Company Registration in Singapore

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Singapore Company Registration2023-11-30T17:31:46+08:00

Key Note

Whether you are a foreigner looking to set up a company in Singapore or an existing business owner who wishes to expand and register a new company, you’ve come to the right place!

Singapore has gained a global reputation as a prime destination for entrepreneurs and corporations alike due to its strategic location, robust economy, political stability, and business-friendly policies.

No matter you are a local resident or an international investor, our expert team is here to guide you through the process of incorporating your company in Singapore smoothly and efficiently. With our decades of experience and in-depth knowledge of Singapore’s corporate landscape as well as regulatory requirements, we are here to navigate you through the complexities and ensure full compliance with all necessary procedures.

Let us help you to unlock the myriad opportunities that Singapore offers for your entrepreneurial journey and give you the best company incorporation experience in Singapore.

Understand Singapore’s Company Registration Requirements

The requirements for registering a company in Singapore are simple and straightforward. They are:

Check Your Company Name through ACRA using our free tool!

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How to Register a Company in Singapore?

Now that you know the requirements to set up a company in Singapore, swipe to see the step-by-step guide on registering your new company and use our free tools – company name checker & SSIC code search engine.

Step 1: Select a company name and types

Finding a suitable and memorable company is a crucial foundation for business success. It is essential to ensure that your company’s chosen name complies with the guidelines and regulations set by the authority. Check and register your company name in Singapore through ACRA using our free tool!

Step 2: Check your Singapore business activity code

The SSIC provides a comprehensive list of codes and descriptions for various industries and economic activities. It is important to accurately select the BAC that closely aligns with your primary business operations to ensure compliance and proper reporting to regulatory authorities. Search your primary business activity to find your SSIC Code that is required by ACRA to complete your company registration.

Step 3: Apply for business license

Tap on our patented digital platform to fill up the information to generate filled-up company incorporation documents. All processes are done online – from form submission to signing of all documents. We will proceed with your company registration with ACRA once we have the finalised documents. Once registered, all your company detail and documents will be uploaded into the digital platform.

Singapore offshore company incorporation is a viable option – means no need for you to travel down to Singapore if you are based overseas.

Step 4: Open a Bank Account

Opening a corporate bank account is the second significant step for entrepreneurs to manage their finances and conduct financial transactions after setting up their companies. To open a corporate bank account, you will need to provide documents such as proof of company registration, company structure details, identification of company directors and shareholders, proof of address, and the company plan. The bank will conduct its due diligence to assess the company’s risk profile and compliance with anti-money laundering and know-your-customer regulations.

Banks Aspire Digital Bank, OCBC Bank, and DBS Bank have allowed virtual account opening. As for UOB, in most they would call for a face-to-face meeting cases to complete the assessment and compliance for the applicant.

The estimated timeline to open a corporate bank account is 3 – 4 weeks. You can access the full guide to corporate bank account opening here.

Step 5: Stay compliant

After you’ve successfully incorporated your company, you are bounded by governmental regulations. These include corporate secretarial activities, accounting, corporate tax filing, and compiling of financial statements. Leave all compliance work to our Chartered Accounts to never miss a deadline – penalties are involved if you miss!

What documents do I need to incorporate a company in Singapore? 

We have prepared an important checklist for you to check on prior to the official incorporation of your company in Singapore.

  • Company Name
  • Brief explanation of your company’s business activities & SSIC Code
  • Particulars of your company’s shareholders and KYC information
  • Registered Singapore Business Address
  • Share capital details
  • Company’s Constitution
  • Copies of Identification documents such as passports and national identification cards for shareholders and directors
Singapore audit team discussion

How long does it take to incorporate a company in Singapore?

The safest timeline for company setup in Singapore ranges from 5 to 7 working days. However, it can vary depending on several factors, including the efficiency of collaboration between the company secretary and the shareholders/directors. One significant factor influencing the timeline is the promptness with which each shareholder and director provides their personal documentation, such as proof of identification and residential address, to the company secretary for verification.

The faster these documents are submitted, the quicker the company secretary can proceed with the necessary paperwork and registration process. While some company setups can be completed within a few hours, others may take a few days if there are delays in gathering the required documentation. It is crucial for shareholders and directors to understand the importance of timely document submission to expedite the company setup process and ensure a smooth and efficient incorporation experience.

Your Questions, Answered

Starting a new company can be daunting – here are the top 5 questions regarding Singapore company registration that will clear your doubts!

