Choosing a name for your business that is both unique and suitable for your company is an important task, as it gives clients their initial impression of you and helps set you apart from the competition. Putting more thought into it could pay off significantly as your business expands.
Before Singapore company registration, you must apply to the company registrar ACRA and receive approval for the name of your company. It’s a simple procedure that can get a company name approved in less than an hour if it follows the ACRA’s guidelines when choosing a name.
Tips for Successful Approval of Your Company Name
- Follow ACRA’s rules and avoid selecting names that are offensive or vulgar, or that sound too similar to organizations run by the government.
- Be aware that using common terms like “bank,” “insurance,” “finance,” “school,” “media,” or “broker” could cause government agencies to issue additional warnings because you might need to get specific approvals or licenses before incorporating a business. As a result, the request might be forwarded to the appropriate regulatory body, which could cause a few-week delay in the name approval procedure. Therefore, be cautious and only include these terms in your company name when absolutely required.
- After you have decided on a suitable and appropriate name for your company, use a company name search tool to thoroughly investigate any similar company names. This will lessen the possibility of complaints being made in the future about your business.
- If your suggested company name is already registered or reserved and your search produces no results, try adding a few words to set your proposed name apart from the registered entity. However, keep in mind which terms are disregarded when ACRA determines whether the names are the same.
- To ensure that the company name you have selected won’t be taken by another, reserve a name with ACRA.
- Within 120 days of the date of name reservation, incorporate your Singaporean business. The reserved company name will be released if you miss the deadline.
Checking the Availability of a Company Name in Singapore
After reading ACRA’s guidelines and selecting a name for your Singapore-based company, you should find out if your chosen name is already taken. You can use the BizFile portal to search. In the search bar enter the entire name you wish to check, then press the “Search Name” button.
To optimize the outcome of your name search, make sure to:
- Company names with similar pronunciations;
- variations on the suggested name (especially useful for names with initials);
- Terms having similar definitions;
- Names operating in similar sectors or trades.
You will receive a list of potential company names that are similar to your preferred name from the search. If the name you have in mind for your business has already been registered, you should think of alternative names or include additional words to set your proposed name apart from the registered names. When determining whether a name is identical to another entity registered with ACRA or not, keep in mind that some words will not qualify as sufficiently different; ACRA will disregard these words.
Things to Consider When Choosing a Company Name
- Be creative
Make use of puns and wordplay when incorporating your industry or niche into the name. You can make your company name memorable by using wordplay. If the company has a special origin story or a personal connection to you, think about mentioning it in the name. A term from a different language could add an interesting and foreign touch. But above all, since it is simpler for clients to remember and share, a short, straightforward name is frequently the best option.
- Make sure that it accurately represents your brand
The name must convey your mission and core values while also reflecting your brand identity. Pick a name that reflects your company’s values, such as “Eco-Wise Innovations” or “Green Life,” if it is centered on sustainability and environmental friendliness. Additionally, it must coordinate with your color scheme and logo, which are visual branding elements.
Think about how you want your target audience to see it. It should connect with them and give them a favorable impression of your company. Having a memorable and catchy name can help you build brand recognition and differentiate your business in a highly competitive marketplace.
- Register a company name that can be used anywhere in the world
You should plan for worldwide expansion or progress with your business. Similarly, it would be ideal to pick a name that perfectly conveys your brand’s essence everywhere in the world.
Related: Guided Selling Tips and Tricks for Business Leaders
