Singapore Company Registration Key Requirements Process Analysis

Registering a Company in Singapore Essential Requirements and Procedures You Must Know

In recent years, as global economic integration has accelerated, more and more international investors have turned their attention to the Southeast Asian market. As a regional financial and business hub, Singapore has become the top choice for many companies looking to establish overseas operations, thanks to its stable environment, efficient legal system, and strategic geographical location.

Especially since 2025, with multinational companies speeding up their expansion into the Asia-Pacific market, business registrations in Singapore have continued to rise. According to the latest data from the Accounting and Corporate Regulatory Authority ACRA, the number of newly registered companies in Singapore increased by more than 12% year-on-year in the first half of 2025, with a significant rise in the proportion of foreign-invested enterprises.

If you are also considering registering a company in Singapore, it is essential to understand the relevant requirements and registration procedures before taking your first step.

1. Basic Requirements for Registering a Company in Singapore

1.1 Shareholders and Directors

Under the Singapore Companies Act, at least one shareholder and one director are required to register a company. Directors must be at least 18 years old. Importantly, there must be at least one local director, who can be a Singapore citizen, permanent resident, or a foreigner holding a valid Employment Pass. Shareholders can be individuals or corporate entities, with no restrictions on nationality.

1.2 Registered Address

The company must have a registered office address in Singapore. This must be a physical address, not a P.O. Box. Many startups fulfill this requirement by using a registered agent or a shared office space.

1.3 Company Secretary

By law, all Singapore companies must appoint a company secretary within six months of incorporation. The secretary must be a Singapore resident and is often provided by a professional service firm.

1.4 Minimum Share Capital

There is no minimum capital requirement for company registration in Singapore. Investors can set the authorized capital according to actual needs. A common practice is to issue 100 shares at S$1 each, resulting in an authorized capital of S$100.

1.5 Business Activities

At the time of registration, the company must clearly define its primary business scope, with a maximum of two main business categories. If the business scope changes later, it can be updated via ACRA.

2. Detailed Registration Process

2.1 Company Name Approval

Before formal registration, you must submit a company name application through ACRA’s online platform. The name must comply with regulations, must not duplicate an existing company name, and should not contain sensitive words. Typically, the approval process can be completed within minutes.

2.2 Prepare Registration Documents

This includes identity and address proofs for shareholders and directors, the company’s constitution, business scope, and other relevant documents. For foreign investors, it is common to engage a registration agent to assist in preparing these documents.

2.3 Submit Registration Application

The application is submitted via ACRA’s BizFile+ system and is completed entirely online. After submission, the company registration result is usually received within one business day.

2.4 Open a Corporate Bank Account

Once the company is successfully registered, you can proceed to open a corporate bank account. Singapore is home to several internationally renowned banks, such as DBS Bank, OCBC Bank, and UOB, which offer efficient corporate banking services. Some banks allow remote account opening, but typically require the director to be present in Singapore for identity verification.

2.5 Apply for Relevant Licenses or Visas

If the company operates in specific sectors such as finance, education, or healthcare, additional licenses must be obtained from the relevant regulatory authorities. If you plan to work in Singapore long-term, you may consider applying for an Employment Pass EP or an Entrepreneur Pass EntrePass.

3. Key Matters After Registration

3.1 Tax Registration

Singapore implements a low-tax regime, with the maximum corporate income tax rate at 17%. Newly registered companies must register for Goods and Services Tax GST with the Inland Revenue Authority of Singapore IRAS within one month of incorporation. Companies with an annual turnover below S$1 million may opt out of GST registration.

3.2 Annual Reporting and Auditing

All Singapore companies are required to submit annual financial statements and an Annual Return to ACRA each year. Companies that meet the small company criteria e.g., annual revenue not exceeding S$10 million may be exempt from audit.

3.3 Employment Compliance

If you plan to hire local or foreign employees, you must comply with regulations from the Ministry of Manpower MOM, including work permit applications and CPF contributions.

4. Why Choose Singapore?

In addition to the above regulatory advantages, Singapore offers multiple incentives to attract foreign investment. For example, it provides tax exemptions and startup grants for new businesses; its financial system is highly open, facilitating cross-border capital flows. Moreover, Singapore has signed double taxation avoidance agreements with over 80 countries worldwide, supporting international business expansion.

According to the latest World Bank report on the ease of doing business, Singapore consistently ranks among the top globally, particularly excelling in indicators such as starting a business, obtaining construction permits, and cross-border trade.

Conclusion

Registering a company in Singapore is not just a business decision but a crucial step in a company’s global strategy. As Singapore continues to improve its business environment and administrative efficiency, more and more companies are expected to choose this location to establish their presence.

If you are planning to expand into overseas markets, consider including Singapore in your business map and seize the vast opportunities this vibrant land has to offer.