Selecting a name for your business that is distinctive and appropriate for the organization is crucial because it gives customers their first impression of it and helps set it apart from rivals. Giving it some extra thought might make all the difference as your business expands.
During incorporation of company in Singapore, you must first apply to the company registration ACRA for approval of the name of your business. A company name that follows the ACRA’s regulations may be approved in less than an hour.
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Check ACRA entity
Checking that the selected company name complies with ACRA requirements and the Companies Act’s regulations is the first step in choosing a company name. In Singapore, the ACRA is the designated entity for approving company names. The ACRA’s guidelines provide a window into how the organization approaches the registration of company names.
When selecting a name for your Singapore entity, consider the following if you do not want your name application contested.
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Check availability
It would help if you verified that the name you have chosen for the incorporation of a company in Singapore is available after reading ACRA’s criteria and making a decision. You can use our firm name search tool or the BizFile interface to search. In the search bar of either of these tools, enter the entire name you wish to verify, then click the “Search Name” option.
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Primary & secondary motive
When completing your application, you must list your company’s principal and secondary operations and the motive behind incorporation of the company in Singapore after registering your company name.
You can look up the Singapore Standard Industrial Classification (SSIC) code to identify your business activity.
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Reservation of the name
The name of your business will be reserved for 120 days after the government body has approved your application for it.
The name will be available to the public for their company’s name registration if you fail to incorporate it or register your firm within 120 days.
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The process of name approval
Applications for name approval are submitted electronically to ACRA, the Singapore company registry. Your name application will be accepted swiftly, in less than an hour, provided the name of your new Singapore company complies with ACRA’s rules. The Referral Authorities may be asked to approve some name requests. The processing period in this situation could range from 14 to 60 days.
You must identify your company’s core and secondary business operations throughout the name application procedure and select the best Singapore Standard Industrial Classification (SSIC) code to describe your line of work.
Reasons why ACRA could reject your name suggestions
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Ensure that the name does not hurt any sentiment.
ACRA will reject a company name that is vulgar, insulting, obscene, or hurtful to religious emotions, so please be careful.
The name should not offend any caste, ethnicity, or religion because Singapore is a multiracial nation.
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Do not use prohibited words.
Please check to be sure the Finance Minister’s decree does not prohibit the name you choose. It includes “Temasek” and other names that you may check on the ACRA website by reading their Policy Statement on TREATMENT OF BUSINESS NAMES AND NAME COMPLAINT APPLICATIONS and their thorough instructions for name selection.
Even though they do not fall under the requirements for Singapore company name restrictions, certain words, like “bank,” “insurance,” “university,” and “education,” are rigorously used by government authorities and will need authorization before you can start a new business.
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Avoid identical existing business names.
As ACRA does not permit the registration of two identical company names, your business name application will be rejected if a similar or same name is already reserved for an existing business.
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Avoid identical reserved business names.
Ensure the company name you choose isn’t the same as one that ACRA has already approved but hasn’t fully registered since the corporation’s incorporation is still pending. In this case, if incorporation of the company is not completed within 120 days, ACRA will release the name for public registration, at which point you can choose the name.
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Can you change an already existing business name?
Any current Singaporean corporation can have its name changed. Although the regulatory process is simple, you should not rush into this decision because you might already have a successful brand with the current name. Upgrading your website, email systems, marketing/sales/operational documentation, and alerting banks, clients, suppliers, and other parties will be time-consuming after changing the name.
Conclusion
For every incorporation of a Register company in Singapore, you must first have your company’s name registered with ACRA to be incorporated. It is crucial to conduct thorough due research before filing a name application to lower the chance that it will be rejected or a subsequent name complaint will be made against your company name. To ensure that the selected name of your company does not get taken by someone else, it is best to select a distinct name and reserve it as soon as possible.
