The Ultimate Guide to Singapore Company Registration in 2025: Steps and Costs Explained

 

Starting a new company in Singapore, specifically the process of Singapore company registration, involves a few clear steps and some required costs. In this guide, we will explain the whole process from start to finish, including the different types of business entities, compliance requirements, and associated fees that you need to know. Whether you’re a local or foreign entrepreneur, this article will help you navigate company registration in Singapore in 2025.

Key Takeaways

  • The company registration process in Singapore involves several key steps, including checking name availability, submitting a valid business registration application, and fulfilling all requirements such as appointing a nominee director and a dedicated corporate secretary.

  • Different types of business entities, such as Private Limited Companies and Sole Proprietorships, offer distinct advantages and disadvantages, affecting liability, tax obligations, and operational structure.

  • Understanding the costs associated with company registration, including government fees and service provider charges, is essential for effective budget planning and minimizing expenses.

Steps to Register a Company in Singapore

Singapore office buildings

Starting a company in Singapore has now become quite streamlined thanks to the well-organized infrastructure set up for those who will undertake it. The first step involves verifying whether the desired name for your company is even available, followed by advancing to the next stage of actual business registration shortly thereafter.

Key components required include appointing a nominee director, securing a corporate secretary, and maintaining a local office address. Once these prerequisites are met, you can typically finalize the entire registration within approximately three days.

Related: Singapore Company Registration Cost Guide

Name Application Process

Initiating the formation of a company in Singapore involves securing approval for your business name through Bizfile+, which is ACRA’s online filing system. This preliminary step incurs a minor fee of only S$15. Following approval, you have 120 days to register your business with the reserved name. Failure to do so will result in its release for others to claim.

Choosing a distinctive and pertinent company name is important as it reflects your brand’s essence and identity. Your chosen name should resonate with what your business represents while ensuring it does not violate any trademarks already in place. Thanks to Bizfile+’s intuitive interface, applying for your company name is straightforward and expeditious.

Need quick answers? 🤔 Fill out this short form below, and one of our experts will call you back ASAP—no hassle, no waiting.

Business Registration Process

After your company name has been sanctioned, the subsequent step involves registering your business. This process requires you to file an application through the Bizfile+ portal and can typically be completed within one hour. Foreign individuals without Singpass access are obliged to appoint a registered filing agent to assist with this procedure. The mandatory fee for incorporating a company stands at S$315, accompanied by the necessity of various documents including but not limited to the Company Constitution.

Following successful incorporation, your newly established business entity will be assigned a Unique Entity Number (UEN), which is a distinct identifier. You will obtain a complimentary copy of the Business Profile – an important document that outlines critical details about your new enterprise and proves indispensable for tasks such as initiating bank accounts and conducting other administrative transactions.

Types of Business Entities in Singapore

Know the right business structure for your needs

In Singapore, there is a range of business entities that cater to diverse business requirements and structures. Entrepreneurs must comprehend the unique attributes and prerequisites of each type—be it a Private Limited Company, Sole Proprietorship, or Branch Office—to determine which entity aligns best with their company needs when making an educated choice.

Private Limited Company

In Singapore, the private limited company is a favored business structure because of its benefits. It offers the company an independent legal entity status, which safeguards the personal assets of owners against debts and other financial obligations of the business. This type provides means for a more straightforward capital acquisition by offering new shares or drawing investors, requiring at least one shareholder but no more than 50. A Private Limited Company also has the capacity to hold property in its own name and operates under a constitution that specifies how it should function.

Unlike public companies whose shares are traded on stock exchanges, a Private Limited Company does not sell shares to the general public, affording greater control over who owns parts of the business. Such businesses that aim for growth and seek substantial investments find this structure suitable as it maintains a clear distinction between their personal finances and those of their enterprise legally and fiscally.

Sole Proprietorship

A sole proprietorship represents the most basic type of business entity, with a single person owning and operating it. In this form, there is no legal distinction between the owner and their enterprise. The primary benefits of such an arrangement are that the owner retains complete control over any profits made and has to meet fewer regulatory requirements, as earnings are subject to individual income tax rates rather than corporate ones. Should there be financial obligations or losses incurred by the company, the proprietor’s personal assets could be jeopardized due to direct liability.

