Starting a business in Singapore involves more than registering a company. You first need to choose the right business structure, understand the registration requirements, and prepare the essentials for running your business.
The registration itself is handled through the Accounting and Corporate Regulatory Authority (ACRA). After registration, you may also need a business address, corporate bank account, licences, and other arrangements depending on your business.
This guide walks you through the key steps involved, from choosing a business structure and completing company registration to setting up your operations and maintaining ongoing compliance.
Why Start a Business in Singapore?
Singapore offers a practical base for businesses that want to operate in Southeast Asia. Its established infrastructure, clear regulations, and business support make it suitable for both new ventures and companies expanding into the region.
Singapore's Business-Friendly Environment
Singapore has a stable regulatory environment and well-developed infrastructure that supports day-to-day business operations. Its location also provides access to major Southeast Asian markets, while government programmes offer support to eligible startups and foreign businesses.
Who Can Start a Business in Singapore?
Both local and foreign entrepreneurs can set up a business in Singapore, subject to the relevant registration and regulatory requirements. Foreign companies can also establish a presence through options such as a subsidiary, branch office, or representative office.
However, owning a Singapore company does not automatically give a foreign entrepreneur the right to work in Singapore. Anyone who plans to live and work in the country may need to meet separate immigration or work pass requirements.
Choose the Right Business Structure in Singapore
Choosing a business structure is one of the first decisions to make before registering your business. The structure you choose affects how the business is owned, who is responsible for its debts, and the level of compliance required.
For most businesses, the main options include a private limited company, sole proprietorship, partnership, LLP, or, for foreign companies, a branch or representative office.
Private Limited Company (Pte Ltd)
A private limited company is a common choice for businesses that plan to grow, hire employees, or work with investors and corporate clients. It is a separate legal entity from its shareholders, which generally protects the owners from personal liability for the company's debts.
This structure also provides more flexibility as the business grows, although it comes with more administrative and compliance requirements than simpler business structures.
Sole Proprietorship
A sole proprietorship may suit an individual running a small or straightforward business. It is relatively simple to set up, but the business and owner are legally the same entity.
This means the owner has unlimited liability for the business's debts and losses. As a result, it may be less suitable if you expect the business to take on significant financial or operational risks.
Partnership and Limited Liability Partnership (LLP)
A partnership allows two or more people to run a business together. In a general partnership, the partners are personally liable for the business's debts and losses.
An LLP offers a different approach. It is a separate legal entity that combines the flexibility of a partnership with limited liability protection. Partners are generally not personally responsible for debts caused by another partner, although they remain responsible for their own wrongful actions.
Branch Office or Subsidiary
Foreign companies looking to establish a presence in Singapore can consider a branch or a subsidiary. A branch office is an extension of the foreign parent company rather than a separate Singapore legal entity. A subsidiary, usually set up as a private limited company, is a separate Singapore entity. The better option depends on factors such as how independently you want the Singapore operation to operate and how you plan to structure ownership and liability.
Representative Office
A representative office can be useful for a foreign company that wants to explore the Singapore market before establishing a permanent operation. It can be used to assess market opportunities and conduct feasibility activities, but it is not intended for carrying out full commercial operations.
For eligible foreign commercial entities, a representative office is generally approved for one year initially, with extensions considered on a case-by-case basis for up to three years.
How to Register a Business in Singapore
Once you have chosen the right business structure, the next step is to register the business with Singapore’s Accounting and Corporate Regulatory Authority (ACRA). The process is handled online through BizFile, ACRA’s filing and registration portal.
The process is fairly straightforward, but it helps to have your business details ready before you start. Here is what you need to do.
Step 1: Choose and Reserve Your Business Name
Before you can register your business, you need to choose and reserve a name through BizFile. Start by checking whether your preferred name is available and whether it meets ACRA’s naming requirements. You will also need to provide your business structure and select the relevant business activities during the name application.
The current application fee is S$15. Once approved, the name is reserved for 120 days, giving you time to complete the registration. If you do not register the business within this period, the name will be released and may become available to someone else.
It is worth choosing your name carefully at this stage. Changing it later can mean updating your business materials, website, contracts, and other records, particularly once your new business starts building its presence.
Step 2: Determine Your Business Activities
When you apply for your business name, you will also need to state what your business does. This is where you select the appropriate Singapore Standard Industrial Classification (SSIC) code.
Your SSIC code should accurately represent your main business activity. You can also add a secondary activity if your business operates across more than one area. ACRA requires registered entities to use five-digit SSIC codes for their primary and, where applicable, secondary business activities.
For example, if you are setting up a digital marketing agency, your selected SSIC code should reflect the nature of the services you actually provide rather than simply choosing a broad category because it sounds suitable.
Getting this right from the beginning can make your registration details more accurate and avoid unnecessary changes later.
Step 3: Prepare Your Business Registration Details
Before submitting your registration, make sure you have all the information required for your chosen business structure.
