How to Set Up a Company in Singapore Step by Step A Beginner’s Guide to Launching Your Global Startup Journey

In today's globalized era, more and more entrepreneurs are no longer limiting themselves to the domestic market-they’re setting their sights overseas. And when it comes to international expansion, Singapore often tops the list for many. With its strategic location, strong legal system, and business-friendly environment, it’s no wonder so many choose this city-state. But what really sets Singapore apart is its transparent and efficient company registration process, combined with highly attractive tax policies.

If you're thinking about launching an international venture, understanding how to register a company in Singapore is a crucial first step. According to recent reports from Lianhe Zaobao, 2025 saw a record high in new business registrations in Singapore, with many entrepreneurs from China, India, and Southeast Asian countries choosing the country as a base for regional headquarters or holding companies. This trend reflects Singapore’s stable political climate, efficient public services, and open attitude toward foreign investors.

So, how exactly can an ordinary person set up a company in Singapore? Is the process complicated? What documents do you need? Don’t worry-we’ll walk through it step by step.

Step 1 Choose Your Company Type

The most common business structure in Singapore is the Private Limited Company-often referred to as a Pte Ltd. This type offers limited liability, carries strong credibility, and enjoys a competitive corporate tax rate of just 17%. On top of that, there’s a generous tax exemption scheme for startups for the first three years, newly incorporated companies can enjoy partial tax relief on their first S$100,000 to S$200,000 of profit.

Step 2 Pick a Company Name

You can’t just pick any name. You’ll need to submit your proposed name through the Accounting and Corporate Regulatory Authority ACRA’s online portal, which will automatically check for duplicates or prohibited terms. It’s wise to have two or three backup names ready in case your first choice gets rejected. For example, words like “bank” or “insurance” are restricted unless you hold the proper license.

Step 3 Prepare Required Documents and Roles

To register a company, you’ll need at least one shareholder, one local director who is a resident of Singapore, and one company secretary. Here’s the key point one director must be a Singapore resident-this could be a citizen, permanent resident, or someone holding an EntrePass or Employment Pass. If you’re not based locally, you can hire a qualified professional service provider to act as your nominee director-a common and fully legal practice.

Shareholders can be individuals or corporate entities, with no restrictions on nationality. That means you can fully own your Singapore company. There’s also no minimum capital requirement-S$1 is enough to start, though most people opt for S$10,000 or S$100,000 depending on their needs. You can increase the capital later as your business grows.

Step 4 Submit the Registration Application

Once everything is ready, you’ll file the application online through an ACRA-authorized agent-such as a law firm or corporate service provider. Required documents include the company’s constitution Memorandum Articles of Association, identification documents for directors and shareholders, and proof of a registered office address.

Thanks to full digitization, approval usually takes just 1-2 business days. Once approved, your company will receive a Unique Entity Number UEN-essentially its ID number-which you’ll use for opening bank accounts, filing taxes, signing contracts, and other official matters.

Step 5 Handle Post-Registration Requirements

Registering your company is just the beginning. To stay compliant, there are several ongoing obligations

- Hold your first Annual General Meeting AGM within six months of incorporation.

- File annual financial statements and tax returns every year.

- While audit requirements aren’t mandatory for all, companies exceeding S$5 million in annual revenue must undergo audits by licensed accounting firms.

- Open a corporate bank account. Major banks like DBS, OCBC, and UOB now offer video-based remote account opening, especially welcoming applicants from China. However, banks conduct due diligence, so it helps to prepare supporting documents such as a business plan, client contracts, or invoices to boost approval chances.

Interestingly, with the rise of digital nomads and remote work, many freelancers and small teams are now registering single-member companies in Singapore to manage international projects and overseas income. This low-overhead model is ideal for those in e-commerce, IT services, content creation, and similar fields.

Of course, while the process seems straightforward, details matter. For instance, your registered office address cannot be a residential unit unless special permission is granted. The company secretary must be a licensed professional, and smart tax planning should begin early. Most first-time founders opt to work with reliable local agencies-typically paying between S$1,500 and S$3,000, which usually includes the first year’s secretary service and registered address. Considering the time saved and peace of mind gained, it’s a solid investment.

Singapore functions like a perfectly designed bridge-connecting East and West, linking capital with opportunity. It doesn’t rely on flashy incentives to attract businesses; instead, it wins trust through transparency, consistency, and efficiency.

As a friend of mine who runs a tech startup in Shenzhen once put it Setting up a company in Singapore isn’t just about spending money-it’s buying confidence.

If you’re ready to take the leap, start with a solid business plan, consult a reputable service provider, and take that first step toward going global. The world is vast, full of opportunities-and sometimes, all it takes is changing where you do business to see a whole new horizon.