Company incorporation in Singapore

An overview of Singapore company registration

Singapore is an attractive place to start a business, as it welcomes both locals and foreigners. You can register a business if you’re a Singapore citizen, a permanent resident, or a foreigner residing overseas, although each group must follow different processes and requirements.

Regardless of your background, it’s essential to understand ACRA, which stands for the Accounting and Corporate Regulatory Authority. ACRA is the government body responsible for:

• Business registration
• Company incorporation in Singapore
• Public accountants and corporate service providers
• Corporate compliance and reporting

And don’t get confused by the terms “incorporation” and “registration”. While they’re often used interchangeably, incorporation is actually just one type of business registration. 

When you register a business with ACRA, you can choose different structures such as a sole proprietorship, partnership, or company. Incorporation specifically refers to registering a company, like a Private Limited (Pte Ltd), which becomes a separate legal entity. So while all incorporated companies are registered, not all registered businesses are incorporated.

Understanding ACRA is important because you’ll complete your entire Singapore company incorporation online through its BizFile+ portal. This is where you:

• Apply for your business name
• Submit director/shareholder details
• Upload documents
• Pay incorporation fees
• Track your registration status

However, not everyone can access the BizFile+ portal as it depends on your nationality status.

• Singapore citizens and permanent residents: You can self-register your business by accessing the BizFile+ portal using Singpass.
• Non-Singapore residents: You can’t self-register the business, so you must engage a local Registered Filing Agent (RFA), such as a corporate service provider, accounting firm, or law firm, to apply on your behalf.

In most cases, the registration process can be approved within a few days, but it’s subject to document completeness, compliance with KYC/due diligence, and whether the business name or activity requires review. In addition, it may take 14–60 days if your application needs to be referred to another government agency for approval.

The 3 stages of setting up a company in Singapore

When you're learning how to set up a company in Singapore, think of the process in three parts:

Let’s break each one down clearly.

PART A: Approval of the business name 

1. Choose a business name

You can’t register a company in Singapore without a unique business name.

Your name must:

• Not be taken or reserved
• Not be identical to an existing business
• Not infringe any trademarks
• Not contain vulgar or offensive words
• Avoid regulated words like “bank”, “finance”, “school”, “legal”,  and “media”, unless you’re ready for additional government review

Once approved, ACRA reserves your business name for a period of 120 days. This is important because you can’t complete company registration without an approved name.

2. Choose a suitable business structure

Choosing your business structure is one of the most crucial steps in setting up a business in Singapore.

Here’s a clear explanation of every structure:

Sole proprietorship

Best for: Individuals running small, low-risk businesses

Key features:

• Owned and controlled by one person
• Not a separate legal entity
• You carry unlimited personal liability
• Inexpensive and straightforward to register a business in Singapore

Not suitable if you want to scale or protect your personal assets.

Partnership (General Partnership)

Best for: 2 to 20 people running a small business

Key features:

• Not a separate legal entity
• Partners share unlimited liability
• Each partner is responsible for the actions of others

High-risk unless very small and low liability.

Limited Partnership (LP)

Best for: Investment or project-based ventures

Key features:

• At least one general partner (unlimited liability)
• At least one limited partner (liability limited to contribution)
• Still not a separate legal entity

Commonly used for private funds or temporary ventures.

Limited Liability Partnership (LLP)

Best for: Professional firms like consultants, lawyers, and architects

Key features:

• Separate legal identity
• Partners have limited liability
• Partners are liable only for their own actions

A hybrid between partnership flexibility and company-style protection.

Private Limited Company (Pte Ltd) 

Best for: Any business aiming for growth, investors, or hiring

Key features:

• Separate legal entity
• Shareholders have limited liability
• Strong branding and credibility
• Access to tax benefits, grants, and incentives
• Ability to raise funds
• Suitable for locals and foreigners

If you’re wondering how to start a company in Singapore with maximum benefits, the Pte Ltd structure is almost always the best choice.

3. Select your SSIC code

You must select an SSIC (Singapore Standard Industrial Classification) code that describes your main business activity.

