Starting a Business in Singapore

Published January 29, 2018 · Updated October 30, 2026

For many founders, company setup in Singapore sounds simple until the residency tests, licences and deadlines pile up. This year, more than 323,000 Singapore companies — over 37,000 of them newly incorporated — must file Corporate Income Tax Returns by 30 November.

In this guide, we discuss how to start a business in Singapore in 2026. We cover structure choices and ACRA registration requirements. We explain step-by-step incorporation for local and foreign founders, honest cost budgeting, licences, tax registration and yearly compliance — including changes that took effect on 20 October 2026.

Why Do Entrepreneurs Keep Choosing Singapore for Company Setup?

The draw is structural: full foreign ownership, a digital registry, a 17% headline tax rate, and exemptions designed for new companies.

Singapore has spent more than a decade near the top of global ease-of-doing-business rankings, and the substance behind that record still holds. The city-state combines a common law legal system, English as the working language of business, political stability, and direct access to Southeast Asia's fastest-growing markets. An extensive network of free trade agreements and double taxation treaties simplifies cross-border expansion.

For founders, three structural advantages stand out. A private limited company can be 100% foreign-owned, with no residency requirement for shareholders. The Accounting and Corporate Regulatory Authority (ACRA) operates Bizfile, a digital registry through which most straightforward registrations are approved soon after payment. The Inland Revenue Authority of Singapore (IRAS) applies a 17% corporate income tax rate and offers exemption schemes for qualifying new companies. Capital gains are generally not taxable, and dividends paid under the one-tier corporate tax system are generally tax-exempt in shareholders' hands.

Which Business Structure Should You Choose for Your Singapore Company?

For growth-minded founders, the private limited company usually wins on liability, tax and investor credibility; simpler forms suit solo or transitional stages. If your idea is a lean, owner-run service, our guide to how to start and run a successful dog walking business in Singapore shows the process end to end.

Your legal form decides who is liable, how profits are taxed, and how much paperwork lands on your desk each year. Singapore offers four main routes, and the right one depends on who owns the business and how it will grow.

1. Sole Proprietorship

A simple form with one owner and no separate legal identity. The owner bears unlimited personal liability; profits are taxed at the owner's personal or corporate rate, as applicable. Overseas owners can register but must meet local representative requirements and engage a corporate services provider.

2. Partnership or Limited Liability Partnership

A general partnership generally has two to 20 partners, although certain professional partnerships may have more; partners are personally liable for partnership debts. A limited liability partnership (LLP) is a separate legal entity. Partners are not personally liable for the LLP's obligations solely because they are partners. They remain liable for their own wrongful acts.

3. Private Limited Company (Pte Ltd)

A separate legal entity with limited liability for up to 50 shareholders — individuals or corporations, local or foreign. It pays corporate income tax at 17%, enjoys exemptions, and can outlive its founders.

4. Branch Office

An overseas company may register a local branch instead of a subsidiary. A branch is not a separate legal entity, so the parent company carries its liabilities, contracts and reporting duties.

What Are the Requirements to Register a Company in Singapore?

A private limited company needs one local resident director, at least one shareholder, and a Singapore-resident company secretary. It also needs a local registered office and at least S$1 of issued share capital.

The Companies Act 1967 sets the baseline, and ACRA administers registration through Bizfile. The statutory minimums are low, but each one is compulsory and verified.

Core registration requirements include:

• At least one shareholder, individual or corporate, and no more than 50 for a private company.
• At least one director aged 18 or above who is ordinarily resident in Singapore. Eligible residents include citizens, Permanent Residents and certain pass holders; pass holders should check the applicable permissions with their pass issuer. Employment Pass holders need a Ministry of Manpower Letter of Consent to take up a secondary directorship in another company.
• Directors must consent to act and meet eligibility requirements. An undischarged bankrupt needs the required court leave or Official Assignee's written permission.
• A company secretary who resides in Singapore, appointed within six months of incorporation; a company's sole director cannot also be its secretary.
• A registered office address in Singapore, with statutory records available for inspection on reasonable notice.
• A unique name, with an appropriate private-company suffix such as 'Pte. Ltd.' or 'Private Limited', approved by ACRA before incorporation.

How Do You Register a Singapore Company, Step by Step?

Registration runs in six stages: reserve the company name, prepare the constitution and KYC documents, lodge the ACRA application, collect the UEN and certificate, complete post-incorporation setup, then plan passes and premises.

