What Are the Requirements for Company Registration in Singapore? A Detailed Guide to Help You Get Started

What Are the Requirements for Company Registration in Singapore? A Comprehensive Guide to Help You Get Started

In recent years, as global economic integration deepens, more and more entrepreneurs and investors have turned their attention to the Southeast Asian market. As one of the world's most competitive economies, Singapore has attracted a large amount of international capital with its stable environment, strategic geographical location, efficient services, and favorable tax policies.

According to the latest data released by the Accounting and Corporate Regulatory Authority ACRA, the number of new company registrations in Singapore increased by over 12% year-on-year in the first quarter of 2025, indicating a continuously vibrant entrepreneurial ecosystem.

If you are also considering registering a company in Singapore, understanding the registration process and related requirements is essential. This article will provide a detailed explanation covering basic requirements, registration procedures, and tax policies, helping you take your first step into entrepreneurship more efficiently.

I. Basic Requirements for Company Registration

To legally establish a company in Singapore, the following basic conditions must be met

1. At Least One Local Director

According to the Singapore Companies Act, all private limited companies must appoint at least one director who is a natural person aged 18 or above and is either a Singapore citizen, permanent resident, or holder of a valid Employment Pass. Other directors may be foreigners.

2. Company Secretary

Within six months of incorporation, a qualified company secretary must be appointed. The secretary should possess relevant legal knowledge and be familiar with corporate governance requirements.

3. No Minimum Share Capital Requirement

There is no minimum capital requirement in Singapore. Shareholders can freely decide on the amount of capital contribution, usually denominated in Singapore dollars SGD. Additional capital can be injected during business operations.

4. Registered Address in Singapore

The company must have a valid local address in Singapore-not a P.O. Box-for receiving official correspondence and legal documents.

5. Shareholder Limit

A private limited company can have up to 50 shareholders, and at least one shareholder must be an individual not a corporate entity.

6. Business Activities

At the time of registration, the main business scope must be clearly stated, typically limited to two primary categories. If future expansion is needed, the company’s constitution can be amended accordingly.

II. Overview of the Registration Process

The process of registering a company in Singapore is relatively straightforward and efficient, often completed within a few days. The key steps are as follows

1. Name Approval

Submit the proposed company name via ACRA’s website to ensure it is available and complies with naming guidelines.

2. Prepare Required Documents

Gather necessary documents such as identity and address proofs of shareholders and directors, draft of the company’s constitution, and business activity descriptions. Authorization letters are required if foreign entities are involved.

3. Submit Application Online

Once all documents are ready, submit the application through ACRA’s BizFile+ system and pay the corresponding fees.

4. Receive Certificate of Incorporation

Upon approval, the Certificate of Incorporation will be issued, marking the formal establishment of the company.

5. Open a Corporate Bank Account

With the certificate, you can proceed to open a corporate bank account in Singapore to facilitate business activities.

III. Tax Benefits and Incentive Programs

Singapore is renowned for its low tax rates and pro-business environment. For startups, these tax incentives are especially attractive. Examples include

Corporate Income Tax The standard rate is 17%, but newly incorporated companies can benefit from the Startup Tax Exemption Scheme, which provides full tax exemption on the first SGD 100,000 of taxable income for the first three years.

Personal Income Tax The highest marginal tax rate is 22%, significantly lower than many developed countries.

No Capital Gains or Inheritance Tax, further enhancing investment appeal.

Additionally, Singapore offers various industry-specific incentive programs, such as RD grants and international trade incentives, providing strong support for business growth.

IV. Frequently Asked Questions

Q Can a foreigner register a 100% owned subsidiary in Singapore?

A Yes. Singapore allows 100% foreign ownership without requiring a local partner.

Q Is a physical office space mandatory for company registration?

A No. However, a valid local registered address is required.

Q How soon can business commence after registration?

A Once the Certificate of Incorporation is obtained and the corporate bank account is opened, the company can begin operations immediately.

V. Conclusion

As one of Asia’s most dynamic financial and business hubs, Singapore offers entrepreneurs not only a conducive business environment but also a range of policies that lower entry barriers for businesses. Whether you are an international enterprise looking to expand into Southeast Asia or a Chinese SME seeking overseas development, Singapore presents an ideal choice.

As long as you meet the basic registration requirements and follow the proper procedures, setting up a company in Singapore is not complicated. With the assistance of professional service providers, the entire process can be even smoother and more efficient.

We hope this guide provides you with clear direction and helps you successfully launch your entrepreneurial journey in Singapore.