Choosing the right company name is a crucial first step when starting a company in Singapore. It’s essential to ensure that the name you select is unique and complies with the requirements of the Accounting and Corporate Regulatory Authority (ACRA). This article will guide you through the process of checking the availability of your desired company name and outline important considerations when doing so.
Overview:
- The Importance of Company Name Checks in Singapore
- Steps to Check Your Company Name Availability in Singapore
- How To Change Your Company Name
- You might also be interested in
The Importance of Company Name Checks in Singapore
Before you register your business in Singapore, it’s critical to verify that your preferred company name is available and compliant with ACRA regulations. Choosing the right name helps you speed up the registration process by a long shot.
Once your name application is approved, ACRA will reserve the name for 120 days. If you don’t register your business or incorporate the company within this timeframe, the reservation will expire, and the name will become available for others to register.
In some cases, name applications may need approval from Referral Authorities. For instance, if your proposed business name contains the word “school,” it may be referred to the Ministry of Education. The processing time for these referred applications can range from 14 to 60 days.
Changing your company name after registration will trigger the entire name approval process (and included fee) again. This means you will have to submit a new name application, which could delay your operations and incur additional fees. Therefore, choosing the right name from the start is essential to avoid these complications.
Steps to Check Your Company Name Availability in Singapore
Step 1: Some considerations before choosing a company name in Singapore
ACRA will refuse a business name application if it is:
- Identical to an already existing business
- Identical to an already reserved name
- Undesirable
- Prohibited by order of the Minister for Finance
For more details on points 1 and 2, continue reading Step 2. For guidelines on points 3 and 4, you can refer to the detailed instructions on ACRA’s website or download the guide directly here.
Step 2: Name research on Bizfile+
There is a shortcut to check if your chosen name is not yet taken or reserved. It is to do a search on ACRA’s Bizfile+ website.
After running the search, the system will display a list of names that are identical or similar to your chosen name. This helps you quickly identify any potential conflicts and decide whether to adjust your proposed name to avoid rejection.
Step 3: Once you have chosen an appropriate company name, register and incorporate your company!
Congratulations, you’re almost there! Now that you’ve checked your name, you can proceed with the business registration process in Singapore.
At MyBusiness in Asia (MbiA), our team of dedicated professionals is here to assist you with incorporating your company entirely online. If you’re looking for a reliable corporate secretarial service provider in Singapore, you’ve come to the right place! Contact us today for an instant callback and let us help you get started!
How to change your company name
Once you register a name for your company, there’s still optional for you to change it. MyBusiness In Asia has already posted another article providing guidance of how to change your company name.
You might also be interested in
- What is ACRA in Singapore?
- What is SSIC in Singapore?
- What is Bizfile+ and how to use it?
- What are the tax benefits of incorporating in SG?
