A Step-by-Step Guide to Registering a Company in Singapore Complete Breakdown of Required Documents and Easy Access to Global Markets!

In recent years, more and more Chinese entrepreneurs and small-to-medium enterprises SMEs have started looking overseas for growth opportunities. Among the many international destinations available, Singapore has emerged as a top choice-thanks to its political stability, strategic location, low tax rates, and open-door policy toward global business. With the implementation of the Regional Comprehensive Economic Partnership RCEP agreement, economic ties between China and Singapore have grown even stronger, making it increasingly attractive to set up a company in Singapore.

So how exactly do you register a company there? Is it complicated? What documents do you need? Let’s break it down step by step-in plain, practical terms-and walk through the entire process of setting up a business in Singapore.

Step 1 Choose Your Company Name

The first step is submitting a proposed company name to the Accounting and Corporate Regulatory Authority ACRA, the official body overseeing all company registrations in Singapore. The naming rules are fairly flexible-you can use both Chinese and English names-but your company must end with Pte. Ltd. to indicate it's a private limited company. For example, could become Starlight Technology Pte. Ltd.

Just make sure your chosen name isn’t already taken or includes restricted words like bank, insurance, or trust, unless you hold the proper license.

Step 2 Prepare Required Documents

Before registration, gather a few essential documents and details

- At least one local director This is mandatory. A local director must be a Singapore citizen, permanent resident, or someone holding an Employment Pass EP who resides locally. If you don’t have contacts in Singapore, no problem-many professional corporate service providers offer nominee director services. These are widely available, compliant, and reasonably priced.

- A qualified company secretary By law, every company must appoint a corporate secretary within six months of incorporation. This role must be filled by a licensed firm. Most registration agencies include this service in their packages, so you won’t need to source one separately.

- Shareholder information You’ll need at least one shareholder individual or corporate, along with copies of their passport and proof of residential address.

- Registered office address This must be a real physical address in Singapore-not a PO box. Many companies use virtual office services that provide legitimate business addresses, mail handling, and even meeting rooms.

Step 3 Determine Share Capital and Ownership Structure

Singapore doesn’t require a minimum paid-up capital-you can technically start with just 1 Singapore dollar. However, most businesses opt for between 10,000 and 100,000 SGD to project credibility without incurring extra taxes. Importantly, capital doesn’t need to be fully paid upfront; it’s sufficient to declare it issued capital, and shareholders can contribute funds over time.

Another big advantage 100% foreign ownership is allowed. That means a Chinese individual or company can fully own the Singapore entity-no local partner required. This gives full control to founders who want to manage their overseas operations independently.

Step 4 Submit the Registration Application

Once everything is ready, you can submit your application online via ACRA-approved agents or platforms. The whole process usually takes just 1-3 working days. Once approved, your company will receive a Unique Entity Number UEN-its official ID number used for banking, tax filings, contracts, and other legal matters.

You’ll also automatically get basic business licensing rights, allowing you to conduct most commercial activities legally. However, if you're entering regulated sectors like finance, education, or travel, you’ll need additional permits from relevant authorities.

Now, what comes after registration?

One of the most critical next steps is opening a corporate bank account. While major banks like DBS, OCBC, and UOB do accept applications from foreign-owned companies, stricter anti-money laundering checks have made approvals tougher in recent years. To improve your chances, prepare solid documentation a clear business plan, shareholder background info, and a detailed description of your intended transactions.

Alternatively, consider digital banking options such as Airwallex or Wise Business. These fintech platforms offer multi-currency accounts tailored for startups and SMEs, often with faster onboarding and lower fees.

Let’s not forget Singapore’s business-friendly tax system. The corporate income tax rate is a flat 17%, and the first 100,000 SGD of taxable profit enjoys a 50% discount-effectively reducing the rate to 8.5%. Plus, Singapore has double taxation avoidance agreements with over 80 countries, including China. This means profits earned abroad can typically be repatriated without being taxed twice-as long as they’re properly declared.

Looking at the bigger picture In Q1 2025, new business registrations in Singapore rose nearly 12% year-on-year, with a notable increase in Chinese-origin companies-especially in cross-border e-commerce, fintech, and green energy. Entrepreneurs from cities like Shenzhen and Hangzhou are using Singapore as a springboard into Southeast Asia, leveraging its logistics networks, payment infrastructure, and regional connectivity to scale quickly.

Setting up a company in Singapore isn’t as daunting as it might seem. With the right support and preparation, the process is straightforward and efficient. It’s more than just a legal move-it’s a strategic tool that boosts your brand’s global image, streamlines tax planning, and opens doors to international markets.

If you’ve been thinking about taking your business overseas, Singapore is definitely worth serious consideration. Who knows? The next big success story in Southeast Asia could very well be yours.