Essential Guide to Company Registration in Singapore Requirements Process Explained

A Guide to Registering a Company in Singapore Requirements and Procedures You Must Know

In recent years, with the deepening of global economic integration, more and more entrepreneurs and businesses have chosen to expand overseas. Singapore, with its strategic location, stable environment, efficient legal system, and open economic policies, has become a top destination for many investors looking to set up offshore companies. According to data released by Enterprise Singapore, the number of newly registered businesses in Singapore increased by more than 12% year-on-year in 2025, demonstrating strong entrepreneurial vitality and investment appeal.

If you are planning to register a company in Singapore, understanding the relevant requirements and procedures is the key to taking your first successful step. This article provides a detailed explanation of the main conditions and steps for registering a company in Singapore, helping you complete the process efficiently and in compliance with local regulations.

I. Basic Requirements for Registering a Company in Singapore

1. Company Name Approval

Before formal registration, you must submit a company name application to the Accounting and Corporate Regulatory Authority ACRA to ensure the name is unique and complies with regulations. The name must not include sensitive words or resemble official government entities.

2. Shareholder and Director Requirements

A Singapore company must have at least one local director, who can be a Singapore citizen, permanent resident, or a foreigner holding an Employment Pass or S Pass. Shareholders can be individuals or corporate entities without nationality restrictions. Foreign investors can register a company by setting up a 100% owned subsidiary or partnering with a local shareholder.

3. Capital Requirements

There is no minimum capital requirement for companies in Singapore. Capital can be in any currency, and it is generally recommended to set it below 1 million SGD to avoid unnecessary tax scrutiny.

4. Registered Address

The company must have a valid physical office address in Singapore; a P.O. Box is not acceptable.

5. Company Secretary and Auditor

Within six months of incorporation, the company must appoint a company secretary responsible for compliance matters. If the company’s annual revenue exceeds 1 million SGD or total assets exceed 10 million SGD, it must also appoint a registered auditor.

II. Key Steps to Register a Company in Singapore

Step 1 Prepare Company Documents

Gather essential information including the company name, shareholder and director identification, capital structure, and business scope. It is advisable to prepare a clear business plan to support your application.

Step 2 Submit Company Name Application

Use ACRA’s BizFile+ system to submit the company name for approval. Results are usually available within one hour.

Step 3 Register the Company Entity

Once the name is approved, proceed with submitting the company registration documents via BizFile+. These include the company constitution, director and shareholder details, and registered address. Registration is typically completed within one business day.

Step 4 Open a Corporate Bank Account

After successful registration, apply to open a corporate bank account with a local or international bank in Singapore. Requirements may vary, but generally include the certificate of incorporation, director identification, and business plan.

Step 5 Apply for Relevant Licenses and Permits

Depending on the nature of the business, you may need to apply for specific licenses from regulatory bodies. For example, financial services require approval from the Monetary Authority of Singapore MAS, while food-related businesses must obtain permits from the National Environment Agency NEA.

Step 6 Tax Registration and Compliance

Register with the Inland Revenue Authority of Singapore IRAS for tax purposes, including obtaining a Unique Entity Number UEN and registering for Goods and Services Tax GST if applicable. Ensure timely submission of annual financial statements and tax returns to maintain compliance.

III. Advantages and Challenges of Registering a Company in Singapore

Advantages

Tax Incentives The corporate income tax rate is capped at 17%, with full tax exemption on the first 100,000 SGD of profits.

Business-Friendly Environment Singapore consistently ranks high in global ease of doing business indices and offers strong government support for enterprises.

Global Financial Hub With a well-developed financial system and liberal foreign exchange policies, Singapore facilitates smooth cross-border capital flows.

Visa Convenience After company registration, entrepreneurs can apply for an Employment Pass or EntrePass, enabling long-term residency and business expansion.

Challenges

Strict Compliance Requirements While the registration process is straightforward, ongoing compliance, especially in financial reporting and tax filings, can be demanding.

Intense Market Competition As a global investment hub, Singapore features a highly competitive market. Businesses must have a clear business model and differentiation strategy to succeed.

IV. Conclusion

As Singapore continues to attract global capital and talent, company registration has become an increasingly popular option for entrepreneurs worldwide. However, successful registration is only the first step. The real challenge lies in achieving sustainable business growth within a compliant framework.

It is highly recommended to thoroughly understand the relevant policies before proceeding or to seek assistance from professional service providers to ensure a smooth and efficient process. Whether you are a startup or a multinational corporation, Singapore offers an open, transparent, and efficient business environment. With thorough preparation and a clear strategy, you can realize your business dreams in this Garden City.