Key Things You Must Know After Registering a Company in Singapore

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Key Things You Need to Know After Registering a Company in Singapore

Successfully registering a company in Singapore marks a significant milestone in your entrepreneurial journey. However, completing the registration is just the beginning. The real challenge lies in managing the company’s compliance and daily operations effectively.

For many startups and entrepreneurs, navigating the post-registration process - from complying with local regulations to maintaining smooth business operations - can be a complex but essential task.

According to the latest data released by the Accounting and Corporate Regulatory Authority ACRA, the number of new company registrations in Singapore continued to grow in 2025, particularly in sectors such as technology, finance, and green energy. This shows that despite a complex global economic environment, Singapore remains one of the top destinations for entrepreneurs and businesses setting up overseas.

At the same time, more companies are beginning to realize that compliance and management after registration are just as important as the registration itself.

So, what are the key steps you must take right after company registration?

1. Open a Corporate Bank Account

One of the first things to do after registering your company is to open a local bank account. Singapore’s banking system is highly developed, with major banks such as DBS, OCBC, and UOB offering services tailored to new businesses.

When applying for a corporate account, banks typically require documents such as the company’s Certificate of Registration, Constitution, directors’ identification, and a business plan. Some banks may also require directors to be physically present in Singapore for a face-to-face interview.

It’s advisable to prepare the necessary documents as soon as possible and schedule an appointment with your preferred bank early.

2. Apply for Industry Licenses or Permits

Singapore has a strict regulatory framework, and depending on your business activities, you may need to obtain specific licenses or permits.

For example, if your company is in the food, education, healthcare, or financial services industry, you must apply for the relevant license from the appropriate government agency.

Take the food industry as an example according to the Singapore Food Agency SFA, all food businesses must hold a valid Food Establishment License and comply with strict hygiene and safety standards.

Similarly, if your business involves import or export activities, you’ll need to apply for an import/export license through Enterprise Singapore.

3. Understand and Fulfill Tax Obligations

Singapore’s tax system is known for its low tax rates and transparency. However, businesses are expected to meet their tax reporting obligations accurately and on time.

Once your company is registered, it will be automatically included in the Inland Revenue Authority of Singapore IRAS system and assigned a Unique Entity Number UEN.

New companies are generally required to submit their first set of financial statements and a tax return Form C-S or Form C within 18 months of incorporation. If your annual revenue exceeds SGD 1 million, you will also need to register for Goods and Services Tax GST and start collecting and paying GST accordingly.

For startups, proper tax planning and timely filing not only help avoid penalties but can also reduce overall operating costs.

4. Establish Corporate Governance and Compliance Procedures

Singapore has clear legal requirements for corporate governance, especially for private limited companies Pte. Ltd..

Your company must have at least one director who is a Singapore resident and must appoint a company secretary. The company secretary must be a qualified professional, such as a certified accountant, lawyer, or licensed corporate secretary.

You are also required to hold regular board and shareholder meetings, and to keep detailed minutes of these meetings.

Additionally, every year you must submit an Annual Return and audited or unaudited, depending on eligibility financial statements to ACRA. Failure to meet these obligations can result in fines or even the compulsory removal of your company from the registry.

5. Set Up Human Resources and Employment Policies

If you plan to hire employees in Singapore, you must comply with regulations set by the Ministry of Manpower MOM.

First, you need to set up Central Provident Fund CPF accounts for your employees and make timely contributions. Second, all foreign employees must hold the appropriate work pass, such as an Employment Pass EP, S Pass, or Work Permit WP.

Singapore’s labor laws are strict when it comes to protecting employee rights. Employers must follow the Employment Act, which covers areas such as working hours, annual leave, medical leave, and procedures for termination.

Before hiring, it’s wise to consult with a professional HR advisor or legal expert to ensure your employment policies are compliant.

6. Develop a Business and Marketing Strategy

Once your company is registered and your compliance obligations are in place, it’s time to focus on growing your business.

While Singapore’s market is open and globally connected, competition is intense. Whether you're targeting local or international clients, building brand awareness and implementing effective marketing strategies are essential.

You can leverage online platforms such as social media and Google Ads, as well as offline events like industry exhibitions and networking sessions to promote your business.

Additionally, you can take advantage of various government support programs, such as the Startup SG initiative offered by Enterprise Singapore, which provides funding, mentorship, and market access opportunities for startups.

In Summary

Registering a company in Singapore is just the first step in a long journey. What truly determines the success or failure of your business is how well you manage compliance, grow your operations, and maintain consistent performance.

By understanding and addressing these key post-registration tasks, you can lay a solid foundation for your business to thrive in Singapore’s dynamic and competitive environment.

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