Choosing a Business Name in Singapore: Guidelines and Restrictions

Choosing a business name in Singapore is a critical step in establishing a new venture, and adherence to guidelines and regulations set by the Accounting and Corporate Regulatory Authority (ACRA) is essential. The business name not only represents the identity of the company but must also comply with certain rules to ensure transparency, avoid confusion, and maintain the integrity of the business landscape. Here are the guidelines and restrictions to help you in selecting your business name in Singapore:

1. Uniqueness and Distinctiveness:

The business name must be unique and not identical or too similar to existing business names in the ACRA registry. This is to prevent confusion among consumers and maintain a distinct identity for each business.

2. Sensitive Words and Expressions:

Certain words and expressions are considered sensitive and may require additional approvals. Examples include names that imply government patronage, are offensive, or suggest a connection with a regulated industry.

3. Prohibited Terms:

The use of terms that are offensive, obscene, or against public interest is strictly prohibited. ACRA has the authority to reject names that are deemed inappropriate or offensive.

4. Trademark Infringement:

It is crucial to ensure that the chosen business name does not infringe on existing trademarks. Before finalizing a name, entrepreneurs should conduct a thorough search to confirm that there are no trademark conflicts.

5. Approval from Relevant Authorities:

Certain business activities may require approval from specific regulatory bodies or government agencies. For instance, businesses in the financial sector may need approval from the Monetary Authority of Singapore (MAS). Ensure that the proposed business name aligns with the regulatory requirements of the industry.

6. Use of Corporate Identifiers:

The business name must include appropriate corporate identifiers based on the type of business structure. For example, private limited companies should end their names with “Private Limited” or “Pte Ltd.”

7. Reserving a Name:

Entrepreneurs can opt to reserve a business name for up to 120 days before officially registering the company. This allows time to complete other necessary procedures before finalizing the registration.

8. Online Name Application:

ACRA encourages businesses to use their online BizFile+ system for name registration and application. This platform streamlines the process and allows for quicker approvals.

9. Professional Advice:

Seeking professional advice, such as consulting with a corporate service provider or a legal advisor, can be beneficial. They can offer guidance on name selection, ensuring compliance with regulations and avoiding potential pitfalls.

10. Renewal and Compliance:

Once a business name is approved and the company is registered, it is essential to comply with ACRA’s regulations. This includes timely renewal of business registration and adherence to any changes in business activities or structure.

In summary, selecting a business name in Singapore involves careful consideration of guidelines and restrictions set by ACRA. Entrepreneurs should prioritise uniqueness, avoid sensitive terms, and ensure compliance with corporate identifiers. Conducting thorough searches and seeking professional advice from Xignam Consulting can contribute to a smooth registration process, setting the foundation for a successful and legally compliant business venture.