Before incorporating a Singapore company, business owners need to ensure they have fulfilled the minimum requirements for company incorporation. In Singapore, the process of company incorporation for both local and foreign entrepreneurs involves an online process. The first step they need to do is to select a suitable business structure.
A private limited company or Pte Ltd business entity offers more advantages over Sole Proprietorship. With a private limited company, business owners will be free of company debts liability. Also, the company will have greater access to credit facilities from both local and global financial institutions. Revenues are taxed at corporate tax rates, and the company will enjoy tax incentives and exemptions.
Some key requirements to incorporate a company in the country include:
Business owners need to get their company name approval from ACRA. They can submit a name application through ACRA’s electronic portal called BizFile+.
Business owners need to have at least one resident director for company registration. The director can be either Singaporean, a permanent resident or an individual with a valid employment pass. A foreign company with no local people to appoint as a director can find a nominee either by itself or through professional agencies. The foreign company can also appoint its Singapore hired personnel as its company director to fit their needs.
The Singapore Companies Act requires every registered company in the country to appoint an eligible corporate secretary within six months of its incorporation. If the company only has one director or shareholder, business owners need to appoint a separate natural individual to become the company’s secretary.
Private limited Singapore companies need to have at least one and not more than fifty shareholders. Shareholders can be a person or another legal entity.
When registering with ACRA, the company needs to have a local Singapore address. The address should not be a P.O. Box.
When starting a Singapore company, business owners need to prepare a minimum paid-up or share capital of SGD 1, which means they only need minimal investment. They can raise the capital at any time after registration.
Decide on a business name and check if it has already been registered through BizFile+. You cannot register a business name that is registered by existing entities. If your preferred name has been registered by another company, consider other names or add words to the original name.
The approval is quick as long as the name is unique, not obscene, has no trademark or copyright infringement, and must not have been reserved by another individual or entity. Engaging us to be your partner company incorporation service provider means we will apply for your desired company name’s approval and ensure it does not violate any regulation.
After finalising a name for your business, you have to apply for it using BizFile+. The application process costs 15 SGD. After which, you have to wait for its approval. When approved, the name will be saved just for you for 120 days. During this time, you have to complete the process of registering your business or setting up your company. If you fail to do this within 120 days, the name will no longer be saved only for you. Other people might be able to use it.
Sometimes, the authorities might need to check the name you chose. For instance, if your business name has certain words like "architect," they might ask the Board of Architects Singapore to make sure it is okay. If they approve, you can use the name.
SSIC stands for the Singapore Standard Industrial Classification. It serves as the national standard to categorise the full spectrum of business activities possible for Singapore entities. SSIC is managed by the Department of Statistics and undergoes regular reviews and updates to mirror the country's evolving economic landscape, emerging business trends, and global standards.
The SSIC code is vital in determining whether your company's activities are subject to regulation and require a business license. It also influences your company's eligibility for grants, tax incentives, and governmental support programs. If your business activity demands a license, the Accounting and Corporate Regulatory Authority (ACRA) may employ it to direct your application to the relevant licensing department for approval. The Inland Revenue Authority of Singapore (IRAS) employs the SSIC code to ascertain a company's eligibility for tax incentives.
Regardless of whether you are operating the business alone or with partners, select the structure that suits you best. You should consider the benefits and considerations for every business structure.
Only a trusted company incorporation partner can shed light as to the type of company that is most suitable to the nature of your business.
We have different packages catering to your business’ diverse needs. Select the package you think is suitable for your corporate needs. To do so, you must identify whether you require additional services like:
Getting a company bank account is a good idea. Having one helps you a) keep business and personal money separate and b) keep track of your business money for taxes. Banks usually need people in charge and main directors to be in Singapore to sign papers for the account. Some banks might let you sign at their branches abroad or in front of a Notary Public, while other banks also may require supplementary documents on a case-by-case basis, such as completed corporate account opening forms and certified true copies of resolutions or the certificate of incorporation.
Aside from company incorporation, we offer relevant support services, such as accounting outsourcing, payroll, audit, tax, secretarial, and advisory services – all regulated by the Accounting and Corporate Regulatory Authority (ACRA).
Corporate Services Singapore works closely with you to ensure you have all the correct requirements before the incorporation of your company. We are committed to helping you from the incorporation process to securing employment passes. Our team will take care of the fundamental procedures of adhering to Singapore’s complex regulations while you focus on the management and growth of your business.
We offer competitively priced packages to launch your company. All prices are straightforward, with no hidden charges that may catch you off guard. This is a testament to our brand of honest and sincere service. With the help of Corporate Services Singapore, you can register your business, set up your business, and open your company’s bank account efficiently. We also deal with offshore corporations if you are a foreign company considering establishing in Singapore. You will find that our company services are an investment, not an expenditure.
Incorporating your company in Singapore does not have to be complicated. The most fitting Singapore incorporation services provider to register on your behalf is right in front of you. As an earnestly committed company incorporation agent for eight years, we can get your company running before you know it. Incorporate your company now, minus the hassle!