Your SSIC code determines company incorporation. 

• Licensing requirements
• Industry classification
• Eligibility for grants and tax incentives
  
  

Select the code that best represents your core activity, as it impacts your compliance obligations when registering a company in Singapore.

4. Choose your financial year-end (FYE)

Your FYE affects:

• Tax filing deadlines
• Accounting cycle
• Financial reporting timelines

Common FYEs are:

• 31 March
• 30 June
• 30 September
• 31 December

Singapore gives you the flexibility to choose what fits your business.

5. Provide your registered office address

A requirement for Singapore business registration.

Your registered office:

• Must be in Singapore
• Must be open at least 3 hours on weekdays
• Can be a coworking space, office, or your home (with approval)
• Will be your legal address for notices, mail, and compliance

Penalty: Up to SGD $5,000 for non-compliance.

Using your home address

You can use your home address under the Home Office Scheme (HDB or private property). 

6. Submit contact details & pay the name application fee

You will have to pay SGD $15 as a fee for registration of the business name.

Once the name is approved, you are ready for the next stage of company formation in Singapore.

PART B: Registering your business entity on BizFile+

This is where the actual Singapore company incorporation happens.

1. Log in to BizFile+

To proceed with business registration in Singapore, log into BizFile+ using:

• SingPass (locals/PRs)
• CorpPass (business users, but is primarily used by filing agents or registered officers acting on behalf of the company)
• Foreigners will have to register through a corporate service provider

Then select the Register New Entity option provided on the website to move on to the next step of this process. 

Begin by retrieving your approved business name along with the details you entered in Part A, and proceed to complete the rest of the incorporation requirements.

2. Appoint key personnel

To register a company in Singapore, you must appoint:

Shareholders (Minimum: 1)

They can be a single individual or corporate shareholders, whether local or foreign. You can have up to 100 shareholders.

Resident director (Minimum: 1)

Must be:

• Singapore Citizen, PR, EntrePass holder
• Or an EP holder with a Letter of Consent
• At least 18 years old

Once you have appointed one resident director, you can appoint an unlimited number of foreign directors. This is crucial for those who want to register a company in Singapore for foreigners.

But why is the resident director mandatory in Singapore?

The requirement for at least one director to be "ordinarily resident" in Singapore is a cornerstone of the country's corporate governance framework. It ensures that there is always a natural person within the jurisdiction who’s legally accountable for the company's compliance with the Companies Act. This presence facilitates:

• Statutory Compliance: Ensuring timely filing of annual returns, financial statements, and other documents with ACRA and IRAS.
• Enforcement: Providing a local point of contact for ACRA, IRAS, and the courts to serve official notices, compel compliance, and enforce penalties in the event of corporate misconduct or failure to maintain records.

Company secretary (Appoint within 6 months)

The company secretary ensures:

• Compliance with ACRA
• Filing of annual returns
• Maintaining statutory records

They act as the company’s compliance officer.

Auditor (If required)

Most small companies are exempt, but if your company is not exempt, appoint an auditor within 3 months.

3. Documents required for each officer

You will need to upload the following documents:

• Passport (for foreigners)
• NRIC (for locals)
• Proof of residential address
• Brief profile or resume
• Consent to act (endorsement done online)

These are mandatory for completing company registration.

4. Share capital information

Minimum share capital for Singapore company incorporation is S$1.

You can issue:

• Paid-up shares
• Partially-paid shares
• Different share classes (e.g., Class A with voting rights, Class B preference shares)

Example:

If you issue:

• 100,000 shares at SGD $1 each → Issued capital = SGD $100,000
• Only SGD $50,000 paid → Paid-up capital = SGD $50,000

You can increase capital at any time after incorporation.

5. Create your company constitution

This is your company’s internal rulebook.

It includes:

• Company name & address
• Business activities
• Share capital structure
• Voting rights
• Director & shareholder rules
• How meetings are held
• How shares can be transferred
• How officers can be appointed or removed

You may use:

• ACRA’s Model Constitution
• A customised version drafted by a provider

A constitution is mandatory in order to register a company in Singapore.

