Setting Up a Company in Singapore Isn't Hard! A Step-by-Step Guide to Easily Register One

How to Easily Register a Company in Singapore A Comprehensive Guide to Get You Started

In recent years, as the global economic landscape continues to evolve, more entrepreneurs and small-to-medium enterprises SMEs are turning their attention to Southeast Asia. As a regional financial and business hub, Singapore stands out with its stable economy, efficient services, and strategic location-making it a top choice for companies looking to establish a presence overseas. In 2025, with the rapid growth of Southeast Asia's digital economy, the trend of registering companies in Singapore is gaining even more momentum.

So, how can you smoothly set up a company in Singapore? This guide provides you with a detailed, step-by-step overview to help you get started.

1. Understand the Types of Companies in Singapore

Before registering, it’s essential to understand the different types of business structures available in Singapore

Private Limited Company Pte Ltd The most popular option, especially for SMEs. It offers limited liability protection, with a maximum of 50 shareholders and independent legal status.

Branch Office Suitable for foreign companies already in operation. It’s relatively simple to set up but lacks independent legal status.

Representative Office Ideal for market research in the early stages. However, it cannot engage in profit-making activities and is typically valid for one year only.

Partnership Sole Proprietorship Best suited for individuals or small-scale projects. However, these structures carry unlimited liability, meaning higher personal risk.

Most entrepreneurs choose the Private Limited Company due to its advantages in tax efficiency, access to funding, and business credibility.

2. Pre-Registration Preparation

Before you begin the registration process, here are the key steps to complete

Company Name Approval The first step is to submit a proposed company name to the Accounting and Corporate Regulatory Authority ACRA. The name must be unique and comply with ACRA guidelines. Approval is usually processed within minutes.

Appoint Shareholders and Directors A Singapore company must have at least one director who is a local resident-this can be a Singapore citizen, permanent resident, or an expatriate holding an Employment Pass. There are no nationality restrictions for shareholders.

Registered Address Your company must have a physical Singapore address-P.O. boxes are not acceptable. Many startups opt for shared office spaces or virtual office addresses, which are widely available and affordable.

Appoint a Company Secretary Within six months of incorporation, a company must appoint a qualified company secretary responsible for compliance and corporate governance.

Paid-Up Capital There is no minimum capital requirement in Singapore. Most companies start with a nominal amount, such as SGD 1 or SGD 1,000. Shareholders can contribute capital in cash or kind.

3. Step-by-Step Registration Process

Step 1 Prepare Required Documents

Approved company name

Identity documents passport or ID of shareholders and directors

Proof of registered address

Constitution Memorandum and Articles of Association

Step 2 Submit Application via ACRA

Singapore has fully digitized its registration process. You can submit your application online through the BizFile+ portal on ACRA’s website. In most cases, the entire process is completed within a day-sometimes even within an hour.

Step 3 Receive Business Profile Certificate of Registration

Once approved, ACRA will issue an electronic Business Profile, which serves as the official certificate of registration. Your company can now legally begin operations.

4. Open a Corporate Bank Account and Register for Taxes

After incorporation, the next steps are

Open a Corporate Bank Account Singapore is home to world-class banks such as DBS, OCBC, and UOB, all of which offer smooth and efficient account opening services. Required documents typically include

Business Profile

Identity documents of directors and shareholders

Company Constitution

Proof of registered address

Register with IRAS Inland Revenue Authority of Singapore

Apply for a Unique Entity Number UEN

Register for Goods and Services Tax GST, if applicable

5. Common Questions and Key Considerations

Can foreigners register a company in Singapore?

Yes. Foreigners are welcome to set up a company but must appoint at least one local director.

Do I need to be physically present in Singapore?

No. Most registration steps can be completed online. However, some banks may require in-person visits for account opening.

What are the registration costs?

Fees include

Government fee Around SGD 317 covers name registration and company incorporation

Professional service fee Varies between SGD 300-1,000, depending on the service provider

Annual Compliance Requirements

Singapore companies must submit

Annual Return and financial statements

Corporate income tax returns

It’s highly recommended to engage a professional accounting firm to ensure full compliance.

6. Why Choose Singapore?

Singapore remains a top destination for entrepreneurs for three key reasons

1. Favorable Tax Regime The corporate income tax rate is capped at 17%, with various tax incentives and exemptions available.

2. Business-Friendly Environment Transparent regulations, fast incorporation, and strong legal protection make Singapore one of the easiest places to do business.

3. Strategic Global Access Located at the heart of Southeast Asia, Singapore provides easy access to ASEAN markets and is connected to a powerful international financial network.

According to the World Bank’s 2025 Doing Business Report, Singapore ranks highly in ease of starting a business, reinforcing its reputation as a startup-friendly destination.

Conclusion

In an era of global economic uncertainty, Singapore continues to shine as a beacon of stability, efficiency, and opportunity. With the right planning and support, setting up a company in Singapore is not only straightforward but also highly rewarding. We hope this guide has provided you with a clear roadmap and practical insights to help you confidently launch your business journey in Singapore.