To register a company in Singapore is one of the more straightforward processes in Southeast Asia. ACRA (the Accounting and Corporate Regulatory Authority) has made most of it digital and the actual filing takes less than a day if your documents are in order. The harder part is usually the decisions you make before you file: what structure, who the directors are, what your share capital should be.
This guide walks through the whole process, from choosing your business structure to what happens after your company number lands in your inbox.
Choosing the right business structure
Most people reading this are deciding between a sole proprietorship and a private limited company. There are other structures — partnerships, limited liability partnerships — but for anyone starting a real business with growth ambitions, the choice almost always comes down to these two.
Sole proprietorship is simple to set up and cheap to maintain. You own the business outright and keep all the profits. The catch is that you are the business legally, so if it gets sued or runs up debts, your personal assets are on the table. Banks also tend to be more conservative about lending to sole proprietors.
Private limited company (Pte Ltd) costs a bit more to set up and has ongoing compliance requirements, but it gives you limited liability, a separate legal identity, and a more professional face to clients and banks. Corporate tax rates are also generally more favourable than personal income tax once you start making decent money. Most serious businesses go this route.
For the rest of this guide, we’ll focus on registering a private limited company. It’s what the majority of founders and foreign entrepreneurs are going for.
Who can register a company in Singapore
Singapore is deliberately open about this. There are no restrictions on foreign ownership, so a foreigner can own 100% of a Singapore company. What you do need:
- At least one director who is ordinarily resident in Singapore. This includes Singapore citizens and PRs, and may include eligible FIN holders who meet local residency rules. Pass holders should check with the relevant pass issuer before accepting a directorship. If you’re based overseas and don’t have a qualifying local director, you’ll usually need to appoint a nominee director through a reputable corporate service provider.
- At least one shareholder. This can be an individual or a corporate entity.
- A company secretary, appointed within six months of incorporation.
- A registered Singapore address for the company. A P.O. box doesn’t count.
The minimum paid-up capital is S$1. Yes, really. Most people start with S$1 or a nominal amount like S$100 or S$1,000. You can increase it later.
Step 1: Choose and reserve your company name
Before you can file for incorporation, your company name needs ACRA approval. You do this through the Bizfile+ portal.
Things that will get your name rejected: names that are identical or too similar to existing companies, names that contain words ACRA considers undesirable or offensive, and names that require approval from specific government bodies (for example, anything with “bank”, “school”, “media”, or “law” in it needs separate clearance).
Straightforward name applications are often approved quickly after payment. ACRA may take up to three working days to review a proposed name, while applications referred to another authority may take up to 15 working days. Once approved, the name is reserved for 120 days. You need to incorporate within that window.
Cost: S$15.
Step 2: Prepare your incorporation documents
This is where most of the admin work happens. You’ll need:
Constitution (formerly Memorandum and Articles of Association)
This is the document that sets out how your company is governed — shareholder rights, director powers, how meetings work, how shares can be transferred. ACRA provides a standard model constitution that works fine for most companies. If you have specific shareholder arrangements or are setting up something more complex, a customised constitution makes sense.
Director and shareholder particulars
For each director and shareholder, you need their full name, NRIC or passport number, nationality, and residential address. If a corporate entity is a shareholder, you need its registration details.
Consent to act as director
Every director signs a declaration confirming they’re not disqualified from acting as one.
Share structure
You need to decide how many shares to issue and at what value, and who gets what percentage. Keep it clean at the start. You always have the option to issue more shares or adjust later.
Step 3: File for incorporation via Bizfile+
Everything goes through Bizfile+, ACRA’s online portal. If you’re filing yourself, you’ll need a Singpass login. Foreigners who need to reserve a name and register a business structure must generally engage a Corporate Service Provider, which files on their behalf as an authorised filing agent.
The incorporation form asks for your company name, business activities (classified by SSIC code), registered address, share structure, and director/shareholder details.
Once submitted and all required endorsements are completed, straightforward applications are often processed quickly. Applications involving referred names, regulated activities, or incomplete endorsements can take longer. You’ll receive a Unique Entity Number (UEN), which is your company’s registration number and what you’ll use everywhere from bank account applications to government portals.
Registration fee: S$300. Together with the S$15 name application fee, the total ACRA government fee is S$315.
Step 4: Open a corporate bank account
Your UEN is in hand, now you need a bank account. This is where things can slow down.
Singapore banks, DBS, OCBC, UOB being the main ones, have KYC requirements that vary in how much documentation they want and how long they take. For straightforward setups, expect 1 to 2 weeks. For companies with foreign shareholders, complex structures, or certain business activities, it can take longer.
