A Certificate of Incorporation is a legal document issued by the registrar of companies (Accounting and Corporate Regulatory Authority (ACRA) in Singapore) upon registration of a company. The certificate asserts that the company has been formed/ incorporated on the stated date and fulfills all the regulatory requirements for company formation and vouches for its distinct legal identity which is separate from that of its owners.

What Information is Contained in the Certificate?

The Certificate of Incorporation contains the following information:

• Name of the company
• Registration number/ Unique Entity Number (UEN)
• Date of incorporation
• Nature of the entity – private limited or public limited etc.
• The former names of the company (if applicable and up to five recent former names, does not reflect name changes effected before January 2003).

Why is the Certificate of Incorporation important?

The Certificate of Incorporation is typically required when the company is entering into any trading agreements, business contracts, or involved in a transaction with overseas government or agencies of the government, the transacting parties may require the certificate as proof of existence and nature of the entity. However, as most public registers are now electronic and made available online, the transacting parties performing due diligence are increasingly checking the status of the entities online in the registrar’s public register of companies.

Read more about Certificate of Incorporation at Rikvin.com.

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When thinking about becoming an entrepreneur, you look to the success of veteran or celebrity entrepreneurs, wondering what pushed them towards success.

If you were to examine successful entrepreneurs, you will notice that they share characteristics that enable them to create goals and achieve them efficiently. This is because they understand what they want out of life and design the habits and strategy that allows them to accomplish whatever they put their mind to.

If your goal is to become a successful entrepreneur, developing the 5 following habits will change your mindset and therefore, your ability to achieve your goals.

Start Your Day Early

First things first, you cannot get up at 12:00pm and expect to get much done – the majority of your day is gone, and the daytime is the best time to be productive.

Successful entrepreneurs wake up early so that they can make the most out of their productive hours. Waking up early allows one to get more done in the early hours than the average person does in their entire day.

Most successful entrepreneurs wake up between 4-6am. Since most people are not up at this time, they have the ability to focus on their most important tasks, without having to deal with numerous distractions.

Waking up early will be extremely beneficial with regards to your success as an entrepreneur. More hours of productivity means that you can accomplish a tremendous amount of work, making both your short-term and long-term goals more attainable. By waking up early, you enhance your efficiency and effectiveness, both of which are qualities that play a major role in the success that entrepreneurs experience.

Stay Alert With Opportunities

Successful entrepreneurs are always looking for an opportunity to turn a skill set or experience into revenue or a product. Whether it be an existing market that has products and services that are lacking, or the opportunity to be the first to innovate, these people look to capitalize on anything that is open for new entry.

You must always think in terms of a producer – what is something that you can provide that people will be willing to pay for on a consistent basis or for a premium price? This means that you have to constantly study the marketplace to understand the needs and wants of consumers.

Before going all in on your idea, test your product or service amongst a small group of users so that you can produce the best offering possible. Business is all about getting a high ROI for your efforts, so you must decrease the risk you take on as much as possible.

Stay Proactive

As an entrepreneur, too much planning and contemplation will hold your business back from experiencing growth. If you make a plan, it must be followed up with actions that lead to execution. There is nothing worse than making plans as an entrepreneur that are never accomplished. For all your big talk and aspirations, they must be followed up with hard work that is guided by an effective strategy.

Staying proactive with your entrepreneurship idea will not only help keep the business alive, but will keep your brain active enough to keep evolving your business. Taking too many breaks, or worse, never acting on your business idea, will not result in anything. Waiting for an opportunity to fall into your lap is too risky a game to play, especially if you truly believe your idea has the potential to make major profits.

Keep Money on Your Mind

Sales is what successful entrepreneurs think about every single day. How many customers they have, how much money is being made, are forecasted goals being met – these are the thoughts that push successful entrepreneurs to work extremely hard. And when money is made, they want to keep as much money as possible, so finances are a very important factor also.

