How to Start a Company in Singapore? A Complete Guide to the Registration Process and Practical Tips

In Southeast Asia’s vibrant startup landscape, Singapore undoubtedly shines as a gem. In recent years, more and more entrepreneurs, small business owners, and even multinational corporations have chosen to set up companies here-not just because of its stable environment and efficient services, but also thanks to its strategic location, open economic policies, and highly competitive tax system. If you’re thinking about going global and expanding your business into international markets, registering a company in Singapore might be an excellent move.

According to data recently released by the Accounting and Corporate Regulatory Authority ACRA, new business registrations in 2025 rose nearly 8% year-on-year, with a significant number coming from entrepreneurs in China, India, and other Southeast Asian countries. This trend reflects strong global confidence in Singapore’s business-friendly climate. At the same time, Singapore continues to streamline its company registration process, rolling out more digital tools to make everything faster, smoother, and more transparent.

So how can an ordinary person successfully register a company in Singapore? What are the key steps and practical tips? Here’s a comprehensive guide that could help you avoid common pitfalls.

Step 1 Choose Your Company Type

The most common corporate structure in Singapore is the Private Limited Company, often abbreviated as Pte Ltd. This type of company has independent legal status, limited liability for shareholders, and is well-suited for raising capital or attracting investors. While other options like branches, representative offices, or partnerships exist, Pte Ltd remains the top choice for most startups.

One major advantage? Singapore allows 100% foreign ownership. That means you don’t need a local partner-you can fully own your business even if you're based overseas. This is a huge plus for international entrepreneurs.

Step 2 Prepare Essential Information

Before registration, gather these core elements

- Company Name You’ll need to check availability and get approval through ACRA’s system. Names must not duplicate existing ones or include restricted words. It’s wise to prepare 2-3 alternatives.

- Paid-up Capital The minimum is just 1 Singapore dollar-no need to deposit it upfront, but you must declare the amount. Most startups start with around 10,000 SGD.

- Shareholders Directors You need at least one shareholder individual or corporate, any nationality and one director who is ordinarily resident in Singapore-meaning a citizen, permanent resident, or someone holding an Employment Pass EP. If you can't fulfill this requirement yourself, professional service providers can appoint a compliant local director on your behalf.

- Company Secretary By law, every company must hire a licensed corporate secretary within six months of incorporation. This person handles statutory filings, annual returns, and compliance matters. Most registration agents offer this service.

Step 3 Secure a Local Business Address

You don’t need a full-time office, but you must provide a real local business address during registration-virtual mailboxes or home addresses aren’t allowed unless specially approved. Many startups opt for co-working spaces or use registered address services offered by agencies. These are affordable and fully compliant.

Step 4 Submit Your Application

Once everything is ready, submit your application online via ACRA’s BizFile+ platform. The entire process is paperless and usually takes between 15 minutes and one business day. Once approved, you’ll receive your Unique Entity Number UEN-essentially your company’s “ID number.”

Practical Tips to Help You Succeed

1. Use a Trusted Service Provider

While it's possible to register solo, foreigners unfamiliar with local rules will save time and stress by working with a reputable corporate services firm. They can handle registration, bank account setup, tax registration-and even support you later with accounting, tax filing, and annual audits.

2. Open a Corporate Bank Account Early

After incorporation, opening a business bank account is crucial. Major banks like DBS, OCBC, and UOB have strict checks, especially for companies with non-resident directors. You may need to attend interviews or submit extra documents like business plans, ID proofs, and company constitutions. Schedule early and come prepared.

3. Take Advantage of Tax Incentives

Singapore’s tax system is simple and attractive. The corporate income tax rate is only 17%, and there’s generous relief up to 75%-100% exemption on the first 100,000 SGD of taxable profit. Plus, eligible startups can benefit from the Start-Up Tax Exemption Scheme, enjoying substantial tax savings for their first three years. Smart use of these incentives can significantly reduce operating costs.

4. Stay on Top of Compliance

You’re required to file annual financial statements and submit an Annual Return each year, along with holding an Annual General Meeting AGM. Missing deadlines can lead to fines-or even deregistration. Set calendar reminders or let your corporate secretary manage compliance for you.

5. Plan Ahead for Growth

If you eventually want to apply for work visas like the EntrePass, hire employees, or seek government grants, starting off on the right foot matters. Keep clean corporate records and solid financial documentation-they lay the foundation for long-term success.

Today, with remote work on the rise and cross-border business booming, more freelancers and digital nomads are setting up companies in Singapore to easily take on international projects, issue invoices, and manage income legally and efficiently.

Registering a company in Singapore isn’t complicated. With a clear process, fast turnaround times, and strong support systems, it’s ideal for businesses of all sizes-from solopreneurs to scaling ventures. As long as you plan carefully, understand the rules, and leverage the right resources, taking your first step toward going global doesn’t have to be daunting.

The key? Just start. Adjust and improve as you go. After all, every successful business begins with one simple act registration.