For individuals running modest operations or those engaging in entrepreneurial endeavors alone who prefer uncomplicated management processes while accepting responsibility for potential liabilities themselves may find a Sole Proprietorship fitting. It presents an easy-to-manage system along with immediate authority. Still, it does come at certain costs like restricted eligibility for tax breaks and inherent risks attached to personal accountability across different kinds of business frameworks.

Branch Office

A Branch Office represents an outpost of a foreign parent company situated abroad and conducts operations under the same legal identity as its overseas counterpart, without constituting a distinct legal entity. For the establishment of such an office in Singapore, it is mandatory for the originating company to submit particular documents to ACRA (Accounting and Corporate Regulatory Authority), which include both a resolution from that parent firm and its business profile.

Subjected to Singapore’s corporate tax rate, these branch offices might also qualify for specific tax benefits based on their commercial activities. Opting for this arrangement enables international companies not only to penetrate local markets with relative ease, but also potentially diminish operational expenditures while establishing a presence in Singapore without undergoing full incorporation.

Costs Involved in Company Registration

It’s essential to grasp the financial implications of setting up a company in Singapore for effective budget management and planning. The expenses are divided into two main types: government fees associated with the registration process, and charges from service providers that may be engaged during this process, each carrying distinct costs and stipulations.

Government Fees

In Singapore, the cost structure set by the government for company registration is clear-cut. To reserve a company name through ACRA, there is a fee of S$15. When establishing a new company in Singapore, there is an applicable registration fee of S$300.

These fees are intended to cover the basic administrative expenses that come with registering a company.

Service Provider Fees

Fees charged by corporate service providers can differ significantly based on the included services. Commonly covered services within these fees include preparation of documents, provision of a company secretary, nominee directorship, and supply of a registered address for the company. The fundamental cost incurred by local residents when they incorporate a company online is SGD 315. This expense increases for foreign proprietors or directors due to the requirement to use a registered agent.

Different packages are provided by corporate service providers who strive to ensure that their pricing remains clear-cut, fair, and competitive. On top of these costs might come additional charges like those associated with opening up a bank account for your business entity along with expenses tied to obtaining official seals or certificates indicating incorporation status—understanding each element in this fee structure aids businesses in selecting options that yield financial efficiency.

Compliance Requirements

In Singapore, adhering to legal requirements is essential for conducting business activities. The corporate regulatory authority supervises several obligations stipulated by the Singapore Companies Act that companies must fulfill. These include submitting annual filings, assigning a company secretary, and keeping an up-to-date registered address for the company.

Annual Filings

In Singapore, all incorporated companies must submit their annual returns within a certain period to remain compliant with the regulatory requirements. For private companies, this submission should be made to ACRA no later than seven months after their financial year concludes. Public companies have up to five months post-financial year-end. The documents that need to be filed include detailed financial statements prepared in a prescribed format, which promotes transparency and accountability.

Failure to comply with these stipulations for annual filings may lead to punitive measures and could negatively impact the company’s reputation with ACRA. It is imperative for businesses to observe these deadlines diligently and ensure that all required documentation is thoroughly compiled and submitted on time.

Company Secretary

The role of a company secretary involves upholding the company’s compliance with all regulatory and legal obligations. It is mandatory for this position to be occupied by a Singapore resident, and it must not be left unfilled for a period exceeding six months. The duties of the company secretary include keeping statutory records, submitting annual returns on time, and confirming that the company conforms to stipulations in the Companies Act.

According to local laws, individuals or corporate entities who hold the position of company secretary must possess appropriate qualifications. Their professional knowledge is critical in ensuring that companies fulfill their statutory responsibilities effectively, thereby preventing potential legal challenges and fines from arising.

Registered Address

In Singapore, it’s mandatory for every business to maintain a registered address that is open to the public for a minimum of three hours within normal working hours. The use of P.O. boxes as an official registered address is not permitted. This location will receive all formal communications, and any alterations must be promptly communicated to the Accounting and Corporate Regulatory Authority (ACRA).

Should a local company lack its own or leased premises in Singapore, it has the option to engage a service offering registered addresses from an external supplier. Opting for such services with commercial locations can serve as the company’s official office, which not only boosts the business’s image but also assures adherence to legal obligations.

