Can You Really Set Up a Company in Singapore on Your Own? Here’s the Full Story!

Lately, a lot of my friends have been talking about starting their own businesses. Some are looking into cross-border e-commerce, others want to launch consulting firms, and a few are thinking about turning side hustles into full-time gigs. And whenever company registration comes up, many immediately wonder What if I just do it in Singapore? After all, this small Southeast Asian country is famous for its business-friendly environment and attractive tax policies-no wonder it’s drawing attention from entrepreneurs and small business owners worldwide.

But here's the real question Can you actually register a company in Singapore on your own? Or do you have to go through an agency?

Here’s the short answer Yes, technically, you can absolutely do it yourself. But whether you should depends on how familiar you are with the process, how much time you’ve got, and how much risk you’re willing to take.

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1. How hard is it to do it yourself?

The Accounting and Corporate Regulatory Authority ACRA offers a smooth, fully digital platform called BizFile+ for company registration. If you’re a Singapore citizen or permanent resident, you can log in with SingPass. Foreigners can use CorpPass via an authorized representative. No physical visits required-everything’s online.

You’ll need a few basics a company name, business activities, a registered address, details of shareholders and directors, and your company constitution. Fill out the form, pay the fee around 300 SGD, and if everything goes smoothly, your company could be approved in as little as 15 minutes.

Sounds pretty straightforward, right? From a technical standpoint, it’s no more complicated than checking a business profile on Tianyancha back home-simple and intuitive.

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2. But is it really that easy?

Not quite. Smooth on the surface doesn’t mean trouble-free underneath.

First, naming your company isn’t as freeform as you might think. Want to call it Asia-Pacific International Trading Co.? Too generic-likely to get rejected. ACRA is strict about names duplicates, misleading terms, or sensitive words will be flagged. Some people submit three or four times before getting approval, wasting time and patience.

Second, your registered address has to be legit. You can’t just use your home address unless specific conditions apply. You need a real commercial address in Singapore. For freelancers or remote workers with no local office, that means paying for a virtual office service-a detail the government won’t volunteer.

Third, you need at least one director who’s a Singapore resident. So if you’re a foreigner wanting full ownership, you’ll need to find a local citizen or PR to act as a nominee director. That person isn’t just a name on paper-they carry legal responsibility. Who do you trust? How do you draft the agreement? How do you define liability? These aren’t things you can click through on a website.

And then there’s the invisible hurdle opening a corporate bank account. Even after successful registration, without a bank account, your company can’t receive or send money-it’s basically useless. But Singapore banks have tightened their checks, especially for companies controlled by foreigners. Just having registration documents isn’t enough. You’ll likely need a business plan, client contracts, website info-proof of real operations. Many founders get stuck here, spending months trying to open an account.

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3. So, are agencies worth it?

This is where professional agents earn their keep. They don’t just file forms-they help you avoid pitfalls, save time, and boost your chances of success.

For example, they can

- Check name availability and suggest compliant options;

- Provide a valid registered address and mandatory company secretary services required by law;

- Help arrange a local nominee director if needed;

- Guide you through bank account applications-or even introduce you to partner banks;

- Offer ongoing support like accounting, tax filing, and annual compliance.

More importantly, they stay updated on regulatory changes. Starting in 2025, Singapore is tightening rules on disclosing Ultimate Beneficial Owners UBOs. Every company must maintain an accurate UBO register. Miss this, and you could face fines or even lose your license. Most first-time founders wouldn’t even know this exists.

Yes, agencies charge for this-typically between 800 to 2,000 SGD for the first year, plus a few hundred annually after. But what you’re paying for isn’t just convenience; it’s peace of mind and legal compliance.

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4. When can you go it alone?

That said, you don’t have to use an agent.

If you meet these conditions, DIY might work for you

- You’re a Singapore resident with SingPass;

- You already have a local business address;

- You’ve found a qualified local director;

- You understand basic corporate law and taxation;

- You’ve got time and don’t mind a learning curve.

For instance, local freelancers setting up sole proprietorships or small creative studios often handle registration themselves. ACRA’s website has detailed guides and FAQs-in English, they’re clear enough to follow.

But if you’re a foreign entrepreneur entering the market for the first time, or planning a serious, long-term venture, working with a reliable agency makes sense. In the early days of a startup, your energy should go toward building your product or finding customers-not wrestling with bureaucratic procedures.

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5. The bottom line

Singapore’s system is designed to make entrepreneurship accessible. It gives you the option to do it yourself-and respects that choice. But just like you don’t need to understand engine mechanics to drive a car, you don’t need to personally handle every step of company registration.

The real question isn’t can you, but should you?

Is it better to spend three days figuring it out alone, or pay a thousand bucks to have a pro sort it out in half an hour?

There’s no single right answer. It depends on what you value more time, control, or certainty.

I recently read about an indie developer from Hangzhou who remotely set up a company in Singapore, integrated Stripe for SaaS subscriptions, and quickly hit over 50,000 RMB in monthly revenue. He used an agency-spent a bit more upfront, but gained speed and confidence.

That, perhaps, is what modern entrepreneurship looks like today tools are more open, borders matter less, and the smartest founders know when to do it themselves-and when to ask for help.