Singapore Company Registration for Startups

Singapore is one of the world’s most startup-friendly countries. Its strategic location in Southeast Asia, business-friendly regulations, low corporate taxes, excellent digital infrastructure, and strong legal system make it a preferred destination for entrepreneurs looking to establish a global presence.

Whether you're building a fintech platform, launching a SaaS startup, or starting an e-commerce brand, registering a company in Singapore can give your business legitimacy, access to funding, and proximity to Asian markets.

Key Benefits of Registering a Company in Singapore

• 100% foreign ownership is allowed

• Corporate tax rate is only 17%, with exemptions for startups

• Fast incorporation process, often completed in 1-2 days

• Strong IP protection and legal framework

• Access to international investors and venture capital

• No dividend or capital gains tax

• Efficient banking and fintech ecosystem

Startups that are looking to operate globally can use a Singapore entity as a headquarters or holding company to manage operations across Asia and beyond.

Legal Entity Types in Singapore

The most common business structure for startups in Singapore is the Private Limited Company (Pte. Ltd.), due to its flexibility and advantages. Here's a quick overview of entity types:

1. Private Limited Company (Pte. Ltd.)

• Separate legal entity

• Limited liability for shareholders

• Can have up to 50 shareholders

• Eligible for tax incentives and grants

• Preferred by investors and banks

2. Sole Proprietorship

• Simple to register

• Not a separate legal entity

• Owner is personally liable for all debts

• Not suitable for startups seeking funding

3. Limited Liability Partnership (LLP)

• Combines features of partnerships and companies

• Suitable for professional services

• Less common for tech startups or scalable ventures

For most startups, especially those seeking investment, Pte. Ltd. is the recommended structure.

Requirements for Registering a Company in Singapore

To register a company in Singapore, the following criteria must be met:

• At least one shareholder (individual or corporate)

• At least one resident director (Singapore citizen, PR, or valid visa holder)

• Company secretary (must be appointed within 6 months)

• Minimum paid-up capital of SGD 1 (can be increased later)

• A Singapore-registered address for the business

• A unique company name approved by ACRA (Accounting and Corporate Regulatory Authority)

Foreign entrepreneurs can also set up a company, but they will need a local nominee director or apply for an EntrePass to act as a resident director themselves.

Step-by-Step Guide to Registering a Singapore Company

Step 1: Choose a Company Name

Your name must be unique and not infringe on existing trademarks or company names. ACRA provides an online tool to check name availability. The name approval usually takes a few hours if there are no sensitive words.

Step 2: Decide on the Business Structure

Most startups choose Private Limited Company (Pte. Ltd.) for its scalability, liability protection, and investment-readiness.

Step 3: Appoint Directors and Shareholders

You must have at least one local resident director. If you don’t have one, you can hire a nominee director service through corporate service providers in Singapore. Shareholders can be individuals or companies, and 100% foreign ownership is allowed.

Step 4: Prepare Company Documents

You’ll need to submit the following:

• Company name and description

• Details of shareholders, directors, and company secretary

• Registered office address in Singapore

• Share capital information

• Company constitution (can use standard template provided by ACRA)

Step 5: Register with ACRA

You can register your company via BizFile+, ACRA’s online portal, or through a registered filing agent. The entire process typically takes 1 to 2 business days if all documents are in order.

Step 6: Open a Business Bank Account

Once your company is incorporated, you can open a corporate bank account in Singapore. Some popular banks include:

• DBS

• OCBC

• UOB

• Maybank

• Wise (for international transactions)

Some banks may require in-person meetings, while others support fully digital onboarding for foreign founders.

Step 7: Register for Taxes and Licenses (if required)

Companies in Singapore are automatically registered for corporate tax upon incorporation. However, depending on your business type, you may also need:

• GST registration (mandatory if revenue exceeds SGD 1 million)

• Business licenses for regulated industries (e.g., food, finance, education)

Step 8: Apply for Visas (if you're a foreign founder)

If you want to live and work in Singapore while running your startup, you must apply for an EntrePass. This is a work visa specifically designed for entrepreneurs with innovative and scalable businesses.

Step 9: Hire and Build Your Team

You can hire local or international employees. If hiring foreigners, you must apply for Employment Pass (EP) or S Pass depending on the salary and qualifications.

You must also contribute to CPF (Central Provident Fund) for Singaporean employees and comply with local labor laws.

Costs Involved in Company Registration

Here’s a rough breakdown of the initial costs:

• Name reservation: SGD 15

• Company registration fee: SGD 300

• Nominee director service (if required): SGD 1,500–3,000/year

• Company secretary: SGD 300–500/year

• Registered address: SGD 200–400/year

• Accounting and tax filing services: SGD 800–1,500/year

Most startups choose bundled packages from corporate service providers that include all essential services.

Tax Benefits and Incentives for Startups

Singapore offers generous tax schemes for newly incorporated startups:

• First SGD 100,000 of chargeable income: 75% exempt for the first 3 years

• Next SGD 100,000: 50% exempt

• No capital gains tax

• No dividend tax

In addition, there are government grants and schemes such as:

• Startup SG Founder Grant

• Productivity Solutions Grant (PSG)

• Enterprise Development Grant (EDG)

• Research Innovation Enterprise schemes

These programs are managed by Enterprise Singapore and support innovation, overseas expansion, and capability building.

Common Mistakes to Avoid

• Choosing the wrong business structure

• Failing to appoint a local director

• Not complying with annual filing requirements

• Using an invalid business address

• Ignoring tax deadlines or GST obligations

• Not protecting IP through trademark registration

Proper compliance and record-keeping are essential to maintain your company’s status and avoid penalties.

Running Your Startup After Incorporation

Once your company is registered, focus on building your product, growing your team, and acquiring customers. Singapore offers a rich startup ecosystem with co-working spaces, incubators, VCs, and government support.

Networking opportunities are abundant through startup hubs like:

• Block71

• LaunchPad @ one-north

• SGInnovate

• Action Community for Entrepreneurship (ACE)

These ecosystems offer mentorship, partnerships, and funding opportunities for early-stage startups.