While company registration and incorporation is widely perceived to be the first step in the long process of setting up a business in Singapore, the truth of the matter is, it’s not even close.
First comes address registration. And then, of course, you have to get your business and personal documents in order- company constitution, passport copies, you name it.
Once you’re done compiling all these essentials, there’s still one more thing you have to do before the actual incorporation application. Yes, that’s right- you must register a legal company name.
Don’t let the term “company” throw you off, though. This is a compulsory step for everyone- even partnerships and sole proprietorships are required to register a name with ACRA before applying for business registration.
However, and rather interestingly, it turns out the company registration process is different across the various corporate structures. And so, to help you avoid any confusion here, we’ve outlined the procedure for each business type.
Here are their respective registration steps on ACRA’s portal...
How to Register a New Business Name For a Sole Proprietorship or Partnership
- Access Bizfile: With ACRA being the official registrar of companies in Singapore, the first thing you need to do is access its main web portal, www.bizfile.gov.sg. Proceed to the “eServices” menu option, click on “Business”, and then hit “Application for a New Business Name”.
- Log in With Your SingPass ID: Once the BizFile system prompts you to log in, enter your SingPass ID plus the accompanying password and proceed.
- Enter The Proposed Name and Business Details: You’ll find a form, on which you should type in your business name in the “Proposed Entity Name” field. But, it doesn’t end there. ACRA further requires you to add the accompanying business details in their respective fields-. So, go ahead and enter your intended business activities, as well as your personal information. When you’re done, just click “Submit”, review all the details on the page, and then hit “Confirm”.
- Pay For Registration: Finally, BizFile will prompt you to pay for the application. Simply pick your preferred mode of payment, enter the corresponding card details, then submit everything. That’s all it takes.
How to Register a New Business Name for a Local Company (Private Limited Company)
- Go To The ACRA Registration Portal: The first step, as always, is to access ACRA’s portal via www.bizfile.gov.sg. Then on the home page, go to “eServices”, and choose “Local Company”. BizFile will load its Local Company page, on which you should select “Start a New Local Company”, followed by “Application for New Company Name.”
- Log in With SingPass or CorpPass ID: You can now log in to the system using your official SingPass or CorpPass ID.
- Type in Proposed Company Name: Once you see the checklist page, hit “Next” to proceed to the business name area. BizFile will subsequently prompt you to specify the company type, as well as enter your proposed business name.
- Enter Company Details and Personal Information: With that done, you can move on to the rest of the fields and enter the details about your proposed company activities, as well as the members of the company, their respective positions, and of course, their personal information.
- Pay and Submit: If you’re satisfied with everything, you can click “Submit”, followed by “Confirm”. This will take you straight to the payment area, where you should enter your card details and then proceed to ACRA’s acknowledgment page.
How to Register a New Business Name for a Limited Liability Partnership (LLP)
- Choose Limited Liability Partnership on BizFile: Start by accessing ACRA’s BizFile system via www.bizfile.gov.sg. Then find the “eServices” menu on its homepage, and click on “Limited Liability Partnership”. With that, the system will immediately open its LLP section, where you should click on “Start a new Limited Liability Partnership”, and then proceed to “Application for a New LLP Name.”
- Sign in With Your SingPass or CorpPass ID: When BizFile compels you to log in, enter your CorpPass or SingPass ID plus the corresponding password. That’s all it takes and you’ll be able to access your account in no time.
- Enter Your LLP Name and Company Details: The first thing you’ll see here is a checklist page. Just hit “Next”, and the system will direct you to its name application area. This is where you enter your LLP name in the “Proposed Entity Name” field, followed by your company’s basic details- primary activity, secondary activity, as well as your position and personal info. After filling in all the fields accordingly, click “Submit”, recheck everything in the subsequent preview page, and then hit “Confirm”.
- Pay and Submit Your Info: At the final stage, BizFile will prompt you to pay the business name application fees. So, go ahead and pick your preferred option, enter the corresponding card details, and then hit “Pay Now”. An acknowledgment page will eventually appear to confirm your submission.
How to Register a New Business Name for a Limited Partnership (LP)
- Go To the ACRA Portal: Begin the process by accessing ACRA’s portal via www.bizfile.gov.sg. Once you land on its homepage, go to the “eServices” section and pick “Limited Partnership”. You’ll subsequently be directed to the Limited Partnership page, where you should proceed by clicking on “Start a new Limited Partnership”, followed by “Application for a New LP Name”.
- Log In to Your Account: On the login window that appears, enter your CorpPass or SingPass ID, plus the accompanying password. That will automatically grant you access to your BizFile account.
- Give Out the Name and Company Details: Once you’re in, the system displays a checklist page, which you can skip by clicking “Next”. You’ll then find yourself in the main application area, where you’re required to type in a unique business name in the “Proposed Entity Name” field. You should also specify your company’s details, as well as your position in the partnership. All that should be supplemented with your personal information- including name, address, nationality, identification number, email, etc.
- Pay for Business Name Registration: During submission, the system will take you to its checkout page. This is the point where you select your preferred payment method, and then process the funds to complete the business name application process.
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With these guidelines, you should now find it easy to start your company name application. But then again, you can still make the whole process much easier, and possibly even cheaper. The trick is to simply work with incorporation experts like WealthBridge.