A certificate of incorporation is the key identification document for a Singapore Company. Previously ACRA would issue a new certificate of incorporation for every new company. Today, it’s a separate document that you would need to purchase if needed.
Before we delve into what a certificate of incorporation, we thought that it be apt that a quote about beginnings be set out,
“Take the first step in faith. You don’t have to see the whole staircase, just take the first step.”
So people have asked us when is a certificate of incorporation required? Some reasons why you may need to order a certificate of incorporation for your Singapore Company as set out below:
#1- Incorporation of foreign subsidiaries
If you wish to incorporate a company overseas or offshore, the foreign company registry/corporate secretarial agent may require as part of know your client requirements, require that you product a certificate of incorporation to prove that the Singapore parent company exists and also to prove its company registration number.
#2- Setting up a foreign branch overseas
A branch legally is not a separate legal entity but is part of the same company but with a branch in the overseas country. So when there is a contract entered into, it is legally entered into with the Singapore parent entity.
When registering the branch overseas, local company regulations may require that you produce a certificate of incorporation.
#3- Setting up a foreign branch bank account overseas
Many financial institutions and banks would require a duly certified or notarized certificate before they would allow you to open a foreign bank account for your Singapore company.
So in such a case, you would want to order a certificate of incorporation if required from ACRA.
#4- Commencement of court/arbitration legal proceedings overseas
Depending on the court/arbitration tribunal, some of them would require the production of the certificate as part of the litigation process as evidence for a trial or for identification purposes to show capacity to commence proceedings (if applicable in the relevant jurisdiction).
As we conclude, we wish to leave you with a quote by Napoleon Hill,
“First comes thought; then organization of that thought, into ideas and plans; then transformation of those plans into reality. The beginning, as you will observe, is in your imagination.”
Do contact us if you wish to find out more about the process of ordering a certificate of incorporation for your Singapore Company.
About Raffles CPA
Raffles CPA is a leading global professional services firm headquartered in Singapore that serves global clients.
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