6. Submit endorsements

Once you submit, all shareholders, directors and the company secretary will receive an email to endorse their appointment.

They must approve within 60 days, or your application will lapse.

7. Submit your final application & pay fees

The basic ACRA fee for company registration is SGD $300. When you include the separate SGD $15 charge for name approval, the total minimum cost comes to SGD $315. (Note that the fees were last updated in December 2025).

Once approved, ACRA issues:

• Incorporation certificate
• Unique Entity Number (UEN)
• Company profile (available for purchase)

And, Congratulations! Your Singapore company registration is complete.

PART C: Post-Registration Essentials 

Once your Singapore company incorporation is completed and you’ve received your UEN (Unique Entity Number), your business is officially recognised under Singapore law.

But setting up a business in Singapore isn't finished yet. There are several essential steps to get your company fully operational.

Let’s walk through everything you must do next.

1. Open a corporate bank account

When your Singapore company registration is complete, one of the first things you’ll need is a corporate bank account, because without it, you can't receive payments, make payouts, or run your business professionally. 

Traditionally, most business owners have opened accounts with major banks, such as DBS, OCBC, UOB, HSBC, or Standard Chartered, and these remain popular choices. However, in recent years, digital and fintech corporate accounts have revolutionised the process, particularly for foreigners seeking to register a company in Singapore without physical presence. Digital banking platforms offer fast, fully online onboarding, allowing you to open your account remotely without visiting a branch. 

This alone removes one of the biggest challenges many foreign entrepreneurs face when setting up a company in Singapore, because traditional banks often require in-person verification, local directors, or lengthy due diligence checks.

To truly start a business in Singapore, you need a corporate bank account. This is required for:

• Receiving customer payments
• Paying suppliers
• Tracking business expenses
• Applying for loans or credit
• Meeting compliance and audit requirements

2. Apply for business licences (If required)

Depending on your SSIC code and business activity, you may need additional licences before operations begin.

Common industries needing licences:

• Food & beverage (F&B)
• Retail
• Import/export
• Finance & lending
• Education and training
• Travel agencies
• Healthcare services
• Real estate agencies
• Media and broadcasting
• Security services

Singapore is stringent when it comes to regulated industries, so ensure your licences receive approval before you begin operations.

Your SSIC code (selected earlier during business registration Singapore) determines your licence requirements.

3. Register for GST (If applicable)

If your company’s taxable revenue is SGD $1 million or more in the past 12 months or is expected to cross SGD $1 million in the next 12 months, you must register for GST.

You may also choose voluntary GST registration if you:

• Sell mainly to GST-registered businesses
• Want to claim input tax credits
• Operate in B2B markets

Note that GST registration is handled by IRAS, not ACRA.

4. Set up your accounting system

Singapore requires every company to:

• Maintain proper accounting records
• Issue invoices and receipts
• Keep financial statements
• Track expenses
• Store records for 5 years

Some popular accounting tools in Singapore are:

• Xero
• QuickBooks
• Zoho Books
• Tally
• MYOB

Setting this up early makes compliance much easier when you start filing corporate taxes and annual returns.

5. Hire employees (If applicable)

If you’re planning to hire, Singapore’s employment regulations are clear but strict.

Key responsibilities:

• Comply with the Employment Act
• Issue itemised pay slips
• File employer CPF contributions (for Singaporeans/PRs)
• Ensure foreign workers have valid passes (Work Pass, S Pass, EP, etc.)
• Provide mandatory medical insurance where required

If you're a foreign founder looking for how to open a company in Singapore, you’ll need the proper work pass (e.g., Employment Pass).

6. Register for CPF (If you hire local employees)

CPF (Central Provident Fund) contributions are mandatory for:

• Singapore citizens
• Singapore permanent residents

Employers contribute a fixed percentage of the employee’s salary.

You must register for CPF as an employer before your first monthly payroll.

7. Understand annual compliance requirements

After you set up business in Singapore, you must comply with annual ACRA and IRAS obligations.

