Want to Start a Company in Singapore? Know These Biz Registration Requirements First!

Thinking of Registering a Company in Singapore? Understand These Requirements and Take the First Step with Confidence!

In recent years, as global economic integration deepens, more entrepreneurs and investors are turning their attention to overseas markets. As one of Asia's most competitive business hubs, Singapore has become the top choice for many international companies looking to establish overseas operations. This is thanks to its stable environment, efficient services, strategic location, and highly attractive tax policies.

According to data released by Enterprise Singapore in 2025, despite global economic uncertainties, the number of new businesses registered in Singapore continued to grow throughout the year, with a significant increase in the proportion of foreign-invested enterprises. This clearly shows that Singapore remains fertile ground for entrepreneurs worldwide.

So, what basic requirements must be met to register a company in Singapore? Below, we break it down step by step to help you confidently take your first steps toward entrepreneurship.

1. Determine Your Company Type and Structure

Before registering a company in Singapore, it’s essential to decide which type of business you plan to set up.

The most common form is a Private Limited Company Pte Ltd. It has a separate legal identity, offers limited liability to shareholders, and is suitable for most small and medium-sized businesses and startups.

Other common business structures include

Sole Proprietorship Suitable for individual owners, easy to register, but the owner bears unlimited liability.

Partnership Operated jointly by two or more partners; does not have independent legal status.

Representative Office Designed for foreign companies conducting market research in Singapore, but cannot engage in profit-making activities.

For companies aiming for long-term growth and investment attraction, a Private Limited Company is the most recommended structure.

2. Meet Shareholder and Director Requirements

Singapore has clear regulations regarding company shareholders and directors

At least one local resident director is required. This can be a Singapore citizen, permanent resident, or someone holding an Employment Pass EP and residing in Singapore.

A company can be 100% foreign-owned, meaning no requirement for local shareholders.

The maximum number of shareholders is 50.

You may appoint a company secretary, or outsource this role to a professional service provider.

This means even if you don’t hold Singaporean residency, you can still legally register and operate a company there by appointing a compliant local director.

3. Prepare Capital and Open a Bank Account

Under Singapore company law, the minimum paid-up capital required at registration is just SGD 1, with no upper limit. Funds can be increased anytime later.

Importantly, there is no need to fully pay up the capital at the time of registration - it simply needs to be stated in the company’s constitution.

After registration, you’ll need to open a local bank account in Singapore to manage daily financial transactions. Banks such as DBS, OCBC, and UOB offer convenient account opening services, some of which support remote video interviews, making it easier for overseas clients.

4. Efficient and Transparent Registration Process

Singapore’s company registration process is known for being fast and transparent, typically completed within 1 to 3 working days.

Key steps include

1. Company Name Approval Submit your proposed name to the Accounting and Corporate Regulatory Authority ACRA to ensure it’s available.

2. Prepare Registration Documents Including the company constitution, shareholder and director details, and registered address.

3. Submit Application Online Through ACRA’s online portal.

4. Receive Business License Upon approval, the company will receive a Unique Entity Number UEN, granting full operational rights.

The entire process can be handled by a professional registration agent, saving you time and effort.

5. Benefit from Favorable Tax Policies

Singapore is well-known for its low corporate tax rates and extensive network of tax treaties, attracting multinational corporations from around the world.

Key highlights include

A flat corporate tax rate of only 17%, with tax exemptions on the first SGD 300,000 of taxable income.

Eligible startups may enjoy up to three years of tax exemption.

Singapore follows a single-tier tax system, meaning dividends distributed to shareholders are not taxed again.

Over 80 Double Taxation Agreements DTAs with countries worldwide facilitate cross-border business.

These policies make Singapore an ideal base for international trade, logistics, technology, and finance.

6. Recent Policy Updates and Development Trends

At the end of 2025, the Monetary Authority of Singapore MAS and the Ministry of Manpower announced new measures aimed at further improving the business environment, streamlining the process for hiring foreign talent, and encouraging high-value industries to set up in Singapore.

For example, the Tech Pass initiative provides more convenient residency and work permits for tech professionals and entrepreneurs worldwide.

Additionally, to keep pace with digitalization, Singapore has been actively developing e-government services. Today, almost all company registration and tax filing procedures can be completed online, significantly enhancing efficiency and transparency.

Conclusion

If you're considering expanding into international markets, Singapore is undoubtedly an ideal starting point. With world-class infrastructure, a robust legal framework, and comprehensive business support services, setting up a company here doesn’t have to be complicated.

By understanding and fulfilling the above requirements, you can smoothly complete the registration process. With the assistance of professional service providers, even first-time entrepreneurs can quickly establish a presence in Singapore and begin a new chapter of global expansion.