Things to Know When Registering a Company in Singapore A Step-by-Step Guide to Understanding the Benefits and Process

Why More and More Businesses Are Choosing to Register in Singapore

As one of the world’s leading business hubs, Singapore has attracted a growing number of international investors and entrepreneurs in recent years. Whether it's a startup or a multinational corporation, setting up a company in Singapore has become an increasingly popular option. But why are more and more people choosing Singapore as their preferred location for company registration? And is the registration process complicated? This article will guide you through the benefits and procedures of registering a company in Singapore, with insights from recent news, to help you better understand this opportunity.

1. Advantages of Company Registration in Singapore

Singapore’s popularity among global businesses stems from its attractive policies and favorable business environment.

First, the tax benefits are significant.

The maximum corporate income tax rate in Singapore is just 17%, much lower than many developed countries. Additionally, Singapore operates a territorial tax system - meaning only income earned within Singapore is taxed. Overseas income is tax-free as long as it is not repatriated to Singapore. Newly established companies can also enjoy tax exemption schemes for the first three years, which is especially beneficial for startups.

Second, it strongly supports entrepreneurship and innovation.

The Monetary Authority of Singapore MAS and the Economic Development Board EDB have continuously rolled out various support programs to encourage startups in sectors like technology, finance, and green energy. For example, in early 2025, Singapore announced an expansion of its Enterprise Development Grant EDG, offering financial support for small and medium-sized enterprises SMEs in areas such as RD and market expansion.

Third, Singapore offers an efficient business environment and a stable legal system.

According to the World Bank’s 2025 Doing Business report, Singapore ranks consistently at the top globally for ease of doing business. Its legal system is well-developed, and contract enforcement is fast and reliable, which translates to lower operational risks and greater transparency for businesses.

Finally, Singapore’s strategic location connects it to global markets.

Situated at the heart of Southeast Asia, Singapore serves as a gateway to ASEAN countries. With world-class ports and air transport hubs, it is an ideal base for international trade and logistics operations.

2. The Basic Steps to Register a Company in Singapore

Despite Singapore’s excellent business environment, many people still worry about whether the registration process is complex. In reality, it is quite straightforward and efficient, usually taking just a few days to complete.

Step 1 Choose the Company Structure

The most common type of company in Singapore is the Private Limited Company Pte Ltd, which is the preferred option for most foreign investors. It has a separate legal identity, limited liability for shareholders, and is well-suited for long-term growth.

Step 2 Check and Register the Company Name

Before registration, you must submit the proposed company name to the Accounting and Corporate Regulatory Authority ACRA to ensure it is available. Once approved, you can proceed with the formal registration.

Step 3 Prepare Required Documents

These typically include the company’s constitution, identity documents of shareholders and directors, the registered office address, and company secretary information. According to Singapore law, every company must have at least one local director and appoint a company secretary within 30 days of registration.

Step 4 Submit the Registration Application

You can complete the registration through ACRA’s online system. Approval is usually granted within one business day.

Step 5 Open a Corporate Bank Account

After registration, you can open a bank account either locally or with an international bank. It’s recommended to choose a major local bank such as DBS, OCBC, or UOB, which offer professional services and streamlined processes.

Step 6 Apply for Business License and Tax Registration

Depending on your business activities, you may need to apply for relevant licenses and complete tax registration, such as Goods and Services Tax GST registration with the Inland Revenue Authority of Singapore IRAS.

Although the process may seem complex at first glance, working with a professional service provider can significantly reduce the time and effort involved. There are many one-stop business service companies in Singapore that offer full support - from registration to tax and HR services - making it easier than ever for entrepreneurs to set up shop.

3. Real Case How Chinese Companies Successfully Enter Singapore

In 2025, as economic and trade cooperation between China and Singapore deepens, more Chinese tech companies are choosing Singapore as their regional headquarters. For example, a well-known Chinese AI company set up a subsidiary in Singapore at the beginning of the year, focusing on developing AI-powered customer service systems for the Southeast Asian market.

The company’s executive cited Singapore’s favorable tax policies, strong government support, and access to international talent as key reasons for choosing the city-state. Notably, the company received guidance and support from Enterprise Singapore during the registration process, allowing it to complete the setup quickly and successfully apply for innovation funding. This shows that Singapore is increasingly committed to supporting high-quality business projects.

4. Conclusion

Registering a company in Singapore is not only efficient and transparent but also backed by strong policy support and a world-class business environment. Whether you're a startup or an established company looking to expand internationally, Singapore offers an ideal platform for growth.

If you're considering expanding overseas, Singapore should definitely be on your radar. As the global economic landscape continues to evolve, seizing this opportunity at the right time could be the key to launching your business into its next phase of success.