23 May 2024
Editor: ET
Starting a new business in Singapore involves several key steps, including submitting your application to the Accounting and Corporate Regulatory Authority (ACRA).
This guide, with insights from Expede.com.sg, walks you through the process of submitting your application via Bizfile+, ensuring a smooth and efficient incorporation process.
Preparing for Your ACRA Application
Before you begin, gather all the necessary information and documents required for the application. This includes details about the company's directors, shareholders, company secretary, and registered office address. Ensure you have your Singpass credentials ready for logging into Bizfile+.
Step-by-Step Application Process
1. Logging into Bizfile+
Log in to Bizfile+ using your Singpass. This secure login method is essential for accessing ACRA’s eServices.
Insight from Expede.com.sg: Make sure your Singpass is active and that you have all relevant information at hand to avoid delays during the application process.
2. Navigating to the Application Form
Under the eServices menu, select “Local Company” followed by “Start a New Local Company”. Then, click on “Application for New Company Name” and complete the form with your proposed company name.
Expede.com.sg Tip: Choose a unique and relevant company name to increase the likelihood of approval. Use ACRA’s online tool to check name availability beforehand.
3. Completing the Application
You have the option to apply for the proposed company name and incorporate the company in a single application, or to do it in two separate steps.
Single Application: This option is faster and involves submitting both the name application and incorporation details at the same time.
Two-Step Application: If you prefer to complete the name application first, you will receive a transaction number upon approval. Use this number to proceed with the “Incorporation of Local Company” transaction.
Recommendation from Expede.com.sg: The single application process is more streamlined and can save time, but the two-step process offers more flexibility if you need additional time for preparations.
Endorsement by Appointed Officers
Once your incorporation application is approved, Bizfile+ will send an email to the appointed officers (directors, shareholders, and company secretary) to request their endorsement. They can access this email from their personal dashboard in BizFile+.
Important: All appointed officers must endorse their appointments in BizFile+ within 60 days from the date of the email. Failure to do so will result in your application lapsing.
Expede.com.sg Advice: Promptly inform your appointed officers to check their emails and endorse their appointments to avoid delays.
Application Fees
Name Application Fee: $15
Company Registration Fee: $300
You can pay using various methods, including credit/debit card (Visa, MasterCard, American Express), PayPal, Apple Pay, or Google Pay.
Insight from Expede.com.sg: Ensure your payment method is ready and funds are available to avoid any interruptions during the application process.
Final Steps
After all endorsements are completed and fees are paid, ACRA will process your application. Upon successful incorporation, you will receive an official email confirmation and your company’s registration details.
Expede.com.sg Insight: Keep a copy of all correspondence and documents related to your application for future reference and compliance purposes.
Submitting your application to ACRA is a critical step in incorporating your business in Singapore. By following this step-by-step guide and leveraging the insights from Expede.com.sg, you can ensure a smooth and efficient process. For further assistance and expert advice on business incorporation, visit Expede.com.sg.
About Expede.com.sg: Expede.com.sg provides expert advisory services for business incorporation and regulatory compliance in Singapore, helping entrepreneurs navigate the complexities of starting and managing a business.
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