ACRA requirements

• File Annual Return (AR) once a year
• Hold Annual General Meeting (AGM) unless exempt
• Maintain updated company records
• Notify ACRA of any changes (address, directors, shares, etc.)

IRAS requirements

• File Estimated Chargeable Income (ECI) within 3 months of FYE
• File Corporate Tax Return (Form C-S or C) every year

Failure to comply can lead to penalties and legal consequences.

8. Set up your company’s statutory registers

To stay compliant after company registration, you must maintain:

• Register of shareholders
• Register of directors
• Register of secretaries
• Register of controllers (RORC)
• Register of nominee shareholders
• Minutes of meetings
• Share allotments or transfers

These must be updated and accessible at your registered office address.

9. Apply for a customs account (If you import/export)

If your business involves trade:

• Importing goods
• Exporting goods
• Transshipping through Singapore

You must activate a Customs Account before you can start operations.

10. Protect your Intellectual Property (IP)

If your business relies on branding, technology, or proprietary content, consider registering:

• Trademarks
• Copyright
• Patents
• Designs

IP registration is done through the IPOS (Intellectual Property Office of Singapore).

11. Obtain business insurance

Not mandatory, but highly recommended for companies newly setting up a business in Singapore.

Useful business insurance plans:

• Public liability insurance
• Work injury compensation insurance
• Professional indemnity insurance
• Cybersecurity insurance
• Property insurance

These protect your operations and reduce risk.

12. Website, branding & business infrastructure set up

To properly start a business in Singapore, you'll also want to:

• Register your domain
• Build your website
• Set up email hosting
• Create branding assets
• Establish social media and customer channels
• Implement CRM or sales systems

These are not mandatory but essential for operations and growth.

If you’re wondering why Singapore remains a top choice for founders globally, we have listed the top reasons.

Top reasons to register your company in Singapore

Here are the reasons why founders around the world choose setting up a business in Singapore:

Full foreign ownership allowed

Foreign entrepreneurs can legally own 100% of a Singapore company, with no need for a local partner or shareholder. This gives you full control over your equity and long-term decisions.

However, while full foreign ownership is allowed, every Singapore company must still appoint at least one local resident director to meet regulatory requirements. This doesn’t reduce your ownership stake, but it does mean that control in practice may involve appointing a nominee director or working with a trusted local representative. In short, you can own the entire company, but you must fulfil the local director requirement to stay compliant.

Strong pro-startup environment

Starting a business can be terrifying and exciting at the same time. It's reassuring to know that the government will be there to assist you along the way.

Singapore consistently seeks innovations and supports businesses during challenging times, as evidenced by its support for companies during the COVID-19 pandemic. During the pandemic, the Singapore Government introduced a wide range of financial support measures to help businesses stay resilient and continue operating. This included multi-billion-dollar schemes such as the Jobs Support Scheme, enhancements to the Startup SG Founder programme, and expanded financing options under the Enterprise Financing Scheme and the Temporary Bridging Loan Programme. The Government also continued to support innovative businesses through equity co-investment initiatives led by SEEDS Capital and EDBI.

According to Michael Piwowar, a former Commissioner at the US Securities and Exchange Commission, Singapore has become a model of capital market development for many developing countries worldwide.

Unlike other nations with overly regulated legal processes, the Singapore government has developed a practical regulatory framework over the years, allowing the country to remain competitive on a global scale. From a business perspective, no one would want to miss the opportunity to set up their company in a vibrant and emerging business hub like Singapore.  

Attractive to investors

Global investors trust Singapore because of its stability and strong rule of law. Incorporating here instantly adds credibility when you’re raising funds.

Many VCs invest in Singapore. By adding your startup to the mix, you increase your chances of accessing these investors and getting the much-needed resources to grow your business quickly. Furthermore, Singapore serves as a financial hub, attracting both local and international banks, many of which establish their headquarters on the island. This provides new business owners with a range of options and access to capital resources. By incorporating your company in Singapore, you'll be opening your business to the possibilities of these funding sources.