Opening a corporate bank account in Singapore is crucial for separating business and personal finances. Popular banks for business accounts include DBS, OCBC, and UOB. The process involves providing numerous documents, such as completed bank forms, board resolutions, and certified copies of incorporation certificates.

Key directors and signatories usually need to be present in Singapore for document signing, although some banks like Airwallex, Aspire, and WorldFirst offer remote account opening services. Banks may ask for additional documents based on specific requirements, and approval for a business bank account is not guaranteed.

Tax Benefits of Incorporating in Singapore

Opening a corporate bank account in Singapore is crucial for separating business and personal finances. Popular banks for business accounts include DBS, OCBC, and UOB. The process involves providing numerous documents, such as completed bank forms, board resolutions, and certified copies of incorporation certificates.

Key directors and signatories usually need to be present in Singapore for document signing, although some banks like Airwallex, Aspire, and WorldFirst offer remote account opening services. Banks may ask for additional documents based on specific requirements, and approval for a business bank account is not guaranteed.

Related: Singapore GST Guide for Business Owners

Tax Benefits of Incorporating in Singapore

Singapore company registration incentives

Singapore provides substantial tax incentives for newly incorporated Private Limited Companies. In their initial three years, such startups are eligible to receive a full exemption on the first SGD 100,000 of taxable income they earn. The prevailing corporate tax rate stands at an appealing 17%, and companies benefit from there being no taxation on capital gains. Singapore’s single-tier tax regime ensures that profits earned by companies face taxation just once, with no subsequent taxes imposed on profit distributions.

To minimize the burden of double-taxation on foreign-derived income, Singapore has established Avoidance of Double Taxation Agreements along with Unilateral Tax Credits for its businesses. If certain conditions are met concerning revenue and asset thresholds—specifically falling below SGD 10 million—companies may also qualify for audit exemptions. These fiscal advantages significantly enhance the appeal of setting up a business in Singapore due to the friendly incorporation climate it offers regarding taxes.

Using a Registered Filing Agent

Employing the services of a registered filing agent can facilitate the process of company registration, particularly for foreign individuals who do not possess a Singpass. Such agents are responsible for managing all required filings with ACRA on behalf of your business, and they typically offer additional support in maintaining compliance and organizing necessary paperwork to meet all regulatory standards.

To become qualified, these filing agents must complete an obligatory training program that concentrates on Anti-Money Laundering (AML) and Compliance aspects. When business owners opt to work with a registered filing agent, it enables them to focus their efforts more on expanding their businesses instead of getting bogged down by the intricacies associated with compliance management.

Verifying Company Registration

Ensuring the legitimacy of a company in Singapore and steering clear of fraudulent entities is critical. This can be accomplished by using ACRA’s Bizfile+ platform, which offers an extensive search tool for companies. By entering the name or registration number of a business, details like its operational status, registration number, and the nature of its activities are readily available.

Obtaining a business profile from ACRA gives you access to intricate information about that business, indicating whether it’s ‘live’ and actively operating at present. It’s imperative to keep abreast with regular updates regarding the operational status of any company as this contributes significantly to preserving its authenticity.

Common Challenges and Solutions

Business owners frequently encounter numerous obstacles when registering their company, ranging from adhering to regulatory requirements to overcoming barriers to entering the market. Utilizing a registered filing agent can help mitigate the chances of overlooking critical legal due dates. In Singapore, entrepreneurs often contend with lengthy working hours on a weekly basis, which underscores the importance of adept time management in maintaining work-life balance.

When conducting business across borders that involves operations tied to supply chains, disruptions and acquiring specific licenses may present additional complexities. While implementing potent marketing tactics is essential for expansion, several businesses grapple with creating a formidable brand identity in the competitive landscape.

Tips for Minimizing Registration Costs

Reducing registration expenses is a smart move for any startup. The fee associated with engaging a local nominee director often constitutes the most substantial part of both initial and ongoing costs. To alleviate this financial burden, consider appointing either yourself or members of your existing staff as directors, which can considerably diminish the outlay required for hiring a local nominee.

Conducting an in-depth market analysis can assist in locating corporate service providers offering competitive rates. Adopting cost-saving measures like enlisting current employees to serve as directors may result in significant economic advantages throughout the process of business registration.