For a private limited company, this generally includes:
- Business structure – such as a private limited company (Pte Ltd)
- Shareholders – including their details and share allocation
- Directors – including the required resident director where applicable
- Company secretary – to be appointed within the required timeframe
- Registered business address – a Singapore address for official correspondence and company records
- Share capital – including the amount of paid-up capital and share allocation
- Company constitution – either a customised constitution or the applicable model constitution ACRA's BizFile registration process guides applicants through these details, including position holders, shareholders, controllers, share capital and the company constitution.
If you are a foreign founder, this is also where you should consider whether you need a nominee director to meet Singapore's local director requirement. If you plan to relocate to Singapore to run the business, you may also need to consider whether an EntrePass is relevant to your situation.
Having these details prepared beforehand makes the registration process much smoother, especially if there are multiple shareholders or directors involved.
Step 4: Register Your Business with ACRA
With your business name approved and registration details ready, you can move on to the actual business registration.
ACRA is the statutory board responsible for registering and regulating businesses and companies in Singapore. The registration is completed online through BizFile, which is also used for incorporation and other business registration filings.
Before submitting your application, review all the information carefully to make sure the details are accurate and complete. ACRA will process the application once it has been submitted.
Once your registration is approved, your business becomes a registered entity. You will receive a Unique Entity Number (UEN), which is used to identify your business when dealing with government agencies and other organisations. You can also obtain your business profile, which contains the registered details of your entity.
Step 5: Complete Your Company Setup
Registration is an important milestone, but it is not quite the end of the setup process. There are still a few practical matters to take care of before you start operating.
If you have incorporated a company, make sure the required company secretary is appointed within the prescribed timeframe. You should also keep your corporate records and registers properly maintained from the beginning.
From there, you can move on to practical business requirements such as opening a corporate bank account, setting up your accounting processes and checking whether your business needs any licences or permits.
If you plan to raise funds, bring in new shareholders or expand the company later, keeping your corporate records and shareholding information properly organised from the beginning will make those processes easier to manage.
It is also a good time to consider protecting the intellectual property associated with your business, such as your brand name, logo, products or other original assets.
If your business works with government-supported programmes or business development initiatives, Enterprise Singapore may also be a useful resource to explore as your company grows.
It is also a good time to review your registered details and make sure your business address, directors, shareholders, and other corporate information are accurate.
Can Foreign Entrepreneurs Register a Company in Singapore?
Yes. Foreign entrepreneurs can set up and own a company in Singapore, even if they do not live in the country. The important thing is to understand that owning a company, being a director, and working in Singapore are three different things.
For most foreign founders, the process is straightforward once these requirements are clear.
Can Foreigners Own 100% of a Singapore Company?
Yes. Foreigners can generally own 100% of a Singapore private limited company. You do not need to have a Singaporean shareholder simply because you are a foreign founder.
The part that often causes confusion is that full ownership does not remove the local director requirement. Your company still needs at least one director who is ordinarily resident in Singapore.
So, if you are based overseas, you can remain the sole shareholder while making the necessary arrangements to meet the local director requirement.
Do Foreigners Need a Local Director?
Yes. A Singapore company must have at least one director who is ordinarily resident in Singapore. If you are already a Singapore resident and meet the requirements, you may be able to take this role yourself. If you are setting up the company from overseas, you will need another eligible person to fulfil the requirement.
For foreign founders without a local co-founder or senior employee, a nominee director is one option. Overseas founders commonly use this arrangement, but the nominee director still has legal responsibilities as a company director. It is therefore important to work with a reputable corporate service provider rather than treating the role as a simple formality.
Foreigners also need to engage a registered Corporate Service Provider (CSP) when registering a business in Singapore.
Do Foreign Entrepreneurs Need a Singapore Work Pass?
Not necessarily.
Simply owning a Singapore company does not automatically give you the right to live or work in Singapore. If you plan to relocate and actively work for your company, you will need to meet Singapore's work-pass requirements.
For example, the EntrePass is designed for eligible foreign entrepreneurs who want to operate a business in Singapore, particularly businesses that meet specific innovation, funding, or other qualifying criteria. Can a Foreign Company Set Up a Business in Singapore?
Yes. If you already have an established company overseas, you do not necessarily have to start a completely new business entity in Singapore.
There are three common options:
Subsidiary company
A subsidiary is a separate Singapore company owned by the overseas parent company. This can be a good option if you want to build a long-term presence and keep the Singapore operations as a separate entity.
Branch office
A branch is an extension of the foreign parent company rather than a separate company. It allows the overseas business to conduct operations in Singapore while remaining directly connected to the parent company. A Singapore branch must have a registered office address and a locally resident authorised representative.
Representative office
A representative office is generally used when a foreign company wants to explore the Singapore market before committing to full commercial operations. It is more suitable for market research and business development than for running a revenue-generating business.
The right option depends on what you actually want to do in Singapore. If you are testing the market, a representative office may be enough. If you want a permanent local presence, a subsidiary or branch may make more sense.
What Do You Need to Set Up a Business in Singapore?
Registering your company is only one part of starting a Singapore business. Once the company is registered with ACRA, you still need to put a few practical things in place before you can start your day-to-day operations.
The exact requirements depend on your type of business, but these are the main things to consider.