Eligible local founders can use Singpass to file through Bizfile; a corporate services provider uses Corppass. Foreign founders must engage a registered corporate services provider. Use the Singapore company name checker for an initial screen, or ask about Singapore company incorporation services before starting.

Step 1: Check and Reserve Your Company Name

Screen your proposed name for clashes before paying ACRA, and select the appropriate business activity code. A reserved name costs S$15 and holds for 120 days. ACRA rejects names identical to existing entities, or names that are indecent or misleading.

Step 2: Prepare the Constitution and KYC Documents

Adopt ACRA's model constitution or prepare a customised constitution, and obtain the required consents from officers. If you engage a corporate service provider, it must conduct customer due diligence before incorporation, including identifying and verifying the customer and beneficial owners.

Step 3: Lodge the Incorporation Application

Submit the company details and pay the S$300 registration fee, separate from the S$15 name application. For a self-filed application, other position holders must endorse it within 60 days before payment. ACRA says complex cases may take up to 15 working days, while applications requiring referral can take 14 to 60 days.

Step 4: Receive the UEN and Certificate of Incorporation

ACRA issues a Unique Entity Number (UEN) and an electronic notice of incorporation. From that moment the company is a separate legal person that can contract, sue and hold assets.

Step 5: Complete Post-Incorporation Setup

Choose your financial year end during registration; after incorporation, open a corporate bank account, confirm the secretary's appointment if needed and issue share certificates. Set up Corppass access for corporate tax services and check the company's first financial year and tax filing deadlines.

Step 6: Plan Passes and Premises Early

Relocating founders apply to the Ministry of Manpower (MOM) for an Employment Pass or, for innovative ventures, an EntrePass. Qualifying criteria are revised periodically, so verify current thresholds before scheduling the move.

What Business Licences Might a New Singapore Company Need?

Singapore has no general business licence; approval applies only where your specific activity is regulated, and it must be confirmed before launch.

Incorporation itself does not authorise a regulated trade. Once the UEN is active, the question is whether your activity sits in a licensed class. GoBusiness Licensing, the government's one-stop portal, maps your activity to any required permits and processing timelines.

Commonly regulated activities include:

• Food and beverage outlets, licensed by the Singapore Food Agency (SFA).
• Private education providers, registered under Ministry of Education frameworks.
• Financial services, licensed by the Monetary Authority of Singapore (MAS).
• Travel agencies, employment agencies and other intermediated trades, licensed by their sector authorities.
• Importers and exporters of controlled goods must obtain the relevant trade permits and comply with the applicable competent authorities' requirements.

How Much Does Company Setup in Singapore Cost?

Budget realistically: official ACRA fees total S$315 to incorporate, but a lean first year with professional support typically runs into the low thousands of Singapore dollars.

A company that requires share capital needs at least S$1 in share capital to start, and its shares may be issued without full payment. Singapore imposes no higher floor for most private companies, and capital can be increased later without additional filing fees. That does not make a S$1 company a viable plan on its own.

ACRA charges S$15 for the name application and S$300 for registration, plus S$20 for each annual return filing. Professional support varies with scope. Our 2026 fee schedule lists these indicative costs:

• incorporation packages from S$109 inclusive of GST, with first-year secretarial services included;
• a registered address from S$327 per year;
• a nominee local director at S$2,180 per year where needed;
• annual tax filing support from S$327 per year.

Licences, if your activity needs them, add their own fees and processing time. Budget for professional bookkeeping from month one — it costs far less than reconstructing records at filing time.

Which Taxes Must a New Singapore Company Register For?

Corporate income tax filings depend on the company's assessment period; GST registration is compulsory when the applicable taxable-turnover tests are met.

Singapore's corporate income tax rate is 17% of chargeable income. The first Year of Assessment (YA) depends on the company's incorporation date and financial period; a company incorporated in 2026 should not assume that YA 2026 is its first filing year.

For each of its first three consecutive YAs, a qualifying start-up may exempt 75% of its first S$100,000 of chargeable income and 50% of the next S$100,000. It must be incorporated and tax-resident in Singapore for the relevant YA, with no more than 20 shareholders beneficially and directly holding its total share capital throughout the basis period. Either all shareholders must be individuals, or at least one individual must hold at least 10% of the issued ordinary shares. Certain investment-holding and property-development companies are excluded. Other companies may qualify for partial tax exemption: 75% of the first S$10,000 and 50% of the next S$190,000.