Wrap-up

To successfully register a business in Singapore, one must adhere to an organized procedure that entails securing the approval for the company name and address from ACRA, compiling all required documentation, and presenting a thorough application. The efficient nature of Singapore’s business landscape enhances the incorporation process, demonstrating its dedication to facilitating entrepreneurship.

Enlisting professional help can refine the registration process and guarantee adherence to legal stipulations. Through meticulous planning and coordination, potential hold-ups and expenses can be markedly diminished, thereby establishing a robust base for your new business endeavor.

FAQss About Singapore Company Registration

  • Yes, anyone can register a company in Singapore as long as they meet the eligibility criteria set by the Accounting and Corporate Regulatory Authority (ACRA). The eligibility criteria include:

    • At least one director must be a resident of Singapore (i.e. a Singapore citizen, PR, EP or EntrePass holder).
    • The company must have at least one shareholder, who can be an individual or a corporate entity.
    • The company must appoint a company secretary, who must be a resident of Singapore.
    • The company must have a registered office address in Singapore.

    Note: Foreigners who don’t have a work pass can also register a company in Singapore, but they are required to satisfy additional requirements. For example, they will need to hire a local director and engage a corporate service provider (as they don’t have a SingPass ID to log in to the Bizfile+ Portal to register the company themselves).

    Regarding a local director, they can consider the following options:

    • Hiring a nominee director for the company (with the assistance of a corporate service provider like Piloto Asia).
    • Asking a local staff member (a Singapore citizen or PR) to act as the local director.

  • Registering a company in Singapore is simple, with a user-friendly online platform provided by the Accounting and Corporate Regulatory Authority (ACRA). If you have all the necessary documents in place and meet the basic requirements detailed in the article, you can complete the registration process in a single day.

    Additionally, if you need help with more complex company registration, look for personalized solutions and access to resources, you can engage a corporate service provider to assist you. The quick and efficient registration process makes Singapore an attractive destination for starting a business.

  • The standard corporate tax rate in Singapore is a flat rate of 17%. There is a partial tax exemption available for companies on their first SGD 200,000 of chargeable income, where 75% of the first SGD 10,000 of chargeable income is tax exempt and 50% of the next SGD 190,000 of chargeable income is tax exempt.

    Startups that meet certain qualifying conditions are eligible for a 3-year partial tax exemption on their first SGD 200,000 of chargeable income, with a 75% exemption on the first SGD 100,000 of normal chargeable income and a further 50% exemption on the next SGD 100,000 of normal chargeable income.

  • Yes, a single person can own a company in Singapore. There is no requirement for a minimum number of shareholders for a company in Singapore, and a sole proprietorship or a one-person company can be registered with just one individual as the owner, director, and shareholder.

    However, it's important to note that there are specific requirements that must be met. The most important one is having at least one local director who is either a Singapore citizen, PR, EP or EntrePass holder. If the sole director and shareholder is not a Singapore resident, they will be required to appoint a local resident as an additional director to meet the requirements set by the Accounting and Corporate Regulatory Authority (ACRA).

    Other requirements include appointing a company secretary who is a resident of Singapore and having a registered office address in Singapore.

  • The time it takes to register a company in Singapore depends on various factors, including the type of company being registered, the complexity of the business structure, the completeness of the required documentation, and whether the company registration needs to be referred to other government departments for review and approval.

    Therefore, the time required to complete the registration process can range from a few hours to several weeks or even months. It is important to provide all the required information and documents accurately and completely in order to reduce the chances of delays during the registration process.

    For example, registering a private limited company through Bizfile+, the online platform provided by the Accounting and Corporate Regulatory Authority (ACRA), can typically be completed within a day, while registering a variable capital company (VCC) may take 14 to 60 days as the application will be referred to multiple government departments for approval.

  • A business registration certificate in Singapore is a document issued by the Accounting and Corporate Regulatory Authority (ACRA) that confirms the successful registration of a company in Singapore. The certificate serves as proof of the legal existence of the company and confirms that the company has fulfilled all the necessary regulatory requirements.

    The certificate includes important information about the company, such as its name, registration number (i.e. UEN), the nature of the business entity (e.g. whether it’s a private limited company or not), and date of company registration. The business registration certificate is an essential document that companies are required to provide when opening a bank account, entering into contracts, conducting other business activities, and for transactions with overseas governments or agencies.

