Your Ultimate Guide: How to Register a Company in Singapore

Key Takeaways

• To register a business in Singapore, you need at least one local director and a company secretary, a minimum share capital of S$1, a local registered address, and a corporate bank account to manage business finances separately.
• Choose and reserve a unique name, decide on a business structure, appoint a local director, prepare required documents, register with ACRA, and comply with ongoing filing and tax requirements.
• Registering a company in Singapore costs a minimum of S$315 for a private limited company and S$115 for a sole proprietorship, based on ACRA’s government fees.
• Registering a company is not the same as incorporating a company in Singapore.
• For assistance with company registration in Singapore, you can use the ACRA website, BizFile+ portal, and GoBusiness portal.

Singapore’s reputation as a world-class business hub makes it a prime location for entrepreneurs. The lion city is definitely a very business friendly place.

If you’re looking to launch a new venture, understanding how to register a company is the first critical step. This process, also known as business registration in Singapore, is streamlined and efficient, but it requires careful preparation.

Many aspiring business owners ask, “how to set up a company in Singapore?”, “how to incorporate a company in Singapore”, or “how to register a business in Singapore?” This guide will answer those questions and more.

We will walk you through the essential steps you need to register a company in Singapore, from choosing your business structure to submitting your application, and cover frequently asked questions to ensure your Singapore company registration journey is as smooth as possible.

 

Understanding Singapore Company Registration

Importance of business registration in Singapore

Why do we need to register our company in Singapore? Company registration in Singapore is a crucial step for entrepreneurs looking to establish a business in this vibrant economic hub. It not only legitimises the business but also provides access to various benefits, such as tax incentives and SME grants.

The process is streamlined and efficient, allowing for quick incorporation, which is essential in today’s fast-paced market. By incorporating a company in Singapore, businesses can enhance their credibility, attract investors, and ensure compliance with local regulations, ultimately contributing to their long-term success and growth.

 

Requirements for Registering a Business in Singapore

One director and one company secretary required:

At least one director, authorised representative, general partner, or manager must be a resident of Singapore.

Initial share capital, which may be fully or partially paid:

Companies can issue shares to shareholders that may be either paid or unpaid. The minimum amount of issued share capital is just S$1.

Local registered address required:

You must provide a business address in addition to your residential address. However, you can offer an alternative address for public records if you prefer not to have your home address publicly searchable.

One corporate bank account is required:

It allows you to distinguish between personal and business expenditures, streamline tax filing, and help create a financial profile for your business. Additionally, as your company grows and you start working with international clients and/or suppliers, an account that facilitates smooth cross-border transactions will be beneficial.

 

Steps to Register a Company in Singapore

1. Choose and reserve a company name: Ensure it is unique and complies with the naming guidelines set by the Accounting and Corporate Regulatory Authority (ACRA). Thereafter, reserve your company name on Bizfile+.
2. Decide on the company structure: Determine whether you want to set up a private limited company, sole proprietorship, limited partnership, or limited liability partnership. Each of these options comes with its own advantages and disadvantages, particularly regarding liability and annual reporting obligations.
3. Appoint directors and shareholders: A minimum of one director who is a resident of Singapore is required. Shareholders can be individuals or corporate entities.
4. Prepare the necessary documents: This includes the approved company name application with transaction number, a line that describes your business activities, SSIC Code, company constitution, identification documents of directors and shareholders, and a registered address in Singapore, etc.
5. Register with ACRA: Submit the application online through the ACRA portal, providing all required information and documents.
6. Pay the registration fee: The fee varies depending on the type of company being registered.
7. Obtain necessary licences and permits: Depending on your business activities, additional licenses may be required.
8. Open a corporate bank account: Choose a bank and provide the necessary documentation to set up your business account.
9. Comply with ongoing requirements: After registration, ensure compliance with annual filing and tax obligations.

 

Online vs Offline Business Registration in Singapore

Online business registration is the current, standard, and mandatory method in today’s world, while traditional offline registration has become obsolete. The evolution from offline to online registration is a key reason why Singapore is ranked as one of the easiest places in the world to start a business.