What banks generally ask for: Certificate of Incorporation, business profile from ACRA, company constitution, details of all directors and beneficial owners, and sometimes a business plan or proof of business activity.
Digital banking alternatives like Airwallex, Aspire, or Revolut Business have faster onboarding and are worth considering if you need to move quickly, though they’re not a full replacement for a traditional corporate account if you’re dealing with larger transactions.
Step 5: Register for relevant tax obligations
GST registration
GST (Goods and Services Tax) is currently at 9%. GST registration is compulsory if your taxable turnover exceeds S$1 million under the retrospective test, or if you reasonably expect taxable turnover to exceed S$1 million in the next 12 months under the prospective test. If you’re below that threshold, you can register voluntarily, which may make sense if your clients are GST-registered businesses and your own GST-claimable expenses are meaningful. From 1 April 2026, any business applying for voluntary GST registration must also comply with InvoiceNow requirements.
Corporate income tax
All Singapore companies file corporate income tax annually with IRAS. Qualifying new start-up companies may claim a 75% tax exemption on the first S$100,000 of normal chargeable income and a further 50% exemption on the next S$100,000 for their first three consecutive Years of Assessment, making Singapore genuinely attractive for early-stage businesses.
Estimated Chargeable Income (ECI)
Within three months of your financial year end, you generally need to file ECI with IRAS unless your company qualifies for the ECI filing waiver. A common waiver applies where annual revenue is not more than S$5 million and ECI is nil. Do not assume the waiver applies automatically. Check your position before the deadline.
Ongoing compliance requirements
Incorporating is the easy part. The ongoing compliance is what catches founders off guard.
Company secretary: Must be appointed within 6 months of incorporation. The role involves filing annual returns, maintaining statutory registers, and keeping the company compliant with the Companies Act. Most SMEs outsource this.
Annual General Meeting (AGM): Private companies may be exempt from holding AGMs if they send their financial statements to members within 5 months after the financial year end, subject to the Companies Act safeguards. Most small companies that qualify take this exemption.
Annual return: Filed with ACRA each year. Due within 7 months of financial year end for companies that are not required to hold an AGM.
Audit requirements: A private company can qualify for audit exemption as a small company if it meets at least two of the three quantitative criteria for the relevant period: total annual revenue of S$10 million or less, total assets of S$10 million or less, and 50 or fewer employees. The test is different for newly incorporated companies and for companies that are part of a group. Most startups and SMEs qualify, but you should check the criteria properly rather than assuming.
Financial statements: Audit exemption does not automatically remove financial statement obligations. Some companies still need to prepare and file financial statements, while solvent exempt private companies that meet the conditions generally do not need to file them with ACRA. Companies that are required to file financial statements generally need to file in the applicable ACRA format, such as Simplified XBRL, Full XBRL, XBRL FSH for certain regulated financial institutions, or PDF-only for specific categories.
Common mistakes to avoid
Picking the wrong financial year end: You can choose any month. Many people default to December without thinking about it. If your business is seasonal, aligning your year end to your off-season makes the audit and filing process less painful.
Not appointing a company secretary early enough: Six months sounds like plenty of time. It isn’t if you’re busy running the business. And the penalties for late appointment are real.
Letting your registered address lapse: If your registered address changes and you don’t update ACRA, you can miss official correspondence, including letters from IRAS or ACRA itself.
Ignoring ECI deadlines: Many founders don’t know this filing exists. IRAS sends reminders but they go to the registered address, which founders sometimes don’t check.
Mixing personal and company finances: Open the corporate account before you start spending. Untangling co-mingled finances later is expensive and time-consuming.
How much does it cost to register a company in Singapore?
For a straightforward setup, the bare minimum government fees are:
- Name application: S$15
- Company registration: S$300
- Total ACRA government fees: S$315
If you’re using a corporate service provider (recommended for foreigners or anyone who wants the process done properly), professional fees typically add S$500 to S$1,500 depending on what’s included. Some providers bundle the first year of company secretarial services into the incorporation fee, which is worth looking for.
Nominee director services — if you need a local director — cost S$1,500 to S$3,000 per year on top of the above.
Ready to register?
Abacus handles company registration, corporate secretarial services, and ongoing compliance for Singapore businesses. If you’d like to talk through your setup before you file or simply have us handle the whole process, get in touch.
For straightforward incorporations, the company registration itself can often be completed within a few working days once documents and endorsements are in order. Bank account opening and work pass matters can take longer.
