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How To Register A Business In Singapore
Learn how to register a business in Singapore - the easy way. Know what you should prepare, the registration costs, government organizations involved, income tax and more.
For professional advice on company formation, corporate secretarial, accounting and tax planning, and trademark copyright and registration issues, please visit Bizcorp Management, a Singapore Company Registration specialist.
Singapore Business Registration Guide
A step-by-step guide to register your business online.
1) Before You Begin
Before your register your business in Singapore, you should have your:
Business Name - prepare a few in case the one you wanted has already been registered.
Business Address - rented office, private housing or HDB (prior permission required) address.
Nature of Business - select from the list provided.
SingPass ID - to register online.
2) Register Your Business
This step is where you actually register your business online:
a) Proceed to the bizFILE website
b) Login with your SingPass ID.
c) Business Transactions > Business Name Application and Registration
d) Select "Application To Register A New Business"
e) Complete the business registration forms
f) Make the payment, S$65/year for sole-proprietorship
3) Corporate Bank Account
The next step is to open a corporate bank account to receive and make payments. You need the business registration confirmation letter and a minimum S$3,000 to open the bank account.
4) Income Tax
As a sole-proprietor, you would still file under personal income tax to IRAS. Based on your income tax statement, CPF will specify the amount that must be contributed to your Medisave account - this is mandatory and will be checked by CPF. Other CPF contributions are subject to your own preference.
Source: Bianca Polak, Freelance Consultant
Before your register your business in Singapore, you should have your:
Business Name - prepare a few in case the one you wanted has already been registered.
Business Address - rented office, private housing or HDB (prior permission required) address.
Nature of Business - select from the list provided.
SingPass ID - to register online.
2) Register Your Business
This step is where you actually register your business online:
a) Proceed to the bizFILE website
b) Login with your SingPass ID.
c) Business Transactions > Business Name Application and Registration
d) Select "Application To Register A New Business"
e) Complete the business registration forms
f) Make the payment, S$65/year for sole-proprietorship
3) Corporate Bank Account
The next step is to open a corporate bank account to receive and make payments. You need the business registration confirmation letter and a minimum S$3,000 to open the bank account.
4) Income Tax
As a sole-proprietor, you would still file under personal income tax to IRAS. Based on your income tax statement, CPF will specify the amount that must be contributed to your Medisave account - this is mandatory and will be checked by CPF. Other CPF contributions are subject to your own preference.
Source: Bianca Polak, Freelance Consultant
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