 

Checklist to Check Company Registration in Singapore

This entire process is done through BizFile+, the official online portal of the Accounting and Corporate Regulatory Authority (ACRA).

1. Prepare Your Information For Singapore Company Registration

• Visit the official website: Open your web browser and navigate to bizfile.gov.sg.
• Get the company’s name or UEN: You will need one of these to perform the search.
  • Company Name: The full legal name (e.g., “ABC Company Pte. Ltd.”).
  • UEN (Unique Entity Number): The company’s official registration number (e.g., 202012345A).

2. Use the Free Public Search Tool

• Find the search bar: On the BizFile+ homepage, look for the main search bar, often labelled “Search for Business Entity” or “Entity Search.”
• Enter the details: Type the company name or UEN into the search bar and press Enter or click the search icon.
• Complete the CAPTCHA: You will likely be asked to verify you are human by completing a “I’m not a robot” CAPTCHA.

3. Review the Search Results

• Find the company: You will see a list of matching results. Locate the exact company you are looking for.
• Check the “Status” column: This is the most critical piece of information.
  • “Live”: This indicates that the company is currently registered and in existence.
  • “Struck Off” / “Dissolved”: This indicates that the company is no longer registered and has been formally closed.
  • Other statuses: You may also see terms like “In Liquidation,” which indicates that the company is in the process of being closed down.

4. (Optional) Get Detailed Information

• The free search only provides basic details (Name, UEN, Address, Status).
• If you need to verify the company’s directors, shareholders, or compliance history, you must purchase a “Business Profile.”
• This report costs S$5.50 and can be bought directly from the search results page. It will be sent to your email as a PDF.

 

FAQs on Singapore Company Registration to Know About

How much does it cost to register a company in Singapore?

Based on the official government fees from the Accounting and Corporate Regulatory Authority (ACRA), the cost to register a company in Singapore varies depending on the business structure.

Here is a simple breakdown of the mandatory government fees. These are the minimum costs if you are a local resident doing the entire process yourself:

 

Is registering a company the same as incorporating a company in Singapore?

Not exactly, although the terms are often used interchangeably in casual conversation.

The key difference lies in the type of business structure you are creating.

“Incorporating” is a specific legal process. It refers to creating a Private Limited Company (Pte. Ltd.). The most important outcome of incorporation is that the company becomes a separate legal entity from you, the owner. This gives you limited liability, meaning your personal assets are protected from business debts.

“Registering” is a broader, more general term. It refers to the act of officially logging any type of business with the Accounting and Corporate Regulatory Authority (ACRA). This includes:

• Incorporating a Private Limited Company.
• Registering a Sole Proprietorship.
• Registering a Partnership.

For a sole proprietorship or partnership, you are simply registering the business name and your ownership. The business is not a separate legal entity, and you have unlimited liability (your personal assets are at risk).

Here is a simple breakdown:

In short, all incorporations are a form of registration, but not all registrations are incorporations.

When people say they want to “register a company in Singapore,” they almost always mean they want to incorporate a Private Limited company due to the limited liability protection it offers.

 

What is the minimum capital requirement for incorporating a company in Singapore?

The minimum legal capital requirement for incorporating a company in Singapore is S$1. When you incorporate a company, you must issue at least one share, and you may set the value of that one share to the minimum S$1.

Take note that this money is not paid to the government. It is the money that the shareholder pays into the company (e.g., into its corporate bank account once it is opened) and becomes the company’s first asset.

The S$1 legal minimum paid-up capital might sound enticing to aspiring entrepreneurs. Still, there are practical implications worth careful consideration, such as your operational needs and business credibility, which can affect how investors, banks, and corporate clients perceive your company.

 

How long does it take to set up a company in Singapore?

The process of setting up a company in Singapore is exceptionally fast, especially for straightforward applications.

For a standard application with all documents in order, the entire process can be completed in a mere 1 to 2 business days.

 

Is it possible to register a new company in Singapore?

Yes, it is absolutely possible to register a new company in Singapore. The country is globally recognised for its efficient, fast, and straightforward business registration process.

 

Can I set up a business without registering with ACRA?

