How Do I Get a UEN in Singapore?
The steps of getting a UEN in Singapore are as follows:
Step 1: Choosing what type of business entity you would like to establish
Depending on your requirements, you can choose from a variety of business structures. Incorporating a company and creating a limited partnership or a limited liability partnership are two examples.
Partnerships are smaller-scale businesses in which the partners control the company directly. Therefore, they are subject to fewer and more sophisticated legal regulations, allowing them greater flexibility in corporate operations. Annual General Meetings, for example, are unnecessary, and partners just need to declare personal income and pay taxes on it.
Companies, on the other hand, are better equipped for future expansion and capital raising. As companies, they must adhere to more stringent regulatory compliance norms, such as audit requirements, filing of returns, and the holding of general meetings, among other things.
Step 2: Registering your business
The BizFile+ website is used for registration. Unless your company is in a regulated industry like design, real estate, or defense, it is a reasonably simple process that can usually be finished in one sitting.
The registration charge for sole proprietors, partnerships, and LLPs is $115 for a one-year registration and $175 for a three-year registration. If business continues, the registration must be renewed.
A one-time incorporation fee of $315 is charged for businesses, which covers the registration of a business name.
Step 3: Decide if you want to get a special UEN
Special Unique Entity Numbers are UENs that have been set aside to be “nicer-looking” and simpler to recall in general. However, in addition to the price of business registration, there are additional costs associated with obtaining a SUN.
Step 4: Check your UEN after registration
Upon registration, you will receive a business profile that includes information about your company as well as your UEN. You may also use BizFile+ or UEN.gov.sg to look for your UEN (or the UEN of any other organisation that has one).