As stated previously, your main priority is producing consistent sales. Gain as much knowledge about selling as possible and build up a team of quality salespeople. You want your business to generate money so that it can be recognized as an actual business. As you grow, invest in a CPA to ensure that your money is being managed properly and used to increase further growth.

Implement these traits into your behavior and you will position yourself to become a successful entrepreneur. Remember, success is a process of actions combined together to produce results.

Read more : The 5 common traits of successful Entrepreneurs

As far as launching a new business is concerned, Singapore continues to be a favourite for both local and foreign entrepreneurs. The country has been consistently rated as the best for starting a company in its Doing Business Report by the World Bank Group for the tenth consecutive year. Some major factors that make Singapore an appealing destination to set up a business include quick registration process, SGD 1 minimum share capital requirement, strong economy, zero capital gains tax, low tax rates, excellent infrastructure, and several interesting government schemes and subsidies. Also, the Accounting & Corporate Regulatory Authority (ACRA), a body responsible for the regulatory environment of business establishments, oversees the company registration process in Singapore. Launching or registering a company in Singapore is quick, if done systematically. This article provides step-by-step instructions to register a company in Singapore, in a simple and systematic manner.

Steps to Register a Company in Singapore

Step 1: Finalize the Establishment Type

First and foremost decide on the legal structure that is ideal for your business, keeping in mind the tax benefits. In case of a Private Limited Company establishment type, you need to consider the higher registration cost, complex compliance requirements post registration, and risks involved. A Private Limited Company establishment type is recommended to businesses that involve higher risks, long-term plans, and high profits. On the other hand, Sole Proprietorship is ideal for a small business with minimum risk factors and less post-registration compliance requirements. Another option is Limited Liability Partnership (LLP), where the funds and resources are provided by two or more partners. The chargeable profits of Sole Proprietorship and LLP will be accessed as per the owner’s income and subjected to personal tax rates. Although a Private Limited Company attracts more investors and provides better financial options, the existing compliance cost for this entity is higher compared to that of Sole Proprietorship or Limited Liability Partnership Company. Go through the registration process for a Private Limited Company before finalizing the establishment type.

Step 2: Finalize a Company Name

Naming your business can be quite an exciting affair. However, we suggest you choose a name that is relevant to your business. While deciding names, be mindful not to use undesirable names or those that are identical to other companies.  After you shortlist probable names, check if they are available or already taken up by other companies. An easy way to check if the name you have chosen is still available is by using the Singapore Company Name Checker Tool. After short listing the name, apply for approval with ACRA. In case there are no discrepancies and the selected name meets all requirements mentioned in the guidelines, it will be approved immediately. To avoid delay in the registration, we request our clients to provide two additional names apart from the preferred one.

Step 3: Keep the Necessary Details Ready

Keep the following list of items ready before proceeding with the registration process.

 • ACRA approved company name
 • Brief description of business activities
 • Personal identification and address details of at least one resident director in your company
 • Personal identification and address details of shareholders
 • Local company office registered address
 • Details of the appointed Company Secretary
 • Paid-up initial capital of minimum SGD 1

Step 4: Register a Singapore Company

After ACRA approves the name of your company, the next step is to register your company. Submit the duly signed application form along with relevant documents and registration fees. If all your documents are in order, the Registrar will approve the registration within one working day. However, if additional information or documents are needed, then the registration process might take longer.

Step 5: Issuance of Certificate of Incorporation

On approval of your registration application and completion of the Singapore Company incorporation, you will receive an official email notification containing the Certificate of Incorporation along with the company’s registration number from ACRA. For a hard copy, place an online request to ACRA along with a payment of SGD 50 per copy. You can collect the hard copy from the ACRA office the next day. Post incorporation, your company will receive a Business Profile, a PDF document, containing vital information like company name, registration number, previous names for company, if any, incorporation date, principle activities, paid-up capital, registered address, shareholder details, director details, and company secretary details.

