The financial barrier to entry for company formation in Singapore is low. If you’re not relocating, you can appoint a nominee director to fulfil this role. Otherwise, if you don’t have a resident director, you can use what’s known as a nominee director. That person can be a foreign national or a Singaporean citizen. You’ll need at least one shareholder, while private companies can have up to 50.
We can manage the entire company registration process remotely through our online corporate services platform. This guide covers the full registration process, including company type selection, requirements, documents, timeline, and compliance. Whether you’re a local entrepreneur or a foreign investor, this section will guide you through how to open a company in Singapore and help you navigate the company registration process with ease and clarity. Make sure the director is compliant with Singapore’s legal residency requirements to avoid delays in your business registration process.
How To Register A Business In Singapore (2025 Guide)
- If not, you can register after getting EntrePass approval.
- Before you register a company in Singapore, you need to know if your business will require licences and permits to operate.
- So now that you have a company name, it’s time to put pen to paper to make things official and form a company in Singapore!
- When you register your Singapore business with Statrys, we assist you in applying for a Statrys multi-currency business account, subject to approval.
Set up your Singapore company with ease. Feel free to contact BBCIncorp’s customer services for advice on your specific cases. However, certain post-incorporation steps, such as opening a bank account, may require physical presence depending on the bank’s policy. Singapore continues to be one of the most attractive destinations for entrepreneurs looking to start and grow a business. Our team of experts provides step-by-step support throughout the entire registration journey.
If You Don’t Have a Singpass
Proper preparation and high-quality documentation help ensure you complete the process in the shortest timeframe possible. If you choose to work with service providers or incorporation package specialists, the total setup costs are typically higher. Below, we break down the financial commitment and timeline, whether you’re handling it yourself or using professional services. After approval, your company receives a Unique Entity Number (UEN) and a digital copy of its Business Profile, enabling you to operate legally in Singapore.
Once your company is registered, fulfilling post‑incorporation obligations ensures you remain compliant with Singapore regulations. Understanding both the expenses and time required for company registration Singapore helps new business owners plan statement of activities and changes in net assets effectively. Upon payment—S$315 for company registration including name application—ACRA processes most applications within 1 to 3 working days. Factors influencing the exact duration include the type of business entity you’re registering and whether all required documents are readily available.
Well, your business structure affects your taxes, liability, grants, and even how serious you look to clients or investors. Not sure if you need a Sole Prop or a Pte Ltd while figuring out how to register a business in Singapore? To be eligible, a company must be active and have at least one local employee. All companies are eligible for partial tax exemption (PTE), which gives a 75% exemption on the first SGD 10,000 of normal chargeable income and a further 50% exemption on the next SGD 190,000.
Other types of business entities may have specific requirements, so it’s important to check the guidelines that apply to your chosen business structure. The total time to incorporate a company can range from 2 days to over 2 months, depending on your industry and company structure. For instance, registered travel agents must have a minimum paid-up capital of SGD 50,000 for Niche Licences or SGD 100,000 for General Licences. Whether you’re a local entrepreneur or an overseas investor, being well-prepared will save you time, reduce paperwork issues, and ensure your application is processed smoothly. Ensure ongoing compliance with statutory requirements. After incorporation, open a corporate bank account in Singapore.
Step 5: Register Your Company via ACRA BizFile+
You’ll need at least one director and one shareholder to incorporate a local company in Singapore. The results will show whether the business name, or a similar one, is registered, along with the company’s status. While this guide covers the essentials of registering a business in Singapore, we focus mainly on private limited companies.
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This address will be used for official correspondence. Owned by two or more individuals (or companies) sharing profits and liabilities. Suitable for small-scale, low-risk businesses – if you are researching how to set up a small business in Singapore, this option is most likely for you! Most foreign founders tend to opt for a Pte Ltd, due to its scalability and legal protections. A separate legal entity offering limited liability protection. From ACRA bizfile search, to GST compliance, we have you covered.
- No, you don’t need to be in Singapore to start the incorporation process.
- If it says “No matching record,” there is no registered company with this name, meaning you can proceed with registering it.
- At least 1 director of the company must be a Singapore resident.
- Names, IDs, addresses, and share allocation for each.
- Registering a company in Singapore is a straightforward process, but it’s important to understand each step to ensure compliance and avoid delays.
You can submit it to ACRA in this format when setting up a company. What you choose will determine how your business will be governed. You need to determine the structure of your company. Please note that this process may take some time. This includes drafting and finalising your company constitution and completing any other required forms. Your application must also adhere to ACRA’s processes.
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It’s important to note that ACRA only provides electronic copies of these documents, not hard copies. A Unique Entity Number (UEN) is an identification number for your business, which can be found in the Business Profile. You can view samples of the Business Profile for different types of business on the ACRA website. A Business Profile is like an identity card for your Singapore business. Enter the transaction number of the approved business name application, then proceed to the next step. Once you click “Start,” you will be asked if you will log in as a business or individual user.
Private Company Limited By Shares
Ensure that the proposed company name meets ACRA’s guidelines and that the address complies with local regulations. Obtain approval from ACRA (Accounting and Corporate Regulatory Authority) for both your business address and the company name. conservatism business literacy institute financial intelligence Every limited company that opens in Singapore must register with the Accounting and Corporate Regulatory Authority (ACRA).
Receive BizFile Documents
Your company’s FYE determines the deadlines for tax submissions and annual filings. The secretary handles key compliance duties, and having one early helps keep your company on track. To register a company in Singapore, you’ll need to follow six essential steps.
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With our user-friendly online platform, clients can submit documents, verify their identity, and track progress—all digitally. With over a decade of experience and a trusted presence in the global market, we’ve helped thousands of entrepreneurs and businesses launch successfully in Singapore. To ensure proper accounting and auditing, businesses must adhere to regulatory standards.
Let’s explore why this small island nation attracts business minds from around the globe. Let’s walk through the entire process step by step. To keep costs low, start with service-based work, operate from home or a virtual office, use free digital tools, and apply for government grants for new businesses. The entire process is fully online through ACRA’s Bizfile portal, and no in-person visits are required. Yes, but it’s a separate process, not an upgrade. You risk running into issues with clients, banks, and the tax authority (IRAS).
This person can manage your business in Singapore. If not, you the difference between direct costs and indirect costs can register after getting EntrePass approval. Once approved, you’re good to start working in your new company. The Ministry of Manpower (MOM) allows entrepreneurs to get an Employment Pass (EP) after incorporating a company.
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