Startup Guide Singapore How to Register a Company Apply for Status? All You Need to Know

Understanding How to Obtain Residency and Register a Company in Singapore

In today’s globally integrated economy, an increasing number of entrepreneurs and investors are turning their attention overseas-especially to countries with strong business environments, transparent policies, and robust legal systems. Singapore, as one of the world’s most competitive economies, stands out not only for its excellence in finance, technology, and trade but also for its efficient administrative system and business-friendly environment, which attract numerous international companies.

For those considering setting up in Singapore, understanding how to obtain residency and register a company is the first step. This article will walk you through the latest information on the process and advantages of obtaining residency and registering a business in Singapore.

1. Singapore’s Business Advantages

Singapore has consistently ranked among the top countries in the World Bank’s Ease of Doing Business Index. In the 2025 report, it came in second globally, just behind New Zealand. Its business advantages include

1. Low Tax Rates and Incentives

The maximum corporate income tax rate in Singapore is only 17%, and personal income tax is also relatively low. Additionally, newly established companies can benefit from tax exemptions for their first three years, significantly reducing the financial burden on startups.

2. Status as a Global Financial Hub

As a key financial center in Asia, Singapore offers a well-developed financial infrastructure and open capital markets. It is a preferred location for multinational corporations setting up regional headquarters.

3. Efficient and Transparent Services

Business registration in Singapore is simple and fast. According to data from the Accounting and Corporate Regulatory Authority ACRA, most companies can complete the registration process within one hour.

4. Multicultural Environment and Global Talent

Singapore is a multilingual, multiethnic society where English is one of the official languages. This makes it an ideal place for international businesses. The country also actively encourages the recruitment of high-level talent to support innovation and technological development.

2. How to Obtain Residency in Singapore

For those looking to stay and work in Singapore long-term, securing legal residency is essential. The main pathways include

1. Employment Pass EP

The most common work visa, the Employment Pass is intended for professionals, managers, and executives. Applicants must hold at least a university degree, and employers must demonstrate that no suitable local candidate is available for the role. In 2025, the Ministry of Manpower MOM raised the salary and qualification requirements to ensure only high-skilled individuals are admitted.

2. Entrepreneur Pass EntrePass

Designed for foreign entrepreneurs, the EntrePass requires applicants to submit a viable business plan and pass a review process. Successful applicants receive a one-year work pass, which can be renewed or converted into permanent residency based on business performance.

3. Global Investor Program GIP

This program is aimed at high-net-worth individuals who wish to invest in Singapore. Applicants must commit at least SGD 2.5 million to establish or invest in a qualifying business. In recent years, this program has attracted many investors from China, India, and other regions.

4. Permanent Resident PR Application

After working in Singapore for a period, individuals may apply for PR status through employer sponsorship or family reunification. PRs enjoy most of the benefits of local residents, including healthcare and education, and can eventually apply for citizenship.

3. How to Register a Company in Singapore

Registering a company in Singapore is a straightforward process, typically completed within 1-3 days. Here are the key steps

1. Determine the Company Structure

The most common structure is a Private Limited Company Pte Ltd, which has a separate legal identity and limited liability for shareholders. Other options include branches, joint ventures, and representative offices, but the private limited structure remains the most popular.

2. Choose a Company Name

Before proceeding, the proposed company name must be checked and approved via ACRA’s online portal. It must not be duplicated or contain sensitive words.

3. Submit Registration Documents

Required documents include

Company Constitution Articles of Association

Identity proof of directors and shareholders

Proof of registered address

Appointment of a local resident company secretary can be outsourced to a professional service

4. Open a Corporate Bank Account

After registration, a company bank account can be opened at a local bank. Many banks offer online account opening services, making the process convenient.

5. Complete Tax Registration

Within one month of incorporation, the company must apply for a Unique Entity Number UEN from the Inland Revenue Authority of Singapore IRAS. Depending on the business type, additional registrations such as Goods and Services Tax GST may also be required.

4. Practical Tips and Considerations

Use Professional Services

Although the registration process is simple, first-time entrepreneurs may benefit from using a professional service to avoid delays due to unfamiliarity with the process.

Monitor Policy Changes

Singapore regularly updates its immigration and business regulations. It’s important to stay informed by checking official websites such as MOM and IRAS.

Plan Your Tax Structure Carefully

While Singapore’s tax system is transparent, proper structuring of your business and tax planning can further reduce your tax liabilities.

Focus on Local Operations

Even though Singapore is a global city, the local market has its own unique characteristics. Conducting thorough market research and building a local team before entering the market is highly recommended.

5. Conclusion

With its excellent business environment, efficient services, and stable legal framework, Singapore has become a top destination for entrepreneurs and investors worldwide. Whether it’s obtaining residency or setting up a company, following the right procedures and strategies can ensure a smooth start.

As the global economic landscape continues to evolve, Singapore will remain a vital bridge connecting East and West, offering international businesses countless opportunities. For those looking to expand beyond their home markets, now is the perfect time to explore and establish a presence in Singapore.