Starting a Business in Singapore

Singapore is consistently recognised as one of Asia’s most business-friendly destinations, drawing entrepreneurs, foreign investors, and SMEs seeking regional expansion. Its pro-business tax regime, robust economic stability, and world-class infrastructure make it an ideal hub for company incorporation in Singapore.

Starting a new adventure in Singapore can be an exciting experience. The promise of new beginnings, the chance to live out your dream and build a business empire of your own, exploring your full potential, and the possibilities that await you are all part of the exciting journey which comes with starting a business in Singapore.

If you’re worried about starting a business in a country you’re not familiar with, especially if you’re a foreign investor, you don’t have to be, because with the right guide to Singapore company registration, like the one we have provided below, you’ll be ready to get started in no time.

What You Should Know Before Registering a Company in Singapore?

Before you register a company in Singapore, you would need to ensure that you’ve prepared your company to fulfil the following requirements:

You have a minimum of one resident director who must be at least 18 years of age and have never been declared bankrupt or charged with malpractice.
You have at least a minimum of 1 shareholder (you may appoint up to 50 shareholders).
Your company name is approved before you incorporate.
You must have a local, physical address in Singapore registered to your company (no PO Boxes are allowed).
A qualified resident company secretary will be appointed within 6 months of your incorporation date.
You are ready to pay the minimum of S$1 paid-up capital to register your company.

Companies which are registered in Singapore will have the privilege of benefiting from Singapore’s attractive tax exemptions and incentive systems. Singapore has one of the best corporate tax rates in the world, which explains why many investors are clamouring to get a foothold in the country.

What Are the Types of Business Entities You Can Register in Singapore?

Singapore offers several types of business entities to suit different business needs, ownership structures, and expansion goals.

1. Choosing the Right Business Structure for Your Needs

Singapore offers a range of business entity structures tailored to suit various operational scales, goals, and ownership structures. Understanding the key features, legal implications, and regulatory requirements of each type—whether it’s a Private Limited Company, Sole Proprietorship, or Branch Office—is crucial for making an informed decision that supports long-term business growth.

2. Private Limited Company (Pte Ltd)

A Private Limited Company (Pte Ltd) is the most common and preferred business structure in Singapore, particularly for entrepreneurs seeking credibility, growth potential, and limited liability protection. It is a separate legal entity from its owners, which means the personal assets of shareholders are safeguarded from the company’s liabilities and debts.

This entity can have 1 to 50 shareholders and is governed by a formal constitution. It has the authority to own property, enter into contracts, and sue or be sued in its own name. Significantly, it can raise capital more easily by issuing shares to investors, making it suitable for businesses with long-term growth aspirations.

Unlike public companies, a Pte Ltd does not offer its shares to the general public. This allows for greater control over ownership and strategic decisions, making it ideal for startups, SMEs, and companies planning to scale efficiently while maintaining tight control over equity and operations.

3. Sole Proprietorship

A Sole Proprietorship is the simplest and most cost-effective business entity in Singapore, designed for individuals who wish to run a business on their own. It is not a separate legal entity, which means the owner is personally liable for all business obligations and debts.

While setup is easy and regulatory requirements are minimal, the owner bears full risk—including unlimited liability—and profits are taxed at personal income tax rates. This entity is best suited for freelancers, consultants, and solo entrepreneurs who value direct control and simplicity over scalability and liability protection.

However, sole proprietors cannot raise funds through equity investment, and the structure offers limited access to government grants and tax incentives. If the business expands, owners often convert to a Private Limited Company for better legal and financial protection.

4. Branch Office

A Branch Office is an extension of a foreign parent company and is not a separate legal entity. It operates under the same name and business activities as the parent company and is subject to Singapore’s corporate tax regime for locally earned income.

To register a branch office in Singapore, the parent company must submit relevant documentation to ACRA, including its certificate of incorporation, company profile, and a board resolution authorising the setup. A locally resident authorised representative is also required to handle regulatory matters on behalf of the branch.