By using the Company Name Check service, you have fully agreed to our Terms of Use.
Note: The ACRA database for Name Search is not synchronized in real-time. As a result, recently incorporated companies names may not be reflected here. Last updated: June 2024
By using the Company Name Check Service, you have fully agreed to our Terms of Use.
Sole Proprietorship |
Partnership |
Limited Partnership (LP) |
Limited Liability Partnership (LLP) |
Private Company |
|
|---|---|---|---|---|---|
| General Information | A business owned by only one person | An association of at least two (2) people up to 20 venturing into business to profit | A partnership comprising at least two persons (at least one general partner and one limited partner) | A partnership comprising at least two persons where an individual partner’s liability is generally limited | A legal entity that is separate and distinct from its directors and shareholders |
| Eligibility | At least 18 years old
Singapore citizen/ permanent resident/ Entrepass holder For foreigners, an authorised representative who is a Singapore citizen |
At least 18 years old
Singapore citizen/ permanent resident/ Entrepass holder For foreigners, an authorised representative who is a Singapore citizen |
Both can be individuals (at least 18 years old) or corporations (limited liability partnership or company)
If the general partners are foreigners, they must appoint a local manager who is a Singapore resident |
Both can be individuals (at least 18 years old) or corporations (limited liability partnership or company)
At least one manager should be not less than 18 years old and a Singapore citizen |
At least one shareholder
At least one director who is at least 18 years old and a Singapore citizen If a foreigner wants to be a local director, he should apply for an Entrepass |
| Suitability | Suitable for small-scale business models with relatively low returns and risks | Suitable for small-scale business models with relatively low returns and risks | One partner is prepared to face risks | Suitable for professions like law, accountancy, architecture, and medicine | Suitable for any profession, vocation, or trade |
| Succession & Perpetual Existence | No perpetuity or perpetual existence as it is directly linked to the owner | No perpetuity or perpetual existence as it is directly linked to the owners | Dependent on the agreement and number of partners | Dependent on the agreement and number of partners | Has perpetuity or perpetual existence regardless of the shareholders’ status |
| Opportunity of Capital Funding | Personal assets only | Personal assets only | Personal assets and bank financing | Personal assets and bank financing | Yes |
Prices are recurring monthly fees which are listed in Singapore dollars. (Updated on September 2023)
Company Incorporation (S$300) And Name Application Fees (S$15) Will Be Reimbursed Upon Signing Up For A Private Limited Company Outsourced Accounting Package Or Bundled Services.
• Proposed name of the company
• Names, addresses, and copies of identification documents (e.g., NRIC, passport) of the proposed secretary, directors, and shareholders
• Information on issued or paid-up capital with a percentage of shareholding/share allotment
• The company’s principal business activities
• Registered company address
• At least one director and one shareholder
• At least one director must be a Singapore citizen
• Paid-up capital of at least 1 SGD
• Corporate Secretary
• Registered company address
A shareholder is someone who invests in the company hoping to receive a return on investment (ROI) through dividends or growth of the company’s value and shares. In contrast, a director is a person responsible for managing the operations of the company by making decisions objectively and acting in the best interest of the company.
To incorporate a company in Singapore, you’ll need to obtain the following requirements:
Once you have prepared the documents, you need to register your company with ACRA via their Bizfile website. On the website, you will find the eServices menu. Click the tab and look for “Local Company.” Afterwards, click “Start a New Local Company.” Finally, click “Application for New Company Name.” You need to submit the application form in order to complete the incorporation process.
This can take a few hours. In cases where you need to be transferred to another department, it might take up to 14 to 22 days.
An incorporated company is any business entity that has been registered under the Companies Act in Singapore. The law recognizes it as a separate legal entity from its owners.
There are different types of incorporated companies in Singapore, such as the sole proprietorship, limited partnership, or private limited company. Among these, the most popular company structure is the private limited company.
To verify if a company is registered in ACRA, first, you need to visit their bizfile. Then, on the search bar, type the name of the company you wish to check. ACRA will explore their existing database and present you with results that match your search.
The results will provide you with the following information:
● Company name
● Unique Entity Number (UEN)
● Company status
● Address
● Industry
● Compliance rating
You can even get their business profile and other documents for an additional fee.
Yes, a private limited company in Singapore can have one director, but the appointed individual must be a resident of Singapore.
While one director is the minimum requirement for corporate entities, the state law does not specify a maximum number of directors allowed. So, you and your shareholders can appoint as many directors as you want to run your business.
It is a statutory requirement to have a registered Singapore-based address. It must be a physical address where official correspondence transpires and company records are kept.
Once the incorporation documents have been signed and the incorporation fees have been paid, the Accounting Corporate Regulatory Authority (ACRA) can approve the registration within one (1) working day.
You may consider doing any of the following options:
• You can act as the local director if you have your Entrepreneur Pass approved.
• You can appoint a Singapore citizen you know to act as the local director.
