Guide to Registering a Company in Singapore All You Need to Know

How to Set Up a Company in Singapore A Comprehensive Guide

In recent years, with the evolving global economic landscape and advancing regional integration, more entrepreneurs and businesses have turned their attention to Southeast Asia. Among the vibrant nations in this region, Singapore has become a top destination for international investors due to its stable economy, efficient legal system, and strategic location.

According to data released by Enterprise Singapore, the number of newly registered companies in Singapore increased by over 10% year-on-year in 2025, with a notable rise in foreign-owned businesses. This trend demonstrates that despite a slowing global economy, Singapore continues to attract significant investment. For entrepreneurs looking to start or expand a business in Singapore, understanding how to set up a company is crucial. This article provides a comprehensive guide covering registration procedures, legal requirements, tax policies, and more.

1. Choosing the Right Business Structure

Before registering a company in Singapore, it's essential to decide on the appropriate business structure. The most common options include

Private Limited Company Pte Ltd

The most popular choice for small and medium-sized enterprises SMEs, offering limited liability protection, strong fundraising capabilities, and access to various tax incentives.

Branch Office

Suitable for overseas companies wishing to operate in Singapore without forming an independent legal entity. However, the parent company assumes full legal responsibility for the branch.

Representative Office

Ideal for foreign companies exploring the market through research and liaison activities, though it cannot engage in profit-generating operations.

Partnership Sole Proprietorship

Appropriate for individual entrepreneurs or small-scale ventures, but these structures offer less flexibility in terms of legal protection and tax planning compared to a private limited company.

2. Meeting Basic Registration Requirements

To register a Private Limited Company in Singapore, the following conditions must be met

At least one director must be a local resident Singapore citizen, permanent resident, or holder of an Employment Pass/EntrePass.

The company must have a valid local registered address not a PO Box.

A qualified company secretary must be appointed within six months of incorporation.

The minimum paid-up capital is S$1, with no upper limit.

Maximum of 50 shareholders.

All directors and shareholders must be at least 18 years old and legally competent.

3. Step-by-Step Company Registration Process

The company registration process in Singapore is highly efficient and typically takes between 1-3 days

1. Company Name Approval

Submit the proposed name via ACRA’s BizFile+ portal, ensuring it is unique and complies with naming rules.

2. Prepare Required Documents

These include the company constitution, identity documents of shareholders and directors, and proof of the registered address.

3. Submit Application Online

File all necessary documents through BizFile+ and pay the registration fee approximately S$300.

4. Receive Certificate of Registration

Upon approval, download the electronic Business Profile, which serves as official proof of incorporation.

5. Open a Corporate Bank Account

Use your registration documents to open a bank account in Singapore. It's advisable to schedule an appointment in advance.

6. Apply for Industry-Specific Licenses

If your business operates in regulated sectors such as food services, finance, or education, apply for relevant permits from the appropriate authorities.

4. Tax System and Incentives

Singapore is known for its simple and competitive tax regime, making it attractive to multinational corporations

Corporate Income Tax Flat rate of 17%, significantly lower than many Western countries.

Tax Exemption for Startups Newly incorporated companies may enjoy full tax exemption on the first S$100,000 of taxable income for three consecutive years.

No Double Taxation on Dividends Singapore follows a single-tier tax system; dividends distributed to shareholders are tax-free.

Extensive Tax Treaty Network Singapore has signed double taxation agreements with more than 80 countries, helping to reduce or eliminate cross-border taxes.

Industry-Specific Incentives Generous support programs exist for innovation, green energy, and digital transformation initiatives.

5. Hiring Employees and Compliance Management

Once the company is operational, employers must also manage human resources and comply with local regulations

Employment Contracts Must adhere to Singapore’s Employment Act, clearly outlining salary, benefits, and working hours.

CPF Contributions Employers are required to contribute to the Central Provident Fund CPF for local employees. Foreign workers follow different social security guidelines.

Annual Compliance Obligations Include preparing audited financial statements, holding an Annual General Meeting AGM, and submitting annual returns to ACRA.

6. Utilizing Professional Services

For those unfamiliar with Singapore’s regulatory environment, engaging professional service providers-such as corporate secretaries, accountants, or legal advisors-is highly recommended. These experts can assist with registration, tax planning, compliance, and other value-added services, ensuring smooth and lawful business operations.

Conclusion

In today’s fiercely competitive global economy, Singapore remains one of Asia’s most dynamic business hubs. Whether you’re launching a startup or expanding an established enterprise, thorough preparation and adherence to local laws will enable you to establish a solid presence on this international stage and unlock greater opportunities ahead.