If you’re looking at how to register a company name in Singapore then there are several mistakes you should avoid to save yourself both time and money. One small mistake may mean you have to restart the whole process, putting you weeks behind in terms of getting started and running your operations.
Your business name is extremely important and therefore you should always spend time choosing the right one. This is certainly the case in Singapore, in which the business market is extremely popular and therefore company names can be hard to come by.
So, where should you begin?
All names must be approved by the Accounting and Corporate Regulatory Authority (ACRA), who will decide whether or not a new business name can be accepted. They will consider things such as whether or not the name has already been used, if it is similar, identical or phonetically the same or whether or not there are any copyright infringements. Certain names are also subject to control and regulation by other Governmental bodies and therefore will need permission before they can be used. These names include “bank”, “insurance”, and “education”. If you operate in one of these niches and you’re not sure whether or not you would need such a name, you can consult a Company offering Singapore company registration services. They can provide you with professional advice as to whether or not you need these words in your company name or not.
According to the Accounting and Corporate Regulatory Authority (ACRA), there are 3 main factors that will be considered during the consideration of your company name. The name will be rejected if the name you have chosen comes under any of the 3 titles below:
a) identical to another;
b) undesirable; or
c) of a kind the Minister has directed the Registrar not to accept.
Due to these factors, it is extremely important that you are cautious when selecting a name that is similar to another business as the Registrar may ask you to change your company name if another company were to file a complaint within the first 12 months that you register.
How Name Checks Are Conducted
Every name that is sent to the government will undergo the same check in order to determine whether or not it is identical to another. All of the following is disregarded when it comes to determining whether or not a name is similar to another:
“The”, where it is the first word of the name;
“Private”, “Pte”, “Sendirian”, “Sdn”, “Limited”, “Ltd”, “Berhad” and “Bhd”;
the following words and expressions where they appear at the end of the name:
“company”, “and company”, “corporation”, “Incorporated”, “Asia”,“Asia Pacific”, “International”, “Singapore”, “South Asia”, “South East Asia” and “Worldwide”;
any word or expression which, in the opinion of the Registrar, is intended to represent any word or expression in sub-paragraph (iii); (v) the plural version of the name; (vi) the type and case of letters, spacing between letters and punctuation marks; and
the symbol “&” is deemed to have the same meaning as the word “and”.
Tools For Finding The Best Name Options
In order to improve the chances of having your company name application approved by the ACRA, there are several tools that can be used to help find the ideal name option. One such tool is a Company Name Check, which can be used before you submit your name application for official approval. These name checks will quickly scan all business names in Singapore to determine whether or not your choice will be accepted. You can also conduct your own research via Google, which will inform you of the availability of your chosen name.
How To Find Similar or Identical Company Names
Nobody wants to spend hours of their life trying to decide on a business name, only to find that it’s already been taken. This is why taking a proactive approach is essential before submitting your name application. Here are some tips you can use to search for similar names.
1 Look For Combinations
If your company makes use of letters, then you should always consider the different combinations that can be used. For example, if you were to name your business CD Trading, you can search for any of the following: CD, C D, C.D, D.C, D-C D&C etc.
2 Look For Different Sequences
Although your business name is taken in one format, there may still be several other sequences you can use that will be accepted by the ACRA. For example, if you wanted to call your name “Discount Shoppers” you could consider “Shoppers Discount”, “Discount-Shoppers” or “Shoppers-Discount.” Look at the sequences available and see if any apply to your business.
3. Avoid Using Punctuation To Differentiate Your Business
Punctuation is not considered sufficient enough to be different or descriptive and therefore is less likely to be accepted. For example, “Atomic! Marketing!” is still the same as “Atomic Marketing”. Therefore, using this in your application to make our company name different is likely to be rejected.
Although the process at first can be extremely time consuming and very stressful, it will be worth it in the long run. A great company name will help you stand out from the competition, as well as help to build your reputation within your market.