Both local and foreign entrepreneurs have the same rights when it comes to setting up a company in Singapore. They are also allowed to amend various documents related to their companies, such as the Articles of Association, as well as to bring other changes to their businesses.
There are various types of changes which can be brought to a company and all of them must be announced with the Accounting and Corporate Regulatory Authority and the Inland Revenue Authority in Singapore. There are also situations in which other authorities must be informed about the changes brought to a company.
One of the most often met changes is the company name replacement once the Singapore company has suffered various alterations, such as a change in the company structure or if the business has undergone a merger or acquisition.
If you want to change your company’s name, our Singapore company formation consultants can guide you through the procedure.
There are various reasons to change a company’s name, apart from the ones mentioned above. The Singapore Company Law provides for several reasons for changing the trade name, including when the shareholders of the company plan to rebrand the company or if the company has expanded and wants a more appropriate name in accordance with its new status.
Our local advisors can also help if you want to open a company in Singapore.
Even if changing a company’s name is not complicated, the process must still follow a few steps. These steps consist of:
It should be noted that a special resolution must be passed by the Singapore company’s shareholders when changing the business’ trade name.
As mentioned earlier, the new company name must comply with specific criteria as imposed by the law. These criteria imply:
Our company registration agents can help foreign business owners in choosing appropriate names for their local companies. We can also help if they want to open a company in Singapore.
One of the most important steps in changing the company name in Singapore is Extraordinary General Meeting of the shareholders in which the resolution for replacing the old name of the business must be passed. They will have to pass a special resolution in order to change the company name.
The steps for this procedure imply:
Once the resolution was passed, the notification must be filed with ACRA in maximum 14 days.
Changing a Singapore’s company name is not complicated, as the only documents needed to complete the procedure imply to submit the company’s Memorandum and Articles of Association, the resolution passed by the shareholders and the original application first filed with ACRA.
The documents can be filed by the Singapore company secretary. Our Singapore company formation consultants can complete the procedure of changing the trade name with the Trade Register on behalf of our clients.
Once the procedure of changing the company’s name has completed, ACRA will issue a certificate for the name change. Then, the company will be required to make the amendments to various documents the company usually issues, to the letterhead, the company’s seal and the stamp. The new company name must also be announced with all tax authorities in Singapore.
The whole procedure of changing a company’s name takes one week.
For assistance in changing the company name, please contact us. We can also help if you want to open a company in Singapore.