What Are the Requirements for Starting a Company in Singapore? How to Choose a Registered Secretary? A Step-by-Step Guide to the Entire Process

Many people considering starting a company in Singapore immediately wonder: “How high are the entry barriers?” “Is the process complicated?” and “What exactly do I need to prepare?” In fact, once you understand the key milestones, the entire process is far clearer and more manageable than most imagine. While local regulations are relatively friendly toward foreign entrepreneurs, specific requirements are clearly defined-particularly regarding the appointment of a registered secretary, shareholder structure, and registered office address.

Basic Eligibility Requirements for Registering a Company in Singapore

1. At least one shareholder aged 18 or older-individual or corporate-and of any nationality.

2. At least one director ordinarily resident in Singapore, who must be a natural person holding a valid Singapore work pass (e.g., Employment Pass, Entrepreneur Pass) or Permanent Resident status.

3. Appointment of a licensed registered secretary, who must be either a Singapore citizen, permanent resident, or an entity holding a valid long-term pass and authorized to provide such services.

4. Provision of a genuine, physical local registered address-post office boxes or virtual mailboxes are not acceptable as statutory office addresses.

5. Company name must be pre-approved by the Accounting and Corporate Regulatory Authority (ACRA); it must not duplicate any existing business name and must comply with ACRA’s naming guidelines.

6. Clear definition of the company’s principal business activities-minimum one core activity must be declared during registration, with scope adjustments permissible later under applicable law.

Why Appointing a Registered Secretary Is Mandatory

The appointment of a registered secretary is not optional-it is a statutory requirement. The secretary’s core responsibilities include ensuring ongoing compliance, such as timely filing of annual returns, updating director and shareholder information, maintaining statutory registers, and facilitating general meetings. Failure to fulfill these duties may result in the company being flagged for heightened regulatory scrutiny-and could even jeopardize work pass renewals or access to corporate banking services.

How to Choose a Reliable Registered Secretary Firm

1. Verify that the firm holds a valid license issued by ACRA; its licensing status can be confirmed via ACRA’s publicly accessible database.

2. Confirm the team’s capability to serve multilingual clients-especially fluency in Mandarin and ability to support Chinese-language communication and document review-to minimize miscommunication.

3. Understand its service response framework: Does it assign a dedicated point of contact? What are standard turnaround times for routine tasks? How does it handle urgent changes or filings?

4. Assess transparency in service scope: Are included services clearly itemized (e.g., annual return filing, registered address hosting, minutes archiving), along with transparent disclosure of potential ancillary fees?

5. Review its portfolio breadth-particularly whether it has supported businesses operating in industries similar to yours.

6. Avoid selecting solely on price. Some firms offer low initial quotes but introduce hidden charges later-for example, during share transfers, company dissolution, or audit coordination.

Key Milestones in the Full Registration Process

1. Sign a service agreement and submit basic identity and address verification documents to initiate the company name approval process.

2. Upon name approval, concurrently prepare statutory documents-including the company constitution, director and shareholder declarations, and the registered office confirmation letter.

3. Submit the electronic application to ACRA; processing is typically completed within hours, with immediate system feedback.

4. Once issued the Unique Entity Number (UEN) and Business Profile, proceed to open a corporate bank account, apply for a tax identification number, and complete CPF or ACRA-related registrations.

5. Within 30 days of incorporation, hold and file the first board meeting minutes, and commence production of the company seal and establishment of statutory accounting records.

The above outlines the essential eligibility criteria, core functions of the registered secretary, and practical procedural steps involved in registering a company in Singapore. If you have further questions-or wish to explore tailored strategies for specific operational scenarios-we recommend aligning your compliance roadmap and resource planning closely with your business model and long-term operational goals.