New company? Steps to register it

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If you establish a company, then you will have no issues to register it, because there are multiple guides to help you understand the process. In the past, you had to figure out what to do, and understand what papers you need. Also, you had to wait several weeks, and pay a large sum for the entire business. But nowadays if you do not want to ask your solicitor or accountant to help you with the formalities, you can do it by yourself. It is ok that you want to control the process, because you want the business to be successful. However, if you want to register the company, without experiencing any issue, you have to check the following steps, to understand better what it implies. This guide will offer you all the information you need to know.

Do you want to establish a limited company?

There are cases when people consider that their only option is to establish a limited company, but you have to ask a professional if this is the right form for your business. The process of Singapore company registration for a limited firm is different from the one of a standard business, and you have to access the right information. If you establish a limited company then you will benefit from multiple advantages. You will be able to possess the majority of your rights as an individual, but you will be protected in case of business liability.

Decide the name of your company

If you want your business to be successful, then you should pay attention to the name you choose, because it is one of the great assets of a firm. You should not rush to decide the name, because you do not want to regret it later. You have to make sure that it is different from the ones of existing companies. Also, you should check if you need approval for the name you want. A website like https://www.companyregistrationinsingapore.com.sg/ can offer you all the details you need. When you have it, you can access one of the online websites that help you check if the name is available.

What details you need in order to register the company?

You will have to establish some details when you want to register a new company. You should check the list provided by your local authority, because they may differ from a region to another. You will have to state the name you have chosen for the firm. Also, you will have to provide a registered address, because there you will receive information regarding your company. You should inform the authorities on the purpose of the company, and what activities you anticipate to have. Also, it is important to have information regarding your capital. There are cases when there is required information on who the director and secretary of the firm are.

Wait for approvals

You are not allowed to start doing businesses until your company is not registered. Therefore, you will have to wait for approval from the authorities, because they will have to check the information you have submitted. You have the option to file the registration online, so you should check this option to see if the steps are the same as when registering it the standard way.