GST is 9% in 2026. Under the retrospective test, check taxable turnover at the end of the calendar year. If it exceeded S$1 million, apply by 30 January of the following year unless an exception applies. Under the prospective test, apply within 30 days of reasonably expecting taxable turnover to exceed S$1 million in the next 12 months. Voluntary registration is also possible, subject to conditions. Businesses applying voluntarily from 1 April 2026 generally need to comply with the GST InvoiceNow requirement. Our GST registration team can help assess the timing and conditions.

What Funding and Start-up Support Can a New Company Access in 2026?

From first-time founder grants to generous YA 2026 tax relief, Singapore actively subsidises new companies that meet the criteria.

Enterprise Singapore runs the Startup SG family of schemes. Startup SG Founder offers a grant of up to S$50,000 to eligible first-time founders, and Startup SG Tech co-funds proof-of-concept and proof-of-value work. Criteria are revised periodically, so confirm current terms before applying.

IRAS sweetens YA 2026 unusually. Eligible companies will receive a 50% rebate of their corporate tax payable for YA 2026, with total benefits capped at S$40,000 per company. Active companies that employed at least one local employee in 2025 also receive a S$2,000 cash grant. Eligible small and medium enterprises can receive up to S$2,500 under the SME Cash Grant 2026 with no application required.

The Enterprise Innovation Scheme (EIS) grants 400% deductions or allowances on qualifying expenditure — research, innovation and training among them — subject to caps. Eligible businesses may instead convert up to S$100,000 of qualifying spend per YA into a non-taxable cash payout at a 20% conversion rate.

Working capital financing runs through government-supported schemes with participating banks. Borrowing limits and risk-sharing terms are reviewed regularly, so plan on current published parameters rather than older figures.

What Are the Ongoing Compliance Obligations After Incorporation?

Expect a yearly rhythm — AGM, annual return and tax filings — plus new confirmation duties that took effect on 20 October 2026.

The Corporate and Accounting Laws (Amendment) Act 2025 introduced changes commencing on 20 October 2026. Companies filing annual returns must now confirm that ACRA's records are accurate for directors, chief executive officers, secretaries, auditors and relevant members. The annual return form also asks whether any individual performs the CEO role, even informally.

Registered office rules loosened on the same date. Fixed minimum opening hours are gone, but records must still be available for inspection. A company given reasonable notice must provide at least two hours of access on the relevant business day, and changes of registered office must be lodged within 14 days.

The tax calendar is unchanged and strict. Estimated Chargeable Income (ECI) declarations are generally due within three months of the financial year end. A company is waived from filing ECI if annual revenue is S$5 million or less and ECI is nil, subject to IRAS conditions. YA 2026 Corporate Income Tax Returns are due by 30 November 2026 — including for dormant or loss-making companies, unless waived. Notice of Assessment (NOA) payment falls due within one month, and objections within two months. From 1 July 2027, revisions and objections must be submitted through myTax Portal. Late or missing filings attract penalties of up to S$5,000.

Recurring obligations include:

• Holding the AGM within six months of the financial year end for a private company, unless exempt or dispensed with under the applicable rules.
• Filing the annual return within seven months of the financial year end for a non-listed company, or eight months if it has share capital and an overseas branch register.
• Appointing a locally resident company secretary within six months of incorporation.
• Keeping accounting records, statutory registers and shareholding information current.
• Paying CPF contributions for Singapore citizen and Permanent Resident employees, with the monthly wage ceiling at S$8,000 from January 2026.

Conclusion

Starting a business in Singapore is quick, but it is not casual. The founders who move smoothly pick the right structure, secure a compliant local director, budget beyond the S$1 minimum, and lock the compliance calendar before launch.

The 2026 environment rewards preparation. Official incorporation fees stand at S$315, YA 2026 carries a 50% tax rebate for eligible companies, and annual returns now carry new confirmation duties following 20 October 2026.

3E Accounting Singapore supports company setup in Singapore end to end: incorporation, nominee directors, registered address, secretarial, tax and payroll. Established in 2011, with 120+ specialists and an international network spanning more than 110 countries, we keep new companies compliant from day one. Speak with our team before you file anything.

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