A complete 10-step guide for registerting a Pte.Ltd in Singapore

Selecting a name for your private limited company is a crucial initial step. Ensure it aligns with your business activities and strategy, and presents the desired image. It's vital to note that the Accounting and Corporate Regulatory Authority (ACRA) may reject a name for reasons such as 

1. Name duplication;
2. Copyright infringement, or; 
3. Government restrictions. Please refer to this list of Referral Authorities to know which word needs permission from the Singapore authorities to be used.

We suggest you prepare a list of three unique names, and Global Link Asia Consulting can assist in verifying and registering them with ACRA.

1. Smoothly establish your Pte. Ltd company by ensuring all necessary documents are in order:
2. ACRA-approved company name.
3. A brief description of business activities, along with the corresponding SSICC industry code.
4. Appointment of at least one Singapore resident director if you are a sole foreign shareholder of the company. If you wish to act as a Singapore director, we help you register for an Employment Pass.
5. One to fifty shareholders, each requiring specific documentation.
6. Registered office address in Singapore.
7. A resident individual in Singapore to act as a company secretary.

We help you submit all required documents and the registration form to ACRA for company registration. While ACRA typically approves registrations on the same working day, additional documentation may be needed in special cases.

Upon confirmation of your registration form, ACRA will send an email notification containing your company registration number (UEN) and the electronic certificate of establishment.

A crucial step for business transactions, opening a bank account requires the physical presence of the foreign director and account holder in Singapore. Ensure you have the necessary documents, including passports, residential address proofs, a certificate of incorporation, a business profile from ACRA, and board resolutions.

Normally, the bank will require all of the documents listed below. Based on each specific case, the bank will require additional documents:

• Bank documents required for account holders to prepare:
• Application to open a bank account (will be provided by the bank): Global Link Asia Consulting will guide the account holder to fill in information to increase the likelihood of success;
• Valid documents of the Singapore company such as a Business Registration License and Company Charter;
• Passport of director/shareholder/bank account holder;
• Proof of address of the director/shareholder/bank account holder;
• Documents proving financial transactions such as contracts and sales invoices;
• Documents proving company operations such as website, and brochure.

You will need to obtain one or more licenses and permits depending on the company's business activities. A newly established company must obtain a license before starting business operations.

Only a few activities require a license to do business, including travel agencies, cleaning services, import and export, restaurants, educational institutes, and financial services.

After formation, companies doing business in the above-mentioned fields must apply for a business license from the relevant competent authority.

Upon completing the share allocation, it's crucial to issue share certificates to shareholders. 

A share certificate is a legal document confirming ownership of company shares. Include relevant details such as the shareholder's name, the number of shares issued, and the company's official stamp. Ensure compliance with regulatory requirements to maintain transparency and facilitate smooth transactions among shareholders.

If your company's taxable turnover exceeds or is expected to exceed SGD 1 million in the next 12 months, it is mandatory to register for GST. Even if your turnover is below the threshold, voluntary registration can be advantageous for claiming input tax. 

You should familiarize yourself with GST regulations, determine your registration eligibility, and submit the necessary documents to the Inland Revenue Authority of Singapore (IRAS). This step is vital for managing tax obligations and financial planning. 

We suggest you engage with financial experts to navigate the complexities of GST registration effectively.

Consider factors such as employment passes for foreign employees, intellectual property protection through trademark registration, implementing a corporate governance framework, drafting employment contracts and policies, and adopting appropriate cybersecurity measures.

Ensure ongoing compliance with regulatory requirements, 

1. Conduct regular board meetings, 
2. File annual returns with ACRA, 
3. Stay updated on changes in tax regulations, and 
4. Engage in periodic reviews and audits with legal and financial professionals.
5. Prepare all necessary filings and submit them to relevant authorities.