How to Setup Company in Singapore: A Step-by-Step Guide for 2025

Thinking of starting a business in Singapore? You’re not alone. With its pro-business environment, strong legal system, and strategic location, Singapore remains one of the top choices for entrepreneurs and international businesses alike.

This article offers a practical guide on how to setup a company in Singapore, covering everything from key preparations to required documentation, timelines, and estimated fees—based on the latest regulations from ACRA 和 EDB in 2025.

What You Need to Prepare

Setting up a company in Singapore involves specific statutory requirements governed by ACRA and relevant laws. Here are the key elements you need to prepare before registration:

✅ Company Name (Primarily in English)

You must choose a unique English name that complies with ACRA’s guidelines and is not identical or too similar to existing entities or trademarks. Name reservation is instant via BizFile+.

✅ Business Activity (SSIC Code)

You need to select an appropriate SSIC (Singapore Standard Industrial Classification) code that best describes your company’s main business activities. This will determine licensing and tax obligations.

✅ Directors

You must appoint at least one director, and at least one must be ordinarily resident in Singapore (i.e., a Singapore citizen or PR).
✔ Nominee director services are available for foreign entrepreneurs.

✅ Shareholders

Your company must have at least one shareholder (individual or corporate).
✔ 100% foreign shareholding is permitted.

✅ Registered Address

Every company must have a local registered office address in Singapore (cannot be a P.O. Box).
✔ CSPs often provide registered address services.

✅ Company Secretary

Appoint a qualified corporate secretary within 6 months of incorporation. This person must be ordinarily resident in Singapore.

✅ Constitution

Submit a Company Constitution, which outlines the internal rules governing your company. You may adopt ACRA’s standard constitution or use a custom version.

✅ Paid-Up Capital

There is no minimum capital requirement. The typical starting amount is S$1. However, some industries may require a higher capital amount for licensing or tender qualification.

Choosing the Right Business Structure

Your business structure determines liability, tax treatment, and expansion potential. The main options in Singapore include:

1. Private Limited Company (Pte Ltd)

✔️ Most popular for startups and SMEs
✔️ Separate legal entity with limited liability
✔️ Eligible for corporate tax exemptions and government grants
✔️ Allows 1–50 shareholders

2. Sole Proprietorship

✔️ Simple and low-cost
❌ No legal distinction between owner and business
❌ Owner bears full personal liability

3. Limited Liability Partnership (LLP)

✔️ Combines flexibility of partnerships with limited liability
✔️ Suitable for professionals (e.g., consultants, accountants)
❌ Requires active partner participation

Recommendation: Foreign investors and local entrepreneurs typically opt for the Private Limited Company due to its legal protections, credibility, and ease of scaling.

Step-by-Step Company Registration in Singapore

Setting up a company in Singapore involves several clear, structured steps. The process is efficient and can typically be completed in under a week—provided all documents are in order.

✅ Step 1: Company Name Reservation

• Apply for your proposed business name via ACRA’s BizFile+ portal.
• Approval is usually instant, unless the name requires referral (e.g., regulated industries like finance or healthcare).
• Once approved, the name is reserved for 60 days and can be extended if needed.

✅ Step 2: Submit Incorporation Documents

• Prepare and submit all required company information, including:
  • Business activities (SSIC codes)
  • Director and shareholder details
  • Registered address in Singapore
    
  • Company constitution

• Incorporation is typically completed within 1–5 working days.

✅ Step 3: Issuance of Certificate of Incorporation

Once your application is approved, you’ll receive:

• A Certificate of Incorporation (which requires a fee to obtain)
• A Unique Entity Number (UEN)
• A downloadable BizFile business profile from ACRA’s portal

✅ Step 4: Open a Corporate Bank Account

• After incorporation, you may apply for a corporate bank account.
• Processing time varies by bank, often taking 2 to 6 months, especially for foreign-owned entities.
• Some banks may require in-person interviews or video verification.

Compliance Requirements

Once your company is registered, staying compliant with Singapore’s corporate laws is critical. Here are the key ongoing obligations for all companies incorporated in Singapore:

✅ Company Secretary

• You must appoint a qualified company secretary within 6 months of incorporation.
• The company secretary must be an individual who is ordinarily resident in Singapore.
• A sole director cannot also serve as the company secretary.

