How to Register a Business in Singapore with ACRA: A 2025 Guide

How to Start a Business in Singapore: A Comprehensive Guide

Singapore is renowned as a global business hub with its strategic location, pro-business environment, and strong legal framework. It is considered one of the easiest places to start a business, thanks to efficient processes, low tax rates, and world-class infrastructure. Whether you are a local entrepreneur or a foreign investor, understanding the process of business registration in Singapore is the first essential step in launching your venture.

This guide walks you through the entire journey of setting up a business in Singapore—from choosing the right business structure to understanding funding opportunities and compliance requirements. With a growing number of entrepreneurs attracted to Singapore’s competitive market and business-friendly regulations, setting up your company correctly from day one is vital for long-term success.

Why Start a Business in Singapore?

1. Ease of Doing Business
   Singapore ranks highly on the Ease of Doing Business Index, with the Accounting and Corporate Regulatory Authority (ACRA) managing company registration through the BizFile+ platform. Registration can be completed within a day, ensuring entrepreneurs can quickly establish their businesses without bureaucratic delays.
2. Strategic Location for Global Access
   Singapore’s central location offers businesses easy access to the ASEAN market, China, and India. Its world-class port and Changi Airport make it an ideal hub for industries such as manufacturing, fintech, and logistics, helping businesses tap into global markets.
3. Strong Government Support
   Government initiatives like Startup SG Founder, Startup SG Equity, and support from Enterprise Singapore offer significant resources for startups and new ventures. These programs foster innovation and digital transformation, providing both funding and guidance to help businesses grow.
4. Attractive Tax Regime
   Singapore’s corporate tax rate of 17% is one of the lowest globally. Startups enjoy tax exemptions in their first three years, with no capital gains tax and a robust system for claiming tax deductions, making it ideal for maximizing profits and reinvestment.
5. 100% Foreign Ownership Allowed
   Unlike many countries, Singapore allows 100% foreign ownership, meaning foreign entrepreneurs can establish a business and maintain full control. You only need to appoint a local director (a Singapore resident) to meet legal requirements.
6. Minimal Bureaucracy & Regulatory Efficiency
   Whether you are registering a sole proprietorship or setting up a Pte Ltd company, Singapore’s clear guidelines ensure an efficient and streamlined registration process. The BizFile+ platform reduces paperwork and ensures fast processing.
7. Strong IP Protection
   Singapore’s intellectual property laws are robust, offering excellent protection for patents, copyrights, and trademarks. This makes it a prime location for tech startups and R&D companies, ensuring your business ideas are legally protected.
8. Skilled Workforce
   Singapore boasts a highly skilled, multilingual workforce. Government incentives support hiring and training of local talent, while Employment Pass (EP) and EntrePass visas make it easy to bring in foreign professionals to meet your business needs.
9. Thriving Startup Ecosystem & Networking Opportunities
   A vibrant startup ecosystem in Singapore includes incubators, accelerators, venture capitalists, and co-working spaces. Government-backed funding, coupled with a strong community network, provides startups with resources to thrive under Startup SG pillars.

Step-by-Step Guide to Register Your Business in Singapore

Step 1: Choose a Business Structure

Start by determining which business entity best suits your operations. The options include:

• Private Limited Company (Pte Ltd): Ideal for scalability, limited liability, and access to government grants.
• Sole Proprietorship: Suitable for small-scale, low-risk businesses.
• Limited Liability Partnership (LLP): Often chosen by professional firms.

The structure you choose will affect taxation, funding eligibility, and compliance obligations. Most entrepreneurs prefer Private Limited Companies (Pte Ltd) for their flexibility and liability protection.

Step 2: Reserve a Company Name

Your company name must be reserved via BizFile+. The name must:

• Be unique and not resemble existing businesses.
• Not contain offensive or sensitive terms.
• Avoid misleading descriptions.

Once reserved, the name is held for 120 days, giving you ample time to proceed with the company registration.

Step 3: Register Your Company with ACRA

To officially register your company, submit an application to ACRA via BizFile+. You will need to provide:

• Company name and SSIC code (to define your business activity).
• Details of shareholders, directors, and company secretary.
• A local registered office address in Singapore (not a P.O. Box).
• A minimum paid-up capital of SGD 1.

Registration costs:

• SGD 15 for name reservation
• SGD 300 for company registration

The process is typically completed within 15 minutes to 1 business day, unless further review is required. Once approved, you will receive:

• Certificate of Incorporation
• Unique Entity Number (UEN)
• Company Business Profile

Step 4: Open a Business Bank Account

After registration, open a business bank account with local banks like DBS, OCBC, or UOB. This allows you to separate business and personal finances, ensuring compliance with local tax laws and gaining investor confidence.

Step 5: Understand Costs and Compliance

Costs include:

• SGD 315 for company registration and name reservation.
• Licensing fees (depends on your industry).
• Accounting, legal, and secretarial services.

Compliance requirements include:

• Annual filing with ACRA
• Tax filings with the Inland Revenue Authority of Singapore (IRAS)
• GST registration if your revenue exceeds SGD 1 million

Step 6: Explore Funding and Growth Programs

After setting up your business, explore funding opportunities:

• Startup SG Founder: For new entrepreneurs.
• Startup SG Equity: For venture-backed startups.
• Enterprise Development Grant: For innovation and expansion.

These programs can help you scale your business and attract investors.

Step 7: Visas and Hiring

Foreign founders can apply for the EntrePass (for deep-tech sectors) or Employment Pass (EP) for skilled professionals. You may also apply for Dependent Pass or Long-Term Visit Pass for family members.

Step 8: Ensure Ongoing Compliance

After incorporation, your company must:

• Appoint a Company Secretary within 6 months.
• Maintain statutory registers and meeting minutes.
• Renew licenses as needed and file taxes on time.

Step 9: What to Know After Your Business Is Registered

Once your business is registered, you will receive the Certificate of Incorporation and Business Profile. These documents are essential for:

• Opening a business bank account.
• Applying for licenses.
• Maintaining company records.

Check whether your business needs any sector-specific licenses. If your annual revenue exceeds SGD 1 million, you must register for GST.

Final Thoughts

Singapore offers an efficient, low-cost environment to start a business, with clear regulations and government support for entrepreneurs. Whether you are local or foreign, the process is straightforward, and with the right planning, you can establish your company and start tapping into Southeast Asia’s lucrative market.

If navigating the process seems daunting, a corporate service provider can guide you through every step, ensuring you stay compliant while focusing on your business’s growth.