Among the strongest reasons for investing in Singapore is the easiness of starting a business here. An individual seeking to open a company in Singapore will usually take this aspect into consideration. While the preparation of the incorporation documents is regarded as the most important step for opening a company in Singapore, the first step is to select a company name. To be more precise, one must choose three company names and submit them for approval with the Accounting and Corporate Regulatory Authority in the city-state.
It is important to know that a foreign entrepreneur is required to choose three company names for reservation: the first will be the preferred name and the other two will be the backup, in case the first choice has been taken by another Singapore company. Our formation agents who can also help you open a company in Singapore present the restrictions related to the company name reservation procedure in Singapore:
Company name reservation in Singapore is completed online.
Foreign investors must appoint Singapore company formation agents in order to handle the company registration and name reservation procedures. Once the name has been approved by ACRA, the owner will be notified. An important aspect to know is that the company name has a 60-day validity period. This time frame can be extended for another 60 days by filing a request with ACRA. Once the company name has been reserved, the registration procedure may continue.
For assistance with the company name reservation and the other steps needed in order to open a company in Singapore, please contact our consultants. Our company incorporation experts can also assist you with the licensing procedure.