Too Complicated to Register a Company in Singapore? Here’s a Step-by-Step Guide to Make It Easy and Launch Your Global Business Dream

Recently, a piece of news about the explosive growth of cross-border e-commerce in Southeast Asia has been making waves on social media. Data shows that in the first half of 2025, Singapore’s cross-border e-commerce sector grew by more than 35% year-on-year, making it one of the most dynamic trade hubs in the Asia-Pacific region. Many Chinese entrepreneurs are now turning their attention to this small but powerful island nation.

On platforms like Zhihu, Xiaohongshu, and WeChat public accounts, “How to register a company in Singapore” has become a frequently searched term. Some want to leverage its free port advantages to break into international markets; others are drawn to its low tax rates and stable legal environment; and some see it as a springboard for expanding across ASEAN. But here’s the catch while it sounds great in theory, actually doing it can feel like navigating a maze. Is the registration process complicated? Do you need a local shareholder? How hard is it to open a bank account?

Let’s walk through how an ordinary person can cut through the confusion and successfully set up a real business in Singapore.

Take Mr. Li from Yiwu, Zhejiang, for example. He’s been running a foreign trade business for over a decade, exporting small commodities to clients across the Middle East and Africa. Last year, he realized that shipping from Singapore not only sped up customs clearance but also qualified for tariff benefits in multiple countries. So he decided to establish a local presence there. At first, he worried about language barriers and complex procedures-but with help from a reliable local agency, his company was registered in under three weeks, and he smoothly opened a corporate bank account. Now, goods ship directly from his Singapore warehouse to Europe and North America, cutting logistics costs by nearly 20%.

What does this tell us? Setting up a company in Singapore isn’t as out of reach as it might seem-you just need to know the ropes.

First off, Singapore is incredibly welcoming to foreigners. You can own 100% of your company without needing a local partner. That said, the law requires at least one resident company secretary. The most common structure is a private limited company Pte Ltd, which requires a minimum paid-up capital of just 1 SGD-and no actual funding needs to be deposited upfront. This means you can launch your project at almost zero cost.

The registration process generally involves four steps

1. Choose a company name and submit it to the Accounting and Corporate Regulatory Authority ACRA for approval-results usually come back the same day.

2. Prepare details for directors, shareholders, and the company secretary. One director must be at least 18 years old and a Singapore resident.

3. Sign key documents, such as the company’s constitution.

4. Submit the formal registration application-typically, you’ll receive your electronic business license within 24 hours.

Sounds straightforward? It mostly is-but details matter. For instance, your business scope should be specific. Don’t just write “international trade.” Instead, specify things like “import and export of electronic products” or “operation of cross-border e-commerce platforms.” Also, your registered address can’t be a residential one used casually-it must be a commercial or virtual office address, a detail many overlook.

Another common question Do you have to go to Singapore in person? The answer is no. The entire process can now be done online via power of attorney, with a local agent handling everything on your behalf. That’s why more and more small and medium-sized enterprises are embracing “remote entrepreneurship.”

Still, registration is just the beginning. Real challenges come after-with tax compliance and opening a bank account.

Singapore follows a territorial taxation system only income earned locally is taxed, while overseas profits remain tax-free. For cross-border traders, this is a huge advantage. However, you’re still required to file annual financial statements and tax returns-even if your company didn’t operate during the year, you must file a “zero return.” That’s where a trustworthy local accounting firm becomes essential.

When it comes to bank accounts, the process has gotten stricter in recent years. Due to tighter anti-money laundering policies, some banks now scrutinize newly registered shell companies more closely-especially those from higher-risk regions. To improve your chances, prepare supporting documents in advance business plans, contracts, websites-anything that proves genuine operations.

Alternatively, digital banks like Airwallex and Wise are increasingly accepted. They offer faster onboarding and are ideal for startups in the early stages.

Here’s another plus Singapore strongly supports innovative businesses. If your company operates in tech, green energy, or the digital economy, you may qualify for grants, the Entrepreneur Pass EntrePass, or even rent subsidies for office space. These resources can save you serious money during the critical early phase.

So why are so many Chinese entrepreneurs choosing Singapore? It’s not just about favorable policies-it’s also about geography. Singapore sits at the crossroads between East and West. From here, you can easily meet Western standards while reaching a combined market of over 600 million people across ASEAN. Against the backdrop of RMB internationalization, financial cooperation between China and Singapore continues to deepen, making cross-border fund transfers smoother than ever.

Of course, success doesn’t come just from holding a business license. Registering a company is merely the first step. What really matters is what comes next operations, brand building, and localization strategy.

But there’s no denying that Singapore offers a relatively fair, transparent, and efficient starting point. If you're thinking about taking your business global, this city-state deserves serious consideration. It might not be perfect for everyone-but for entrepreneurs looking to break through bottlenecks and find new growth opportunities, it could very well be the window to the world they’ve been waiting for.