If you’ve decided to take the path of entrepreneurship, you should be ready to start your own business. But as you are about to commence it, you’d need to register your business. To do so, keep the following things in mind before proceeding with Singapore company formation:
What’s the Purpose of your Company?
You should have already decided on the purpose of conducting business by now. Deciding on the nature of your business will help you identify your target market, which in turn lets you choose the ideal name for your company.
Selecting the Name of your Company:
Once you have found out your preferred name of the company, there are a few regulations enlisted in The Companies Act, which you should comply with:
- The name shall be in any language and can consist of letters, numbers and punctuation marks.
- The name of the company must not include certain words, symbols or expressions
- Their shall be an abbreviation for the type of the company
Shareholders:
Shareholders refer to the owner of the company and will be the person who benefits from the functioning of the company. If you are registering yourself, you shall own 100% of the shares. If you are working with a partner, you shall discuss and decide on the percentage ownership each of you will own.
Directors:
Directors are necessary to take care of the company’s assets on the behalf of shareholders.
What do you require to Register Your Company?
You will need a certified copy of your identification document as well as the required application forms to begin the registration process.
Hiring a Singapore company registration service is ideal to register your business without any complications and errors.
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