Extensive government grants

From innovation grants to productivity credits, Singapore offers generous financial support to help businesses scale and stay competitive.

No capital gains tax

Profits from the sale of shares or business assets are tax-free, making Singapore especially attractive for founders and investors planning long-term exits.

Low corporate tax

With a flat corporate tax rate capped at 17% — plus various tax exemptions for new startups — your company keeps more of its earnings.

Strategic location

Singapore provides close access to Asia's population, which exceeds 4.82 billion. This is a decisive advantage, considering your customers, talents, partners, and investors are among this sizeable group.

Known as the maritime gateway of the world, the Port of Singapore provides access to strategic transportation and supplies. Its proximity to some of the world’s most significant economies, such as China and India, also makes it a perfect spot to springboard into those markets. Moreover, the city is home to one of the world's best airports, Changi Airport, which facilitates travel to and from Southeast Asia’s hub and serves over 100 airlines, connecting to more than 163 cities.

Changi Airport has also consistently ranked within the world’s top three airports, making it a reputable and trustworthy point of contact for freight forwarders and carriers.

The efficiency and convenience of inbound and outbound flights also make it easy for business owners to travel for business.

Thriving start-up ecosystem

Business formation benefits for startups don’t end with tax advantages and government support. Companies that incorporate in Singapore can also benefit from an environment that supports their vision and goals.

Singapore has a diverse and highly skilled talent pool from all over the world, ready to leverage their expertise to scale your company.

You will find accelerators, incubators, venture capital firms, and co-working hubs everywhere, i.e. a strong community that supports growth at every stage.

Strong IP protection

Singapore has one of the world’s most respected intellectual property regimes, ensuring your innovations, brand, and technology are legally safeguarded.

Reliable legal system

With one of the most stable political environments in the Southeast Asia region, Singapore offers potential business owners and investors security.

The country’s low corruption and crime rates also make it an ideal place for entrepreneurs. Therefore, if you choose to establish a company in Singapore, you can confidently safeguard yourself from these turbulent forces.

Singapore also boasts a robust track record in handling both internal and external corporate disputes. Singapore's efficient legal processes and systems ensure the swift and fair resolution of any cross-border or local disputes.

Quick and simple incorporation

Singapore’s incorporation process is one of the fastest globally—most companies are registered within a day through ACRA’s online portal.

Free movement of funds

There are no restrictions on capital inflow or outflow, making it easy to manage international transactions, investments, and profit repatriation.

Highly skilled workforce

The local talent pool is rich with qualified candidates for many industries. Singapore's excellent education system has produced a highly competitive workforce. Its liberal immigration system has also caught the eye of global talent. This makes Singapore the perfect ground for new business owners to capitalise on when forming their dream team.

Start your business in Singapore with Aspire Launchpad

Aspire Launchpad helps you go from incorporation to growth with the right partners and tools. It connects you with trusted service providers, making your entrepreneurial journey smooth and effortless.

How Aspire Launchpad works

STEP 1 — Select your business filters

• Choose the service category you need.
• Select your business location.
• Choose your business type.

STEP 2 — Receive tailored recommendations

• Get a curated list of trusted partners.
• Access services like incorporation, accounting, tax, insurance, payroll, and more.

STEP 3 — Connect with the best providers

• View the recommended partner for your business type.
• Contact them directly through the platform.
• Start working with verified, reliable service providers.

Aspire also offers a quick, digital-first business account. You can open your account entirely online. This is a significant advantage if you are overseas and need a fast way to get operational. Aspire also offers multi-currency accounts with competitive FX rates, making it ideal for businesses with international clients, suppliers, or remote teams. You can manage payments, create invoices, issue virtual corporate cards, and track team expenses from a single, user-friendly dashboard. It integrates with tools like Xero and QuickBooks, providing automated bookkeeping and real-time cash flow visibility. 

For startups, SMEs, and especially foreigners setting up a company in Singapore, Aspire offers a simple, flexible, and fully digital alternative to traditional banking, enabling you to run your business smoothly from day one.