Have you considered changing the name of your Singapore-based company? Remember that this is a serious matter, so don’t take it lightheartedly. To learn that changing the name of your business is not an easy process will not make you pleased. So if you are wondering Can I Change My Business Name After Incorporation in Singapore then here are the things that you can read.
Having said that, it may be necessary to make this change in specific situations
Depending on where you live and what you do, your given name may not be appropriate in today’s society. In certain cases, a name change is the only way to properly brand a company. Because of this, a lot of businesses have been compelled to enter new markets or restructure their operations totally.
Additionally, it’s important to bear in mind that clients’ initial impressions of your Singapore business are formed by its name. In the next stages, they begin to focus more on the presentation’s graphics and visuals.
Choose a new business name that meets the ACRA’s specifications
Because the name of your firm is so closely linked to its reputation, it is imperative that you give it considerable attention. Choosing a name that is both acceptable and compliant with the rules is just as important.
For the purposes of these rules, ACRA is the conforming government body (Singapore Accounting and Corporate Regulatory Authority). If a company name fits any of the following requirements, the Australian Competition and Consumer Commission (ACRA) has the power and will exercise that jurisdiction under Section 17 of the Business Names Registration Act:
The name of a business should not be insulting or religious in nature
Names that have already been reserved by ACRA but haven’t been registered because the business entity that will utilize the reserved company name hasn’t been incorporated are known as reserved business names. In Singapore, the Minister of Finance has issued an order prohibiting the practise of using the same name as a firm.
- Businesses will be allowed to register names that are almost identical to those of already existing companies according to the ACRA. As a result, this is only possible if the other firm goes out of business completely. All commercial activities must be halted and all operations must be halted.
- A specific length of time must elapse before a corporation may register a business name that was previously used by another company that is no longer in existence. The other company’s legal entity type determines the various time periods.
- You may do your own research using search engines to see whether the name you have picked for your new company is similar to one that is already in use by another business (Google, Bing, Yahoo, etc.).
Submit a new company name to ACRA with a new address
Finally, after making sure everything is in order, you may click “Confirm” to go on. The “Exit Preview” option may be used if you want to make adjustments to your design.
The “Pay Now” button should be your last step. The receipt may be found on the last page, which is the acknowledgment page. You should be escorted there by the system.
Resolution of special significance
Changing your company’ name will need a special resolution, if the ACRA approves the proposed rebranding and gives its blessing.