In general, no. You cannot set up a business without registering with ACRA. Even freelancers, online shop owners, consultants, and home-based businesses —such as those selling pastries, coffee beverages— must register with ACRA.

The only exception to this business registration rule is if your business is conducted using your full legal name as it appears on your NRIC (e.g. Lim Koh Pi).

 

What are the common pitfalls to avoid when incorporating a company in Singapore?

Phase 1: During Application (Mistakes that cause delays or rejection)

• Wrong Business Structure: Choosing a Sole Proprietorship (which has unlimited personal liability) when a Private Limited (Pte. Ltd.) company (which offers limited liability protection) is the safer, more professional choice.
• Failing the Local Director Requirement: This is the most common show-stopper for foreigners. You must appoint at least one director who is a Singapore resident (a Citizen, PR, or EntrePass holder) before you can register.
• Problematic Company Name: Using a name that is too similar to another company, infringes on a trademark, or contains regulated words (like “Bank,” “School,” or “Finance”), which will cause rejection or long delays.
• Invalid Registered Address: Using a P.O. Box (which is not allowed) instead of a physical Singapore address. If you use a home address, you must ensure it’s registered under the Home Office Scheme.
• Wrong SSIC Code: Choosing an incorrect or vague business activity code (SSIC) can cause problems when opening a bank account or applying for licences.

Phase 2: After Incorporation (Mistakes that lead to fines and failure)

• Forgetting the Company Secretary: This is a major legal breach. You are required to appoint a qualified, resident Company Secretary within 6 months of incorporation. The sole director cannot also be the secretary.
• Ignoring Annual Compliance: Failing to hold your Annual General Meeting (AGM) and file your Annual Returns (AR) with ACRA. This is a mandatory annual duty, and failing to do so results in heavy fines and penalties.
• Neglecting Tax Filing: Forgetting that your company is a separate legal entity that must file its own annual corporate income tax with IRAS (Inland Revenue Authority of Singapore).
• Assuming ACRA Registration is Enough: Thinking that your ACRA registration is a “licence to operate.” Many industries (e.g., food, finance, education, travel) require separate, mandatory licences from other government agencies (like SFA, MAS, or MOE).
• Bank Account Issues: Underestimating the difficulty of opening a corporate bank account. Most banks require all directors to be physically present in Singapore for verification and may reject applications for high-risk or unclear business models.

 

What resources are available for assistance and support with Singapore company registration?

You can refer to the ACRA website, BizFile+ portal, and GoBusiness portal for starters. For budding entrepreneurs, definitely consider visiting SME Centres peppered across the island for invaluable guidance and support.

 

I’m a foreigner. Can I register a company in Singapore without moving here?

As a foreigner, you can establish a company in Singapore, regardless of your residency status. If you do not intend to relocate to Singapore, it is essential to ensure that at least one of the directors, authorised representatives, general partners, or managers is a resident of the country to comply with ACRA residency regulations.

 

Can I use a virtual office address for my business registration in Singapore?

When registering your business, you must furnish ACRA with both your business address and a residential address. If you prefer not to disclose your residential address publicly, you have the option to use a different address, such as that of a corporate service provider.

 

Is it possible for new companies or startups to get business funding?

Most definitely! New companies or startups obtain business funding from various avenues.

One common option is venture capital, where investors provide funds in exchange for a share of ownership, known as equity. Angel investors are another source, often individuals who invest their personal funds in early-stage companies.

Additionally, startups can apply for small business loans or SME loans in Singapore (e.g. business expansion loans, working capital loans, business loans for startups, etc.) from banks or licensed lenders. Before applying, remember to thoroughly review the business loan interest rates to ensure you are committed to the right loan.

Crowdfunding platforms also allow entrepreneurs to raise money from a large number of people, often in exchange for early access to products or rewards.

SME grants are fantastic for non-repayable funds, although they may be competitive and require specific qualifications.

Overall, while it can be challenging, numerous funding sources are available for new businesses. As it stands, companies can enjoy a suite of business loan benefits when applying for a business loan.

Keen to discuss or learn more? Contact us anytime you’re ready!