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Tanjong Pagar, located within the Central Business District in Singapore, is governed by national law regarding business registration. It is mandatory for every business, from small start-ups to major multinational corporations, to register with the Accounting and Corporate Regulatory Authority (ACRA) of Singapore. The regulatory framework ensures that business activities align with the local and national business policies and objectives. This allows for tracking economic growth, promoting transparent operations, and contributes to the ease of doing business in Singapore.
Engaging a lawyer during your process of business registration can be valuable to navigate the complexities of business legislation. Businesses may require legal guidance in understanding specific licenses, choosing appropriate business structures, ensuring the right taxation regime, and dealing with contracts, leases, and regulations. A lawyer with expertise in Singapore's business law can provide accurate advice and ensure compliance, protecting the business from potential legal consequences.
Businesses in Tanjong Pagar, like elsewhere in Singapore, must adhere to the Companies Act and Business Names Registration Act. They require businesses to go through a company name approval process, define the primary activities of the business, and provide information about business owners and directors. In addition, depending on the nature of the business, additional licenses and permission from corresponding governmental bodies might be required.
Yes, foreigners can register a business in Singapore. However, they typically need to appoint a locally-resident director and may require a Singapore work visa.
The primary steps for business registration include choosing and securing approval for the business name; defining the business activity; providing the registered address; and providing details of directors, shareholders, and company secretary.
While the ACRA often approves the business registration within a few hours, the overall process can take a few days to weeks depending on factors such as the nature of the business and the required licenses.
Yes, you are required to provide the local registered business address during the registration.
Failing to navigate the process correctly can lead to delays in your registration approval, legal complications, potential fines or penalties, and could negatively influence your business's reputation.
The Accounting and Corporate Regulatory Authority (ACRA) and Enterprise Singapore are two primary governmental agencies related to business registration. Additionally, the Singapore Business Federation and the Singapore Chamber of Commerce and Industry provide valuable resources and networking opportunities for businesses.
If you need legal assistance with business registration, consider hiring a lawyer experienced in Singapore's business laws. They could help you navigate the complex legal landscape, ensure a smooth registration process, and provide guidance for understanding implications of different types of business structures, licenses, and regulations.
