Registering a company in Singapore has many perks. You get tax benefits, easy setup, and strong global connections. Plus, the policies are friendly to businesses, which draws entrepreneurs from around the world to register a company in Singapore!
To register a company in Singapore, you need to choose the proper business structure, prepare the necessary documents, and register your business through BizFile. To simplify the process, you can enlist WealthBridge's help. Our team will handle the entire company incorporation process for you in Singapore!
Understanding the Basics Before Registration
Below are all the must-know basics before starting a business in Singapore.
Choosing the Right Business Structure
The first step to registering a company is choosing the right business structure. Each type has pros and cons. So, choose the one that fits your business goals.
Find out how to choose the right corporate structure for your Singapore company here!
A Private Limited Company (Pte Ltd) is the most popular and recommended structure for businesses in Singapore. With a Pte Ltd structure, a company becomes a separate legal entity from its owners. This means shareholders aren't personally responsible for the company's debts. However, keep in mind that it has more compliance needs than other structures.
If you want the simplest and fastest business structure, a sole proprietorship is your best choice. Meanwhile, an LLP combines the features of a partnership and a company. It allows two or more professionals to run a business together.
Essential Requirements for Registration
To register a company in Singapore, you must fulfill several legal and regulatory requirements. This involves picking a company name, hiring important staff, and adhering to the rules.
Company Name Guidelines
The company name must be approved by the ACRA (Accounting and Corporate Regulatory Authority) before it can proceed to incorporation. ACRA also has specific rules for the names that every company must adhere to.
Directors, Shareholders, and Key Personnel
Every company in Singapore must appoint at least one director, one shareholder, and one company secretary.
- Directors: At least one director must be a citizen, a Permanent Resident, or someone with an Employment Pass. Foreign entrepreneurs without local residency can hire a nominee director to meet this need.
- Shareholders: A company can have 1 to 50 shareholders, who can be individuals or corporate entities. Singapore allows 100% foreign ownership, meaning foreigners can fully own their companies.
- Company Secretary: Every company must hire a qualified company secretary within six months of starting.
Registered Office Address
A company in Singapore needs a local registered address. This address is the official spot for all business correspondence. The address must be a physical location in Singapore, and the office must be open and accessible during normal business hours.
Financial Year Determination
Every company must also decide on its Financial Year End (FYE) at the time of incorporation. The FYE is crucial. It sets the deadline for the company to submit annual financial statements. It also determines when to file taxes with IRAS.
Many businesses choose December 31 or March 31 as their FYE to align with the global financial reporting cycle.
Documents Needed for Company Registration
Identification Documents
- For local directors and shareholders: A copy of their NRIC (Singapore ID card)
- For foreign directors and shareholders: A passport copy and proof of residential address (such as a bank statement).
Company Constitution
A company constitution is a legal document that outlines the company’s structure, rules, and governance policies. Companies can either use a standard template provided by ACRA or draft a customized version.
Consent Forms for Directors and Secretaries
Directors must sign a consent form (Form 45) to accept their role officially. The selected company secretary must provide a written consent declaration for their appointment.
The Company Registration Process in Singapore
Step-by-step Guide to Company Registration in Singapore
To register a company in Singapore, follow the complete steps below!
Step 1: Decide on a Business Structure
Before registering a company, you must decide on a business structure. You can pick the right business structure for your company in Singapore based on the details given before.
But generally, a Private Limited Company (Pte Ltd) is the best choice for many businesses. It allows 100% foreign ownership, has its own legal identity, and offers corporate tax benefits.
Step 2: Choose and Reserve a Company Name
Your company’s name must be unique and approved by ACRA before incorporation. If the name is approved, ACRA will reserve it for 120 days, during which you must complete the registration process. Below are the specific rules to keep in mind before creating company names:
- The name must be unique and not identical to any existing companies in Singapore.
- The name must not contain offensive, vulgar, or prohibited words.
- Certain words, such as bank, finance, and education, need extra government approval to be used.
- You can reserve a name through BizFile+, ACRA’s online portal. The reservation lasts for up to 120 days.