  • You can buy either an electronic or hardcopy version of the business registration certificate in Singapore through ACRA’s BizFile + portal. For the electronic version, simply make a payment of S$50, and you will receive the download link via email within 30 minutes.

    For a hard copy of the certificate, choose to either collect it from the reception of the Accounting and Corporate Regulatory Authority (ACRA) or have it posted to your preferred address.

  • Yes, a foreigner can be a director in a Singapore company. There is no restriction on the nationality of directors in Singapore, and foreigners are welcome to play a key role in the management and direction of a Singapore-registered company.

    However, there are certain requirements that must be met, such as obtaining a valid Employment Pass or Entrepreneur Pass if you intend to relocate and work in Singapore. Also, a Singapore-registered company must have at least one local director who is a resident of Singapore, i.e. a Singapore citizen, PR, EP or EntrePass holder.

    It is advisable to seek the advice of a professional services provider to ensure that all necessary requirements are met.

  • Yes, a foreigner can open a sole proprietorship in Singapore, provided he/she needs to hire a corporate service provider to assist the business owner with the necessary paperwork and company registration. Also, he/she needs to appoint an authorised representative who must be a local resident of Singapore.

  • To start a business in Singapore as a non-resident, follow these steps: choose a business structure, select a unique name, register with ACRA, get a nominee director if you are the sole owner, obtain necessary permits and licenses, open a corporate bank account, get a valid Employment Pass/Entrepreneur Pass if you plan to relocate to Singapore, and set up a physical office if required. Seek professional assistance to ensure all steps are taken and requirements are met.

  • Yes, foreigners can do online business in Singapore. However, they need to follow the same procedures and regulations as a resident, such as registering the business with the Accounting and Corporate Regulatory Authority (ACRA) and obtaining necessary permits and licenses if required.

    Additionally, online businesses may need to comply with specific regulations related to e-commerce, data protection, and other relevant laws. It is advisable to seek the advice of a professional services provider to ensure that all necessary steps are taken and requirements are met.

  • You can check if a company is registered in Singapore by visiting the BizFile+website and using the "Search ACRA Register" function. To use this function, you need to enter the company name or the Unique Entity Number (UEN) of the company. The search results will show the company's details, including its registered address, business activities, and the status of the business entity. If the company is not registered in Singapore, the search results will indicate that no information is available.

  • The company registration number, also known as the Unique Entity Number (UEN) of a company in Singapore can be found by searching for the company on the Accounting and Corporate Regulatory Authority (ACRA) website. The UEN is a unique identifier assigned to each registered company and used for government and business transactions. The UEN can also be found on official company documents such as business registration certificates and invoices.

  • Yes, you can register a company in Singapore online through the Bizfile+ website, which is an e-Services platform managed by the Accounting and Corporate Regulatory Authority (ACRA). The platform allows you to complete the entire registration process, including the submission of required documents and payment of fees.

    Please note that in order to access the BizFile+ portal, you will need a SingPass login. SingPass is only available for Singapore residents, so if you are a foreigner seeking to register your business in Singapore, you will need to work with an registration service provider that can help you gain access to the site. These service providers can assist you in navigating the registration process and ensure that all requirements are met, allowing you to complete the registration process smoothly and efficiently.

  • To check if a company name is available in Singapore, you can use the ‘Search ACRA Register’ function on the ACRA’s BizFile+ website. The function allows you to search whether your proposed company name has already been taken. If not, the name can be registered with ACRA. Before registering a company in Singapore, it is important to ensure that the proposed name is available and complies with the naming guidelines set by ACRA.

  • A registered office address in Singapore is the official address of a company, as recognized by the government and other authorities. It serves as the official correspondence and notification address for the company and is where government agencies will send official communications, such as tax and regulatory notices. Having a registered office address is a legal requirement in Singapore and is necessary for a company to be able to carry out its business activities.

  • A registered office address is the official address of a company registered with the Accounting and Corporate Regulatory Authority (ACRA) in Singapore, while a business address is a physical location where the company conducts its day-to-day operations and serves its customers. The registered office address is a legal requirement in Singapore and must be a physical address where official government correspondence and legal documents can be delivered.

