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The Business Registration Law in Serangoon, Singapore is primarily governed by the Singapore Companies Act. The process involves submitting the necessary documents and information to the Accounting and Corporate Regulatory Authority (ACRA), the national regulator of business entities and public accountants. It is important to ensure compliance with the Companies Act of Singapore and other relevant legislation such as the Goods and Services Tax (GST) Act when planning to register a business in Serangoon, Singapore.
Understanding and navigating through the business registration process can be complex, especially for new entrepreneurs. A lawyer can guide you to ensure compliance with all requirements, help avoid delays, penalties or potential legal issues in the future. You may need a lawyer to understand the legalities involved in the registration process, help in drafting and reviewing contracts and agreements, and advising on various legal aspects of running a business such as employee rights, tax obligations, and intellectual property rights.
Key aspects of the local laws that are relevant to Business Registration in Serangoon, Singapore include the necessity of having a Singapore-based company director and providing a local registered business address. Foreign individuals or companies, are required to hire a professional firm to register a company on their behalf. If your proposed business involves regulated activities, additional approvals from relevant authorities may be required. Compliance with Goods and Services Tax (GST) Act is mandatory if your company's annual turnover exceeds SGD 1 million.
The process can be quick, often completed within a day if all required documents are prepared and application forms filled out correctly.
Yes, foreigners can register a business in Serangoon, Singapore. However, they are required to do so through a professional firm.
Yes, a local registered business address is a requirement for registering a business in Singapore.
The main types of business entities in Singapore are Sole Proprietorship, Partnership, Limited Partnership, Limited Liability Partnership, and Companies.
Yes, a single person can register a private limited company in Singapore. In fact, a company can have a minimum of one shareholder and one director, and they can be the same person.
The Accounting and Corporate Regulatory Authority (ACRA) is the national regulator for business entities in Singapore and is a valuable resource. Additionally, the Inland Revenue Authority of Singapore (IRAS) provides information regarding tax obligations for businesses.
If you need legal assistance in Business Registration, it is advisable to engage with a reputable law firm that specializes in corporate law. Before consultation, ensure to prepare all necessary documents and questions you might have regarding the registration process. Always keep abreast with ACRA's requirements for newly registered businesses to ensure continued compliance.