Tip: Use ACRA’s BizFile+ to check the availability of your company name
Step 3: Prepare the Required Documents
To register a company, you must submit specific documents, including:
- Company constitution
- Director and shareholder details
- Registered office address (cannot be a P.O. Box)
- Consent forms from directors, company secretaries, and shareholders agreeing to their roles.
Step 4: Register Your Company on BizFile
Once all documents are ready, the company must be registered through BizFile+, ACRA’s online portal, and do the following:
- Logging into BizFile+ (using a SingPass for locals or engaging a corporate service provider for foreigners).
- Submitting the required documents and company details.
- Paying the incorporation fee of SGD 315 (SGD 15 for name reservation + SGD 300 for registration).
If everything is in order, approval usually takes just 1 to 3 business days.
Step 5: Open a Corporate Bank Account
After incorporation, you must open a corporate bank account to manage business transactions. Find out how you can open a corporate bank account in Singapore here.
How Much Does It Cost to Register a Company in Singapore?
The cost of incorporating a company in Singapore depends on the business structure.
This cost breakdown excludes expenses for the corporate secretary, nominee director service, and business licenses (if applicable).
How Long Does It Take to Register a Company in Singapore?
Company registration usually takes 1 to 3 days. However, some cases may take longer due to approvals.
Company Registration for Foreign Entrepreneurs
Foreigners can register a company in Singapore and own all the shares. However, they need to have at least one local director.
How to Register a Company in Singapore as a Foreigner?
Option 1: Incorporate Without Relocation (Using a Nominee Director Service)
To run your business remotely, you need to appoint a nominee director who lives in Singapore. A nominee director doesn’t have operational control. However, they make sure local rules are followed.
Option 2: Apply for an Employment Pass (EP)
If you want to manage your business in Singapore, you can apply for an Employment Pass (EP). To qualify, you must:
- Be appointed as a director of the company.
- Earn a minimum fixed salary of SGD 5,600/month (higher for experienced professionals).
- Have relevant academic qualifications and work experience.
The EP application is submitted to the Ministry of Manpower (MOM) and takes 3-8 weeks for approval.
Option 3: Apply for an Entrepreneur Pass (EntrePass)
The EntrePass is for startup founders in fields like technology, fintech, and biotech. To qualify, you must:
- Have a strong business plan and potential for innovation.
- Secure funding from a recognized investor (if applicable).
- Apply through the Ministry of Manpower (MOM).
The EntrePass process takes up to 8 weeks and requires additional documentation.
Additional Considerations for Foreigners
You can use a virtual office address if you don’t need a physical office. This will allow you to have a local business address for compliance. You will receive all mail and business correspondence through your virtual office address.
Additionally, as a foreign entrepreneur, you might also qualify for grants and tax breaks. These include the Startup Tax Exemption (SUTE) and Enterprise Singapore Grants.
Post-Registration: Navigating Your New Business
Successfully registering your company in Singapore is just the beginning. To keep things running smoothly and stay compliant, finish these post-registration steps!
What Happens After Registration?
Obtaining a Certificate of Incorporation and Business Profile
After successfully registering with ACRA, you will receive two crucial documents:
- Certificate of Incorporation shows that your company is a legal entity in Singapore. It can be downloaded from BizFile+ for a small fee.
- A Business Profile that contains your company’s key details, such as the registered business name, UEN (Unique Entity Number), directors, and shareholders.
These documents are essential when opening a corporate bank account or applying for business licenses.
Click here to know more about a Certificate of Incorporation and why is it important
Registering for Goods and Services Tax (GST)
Goods and Services Tax (GST) is Singapore’s value-added tax on goods and services, currently set at 9% in 2025. You can apply for GST registration on IRAS’s myTax Portal. The approval usually takes 2 to 4 weeks.
Should your company register for GST?
- Mandatory Registration: If your company makes more than SGD 1 million a year, you must register for GST.
- Voluntary Registration: Some businesses choose to register for GST. This helps boost their credibility and allows them to claim input tax refunds.
Securing Special Licenses
Some businesses in Singapore require additional licenses and permits to operate legally. Failure to obtain the necessary licenses can lead to fines or worse, business closure!