• Company Services Singapore offers a nominee director service to help you fulfill this requirement.
The company’s incorporation date is when all the documents have been submitted to and approved by ACRA. You can find the date of company incorporation by going through ACRA’s registered company list. By using the company search tool or visiting the company’s business profile, you will find the company’s basic information, including the name, registration number, status, and address.
To get additional information such as business type, company’s date of incorporation, and name and position of business owners, you will need to buy the business entity’s profile.
The administrative fee to incorporate a company in Singapore costs a total of S$315. S$300 for the registration fee and S$15 for the company name reservation. However, the price can go up if you require other services.
For example, if you want to convert your company type to another structure, you will be required to pay an additional S$40. Other additional services might include company secretarial services, accounting, and filing, which can reach up to S$500 to $1,500, depending on the required scope of work.
A UEN stands for the Unique Entity Number, previously known as Singapore’s company registration number. It essentially works as the company’s identification and is composed of 9 to 10 digits which ACRA issues.
As the unique entity number, it works as a tool to conveniently interact with several government agencies and engage in corporate activities, like filing corporate tax returns and applying for permits. In other words, it’s the only identification you need to perform all types of transactions pertaining to your business.
ACRA grants you a UEN number upon company registration. But if you want to request a special UEN number, you can do so for an additional cost.
Many business owners lean towards a limited company structure because of the benefits it offers. For one, it limits the liabilities of the shareholders, so when debts, financial incidents, and legal matters arise, the law recognises the limited company as a separate entity from its owners, thereby protecting from the consequences of the business.
Another reason is its easy process of transferring shares and changing shareholders. In instances where resignation, insolvency, or death of shareholders occur, a limited company ensures the company’s succession.
Other reasons to consider a limited company structure include:
● Ease of increasing capital
● Establishing a credible image
● Tax incentives and benefits
There are three options for foreigners to incorporate a company in Singapore. If you plan to relocate to Singapore, you can register as a Private Limited Company by obtaining either an Employment Pass or EntrePass. However, if you plan to run your business from another country, you need to nominate a resident director to operate it locally.
If you need assistance setting-up your company in Singapore, Corporate Services Singapore offers incorporation for foreigners, including searching for a company name, paying ACRA incorporation fees, collecting and submitting documents, and obtaining the official Certificate of Incorporation.
Yes, the Companies Act of Singapore applies to foreign companies. Among the extensive list of laws, the Companies Act specifies the nature of business a foreign company can operate in, the number of local shareholders it must have, the obligations it must follow in terms of preparing and filing official documents, and the liability and penalty it will be given should the foreign company or the individuals responsible for it fails to comply with the stated guidelines.
Although many consider the Employment Pass and the Work Pass as falling under the same category of “work permit,” they don’t function the same way. Both passes require absolutely different visas.
An Employment Pass is for highly educated and high-paid foreign managers, directors, and professionals who want to move to Singapore to elevate their careers or start a new business venture. For this reason, the government has a set of qualifications for interested talents who want to apply for an Employment Pass.
A Work Pass is designated for unskilled workforce sourced from approved countries. As such, this is usually given to foreign workers who have experience in construction, service, manufacturing, and marine industries. Unlike an Employment Pass, the government does not require interested applicants to showcase valuable knowledge or skills in any field.
If you have a Work Permit and want to upgrade to an Employment Pass (EP), you need to first get an S-Pass. To go from a Work Permit to an S-Pass, you’ll need to meet two main criteria: salary thresholds and education qualifications.
Therefore, you need to take an S-Pass self-assessment tool to see if you’re qualified for an S-Pass. When you meet all the requirements, your employer will apply for an S-Pass on your behalf.
Once you’ve secured an S-Pass and want to upgrade to an EP, you first need to earn more education qualifications and work experience. Then, you’ll have to find a company willing to pay you a monthly salary of at least S$4,500. Finally, you need to stay on top of the stiff competition. To do this, you’ll need to demonstrate how your knowledge and skills can add value to not only the company but, more importantly, the country. Once you fulfil these requirements, your employer or appointed agent will apply for an EP.
The Employment Pass is eligible for foreign professionals who meet the following criteria:
● Have an existing job offer in Singapore
● Have worked in executive, managerial, or specialised roles
● Earns a fixed monthly income of a minimum of S$4,500
● Have acceptable education qualifications from reputable universities
● Demonstrates expertise in specialised skills
To know if you’re qualified to get an Employment Pass, you can take the Self-Assessment Tool (SAT). This test will show you if you are eligible for the pass.
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Your financial year end or FYE is a very important aspect that you should pay attention to if you are
The Corporate Service Providers Bill and the Companies and Limited Liability Partnerships (Miscellaneous Amendments) Bill were passed by the Parliament
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Your financial year end or FYE is a very important aspect that you should pay attention to if you are
The Corporate Service Providers Bill and the Companies and Limited Liability Partnerships (Miscellaneous Amendments) Bill were passed by the Parliament
