Starting a Company in Singapore? Know These Registration Requirements Details First!

What You Need to Know to Register a Company in Singapore

In recent years, as globalization has deepened, more and more small and medium-sized entrepreneurs have turned their attention overseas-particularly to countries with stable business environments and transparent policies like Singapore. As one of Asia’s most competitive business hubs, Singapore continues to attract international investors with its low tax rates, efficient services, and strong legal framework.

According to data released by the Accounting and Corporate Regulatory Authority ACRA, the number of newly registered companies in Singapore increased by nearly 12% year-on-year in the first quarter of 2025, reflecting the country’s ongoing appeal. If you're considering setting up a company in Singapore, what key conditions and details should you be aware of? This article will walk you through the registration process, legal requirements, tax policies, and company structure choices.

1. Choosing the Right Company Structure

The first step is to decide on the type of company you wish to register. The most common structure is a Private Limited Company Pte Ltd, which is the preferred choice for most foreign investors. Benefits include

Limited liability for shareholders

Easier access to financing

Greater appeal to international investors

Other options include setting up a branch office, partnership, or Limited Liability Partnership LLP. For foreign companies, establishing a subsidiary Pte Ltd is often more advantageous. As a separate legal entity, it can benefit from local tax incentives and offers legal separation from the parent company, reducing risk.

2. Basic Requirements for Company Registration

To register a company in Singapore, the following conditions must be met

Company Name Must be pre-approved through ACRA’s website to ensure it's unique and complies with regulations.

Directors and Shareholders At least one director must be a Singapore resident citizen, permanent resident, or Employment Pass holder. The company can have between 1 and 50 shareholders, who can be individuals or corporate entities.

Company Secretary Must be appointed within 6 months of incorporation and must be a Singapore resident.

Registered Address A physical Singapore address is required-P.O. boxes are not acceptable.

Paid-up Capital The minimum is 1 Singapore dollar. No minimum capital is required, but it should be set based on actual business needs.

3. Registration Process Overview

The registration process typically follows these steps

1. Name Application Submit the desired company name via ACRA’s website. Approval usually takes just a few minutes.

2. Prepare Documents Includes the company’s constitution Memorandum and Articles of Association, identity documents of shareholders and directors, and proof of registered address.

3. Submit Registration File the application electronically through ACRA’s BizFile+ system. Incorporation is usually completed within one business day.

4. Open a Bank Account After registration, you can open a corporate bank account in Singapore. It’s recommended to schedule an appointment with the bank in advance.

5. Apply for Licenses Depending on the industry, additional permits may be required from regulators such as the Monetary Authority of Singapore MAS or the Singapore Food Agency SFA.

4. Tax Benefits

Singapore’s tax system is a major draw for foreign investors. The corporate income tax rate is 17%, and new companies enjoy tax exemptions for their first three years. For example, in 2025, qualifying startups can enjoy

Tax exemption on the first S$100,000 of taxable income

8.5% tax on the next S$200,000

Singapore follows a territorial tax system, meaning only income earned in Singapore is taxed. Foreign-sourced income that is not repatriated to Singapore is generally not taxed. In addition, Singapore has signed more than 80 double taxation agreements globally, helping to reduce cross-border tax burdens.

5. Work Visas and Hiring Foreign Employees

If you plan to manage the company in person, you’ll typically need to apply for an Employment Pass EP. Requirements include salary thresholds, qualifications, and industry relevance. From 2025, the minimum salary for an EP has increased depending on the applicant’s background and industry.

If you plan to hire foreign workers, you’ll need to apply for passes such as the S Pass or Work Permit, and comply with regulations from the Ministry of Manpower MOM. Employers are also required to pay the Foreign Worker Levy.

6. Ongoing Compliance and Maintenance

After registration, your company must fulfill several compliance requirements

Annual Return filing with ACRA

Annual General Meeting AGM

Maintenance of complete financial records, and audit by a certified accountant unless exempt

Timely filing of corporate income tax

Small businesses with annual revenue under S$1 million may qualify for audit exemption, significantly reducing compliance burden.

7. Importance of Professional Services

Although the registration process in Singapore is straightforward, foreign investors may still face challenges due to language barriers, legal differences, and cultural nuances. It’s advisable to engage a professional incorporation agency or accounting firm to assist with the process. This ensures compliance and saves time.

Conclusion

Singapore offers a favorable environment for business setup, but success requires careful understanding of legal, tax, and compliance requirements. By choosing the right company structure, understanding the registration process, and planning your tax strategy wisely, you’ll lay a strong foundation for long-term growth.

Whether you're a startup or an established business looking to expand overseas, Singapore is definitely worth serious consideration.