It’s possible that once you’ve chosen a name for your Singapore-based company, you’ll decide to change it for one of the following reasons:
You’d want to change the name of your business as part of a rebranding effort. However, you may choose to change your company’s name since it better reflects the nature of your firm.
If you’d want to discover how to rebrand your company, keep reading. So are you wondering Can I Change My Business Name After Incorporation in Singapore? Here are the answers for you.
Decide on an Appropriate Name for Your Business
Your company’s new name should be a good fit. You can’t incorporate any of the following in your company’s new name under the rules of the Companies Act:
It’s not a good idea
When a company or business already has a registered name, or if a name has been reserved by another organisation or business, it may be prohibited by an order from the Minister of Finance.
If you’d want to learn more about the restrictions on company names, you can do so by checking out this article.
Apply to the ACRA for Approval of the New Company Name.
In order to get your proposed business name approved by the Accounting and Corporate Regulatory Authority (ACRA), you must submit an application titled “Change in Company Information” once you have chosen a new name for your company.
There is a $15 filing fee that you should be aware of.
Draft and Approve an Extraordinary Resolution Regarding the Change of Company Name
Adoption of a special resolution is necessary for a company name change if the ACRA approves the proposed new name. The following steps must be taken in order to pass a special resolution:
Make a formal motion to rename the company that will be recorded
Make an effort to meet at a time that is convenient for everybody involved. In order to change the company’s name, notice of the next meeting and the resolution requiring its passage must be sent to all shareholders.
At the very least, a 14-day notice must be given by a private company before a board meeting. Members who have at least 95 percent of the voting rights may agree to move the meeting up in the calendar so that it can be called sooner rather than later.
To alter the company’s name, a majority of the participants at the meeting must vote in favour of a resolution.
A copy of the resolution must be forwarded to ACRA within 14 days after its passage in compliance with their rules. It is possible to do this online using the “Notice of Resolution” transaction in BizFile+.
As soon as the resolution is filed to ACRA, all of your company’s pertinent information will be updated to reflect the name change. Your company’s new name will be officially adopted after you get a notice of incorporation in the mail from the state of Delaware.
You’ve finished! So, what’s next for me?
For the rubber stamp used by your business to accurately depict your company’s name change, an update is required.Consider registering a trade mark under the current name of your company if your business has previously had one registered under its prior name.
For tax purposes, you do not need to notify IRAS of a change in your company’s name since it will be updated immediately based on information given by Singapore’s Accounting and Corporate Regulatory Authority (ACRA).
