When you start your own business, it is crucial to make sure that you protect your intellectual property and know-how to register business singapore. It is no easy feat, as registering a company in Singapore can be confusing and intimidating. However, if you plan it well and organize it a little, the process will be much easier.
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If you want to start a business in Singapore, you must obtain a business registration number (BRN). This is important because your business will not be able to function without it. In addition, you will not be able to access essential services such as banking services and working capital grants.
Here are three tips everyone should know about registering their business in Singapore:
1. You need to choose a business name
The name of your business should not be identical to an existing company, as this can create serious legal issues. This is why you need to take the time to choose a name that you can register and ensure that it is not too similar to any business name that is currently registered.
Take time to come up with a name that is unique and easy to remember. If the name you choose is not memorable but must be easy to pronounce and spell, it will not be easy for your customers or clients to find.
2. You need to register your business
You need to do two things when registering your business in Singapore. You need to apply and obtain a business registration number, the BRN. Your company must also be registered with the Accounting and Corporate Regulatory Authority (ACRA). This is because your company must have a bank account to facilitate your business, arrange working capital and receive tax benefits.
To apply for a business registration number, you will need to visit the ACRA office in Singapore. You should be prepared with all the necessary documents when you go.
3. You need to obtain a trading number
Another thing you need to do when registering your business in Singapore is to obtain a trading number from the Accounting and Corporate Regulatory Authority. This is also known as a TIN. It will allow your company to trade and register for certain kinds of businesses. You will only be allowed to apply for one, so choose carefully.
Once you have the BRN, TIN, and company registration number (CRN), it is essential to register your business at the Accounting and Corporate Regulatory Authority. You should also apply for a bank account for your business.
You will only be allowed to register one business name, so choose carefully. You will have to visit the Accounting and Corporate Regulatory Authority office to apply for a business registration number. You should be prepared with all the necessary documents when you go.
You will also have to visit the Accounting and Corporate Regulatory Authority office again to register your company. You will be required to provide the company registration number (CRN), and then you will have to fill out an online form.
Keep all of this in mind as you begin your business journey in Singapore.