This structure is ideal for foreign corporations looking to expand operations without forming a new legal entity. It allows companies to enter the Singapore market efficiently, although the parent company remains fully liable for the branch’s obligations. Depending on its activities, a branch may qualify for certain tax benefits or exemptions.

What Documents Will I Need to Register My Company?

To start a business in Singapore, you will need to prepare the following documents for incorporation:

Business plan/brief description of business activities
The company name, which has been approved
Particulars of your shareholders and directors
A registered physical address in Singapore
The details of your company secretary
Copy of your Singapore identity card (for Singaporean residents)

Additionally, for non-residents, you will need to provide the following documentation:

A copy of your passport
Proof of your overseas residential address

What is the Step-by-Step Process to Register a Business in Singapore?

Establishing a business in Singapore is known for its efficiency and clarity. Below is a streamlined process tailored for entrepreneurs—both local and foreign—who are ready to incorporate in one of Asia’s most business-friendly jurisdictions.

1. Reserve Your Company Name

The first step in company registration in singapore is securing your business name with the Accounting and Corporate Regulatory Authority (ACRA).

The name must be unique, non-offensive, and not identical or too similar to existing registered entities.
Name approval is typically processed within one business day, provided no additional vetting by external authorities is required.

2. Appoint Key Personnel

To comply with statutory requirements, every private limited company must appoint the following individuals:

Resident Director: At least one director must be ordinarily resident in Singapore (e.g., a Singapore Citizen, Permanent Resident, or holder of an EntrePass/Employment Pass). The director must be at least 18 years old and free of bankruptcy or past misconduct.
Company Secretary: You are required to appoint a qualified company secretary within 6 months of incorporation.
Auditor: Unless exempted as a small company, an auditor must be appointed within 3 months of incorporation.

3. Provide a Registered Business Address

Your company must have a local, physical commercial address in Singapore.

The address must be accessible for at least three hours during standard business hours on working days.
P.O. Boxes are not permitted.

4. Determine Your Paid-Up Capital

Singapore allows companies to register with a minimum paid-up capital of S$1.

However, having a higher capital base (e.g., S$50,000 and above) can boost your company’s credibility with banks, investors, and government authorities.
Paid-up capital can be increased post-incorporation if needed.

5. Prepare and File Incorporation Documents

Once your name is approved and key positions confirmed, submit the incorporation documents through ACRA’s BizFile+ portal. Required information includes:

Company name
Details of shareholders, directors, and the company secretary
Registered address
Constitution of the company (formerly known as Articles of Association)

Processing time: Most applications are approved within 1–3 business days, barring further review.

6. Open a Corporate Bank Account

After incorporation, set up a corporate bank account with a local bank in Singapore to manage company finances.

Most major banks require physical presence and proper documentation, including ACRA registration, the company’s Constitution, and board resolution.

7. Apply for Business Licenses or Permits (if applicable)

Certain industries in Singapore are regulated and require sector-specific licenses before beginning operations. Examples include:

Financial services (Monetary Authority of Singapore)
Food & Beverage (Singapore Food Agency)
Education (Committee for Private Education)

Check with GoBusiness Singapore to verify whether your business activity requires additional licensing.

8. Register for GST (If Applicable)

If your business expects an annual taxable turnover exceeding SGD 1 million, you are required to register for Goods and Services Tax (GST) with the Inland Revenue Authority of Singapore (IRAS).

Voluntary registration is also allowed for businesses below the threshold that want to claim input tax credits.

As A Foreign Investor, Is There Anything Else I Need to Know About Starting a Business in Singapore?

Yes, there is. If you’re a non-Singapore resident, here’s what you need to know:

If you plan to relocate to Singapore to run your business, you will be required to obtain either an Employment Pass or an Entrepreneur Pass. This will allow you to act as the local resident director of your company.
You do not need to have a Singapore work visa to incorporate a company in Singapore.
If you are not based in Singapore, you will need to hire a local director to fulfil the minimum one resident director requirement.
You will need to engage the services of a professional firm to register your company under Singaporean law.

Starting a Business in Singapore