What is a MOA?2023-08-04T14:17:24+08:00

A Memorandum of Association (MOA) is a legally binding document that is drafted during the incorporation and registration of a company, both in Singapore and some other jurisdictions. Its primary purpose is to establish the company’s association with its shareholders, outlining their rights and responsibilities. The MOA is a publicly accessible document that contains essential information about the company. It is typically prepared by a company secretary

What types of entities are eligible for Singapore incorporation services?2023-02-21T11:29:33+08:00

In most cases, we recommend our clients to get Singapore incorporation services for a private limited company. The other types of entities that you can register include sole proprietorship, partnerships, limited partnership, limited liability partnership, foreign branch, and foreign representative office.

Is Singapore company registration possible if the owner is currently overseas?2023-02-21T11:33:10+08:00

Yes, we can support your Singapore company registration remotely. You will only need to get in touch and provide us with the necessary documents for a smooth and efficient registration.

Can a foreigner incorporate a company in Singapore?2023-02-21T11:33:53+08:00

Definitely – in fact, the government is encouraging foreigners to invest and set up a company in Singapore! However, foreigners must have an EP, local resident director, and registered address in the country for the business to be eligible for Singapore company incorporation.

How do you incorporate a company in Singapore?2023-02-21T11:35:21+08:00

Singapore company incorporation is a difficult task. However, with our incorporation services, you will only need to fulfil all the requirements and you’re all set to have your new company up and running. Find out the detailed process in our article here!

What are the documents required for incorporation of a company in Singapore?2023-02-21T11:38:15+08:00

For successful Singapore company registration, you will need to submit the following:
> Company name
> Company business activities
> Details of both shareholders & directors
> Details of appointed company secretary
> Identification documents of all stakeholders
> Registered address in Singapore
> Company constitution

What is an offshore jurisdiction?2020-10-01T17:41:16+08:00

This is the country in which your offshore company exists and which has an influence on your offshore company.

Can a foreigner be a shareholder?2020-09-30T16:37:19+08:00

Yes, a foreigner can be a shareholder in a Company that is registered in Singapore. 

Can a director of My Singapore Company be a foreigner? 2022-06-17T16:28:54+08:00

All Singapore companies should have at least one director who is a Singapore Citizen or one who holds a Singapore permanent resident or an employment pass holder. However, a foreign director can be appointed alongside the local director. 

Can a foreigner start a company in Singapore? 2020-09-30T16:33:09+08:00

Yes, a foreigner is permitted to incorporate a company in Singapore. A foreigner intending to relocate to Singapore or those who have employment pass can incorporate a Singapore company. 

How long will it take me to incorporate a company in Singapore?2020-09-30T16:33:43+08:00

Incorporation of a company in Singapore usually takes one day. However, it might take 14 days to 2 months if there is a government body that should approve the process’s initiation. 

Is it easy to start a business in Singapore?2020-09-30T16:35:01+08:00

The process of incorporating a business is simple and straight forward. It takes only a day to incorporate a company in Singapore. Besides, Singapore has a network of over 50 DTAs to curb the double taxation problem for its investors. Singapore was the 1st in ease of doing business according to the World Bank’s 2019 survey. 

Why should I offshore my company?2020-10-01T14:35:12+08:00
  • In most cases, the rules and regulations of a corporate company are less strict in a foreign country than in the home country.
  • There is discretion when it comes to financial accounting.
  • Offshore in a country that is a tax haven and you get to pay less tax.
  • You won’t have to pay corporate taxes for your limited company in your home jurisdiction.
  • The general public does not have access to the confidential information of an offshore company.
  • Your assets are always safe and protected by the country you offshore in. There is also a separate legal system in those countries which ensures malicious entities do not break into your assets.
  • Offshore company incorporation gives the entrepreneurs an opportunity to house intellectual property and global trademarks because of the strong legal system.
What is a tax haven?2020-10-01T14:35:30+08:00

This is a country with a small economy that has chosen to impose low or zero tax rates and has reduced complex charter laws on incorporated companies in order to attract international corporations and non-residents and thus earn foreign exchange. 

What are the responsibilities of shareholders in a company?2020-10-01T14:36:15+08:00
  • Payment of their shares.
  • Electing the director or board of directors depending on the company’s size.

Singapore Company Incorporation Articles

Supplement your existing knowledge with additional insightful readings that we’ve crafted based on our 14 years of experience.

Ready to Register in Singapore?

We have registered businesses from various industries across Singapore, Malaysia, Indonesia and Hong Kong. Twenty years of cumulative experience have familiarized us with the twists and turns in company registration businesses include 93% success rate for Singapore Employment Pass.

With the help of our dedicated team and reliable incorporation services, your company will become incorporated in no time.

Discuss with us and pick a structure

Choose a suitable name for your company

Upload your documents to our platform

E-sign the incorporation papers we prepare

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