Requirements for Singapore Company Registration
Any foreigner who has never before incorporated a company in Singapore but would like to do so must fulfill specific requirements. The failure to do so will cause the incorporation of the company to become invalid.
The incorporation of a company in singapore is a process consisting of many steps. Regardless of whether the company to be incorporated is local or foreign, every step must be properly followed before the company can be completely incorporated.
Documents Necessary for the Incorporation process in Singapore
Before commencing a company’s registration process in Singapore, you should be aware of the necessary documents that you should have for the process.
- Name of the company
- Particulars of shareholders, directors, and company secretary
- Company constitution
The name of the company
Registering a company will require you to preserve a company name. The name must be unique, and it has to be approved before commencing the registration process. Selecting the name of a company is very critical when registering a company in Singapore.
Which names can’t I use?
Singapore Company naming is governed by the Companies Act of 2006, section 27, clause 1. The Registrar of companies will decline name preservation if the name;
- Undesirable; that is if the name is considered obscene or include religious names
- Is identical to the name of an already registered company in Singapore, whether it is a corporation, business, or even a partnership.
- When the business name is not acceptable as per any of the directors of the minister.
These are some Rules determining identical names
When deciding whether the company names of two or more companies are identical, then the following parts shall be disregarded:
If ‘The’ is the first word in the title.
If the following words appear at the end of the company name; ‘Berhad’ ‘Bhd’ the words’ Ltd’, ‘Limited’, ‘Limited Liability Partnership’, ‘Pte’, and ‘Public Accounting Corporation’ ‘PAC’
As a prospect entrepreneur, you should know that a business name is a powerful tool that will dictate your industry’s success. You have the potential to succeed when your business name speaks for itself. It will be easier to build your business brand when your business name stands out among the competitors. Further, to maintain market relevance, you should ensure that your business’s name is not based on current trends that will eventually fade.
However, a company can register an identical name to a company that has ceased to exist. If a business owner wishes to register a company name that has been dissolved, then they must do so after a given period of time. That is after 2 years if the company has been dissolved through winding up or after a period of 6 years if the company was dissolved through sticking off of its name from the companies register.