Starting a business in Singapore is a challenging but worthwhile endeavour. However, before you incorporate your company and start developing your business plan, you will need a suitable name for your enterprise. This name should be appropriate, original, and appealing since your business name plays a crucial role in your brand’s growth and in establishing consumers’ perceptions of it.
While coming up with your company’s name sounds fun and exciting, it can also be challenging at the same time. With numerous businesses established in Singapore, you might find it hard to look for a unique name that matches your requirement. Furthermore, the name needs to align with the Accounting and Corporate Regulatory Authority’s (ACRA) requirements.
However, you would also not want to delay your company incorporation process. So how do you go about resolving this issue? Well, you can consider performing a company name search to ensure your desired brand name is available and does not raise any regulatory concerns.
Why should you conduct a company name search?
Businesses are strongly encouraged to use various tools and resources available to streamline their company name search process. One of the utmost concerns when naming your company is the matter of copyright. By comparing your chosen brand name with other businesses bearing similar names, you can avoid a host of legal issues from the get-go.
Moreover, by performing your due diligence, you can quickly determine whether your chosen company name is still available. In the event it is unavailable, you will still have sufficient time to think of a new name without delaying your company’s incorporation process.
What must you do to get your company name approved?
ACRA is the approving government agency in Singapore that determines whether your chosen company name is accepted. If you want to get your desired brand name approved, you will need to meet the following requirements:
- Your chosen business name cannot be identical to the name of a corporation already registered with ACRA.
- Your chosen business name is neither indecent nor offensive. In particular, you should avoid including religious or obscene words.
- Your chosen business name does not include gazetted names. For example, “Temasek” is prohibited.
- Your chosen business name does not include words that are related to such terms as “National,” “Institution,” and “Singapore.”
- Your chosen business name does not have any trademark attached to it.
- No one else has reserved your chosen business name currently.
How can you improve your company name search process?
If ACRA rejects your desired business name, fret not! With numerous companies incorporated in Singapore, you are bound to encounter a clash in the brand name. Let us share how you can enhance your naming convention to better differentiate your brand from an existing corporation.
What you can consider:
- Adding distinctive words or qualities to your chosen business name
- Expanding your business’ scope of services to your chosen business name, such as including “hospitality” or “hotel” to the name.
- Making use of symbols like “+” as a substitute to the word “plus”
What you should avoid:
- Including “The” at the beginning of your chosen business name
- Inserting your type of business entity at the end of your chosen business name, like “Ltd” or “Pte Ltd”
- Adding a country’s or region’s name at the end of your chosen business name
- Keeping your chosen business name in its plural form
What happens if your desired business name is reserved?
A reserved company name is basically a business name that has already been approved by ACRA but has not yet been registered. There may be a myriad of reasons why the name is reserved, but the business remains unregistered. However, this presents an obstacle if your chosen name is already reserved with ACRA.
Should this situation occur to you, fret not! ACRA only allows a reserved business name to be retained for 120 days. If the company that secured the name stays unregistered after the 120-day period, it can be utilised by other parties.
Moreover, if your desired brand name coincides with that of a company that has already closed down or ceased to exist, ACRA may allow you to use the name of the shuttered business after a specific period of time has passed. If you wish to check on the status of a company, you can conduct a company search on ACRA’s records.
Conclusion
Your company’s brand name can make or break your business. Therefore, it is essential for you to conduct a thorough company name search to guarantee that your company name will not fall short of ACRA’s requirements and your objectives as a business owner.
Once you have decided your company’s name and it has been approved by ACRA, the next important step you should take is to incorporate your business. It is advisable to engage the services of a reliable service provider to ensure the registration process goes off without a hitch.
At Ackenting Group, we understand that entrepreneurs are busy people, so we provide hassle-free company incorporation services to help our clients set up their company reliably and efficiently. We have an experienced team of professionals who will go through every detail to ensure that your business satisfies every incorporation requirement. And with the relevant documentation, we can assist in incorporating your business within an hour.
Additionally, our firm offers a suite of affordable and professional accounting and bookkeeping services to meet your business’s every need. With our seasoned team of accountants overseeing your company’s books, you can rest easy knowing you will receive timely and detailed updates of your company’s performance so that you can stay on top of your finances.
If you require any assistance on accounting services, feel free to drop us an email at johnwoo@ag-singapore.com or contact us at +65-66358767. At Ackenting Group, we offer a complimentary 30 minutes online consultation for us to better understand your business requirements.