    The business address, on the other hand, is used for operational purposes and does not need to be the same as the registered office address. The company may choose to have a separate registered office and business address for various reasons, such as maintaining the confidentiality or separating official and operational activities.

  • Yes, a residential address can be used as a registered office address in Singapore, but it must be a physical address and cannot be a P.O. box.

    To do so, you can apply for the Home Office Scheme with either Urban Redevelopment Agency or Housing and Development Board. This scheme allows certain businesses to be conducted from a residential address, subject to certain guidelines such as business not causing a disturbance or inconvenience to neighbours and hiring up to two non-resident employees etc.

  • Yes, a virtual office can be used as a registered office address in Singapore for company registration purposes. A virtual office provides a physical address for a company to register as its official address without the need for a physical office space. The virtual office service provider typically offers mail and call handling services, allowing the company to receive mail and calls at the virtual address.

  • Yes, a sole proprietorship in Singapore must be registered with the Accounting and Corporate Regulatory Authority (ACRA).

  • The cost of registering a sole proprietorship in Singapore is low, as there is no need to file annual returns or hold annual general meetings. You need to pay a fee to register the business with the Accounting and Corporate Regulatory Authority (ACRA) and to obtain a Unique Entity Number (UEN). It costs S$115 for a one-year registration and S$175 for a three-year registration.

  • A sole proprietorship in Singapore can be set up by an individual who is a Singapore Citizen, Permanent Resident, or foreign national with a valid work pass. The individual must be 18 years old or above and must be the sole owner of the business, who is responsible for all debts and liabilities incurred by the business.

    Foreigners can also set up a sole proprietorship in Singapore but they need to engage a registered filing agent to file the application for company registration on the BiFile+ portal. An authorised representative who is a local resident of Singapore must also be appointed.

  • Yes, a personal bank account can be used for a sole proprietorship in Singapore. However, it is recommended to open a separate business bank account to avoid mingling of personal and business finances. This makes it easier to manage your finances and prepare financial statements for tax and accounting purposes.

  • Absolutely! Once your company is registered in Singapore, outsourcing your accounting tasks is a smart decision. At Piloto Asia, we offer outsourced accounting Singapore services that can save you both time and money, while ensuring your financial records are accurately maintained by qualified professionals. Our team is dedicated to providing seamless accounting solutions tailored to your business needs. Reach out to us at Piloto Asia, and let's streamline your accounting processes together!

  • The term intermediate holding company meaning' in the broader context of Singapore company registration refers to a company that holds a controlling interest in another company, which in turn holds a controlling interest in the operating companies. It is essentially a subsidiary of a holding company and itself holds shares of other companies. Singapore's strategic location and robust financial landscape make it an ideal place for multinational businesses to establish these companies. Amid various advantages, an intermediate holding company in Singapore may allow for more efficient management of international business-related risks and taxes.

  • Corporate tax filing in Singapore is governed by the Income Tax Act (ITA). The ITA specifies that all companies incorporated in Singapore are required to file an annual tax return with the Inland Revenue Authority of Singapore (IRAS) by November 30 of each year. A calculation of the company's taxable income and the amount of tax due must accompany the tax return.

  • The income tax filing deadline 2024 in Singapore is 30 November 2024.

  • Registering a holding company in Singapore offers several strategic advantages for businesses. This structure allows for effective consolidation of operations, tax optimization, and efficient risk management. Singapore's stable economy, favorable tax policies, and strong legal framework make it an ideal location for a holding company. Additionally, such a company can benefit from Singapore’s strategic position for regional and global market access. For expert guidance on setting up a holding company in Singapore, Piloto Asia is here to help. Our team can assist you in navigating the registration process and maximizing the benefits of your business structure.

  • The set up company cost can vary depending on several factors, such as the type of company you want to establish, or whether you need additional services like accounting, tax, or visa applications.

    Typically, the standard cost for company registration with Piloto Asia, Singapore's #1 corporate service provider and business information resource is about SGD 800-1500. This cost includes a name check and reservation, company constitution, and all regulatory filing fees.

    However, this is a basic estimate, and additional services you opt for will add to the set up company cost. We suggest contacting us for a detailed quote, and we'd be happy to guide you through the process.

Company Registration GuideRaymond Chan