will be issued a Unique Entity Number (UEN) which will be used in all your transactions with government agencies. Once you’ve saved your Guided Journey, follow the recommended steps to complete the process. You can also pause and continue your application any time on the GoBusiness Dashboard, and the status will be reflected under “My Submissions”. This will direct you to the e-Adviser for Starting a Business, where you will be asked to enter details such as your selected business name, business structure, and activities. Filing the incorporation application is the final step in the process of setting up your company in Singapore.

Company Name Reservation

Learn more about what you need to register your business, depending on the business structure you’ve chosen at Step 1. Learn about the different business structures and find out which one best suits your business. Use this e-Adviser to get recommendations for a suitable business structure, based on your business requirements. You must provide an address when registering your business with ACRA. You must inform ACRA of any address change within 40 days of registration. It is like laying the foundations for your house – or perhaps more like designing the floor plan.

Get a Licensed Corporate Secretary and Director

The EP allows you to enter Singapore and work for your new company. To officially start your business in Singapore, you must register it with the Accounting and Corporate Regulatory Authority (ACRA). For further details, please read our guide Opening a Corporate Bank Account in Singapore. In case your first choice name is not available, our team will apply for your alternate choices. Read up on the regulations that are specific to your business sector or industry. Your taxable or chargeable income is calculated by adding up your exemptions, incentives, and deductions and then subtracting the total from your income.

Company Incorporation with ACRA (Service Provider)

This guide will detail all the essential company registration requirements and walk you through each step of registering a Singapore company online. With its streamlined company registration process, coupled with its business-friendly environment, robust legal framework, and competitive corporate tax rates, Singapore continues to be a magnet for entrepreneurs worldwide. A corporate secretary, also known as a company secretary, is required by the Companies Act of 1967.

This means there is unlimited how do i choose the right tax filing status liability to taxes and debts from the business and the individual who runs it. Once you’ve understood the steps required from the guide, start the registration process by choosing a business structure. Consider factors such as the number of owners for your venture, your business plan, and the ease of setup and maintenance for each business structure to decide which one best fits your venture. By following these steps, you ensure compliance with local laws and set a solid foundation for your business operations. Once you’ve reserved your business name and completed your registration, your next move is to set up a Corppass Administrator account.

1. A business name is the name your business will use to operate.
2. Your taxable or chargeable income is calculated by adding up your exemptions, incentives, and deductions and then subtracting the total from your income.
3. Use this e-Adviser to get recommendations for a suitable business structure, based on your business requirements.
4. It is like laying the foundations for your house – or perhaps more like designing the floor plan.
5. All applications are usually processed and approved within 15 minutes of the payment of application fee.

Foreigners are required to engage the services of an approved Corporate Service Provider (CSP), such as our company, to register a business in Singapore. Singaporeans are also strongly advised to utilize the services of a CSP to facilitate the registration process and ensure ongoing compliance. The application fee for sole proprietorships and partnerships, LP and LLP is $100. Incorporating a business in Singapore costs SGD 15 for the company name application and SGD 300 for the registration fee. You can purchase a certificate of incorporation at the price of SGD 50. Alternatively, you can engage an agent to incorporate your business.