Some businesses in Singapore require additional licenses and permits to operate legally. Failure to obtain the necessary licenses can lead to fines or worse, business closure!
Ongoing Compliance and Filing Requirements
After starting your company, make sure to keep following ACRA and IRAS rules.
Annual General Meetings (AGMs)
All private limited companies in Singapore must hold an AGM within six months after the financial year-end. During an AGM, directors must present the company’s financial statements to shareholders.
Important: Dormant companies and private companies with fewer than 20 shareholders may not need AGMs.
Annual Filing with ACRA
Companies must submit their annual returns within 7 months after the financial year-end. This includes:
- Financial Statements
- Shareholder and Director Information
- Company’s Business Activities
Failing to meet deadlines can result in penalties of SGD 300 - SGD 600.
Important: Even if your company is exempt from AGMs, you must still file annual returns with ACRA.
Corporate Tax Filing
Corporate tax rates in Singapore are one of the lowest globally at just 17%. However, startups enjoy tax exemptions under the Startup Tax Exemption Scheme (SUTE).
- First SGD 100,000 of taxable income → 75% tax exemption
- Next SGD 200,000 of taxable income → 50% tax exemption
Important: Corporate tax must be filed by November 30 (paper filing) or December 15 (e-filing).
Tax advantages of Incorporating in Singapore
With a flat corporate tax rate of 17%, Singapore offers one of the lowest tax rates in the region. Also, no capital gains tax and many tax incentives make it more appealing.
Source: https://taxfoundation.org/data/all/global/corporate-tax-rates-by-country-2024/
Other than the low corporate rate tax, Singapore also offers many government grants and startup initiatives. It also maintains a corruption-free business environment. In 2025, it had a Corruption Perception Index (CPI) score of 84, making it the third least corrupt country. These factors make Singapore a certified business-friendly nation for entrepreneurs.
Common Pitfalls for Foreigners When Incorporating in Singapore
Foreigners often face these common challenges when incorporating in Singapore:
- Many foreign entrepreneurs pick the wrong business structure. This can cause tax problems and liability issues later on.
- Company names may be rejected if they are too similar to others or don’t follow naming rules.
- Foreign founders may not choose a qualified local director. This can slow down the incorporation process.
- Not knowing Singapore's tax system, especially GST rules, can lead to penalties and compliance problems.
Why Choose WealthBridge?
WealthBridge offers top company incorporation and corporate secretarial services in Singapore. We can help you navigate the process easily. We can guide businesses through each step. This helps you avoid common issues that business owners face when incorporating in Singapore.
WealthBridge has over 8 years of experience and has helped thousands of businesses, both local and international, set up in Singapore.
FREQUENTLY ASKED QUESTIONS (FAQ)
Can foreigners own 100% of a Singapore company?
Yes. Foreigners can own 100% of a Pte Ltd in Singapore. However, at least one local director is needed.
Do I need to hire a local director?
Yes. Foreigners must appoint a Singapore-resident director. If you don’t have one, you can use the WealthBridge nominee director service.
What is the minimum paid-up capital for company registration?
The minimum paid-up capital required to register a company in Singapore is $1.
Do I need to be in Singapore to register a company?
Physical presence in Singapore is not required for company registration. You can engage a professional service provider such as WealthBridge to complete the process on your behalf.
What support is available for startups?
The Singapore government provides various grants and funding programs to support businesses, with Startup SG Tech and Enterprise Development Grant (EDG) being among the most popular.
Startup SG Tech is an excellent match for startups in technology at the Proof-of-Concept (POC) and Proof-of-Value (POV) states. Startups at the POC Stage can receive up to SGD 400,000, while more advanced startups at the POV Stage can get up to SGD 800,000.
Meanwhile, EDG is a program by Enterprise Singapore that aims to help businesses scale, adopt technology, and expand globally. SMEs can receive up to 50% support for EDG and up to 70% support for sustainability-related projects. To qualify for EDG, the companies must be Singapore-registered, have at least 30% local shareholding, and be financially stable.