Generally speaking, before a person carries on business in Singapore, that person and that person’s business name must be registered[i] with ACRA.
So what is a business name? Well, it is the name under which a person carries on business.[ii] The purpose of registration is to allow easy identification of the persons acting behind a business name.[iii]
Let’s say your name is “Lao Shi”, and you run a tuition business specialising in math. You have lots of students, and their anxious, kiasu parents pay you money every month to get them to pass their exams.
If you identify yourself to your paying customers as “Lao Shi”, then your business name is probably “Lao Shi”.
But if you call your business “Lao Shi Math Tuition Centre”, then “Lao Shi Math Tuition Centre” would probably be your business name.
ACRA has announced that the new law for registering your business names will take effect from 3 January 2016. So even if you are familiar with the old law[iv], it’s worth updating yourself with the new rules!
In our next post, we will discuss some of the exceptions to the general registration requirement for business names.
[i] Section 5(1), Business Names Registration Act 2014
[ii] Section 2(1), Business Names Registration Act 2014
[iii] Singapore Parl Debates; Vol 92, Sitting No 15; [08 October 2014])
[iv] Business Registration Act (Cap 32)
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