✅ Annual Filing

• Every year, companies must file an Annual Return (AR) with ACRA.
• Financial statements must be prepared and submitted unless exempted.

✅ Accounting & Audit

Audit is mandatory if your company meets any two of the following three conditions:

• Annual revenue exceeds S$10 million
• Total assets exceed S$10 million
• Company employs more than 50 people

✅ Financial Statements

• All financial reports must follow the Singapore Financial Reporting Standards (SFRS).
• Even if your company is dormant or exempt, proper records must still be maintained for compliance checks.

✅ Corporate Tax Filing

You must file with IRAS:

• Estimated Chargeable Income (ECI) within 3 months of your financial year-end
• Form C or Form C-S (corporate tax return) by the specified deadline each year

✅ Employment Compliance

If you hire local employees, you are required to:

• Make monthly Central Provident Fund (CPF) contributions
• Comply with the Employment Act, which governs contracts, leave, and working hours

✅ Data Protection (PDPA)

• Companies that handle personal data (customer, employee, etc.) must comply with the Personal Data Protection Act (PDPA).
• This includes implementing proper data protection policies and obtaining clear consent from individuals.

Tax Benefits & Government Support

✅ Corporate Tax Exemptions

• First S$100,000 of chargeable income: 75% tax exemption for the first 3 years
• Next S$100,000: 50% exemption
• Chargeable income above S$200,000: Fully taxed at 17%, among the lowest globally
• First S$10,000 of chargeable income: 75% tax exemption after 4 years onwards
• Next S$190,000: 50% exemption
• Chargeable income above S$200,000: Fully taxed at 17%, among the lowest globally

✅ Enterprise Singapore Grants

• Support for market expansion, innovation, productivity, and overseas growth
• Available for eligible SMEs and startups

Timeline & Fees Breakdown

Note: Foreigners without a local director must engage a registered Corporate Service Provider (CSP) for incorporation and compliance.

Additional Services: Industry-Specific License Planning

At Ei-Biz, we offer more than just incorporation services. Our team helps you stay compliant with licensing across regulated industries, including:

1. BCA Licensing – For construction firms, including manpower quota planning
2. Precious Stones & Metals Dealers (PSMD) – AML/CFT-compliant licensing
3. Massage Establishment Licenses – Including zoning and police approvals
4. F&B Licensing (NEA) – Layout, food hygiene, and outlet approval
5. Liquor Licensing – For dine-in and retail businesses
6. HSA Licensing – For cosmetics, medical devices, pharmaceuticals
7. Import Licensing – For controlled goods requiring AVS/HSA/SCDF clearance

Let us handle the paperwork while you focus on growing your business.

Ready to Register Your Company in Singapore?

Whether you’re a local entrepreneur or a foreign investor, understanding how to setup a company in Singapore can be your first step toward building a successful business in Asia.

Ei-Biz offers incorporation packages, nominee director services, and license advisory tailored to your industry.

Contact us today for a free consultation and take the hassle out of starting your business.

Frequently Asked Questions (FAQs)

1. Can a foreigner register a company in Singapore?
Yes. 100% foreign shareholding is allowed. If no local director is available, a CSP must be appointed to provide nominee local director services.

2. What is the minimum capital required to start a company in Singapore?
Only S$1 is required to start, but some industries may demand higher capital for licensing or tenders.

3. How long does it take to incorporate a company in Singapore?
If all documents are in order, incorporation can be completed within 1–2 business days via ACRA’s BizFile+ system. Name reservation usually takes less than a day.

4. Do I need to be physically in Singapore to start a company?
No physical presence is required, but personal information verification is needed. Bank account opening may still require a short video call or meeting with the bank.

5. What is a Unique Entity Number (UEN)?
The Unique Entity Number (UEN) is a unique identification number issued to all entities registered in Singapore. It is used for all official transactions and filings with government agencies and regulatory bodies.

6. What are the annual compliance requirements after registration?
Key requirements include:
• Holding an Annual General Meeting (AGM) (unless exempted)
• Filing Annual Returns with ACRA
• Maintaining statutory registers (including the Register of Registrable Controllers)
• Submitting tax returns to IRAS
• Filing of DPO (Data Protection Officer)

7. Can I use a home address as my registered office?
Yes, if you’re not operating a retail-facing business and URA’s HDB/Home Office Scheme rules are followed. However, using a commercial or CSP-provided address is more professional and often preferred for credibility.