Singapore Company Registration Annual Filing Guide Step-by-Step Instructions to Successfully Complete Every Process!

How to Successfully Register a Company in Singapore and Complete the Annual Filing? A Comprehensive Guide to the Registration and Annual Compliance Process

In recent years, as the global economic landscape continues to evolve, more entrepreneurs and investors have turned their attention to Southeast Asian markets. As one of the world's most competitive economies, Singapore has attracted a large number of international businesses with its stable environment, strategic location, efficient business climate, and favorable tax policies.

According to data released by the Accounting and Corporate Regulatory Authority ACRA in early 2025, the number of newly registered local companies increased by more than 7% year-on-year over the past year, with a significant rise in the proportion of foreign-invested enterprises. This trend indicates that Singapore remains one of the most popular business hubs in Asia.

For entrepreneurs looking to establish a business in Singapore, how can they smoothly register a company and ensure the annual compliance process is completed on time each year? This article will provide a detailed explanation of the registration procedures, required documents, and annual filing requirements, helping you fully understand the establishment and maintenance processes for a Singapore-based company.

1. Basic Requirements for Company Registration in Singapore

Before officially starting the registration process, applicants must meet several basic conditions

1. Company Name Approval

Submit an application for the company name to ACRA to ensure it is not already taken and complies with relevant regulations.

2. Shareholder and Director Requirements

At least one shareholder and one director are required. The director must be a natural person aged 18 or older, and at least one director must be ordinarily resident in Singapore e.g., a Singapore citizen, permanent resident, or a professional holding an Employment Pass.

3. Paid-Up Capital

There is no minimum capital requirement in Singapore; typically, a company may be incorporated with just SGD 1 or more.

4. Registered Address

The company must have a valid local office address in Singapore.

5. Company Secretary

Within six months of incorporation, the company must appoint a qualified company secretary.

2. Detailed Steps for Company Registration

Registering a company in Singapore involves the following key steps

1. Prepare Required Documents

These include the proposed company name, identity proofs of shareholders and directors, the registered address, and the company’s constitution. For foreign investors, passport copies and relevant authorization documents may also be needed.

2. Submit Company Name Application

Apply for the company name via ACRA’s official website. Approval is usually obtained within minutes.

3. Register the Company and Obtain Business License

After approval of the name, complete Form SP, submit all required documents, and pay the registration fee through an online payment system. The entire registration process typically takes 1-2 working days.

4. Open a Corporate Bank Account

Once the company is registered, you can open a corporate bank account with major banks in Singapore such as DBS Bank, OCBC Bank, or UOB. Some banks offer remote account opening services for overseas clients.

5. Apply for Unique Entity Number UEN

All registered companies automatically receive a UEN from the government, which is used for tax filings and other administrative purposes.

3. Annual Filing and Compliance Requirements

Singapore-based companies are required to fulfill certain annual compliance obligations, primarily including the Annual Return filing and financial statement audits if applicable

1. Annual Return Filing Form AR

Under the Companies Act, all registered companies must hold an Annual General Meeting AGM within 30 days after the end of the financial year and file the Annual Return Form AR with ACRA within 60 days. The return includes

Updated information about directors and shareholders

Changes to the registered address

Summary of financial performance

Small private companies may be exempt from submitting full financial statements. Failure to submit the Annual Return on time may result in the company being classified as non-compliant, leading to penalties or even compulsory deregistration.

2. Tax Filing

Singapore follows a territorial tax system, meaning companies are taxed only on income sourced within Singapore. Key tax filings include

Corporate Income Tax Form C-S/Form C Submission of taxable income for the previous financial year to IRAS.

Goods and Services Tax GST Filing If a company’s annual turnover exceeds SGD 1 million, it must register for GST and file returns quarterly.

3. Audit Requirement

Unless exempt, all companies must engage an independent auditor to review their financial statements annually. Exemption criteria for small private companies include

Annual revenue not exceeding SGD 10 million

Total assets not exceeding SGD 10 million

Employee count not exceeding 50

4. Common Issues and Important Considerations

During the practical implementation, many startups tend to overlook the following points

Missing Annual Filing Deadlines Set up reminders to avoid damaging your company’s credibility due to late submissions.

Failure to Update Company Information Any changes in directors, shareholders, or registered address should be reported to ACRA within 14 days.

Unawareness of Tax Incentives Singapore offers various tax relief programs, such as the Startup Tax Exemption Scheme. Proper utilization of these incentives can significantly reduce operating costs.

While there are no restrictions on foreigners setting up companies in Singapore, practical operations often involve considerations such as hiring local staff or leasing office space. It is advisable to consult professional advisors before registration to ensure your overall plan aligns with your long-term goals.

5. Conclusion

Overall, the process of registering a company and completing annual compliance in Singapore is relatively efficient and transparent, making it particularly suitable for small and medium-sized enterprises SMEs aiming to expand into the Southeast Asian market.

By understanding the correct procedures and fulfilling compliance obligations on time, businesses can grow steadily on this international platform. Whether during the initial registration phase or subsequent annual compliance management, thorough planning and preparation lay a solid foundation for sustainable business development.