Registered Business Address
Every Singapore company needs a registered office address in Singapore. This is the official address used for receiving government correspondence, notices, and other documents relating to the company. It does not necessarily have to be the same place where you run your business.
For example, you may operate your business remotely while securing a registered address separately. A virtual office can be an option for businesses that do not need a full-time physical office but still need a local address in Singapore.
The important thing is to make sure the address is suitable for receiving official correspondence and meets the requirements for a registered office.
Corporate Bank Account
Once your company incorporation is complete, you can set up a corporate bank account for the business. You do not necessarily have to wait until you start trading, and having the account ready early can make it easier to manage payments and business expenses.
Banks will typically ask for documents such as the company's registration details, business profile, information about directors and shareholders, and identification documents for the relevant individuals. The exact requirements vary between banks.
Keeping your business and personal finances separate from the beginning also makes it easier to track income, expenses, and other company affairs. It can also simplify your accounting and tax reporting later.
Business Licences and Permits
Not every business needs a specific licence, but some activities are regulated and require approval before you can operate.
For example, businesses in areas such as food services, education, financial services and certain professional or regulated activities may need additional licences or permits.
Rather than guessing which licences apply to your new business in Singapore, check the requirements based on your actual business activities. GoBusiness provides a step-by-step guide and licensing information to help businesses identify the approvals they may need.
This is particularly important if you are planning to expand your operations or introduce a new service later.
Business Plan and Funding
A business plan is not necessarily a requirement to register your Singapore business, but it can be useful for turning your business goals into a practical plan.
It can help you work out your expected costs, pricing, target customers, revenue model, and how much funding you may need. This becomes especially useful if you plan to approach investors, apply for financing, or explore government support.
Singapore also has various schemes and support programmes for eligible businesses. Enterprise Singapore is one of the key organisations to explore if you are looking for information about business support and funding opportunities.
You should also understand your potential tax obligations. Depending on the business structure and activities, you may need to deal with IRAS (Inland Revenue Authority of Singapore), including reporting taxable or chargeable income. Capital gains are generally treated differently from taxable business income in Singapore, although the tax treatment depends on the circumstances.
The goal is to have the basics ready before you start operating: a registered address, a business bank account, the right licences and a clear plan for funding and operations. This gives your new business a practical foundation beyond simply completing the registration process.
How Much Does It Cost to Register a Company in Singapore?
The cost of company registration in Singapore is relatively straightforward. However, the ACRA registration fee is only part of the picture. If you are setting up a new business, you will also need to budget for services and ongoing costs such as a company secretary, registered address, accounting, and office space.
ACRA Registration Fees
If you are registering a private limited company, the basic government fees are:
- Business name application: S$15
- Company registration: S$300
- Total ACRA registration fees: S$315
The S$15 name application fee reserves your proposed business name for up to 120 days. The S$300 registration fee applies when you register a new company through BizFile.
If you are registering a different type of business, the registration fee may be lower. For example, ACRA currently charges S$100 to register a sole proprietorship, partnership, LLP or limited partnership, in addition to the S$15 name application fee.
These are government fees only. They do not include the cost of professional services or the expenses involved in running the business.
Other Business Setup Costs to Consider
Once your company is registered with ACRA, there are several other costs to consider. The actual amount will depend on your business model and how you plan to operate.
Company secretary
A Singapore company must appoint a company secretary within the required timeframe. If you use a corporate service provider to handle this, the provider will typically charge a separate service fee.
Registered business address
Every company needs a registered office address in Singapore. If you do not need a permanent physical office, a virtual office or registered address service may be a more practical option.
Corporate service provider
Foreign founders must engage a registered Corporate Service Provider (CSP) to register a business in Singapore. CSP fees are separate from the ACRA registration fees and vary depending on the services you require.
Corporate bank account
Opening a corporate bank account may involve additional fees depending on the bank and account you choose. More importantly, you should factor in the ongoing costs of maintaining the account and processing transactions.
Licences and permits
Some businesses need specific licences or approvals before they can operate. These costs depend entirely on your business activities, so it is worth checking the requirements through GoBusiness before you start.
Office space
If your business needs a physical workplace, rent will likely become one of your higher operating costs. On the other hand, businesses that can operate remotely may only need a registered address or virtual office rather than a full-time office.
Accounting and tax compliance
You should also budget for bookkeeping, annual filings, tax preparation, and other compliance work. Depending on your business structure and activities, you may have tax obligations with IRAS and need to report your company's chargeable income.
The key thing to remember is that S$315 is the basic government cost to register a private limited company, not the total cost of starting and operating one. Your actual budget will depend on how much support you need, where you operate, and the type of business you plan to run.
Conclusion: Start Your Business in Singapore
Starting your business in Singapore begins with choosing a structure that fits how you plan to operate, followed by registering the business and putting the right practical arrangements in place. Once the registration is complete, you can focus on building the operations that will support your business as it grows.
One of those practical decisions is where your business will be based. A professional business address can give your company a local presence without requiring you to commit to a traditional office from day one.
Tenant City offers flexible serviced and private office spaces in Singapore for businesses at different stages. Whether you need a professional address while starting your business or a dedicated workspace for your growing team, you can choose an office solution that fits your business needs.