Picking a name is important when registering company in Singapore

 

It’s largely agreed on that registering a company in Singapore is a smart move. The question now is why. Well, the explanation lies in the fact that the Lion City is a business hub. Equally important is mentioning all the tax benefits that entrepreneurs enjoy. For instance, did you know that you don’t have to pay capital gains tax or that you enjoy various deductions? If you did, you would have already opened your own company. There’s no need to threat. You have all the time in the world to have a Singapore registered company. One of the key steps in registering your business in the Lion City is choosing the business name. Many entrepreneurs falsely believe that the company name isn’t that important. Of course, it’s important. The name your business organization bears determines your success. Continue reading in order to learn more on the subject.

Company name is just as important as its purpose

If you’re like most people, then you’re probably under the impression that it doesn’t matter what name your Singapore company has. What’s important is for it not to be identical to something else. This is where you’re wrong. A business name helps you stand out from the crowd. But aren’t product and customer service supposed to help you achieve this goal? Yes, but understand that they aren’t enough; not in the competitive marketplace of the Lion City. The first thing that people come across is your company name and if the first impression isn’t a good one, your chances of succeeding and, consequently, making profit are null. All successful businesses have this thing in common: they have names that reflect the company and its purpose. Still think that the name isn’t worthy of your attention?                                                                                                                      

Choosing the right name for your company in Singapore

In Singapore, you can’t start the registration process if you don’t have a company name. Singapore company incorporation consultants Pte Ltd will confirm that. No matter what choice you make, the name has to be approved by the referral authority. What to choose, what to choose. The decision isn’t an easy one. While there are plenty of options, you’ve got to make sure to pick a name that people can’t forget.  A funny name won’t create a positive impression; on the contrary. A religious name is out of the question, but so is an offensive one. The good things is that there are tricks you can resort to. Besides playing around with words, you can use a name generator. Another thing you can do is trust the advice coming from company incorporation consultants.

Get approval from ACRA

You can’t do anything if ACRA, that is the Accounting and Corporate Regulatory Authority doesn’t approve. Once you’ve decided on a name for your business organization, you have to visit their headquarters. Attention needs to be paid to the fact that only the business owner is able to do this. If you don’t have that much time on your hands, know that you’re able to send an online application. Just make sure that you complete it carefully.