A Complete Guide to Company Registration in Singapore Process Costs Explained

A Complete Guide to Company Registration in Singapore What You Need to Know About the Process and Costs

In recent years, with the acceleration of global economic integration, more and more entrepreneurs and business owners have turned their attention to Singapore - a country known for its high level of internationalization and excellent business environment. As one of Asia’s most competitive commercial hubs, Singapore has attracted a large number of foreign companies thanks to its stable environment, transparent legal system, and efficient services. According to the latest data released by Enterprise Singapore, the number of newly registered companies in Singapore increased by nearly 12% year-on-year in 2025, with a significant rise in businesses from China, India, and Southeast Asian countries.

If you're also considering setting up a company in Singapore, this guide will walk you through the registration process, required documents, timeline, and associated costs - helping you understand and start your entrepreneurial journey in Singapore smoothly.

1. Basic Requirements for Company Registration in Singapore

Before starting the registration process, it's important to understand some basic requirements

1.1 Company Structure

The most common type of company is a Private Limited Company. This structure offers limited liability to shareholders and is suitable for most small and medium-sized businesses.

1.2 Directors and Shareholders

At least one director, who must be at least 18 years old can be a local or foreigner.

At least one local resident director, who can be a Singapore citizen, permanent resident, or an expatriate holding an Employment Pass.

Shareholders can be individuals or corporate entities, with no nationality restrictions.

1.3 Company Name

You must check the availability of your desired company name via the Accounting and Corporate Regulatory Authority ACRA website to ensure it hasn’t already been registered.

1.4 Paid-up Capital

There is no minimum capital requirement in Singapore. It’s common to start with 1 SGD, and you can increase it later based on business needs.

2. Step-by-Step Registration Process

Registering a company in Singapore typically involves the following steps

2.1 Name Approval

Before proceeding, submit your preferred company name to ACRA for approval. This usually takes within one business day. If the name is already taken, you’ll need to choose a new one.

2.2 Prepare Required Documents

These include, but are not limited to

Memorandum and Articles of Association MA

Identity documents passport or ID of directors and shareholders

Registered address in Singapore must be a physical local address

Appointment of a company secretary, which must be done within 6 months of incorporation

2.3 Submit Registration Application

Use BizFile+, ACRA’s online system, to submit your application. The entire process is digital, and you don’t need to be physically present in Singapore. Most registrations are completed within one business day.

2.4 Open a Corporate Bank Account

Once registered, you can begin setting up a bank account for your company. Major banks in Singapore, such as DBS, OCBC, and UOB, offer streamlined services for new businesses.

2.5 Apply for Business Licenses

Certain industries - such as food beverage, healthcare, and education - require additional licenses from relevant authorities. For example, opening a restaurant requires a food license from the Singapore Food Agency SFA.

3. Registration Costs Overview

The total cost of registering a company in Singapore may vary depending on whether you use a local agent or handle it yourself. Here’s a breakdown of the main expenses

3.1 Official Fees

Company name registration 15 SGD

Company incorporation 300 SGD via BizFile+

3.2 Agent Service Fees

Most foreign investors choose to use a local registration agent to simplify the process. Fees typically range from 800 to 2000 SGD, depending on the services included, such as

Company setup

Provision of a registered address

Secretary services

Tax registration e.g., GST

3.3 Optional Costs

Virtual office services 200-500 SGD/month

Company secretary annual fee 600-1200 SGD/year

Annual audit and tax filing Starts from 1000 SGD/year varies by business size and complexity

4. Why Register a Company in Singapore?

Singapore has become a top destination for global businesses due to several key advantages

4.1 Competitive Tax Regime

Singapore follows a territorial tax system, with a maximum corporate tax rate of 17%. The first 100,000 SGD of profits is tax-free, and there are various tax incentives for startups.

4.2 Strong Financial Infrastructure

As a global financial hub, Singapore offers a robust regulatory framework and a wide range of financial services, making it easy to access capital and manage international transactions.

4.3 Strategic Location

Situated at the heart of Southeast Asia, Singapore provides easy access to major markets in China, India, and Australia, making it ideal for regional expansion.

4.4 Government Support

Programs like Startup SG offer funding, office space, and talent support to help startups grow and thrive in Singapore.

5. Post-Registration Considerations

Registering your company is just the beginning. Once operational, you’ll need to stay compliant with the following

5.1 Compliance and Reporting

Submit annual financial statements and tax returns on time

Follow regulations set by ACRA and the Inland Revenue Authority of Singapore IRAS

5.2 Employment Compliance

If hiring foreign employees, apply for the appropriate work passes, such as the Employment Pass EP or S Pass.

5.3 Intellectual Property Protection

If your business involves trademarks, patents, or designs, consider registering them with the Intellectual Property Office of Singapore IPOS.

Conclusion

Singapore remains one of the most attractive destinations for global entrepreneurs due to its efficient registration process, business-friendly tax policies, and stable social environment. Whether you're looking to expand internationally or build a global business structure, Singapore offers a solid foundation for growth.

We hope this guide has provided you with a clear and practical overview of how to register a company in Singapore - and that it helps you take your first confident steps toward launching your business in this vibrant city-state.