The Importance of a Company Name Check – Getting Your Company Name Check with 3E Accounting
All companies in Singapore must have their business or company name approved by the Singapore’s Accounting and Corporate Regulatory Authority (ACRA). This guide is meant to highlight the importance of a company name check in Singapore and why you should do it.
Your Business Name May Gets Rejected
ACRA may reject the proposed name of your business or company if it violates any of the following:
- Your business name is identical to an existing registered business.
- Your business name is identical to a name already reserved with ACRA.
- The name is undesirable i.e.: vulgar, offensive or obscene.
- The name is prohibited by order of the Minister for Finance such as having unacceptable words.
- The name is suggestive or could be misleadingly linked to a government authority (such as having names with the word “Temasek”)
With effect from 13 Jan 2003, applications for proposed company or business names for registration, company incorporation or change of name must be submitted on line via BizFile. As per the Companies (Amendment) Act 2002 and Business Registration (Amendment) Act 2002, ACRA will only reject a proposed company or business name which are as mentioned above.
Therefore, a company name check is important, because if your business name is identical to an existing company’s name, the existing company can file a complaint against you. They could also petition to ACRA to have your company or business name changed. To save yourself from that risk hassle, always do a company or business name check prior to incorporation or registration of the business.
Singapore company names which include any of the following terms will need to be referred to and acquire approval from the relevant authorities:
- Financial institution
- Clearing house
No longer checks if a proposed business name closely resembles that of another existing company.
A company name that is held in reserve by ACRA will only be held for 120 days.
Instances where your chosen business name may be considered identical are:
- If the first word in your business name begins with “The”
- If “Private”, “Sendirian”, “Pte”, “Sdn”, “Berhad”, “Limited” or “Ltd” appear at the end of the name.
- You’re using the plural version of the name.
- Similarities are detected between the type of letters, spacing, and punctuation.
- The following words appear at the end of your business name:
- And company
- South East Asia
- Asia Pacific
- South Asia
Getting Your Company Name Check with 3E Accounting
For a smoother company registration process, it is highly recommended that you conduct a company name check using our services before submitting your business name for approval. Do note that all approval of business names are subject to ACRA’s discretion.