Guide to Starting a Business in Singapore Updated 2025

For a company, input the initial paid-up capital amount, e.g., SGD 1 or more, and the number of shares. This is paid online (via credit card or other e-payment options) at the end of the application. Singapore’s ACRA BizFile+ portal allows you to file the registration online.

Setting up the company is just the first step. If you hold an EntrePass, you can log in and submit the application through ACRA’s Bizfile yourself. For this reason, most foreigners prefer a Pte Ltd, which offers full foreign ownership, scalability, and limited liability. If you want to relocate and manage your company from Singapore, you need a work visa. This guide walks you through the process step by step. “Who must register with ACRA?

A. Corporate Income Tax & Exemptions

Both requirements can be done online through Bizfile. To apply for GST registration, you can visit and follow the steps on the IRAS website. The annual returns must be filed within 7 months after the end of the company’s financial year. Once the company qualifies as a small company, it will keep this status in subsequent financial years until it no longer meets the criteria or ceases to be a private company during the financial year. Registering your business is only the beginning. A Unique Entity Number (UEN) is an identification number for your business, which can be found in the Business Profile.

Unique Entity Number (UEN)

In that case, the process can take 14 days to 2 months. In most cases, your company name will be approved immediately. You will then need to make a payment of SGD 15 to complete the process. Once you’ve filled in all the information, review and confirm your application, then click submit.

Step 1: Choosing the Right Business Structure

• You can check if the name you have in mind for your business is available on Bizfile.
• Now that you have everything ready, including your approved company name, you can proceed with incorporating your company.
• Yes, all companies must have a registered business address in Singapore.
• This is like an identification number for your business used in all government and many commercial transactions.
• To register your business, you may make an online application via the BizFile+ website.

The structure you choose will determine your liability, tax obligations, and operational flexibility.

The application fee for sole proprietorships and partnerships, LP and LLP is $100. Submit your application via BizFile+. P.O. Box addresses cannot be used.

After your company name has been sanctioned, the subsequent step involves registering your business. Initiating the formation of a company in Singapore involves securing approval for your business how to claim a new child on your taxes name through Bizfile+, which is ACRA’s online filing system. Key components required include appointing a nominee director, securing a corporate secretary, and maintaining a local office address. 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.

“Submitting your application via BizFile+.” Last updated April 9, 2021. “Reserving a business name.” Last updated March 4, 2021. “Choosing a business structure”.

The application fee is $15. A business name is the name your business will use to operate. You will need to understand the key differences between the structures and decide which is right for your business. Singapore has four main types of business structures.

• Singapore is widely regarded as one of the most business-friendly places in the world to launch a company.
• If you are the only person running your business, you may wish to register as a sole proprietorship, which has less administrative requirements.
• 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.
• If your company is GST registered and is no longer carrying on a business, you would also need to apply for cancellation of GST registration with IRAS.
• To set up a sole proprietorship or partnership, a foreigner must appoint at least one locally-resident authorised representative (citizen, PR, or valid work pass holder) and use a corporate service provider to submit the application.

You will need to deposit the share capital of the company into the bank account. However, the process can take longer depending on your planned activities and whether your business requires additional approvals. If you are a Singapore citizen or resident with SingPass access, you can register your business yourself using the BizFile+ portal. However, the business and owner are legally the same entity, meaning you are personally liable for any debts. It is a separate legal entity, meaning your personal assets are protected if the business incurs debt or legal issues. Before starting your business in Singapore, you need to choose an appropriate business entity.

Open to Foreign Entrepreneurs

“Addresses registered with ACRA.” Last updated April 19, 2021. All applications are usually processed and approved within 15 minutes of the payment of application fee. You must inform ACRA of any address change within 40 days of registration. You should register your business during this time six reasons why organic growth is so important as the business name will be released after the 120 days.

In Singapore, all incorporated companies must submit their annual returns within a certain period to remain compliant with the regulatory requirements. In Singapore, adhering to legal requirements is essential for conducting business activities. This expense increases for foreign proprietors or directors due to the requirement to use a registered agent. The fundamental cost incurred by local residents when they incorporate a company online is SGD 315. 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. 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.

Why foreigners choose Singapore to start a business

Miss a step and the penalties can be serious, including deregistration. Foreign-owned companies have to stay on top of compliance. However, if you plan to live in Singapore and take charge of the business, you’ll need either an Employment Pass or an EntrePass. Many foreigners choose service providers like Sleek to take care of everything remotely. With Sleek, you get more than incorporation. Appoint company what is an invoice number how to assign invoice numbers secretary

Your company’s FYE determines the deadlines for tax submissions and annual filings. While not strictly required at the time of registration, you must appoint a company secretary within six months of incorporation. While this guide covers the essentials of registering a business in Singapore, we focus mainly on private limited companies. Before you register a company in Singapore, you need to know if your business will require licences and permits to operate.

Private Limited Company

Upon registering your business, you will be issued a business profile containing details of your business as well as a Unique Entity Number (UEN) (i.e. your business’ identification number). Failure to register your business may result in a fine of up to $10,000, or imprisonment of up to 2 years, or both. For sole proprietors and partnerships, the application fee is $100 for one year or $160 for three years (inclusive of registration and renewal fees).

ii) Annual Returns

That’s why I’ve created this guide to provide practical, step-by-step instructions to make your Singapore company setup as smooth as possible. It’s no surprise that Singapore ranks among the top globally for ease of doing business. Thinking of incorporating a company in Singapore?

When establishing a new company in Singapore, there is an applicable registration fee of S$300. In Singapore, the cost structure set by the government for company registration is clear-cut. Subjected to Singapore’s corporate tax rate, these branch offices might also qualify for specific tax benefits based on their commercial activities. 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. 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. In Singapore, the private limited company is a favored business structure because of its benefits.

Maintaining Compliance

Now that you have everything ready, including your approved company name, you can proceed with incorporating your company. Failure to comply with these requirements can result in fines of up to SGD 5,000. The company’s sole director cannot also serve as its company secretary.