Step 6: Post Incorporation Tasks

Post incorporation, the company must ensure that the following are in order:

 • Shareholders’ share certificates
 • Share register containing details of shares allotted to each of the shareholders
 • Company seal
 • Company rubber stamp

Step 7: Opening a Corporate Bank Account

Opening a corporate bank account in Singapore is a quick and simple process. Singapore offers a huge choice of banks that include international as well as regional banks. Due to the strict international regulatory regime, we suggest that you are physically available to open your corporate bank account. However, if it is not possible for you to be physically present, we will guide you through your corporate bank account opening process. Click here for more details and documents required for opening the bank account. 

Step 8: Get a Business License

All businesses need a license to operate. Some businesses may even need more than one. After receiving Certificate of Incorporation, you must apply for your company license with the concerned government agencies.

Step 9: GST Registration

All companies with annual revenue above SGD 1 million must register for the Goods and Service Tax (GST) with the Inland Revenue Authority of Singapore (IRAS). Companies with annual revenue below SGD 1 million need not register. GST is charged on goods and services sold to clients, which is then remitted to the tax authorities by the company. 

Step 10: Filing Annual Returns

It is mandatory for Singapore registered companies to prepare their annual financial statements in accordance with the Financial Reporting Standards of Singapore. They also have to file the Estimated Chargeable Income (ECI) form with Inland Revenue Authority of Singapore (IRAS) within three months of the financial year-end. Apart from this, the company must also file annual returns with ACRA within a month of its Annual General Meeting, which must be held once every calendar year.

All the steps mentioned above must be executed systematically. To avoid penalties and prosecution, it is advisable to appoint a corporate service provider to handle your company’s annual filing and ongoing compliance obligations.

The biggest fear and worry of any businessman across the world is tax. If one has ever tried to file tax in a business, he would understand the dire need of help required to accomplish this cumbersome task. Understanding the various rules of taxation, finding the slab you fit in, estimation of the amount of taxes the business is liable to pay, and following all the procedures in the right manner are some of the acts involved in tax filing. But there is no need to be scared, as FM Accounting & Consultancy will guide your way out through this labyrinth of taxes by making GST registration Singapore easier for you.

With FM Accounting, you can be leave all the tax related work in their hands and be assured that your business will not have to suffer any kind of consequences with best advices. The financial advisors at FM Accounting & Consultancy are well versed with GST registration Singapore and give you the best help in all the matters concerning the niche of tax. Tax filing would not have been easier ever.

Tax is a later stage of a business, but if you need help in the steps that precede it, FM Accounting & Consultancy offers all kinds of services and give you all what your business may require. If you are seeking help for company register Singapore, even then FM Accounting is the best to go to. They will trace the path that your business needs to follow for success and make sure that it gets a smooth beginning. Registration is the primary step, and if it is disturbed by any means, then the foundation of the company is shaken. Legal advisory services from FM Accounting & Consultancy will affirm that it doesn’t happen.

It has always been a matter great priority for any businessmen all over the world to find the best location and area where the prospect for growth and development is very high. It is indeed a very true fact that the location plays a very important role in the success or failure of a business and setting up a business which is connected to an international market helps any businessmen to a very great extent. The most beautiful island city Singapore has always been recognized as one of the most renowned business centers of the world with many other businesses and MNC’s operating in the city and from the Singapore very successfully for many decades. This trend actually attracts many people from other countries to visit Singapore and start a new business. As a company we are one of the most prominent and recognized in the market of Singapore and our main services include in assisting and helping our clients from different countries and cities to successfully incorporate company in Singapore and it requires the help of professionals since the Government Singapore requires various formalities and procedures to be fulfilled and these rules and regulations are mandatory.

Besides that it has been many years that we have been serving in the market of Singapore and have gained a very high reputation and also greatly appreciated by all our clients due to our dedication and success. We also avail the most efficient and professional corporate secretarial services Singapore and having a very great understanding about the high demands and standard of the corporates we work accordingly. It is always our first priority to deliver the most unique and outstanding services and we never compromise with the quality of our work and we believe in maintaining a very good reputation and relationship with all our clients and customers.